IDEAS home Printed from https://ideas.repec.org/h/spr/sprchp/978-3-032-06201-7_3.html

Economics in the MIT-Harvard Network and the New Keynesian Economics

In: Economic Theory in the Twentieth Century, An Intellectual History—Volume IV

Author

Listed:
  • Roberto Marchionatti

    (University of Turin, Campus “Luigi Einaudi”, Department of Economics and Statistics)

Abstract

The chapter deals with the economics in the Harvard-MIT economics network, which includes the economics departments at Harvard, MIT, Yale, Princeton, Stanford, and the University of Pennsylvania. During the early part of this period, the older generation of economists—figures such as Samuelson, Modigliani, Solow, Tobin, and Klein, who had shaped mainstream economics in the first 25 years after World War II—continued to play a significant, though declining, role. At the same time, younger economists contributed to emergence of a research program aimed at developing a new Keynesian economics. Firstly, the chapter discusses the response of the older generation to the rise of New Classical Macroeconomics. Then, the chapter explores the development of New Keynesian Economics, focusing on its two main strands—the first centered on wage and price rigidities, and the second on asymmetric information. Particular attention is given to the innovative contributions of George Akerlof and Joseph Stiglitz, whose work was instrumental in reconstructing economic theory from an anti-neoclassical perspective.

Suggested Citation

  • Roberto Marchionatti, 2025. "Economics in the MIT-Harvard Network and the New Keynesian Economics," Springer Books, in: Economic Theory in the Twentieth Century, An Intellectual History—Volume IV, chapter 0, pages 65-129, Springer.
    • Handle: RePEc:spr:sprchp:978-3-032-06201-7_3
    DOI: 10.1007/978-3-032-06201-7_3
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a
    for a similarly titled item that would be available.

    More about this item

    Keywords

    ;
    ;
    ;
    ;
    ;
    ;
    ;
    ;
    ;
    ;
    ;
    ;
    ;
    ;

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spr:sprchp:978-3-032-06201-7_3. See general information about how to correct material in RePEc.

    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.

    We have no bibliographic references for this item. You can help adding them by using 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 RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

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

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.