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On prices in the new neoclassical Sythesis in Macroeconomics

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Author Info
Alexander Tobon () (Universidad de Antioquia)

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Abstract

The aim of this paper is to study the role that prices play in the New Neoclassical Synthesis. It is shown that although the New Synthesis emphasizes the importance of having a monetary theory to recommend monetary policies, it essentially offers the same answers on the minor role of prices in static macroeconomics. In spite of this, the New Neoclassical Synthesis has the merit of attempting to return to the pre-Keynesian intuitions of Wicksell, which indeed could contribute to the search for not just better answers, but for new questions regarding prices in a monetary theory.

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Publisher Info
Article provided by Universidad de Antioquia, Departamento de Economía in its journal LECTURAS DE ECONOMÍA.

Volume (Year): (2008)
Issue (Month): 69 (Julio-Diciembre)
Pages: 201-220
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Handle: RePEc:lde:journl:y:2008:i:69:p:201-220

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Web page: http://economia.udea.edu.co
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Related research
Keywords: prices; interest rate; general equilibrium; New Neoclassical Synthesis.;

Find related papers by JEL classification:
E13 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Neoclassical
E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
E43 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Determination of Interest Rates; Term Structure of Interest Rates
E61 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Policy Objectives; Policy Designs and Consistency; Policy Coordination
B22 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Macroeconomics

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This page was last updated on 2009-11-29.

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