Working Paper Series
New Keynesianism and Aggregate Economic Activity
Abstract: This paper addresses various attempts by so-called new
Keynesians, writing mainly in the 1980s and 1990s, to strengthen the
analytical basis, in particular the microeconomic foundations, of these
assertions. What, exactly, have then the new Keynesians accomplished, and
how should their contributions be valued in the relation to other recent
contributions to macroeconomics?
Keywords: Economic Theory; Macroeconomics; (follow links to similar papers)
JEL-Codes: B22; B31; E12; (follow links to similar papers)
20 pages, May 29, 1997
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