Еconomic theory and the New-Keynesian school
AbstractIn this paper it is described the school of neo-Keynesians (Akerlof and Stiglitz are in the group of ”Hard” New-Keynesians, that don’t accept New neo-classical synthesis, i.e. Dynamic Stochastic General equilibrium models-DSGE),that as a basic source of instability in the economies view the demand аnd supply side shocks, short run is important for them, wages and prices are rigid, expectations of the economic agents are rational, but also historical data are of great importance, and they introduced microeconomic foundations for their macroeconomic models. --
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoPaper provided by ZBW - German National Library of Economics in its series EconStor Preprints with number 90909.
Date of creation: 30 Jan 2014
Date of revision:
Contact details of provider:
Postal: Düsternbrooker Weg 120, 24105 Kiel / Neuer Jungfernstieg 21, 20354 Hamburg
Phone: +49 431 8814-1
Fax: +49 431 8814-520
Web page: http://www.econstor.eu/
More information through EDIRC
New-Keynesians; nominal rigidities; microeconomic foundations;
Other versions of this item:
- E00 - Macroeconomics and Monetary Economics - - General - - - General
- E12 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Keynes; Keynesian; Post-Keynesian
This paper has been announced in the following NEP Reports:
- NEP-ALL-2014-02-02 (All new papers)
- NEP-HPE-2014-02-02 (History & Philosophy of Economics)
- NEP-MAC-2014-02-02 (Macroeconomics)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Roberts, John M, 1995. "New Keynesian Economics and the Phillips Curve," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 27(4), pages 975-84, November.
- Fischer, Stanley, 1977. "Long-Term Contracts, Rational Expectations, and the Optimal Money Supply Rule," Journal of Political Economy, University of Chicago Press, vol. 85(1), pages 191-205, February.
- Hart, Oliver, 1982. "A Model of Imperfect Competition with Keynesian Features," The Quarterly Journal of Economics, MIT Press, vol. 97(1), pages 109-38, February.
- Bleaney, Michael, 1991. "Why Is Evidence for Implicit Contracts in the Labour Market So Scarce?," Australian Economic Papers, Wiley Blackwell, vol. 30(56), pages 21-27, June.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (ZBW - German National Library of Economics).
If references are entirely missing, you can add them using this form.