IDEAS home Printed from
MyIDEAS: Log in (now much improved!) to save this article

Macro-economische fluctuaties. Nieuw-klassieke en nieuw-Keynesiaanse theorieën

Listed author(s):
  • E. Meyermans
Registered author(s):

    This paper discusses recent developments in the theories about macro-economic fluctuations. We start with a review of some important empirical regularities. The New Classical economists interpret the macro-economic fluctuations as responses to unanticipated monetary and persistent real shocks that are transmitted through expectations and the (intertemporal) substitution of activities in response to change in relative prices. A stabilisation policy is undesirable because fluctuations reflect the optimal responses of the private sector to shocks. Transparent and credible policy rules are necessary to prevent that the public sector becomes a source of instability. The New Keynesian economists focus their attention primarily on nominal shocks and the transmission of these shocks through markets characterised by imperfect competition and imperfect information. Fluctuations are caused by nominal shocks because nominal rigidities in combination with real rigidities prevent an immediate full adjustment, as a consequence a stabilisation policy can improve welfare.

    If 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.

    File URL:
    Download Restriction: no

    Article provided by KU Leuven, Faculty of Economics and Business, Review of Business and Economic Literature in its journal Review of Business and Economic Literature.

    Volume (Year): L (2005)
    Issue (Month): 3 ()
    Pages: 461-490

    in new window

    Handle: RePEc:ete:revbec:20050305
    Contact details of provider: Postal:
    Naamsestraat 69, 3000 Leuven

    Web page:

    More information through EDIRC

    No references listed on IDEAS
    You can help add them by filling out this form.

    This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

    When requesting a correction, please mention this item's handle: RePEc:ete:revbec:20050305. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (library EBIB)

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If references are entirely missing, you can add them using this form.

    If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.