VROEY, Michel DE; DUARTE, Pedro GARCIA - Institut de Recherche Économique et Sociale (IRES), … - 2012
Present-day macroeconomics has sometimes been dubbed ‘the new neoclassical synthesis’, suggesting that it constitutes a … reincarnation of the neoclassical synthesis of the 1950s. This paper assesses this understanding. To this end, we examine the … contents of the ‘old’ and the ‘new’ neoclassical syntheses. We show that the neoclassical synthesis originally had no fixed …