The essay points out the methodological difficulties arising within the new Keynesian approach to macroeconomics, especially when the attempt is made to merge into a single theoretical scheme models based on deeply different hypotheses. Moreover, the paper emphasizes the weaknesses of the efficiency-wage theory in proving the existence and stability of unemployment equilibrium.
Some Questions for New Keynesians
D'ORLANDO, Fabio;NISTICO', Sergio
1998-01-01
Abstract
The essay points out the methodological difficulties arising within the new Keynesian approach to macroeconomics, especially when the attempt is made to merge into a single theoretical scheme models based on deeply different hypotheses. Moreover, the paper emphasizes the weaknesses of the efficiency-wage theory in proving the existence and stability of unemployment equilibrium.File in questo prodotto:
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