| Autor: Lech Próchnicki | 67 |
Strony: 67-89
pełen tekst
NEW KEYNESIAN SCHOOL – THEORETICAL AND PRACTICAL IMPLICATIONS
Summary
Due to New Keynesian School Keynes thesis – in a modern form – were reburn. The new model is build on rigard price-wages assumption but it also incorporets main theoretical thesis of New Neoclasical School, for example: concept of natural unemployment, potential product, rational expectation. That is why the New Keynesian Theory is recognized as a new macroeconomic synthesis. Anyway there is an importend diffrence between the schools. The controversies go around stabilization policy. New Keynesians believe that – becouse of rigard prices and wages – natural recovery takes long time, so government should speed up the adjustmnet process.
pełen tekstNEW KEYNESIAN SCHOOL – THEORETICAL AND PRACTICAL IMPLICATIONS
Summary
Due to New Keynesian School Keynes thesis – in a modern form – were reburn. The new model is build on rigard price-wages assumption but it also incorporets main theoretical thesis of New Neoclasical School, for example: concept of natural unemployment, potential product, rational expectation. That is why the New Keynesian Theory is recognized as a new macroeconomic synthesis. Anyway there is an importend diffrence between the schools. The controversies go around stabilization policy. New Keynesians believe that – becouse of rigard prices and wages – natural recovery takes long time, so government should speed up the adjustmnet process.