The New Keynesian Economics and the Output-Inflation Trade-Off

1988 ◽  
Vol 1988 (1) ◽  
pp. 1 ◽  
Author(s):  
Laurence Ball ◽  
N. Gregory Mankiw ◽  
David Romer ◽  
George A. Akerlof ◽  
Andrew Rose ◽  
...  
Keyword(s):  
New Keynesian ◽  
Trade Off ◽  
Keynesian Economics

The new Keynesian economics and the output-inflation trade-off

1996 ◽  
Vol 3 (9) ◽  
pp. 599-602 ◽  
Author(s):  
George M. Katsimbris ◽  
Stephen Miller
Keyword(s):  
New Keynesian ◽  
Trade Off ◽  
Keynesian Economics

New-Keynesian economics today

1997 ◽  
Author(s):  
Brian Snowdon ◽  
Howard Vane
Keyword(s):  
New Keynesian ◽  
Keynesian Economics

scholarly journals The State of New Keynesian Economics: A Partial Assessment

2018 ◽  
Vol 32 (3) ◽  
pp. 87-112 ◽  
Author(s):  
Jordi Galí
Keyword(s):  
Interest Rates ◽  
Global Financial Crisis ◽  
Academic Research ◽  
The State ◽  
New Keynesian ◽  
Future Research ◽  
New Keynesian Model ◽  
Keynesian Economics ◽  
Keynesian Model ◽  
Dynamic Stochastic

In August 2007, when the first signs emerged of what would come to be the most damaging global financial crisis since the Great Depression, the New Keynesian paradigm was dominant in macroeconomics. Ten years later, tons of ammunition has been fired against modern macroeconomics in general, and against dynamic stochastic general equilibrium models that build on the New Keynesian framework in particular. Those criticisms notwithstanding, the New Keynesian model arguably remains the dominant framework in the classroom, in academic research, and in policy modeling. In fact, one can argue that over the past ten years the scope of New Keynesian economics has kept widening, by encompassing a growing number of phenomena that are analyzed using its basic framework, as well as by addressing some of the criticisms raised against it. The present paper takes stock of the state of New Keynesian economics by reviewing some of its main insights and by providing an overview of some recent developments. In particular, I discuss some recent work on two very active research programs: the implications of the zero lower bound on nominal interest rates and the interaction of monetary policy and household heterogeneity. Finally, I discuss what I view as some of the main shortcomings of the New Keynesian model and possible areas for future research.

scholarly journals The role of taxes as automatic destabilizers in New Keynesian economics

2003 ◽  
Vol 87 (5-6) ◽  
pp. 1123-1136 ◽  
Author(s):  
Henrik Jacobsen Kleven ◽  
Claus Thustrup Kreiner
Keyword(s):  
New Keynesian ◽  
Keynesian Economics

scholarly journals Keynesian System, Keynesian Policies and an Evaluation of What Keynes Might Have Advised Today

2015 ◽  
Author(s):  
Özlen Hiç
Keyword(s):  
Aggregate Demand ◽  
New Keynesian ◽  
Economic Problems ◽  
Keynesian Economics ◽  
The Face

We have surveyed in this article the development of the Keynesian macroeconomic system since 1936 up to the present. Our approach was, however, analytical rather than historical and descriptive. Keynesian System, hence Neo-Keynesians and modern Keynesian schools, such as New Keynesian Economics and Post-Keynesian Economics visualize that, if left by itself, the economy will give unemployment due to insufficiency of aggregate demand. In the article, the Keynesian policies are analysed with respect to their efficiency. Keynesian System was developed and modified in the face of criticisms by its opponents. We emphasize in our article that the Keynesian System was mainstream most of the time both in academic circles and in implementation. Presently again, basically Keynesian System has the upper hand, mostly New Keynesian Economics and also to some extent, Post-Keynesian Economics.The last section of the article covers an evaluation of what Keynes might have said for today’s economic problems.

Sign in / Sign up

Export Citation Format

Share Document