ニュー・ケインジアンの挑戦(市場経済における不均衡分析,総合研究)
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概要
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Thirty years have passed since Keynesian economics was exposed to the criticism that it failed to recognize the importance of shifts in aggregate supply and lacked firm microeconomic foundations. While New Classical macroeconomics appeared to take a turn on center stage, new generation Keynesian economists have sought to develop better microeconomic foundations for product, labor, and capital markets, and have explained that changes in aggregate demand cause changes in real variables. There is a wide variety of strands of "New Keynesian" economics; the three main streams of discussion are (1) price rigidities, (2) market imperfections, and (3) coordination failures. This paper explores basic ingredients of each strand and its intrinsic conclusions. Given the complexity of the real monetary economy, no one should expect to find a single simple explanation of how the economy operates. This paper also examines policy implications which appeared in New Keynesian discussions. Although economists labeled "New Keynesian" are Keynesians, their theoretical and empirical findings are not contradictory to the observation that views within the mainstreams of the economics profession about the desirability of discretionary fiscal policy as a countercyclical tool were becoming more cautious. Admitted that we are never free from Keynesian macroeconomic phenomena, we still have before us the tasks of providing alternative arguments and constructing another noble model to improve our understanding of the Keynesian monetary economy.
- 日本大学の論文
- 1997-03-01
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