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Short-run macro after the crisis : the end of the "new" neoclassical synthesis?
Landmann, Oliver - 2014 - Rev.
The Financial Crisis of 2008, and the Great Recession in its wake, have shaken up macroeconomics. The paradigm of the "New" Neoclassical Synthesis, which seemed to provide a robust framework of analysis for short-run macro not long ago, fails to capture key elements of the recent crisis. This...
Persistent link: https://www.econbiz.de/10010242840
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Macroeconomie in Crisi E Macroeconomie in Ripresa (Macroeconomics in Crisis and Macroeconomics in Recovery) (in Italian)
Roncaglia, Alessandro - 2011
The financial and economic crisis brings to a reconsideration of macroeconomics: as it happened in the past, after the Great Crash of 1929 as well as after the Second World War and after the collapse of the Bretton Woods system in 1971 and the subsequent oil crisis. A brief critical survey of...
Persistent link: https://www.econbiz.de/10013120079
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Bounded rationality in Keynesian beauty contests : a lesson for central bankers?
Mauersberger, Felix; Nagel, Rosemarie; Bühren, Christoph - 2019
The goal of this paper is to show how adding behavioral components to micro-foundated models of macroeconomics may contribute to a better understanding of real world phenomena. The authors introduce the reader to variations of the Keynesian Beauty Contest (Keynes, The General Theory of...
Persistent link: https://www.econbiz.de/10012120039
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The monetary economy and the economic crisis
Laidler, David - 2010
The monetary economy has properties that cannot be analyzed using the tools of today's dynamic general equilibrium … trading at false prices, a phenomenon ruled out by assumption in dynamic general equilibrium models. Not only Keynes …
Persistent link: https://www.econbiz.de/10010291902
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The monetary economy and the economic crisis
Laidler, David E. W. - 2010
The monetary economy has properties that cannot be analyzed using the tools of today's dynamic general equilibrium … trading at "false" prices, a phenomenon ruled out by assumption in dynamic general equilibrium models. Not only Keynes … thought of as relying on this factor. -- Crises ; money ; monetary economy ; general equilibrium ; cycles ; sticky prices …
Persistent link: https://www.econbiz.de/10008655700
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The Monetary Economy and the Economic Crisis
Laidler, David E. W. - 2011
The monetary economy has properties that cannot be analyzed using the tools of today's dynamic general equilibrium … trading at "false" prices, a phenomenon ruled out by assumption in dynamic general equilibrium models. Not only Keynes …
Persistent link: https://www.econbiz.de/10013130277
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Optimal Monetary Policy Under Negative Interest Rate
Wen, Yi - 2019
In responding to the extremely weak global economy after the financial crisis in 2008, many industrial nations have been considering or have already implemented negative nominal interest rate policy. This situation raises two important questions for monetary theories: (i) Given the widely held...
Persistent link: https://www.econbiz.de/10013210479
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Optimal monetary policy under negative interest rate
Dong, Feng; Wen, Yi - 2017 - This version: May 16, 2017
In responding to the extremely weak global economy after the financial crisis in 2008, many industrial nations have been considering or have already implemented negative nominal interest rate policy. This situation raises two important questions for monetary theories: (i) Given the widely held...
Persistent link: https://www.econbiz.de/10011691605
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Long and Plosser meet Bewley and Lucas
Dong, Feng; Wen, Yi - 2018
We develop a N-sector business cycle network model a la Long and Plosser (1983), featuring heterogenous money demand a la Bewley (1980) and Lucas (1980). Despite incomplete markets and a well-defined distribution of real money balances across heterogeneous households, the enriched N-sector...
Persistent link: https://www.econbiz.de/10011911508
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The monetary economy and the economic crisis
Laidler, David E. W. - 2011 - Revised, January 2011
The monetary economy has properties that cannot be analyzed using the tools of today's dynamic general equilibrium … trading at "false" prices, a phenomenon ruled out by assumption in dynamic general equilibrium models. Not only Keynes …
Persistent link: https://www.econbiz.de/10011708307