Suchergebnisse
Suchergebnisse:
New classical macroeconomics, sometimes simply called new classical economics, is a school of thought in macroeconomics that builds its analysis entirely on a neoclassical framework. Specifically, it emphasizes the importance of rigorous foundations based on microeconomics, especially rational expectations . New classical macroeconomics strives ...
v. t. e. The Phillips curve is an economic model, named after Bill Phillips, that correlates reduced unemployment with increasing wages in an economy. [1] While Phillips did not directly link employment and inflation, this was a trivial deduction from his statistical findings.
In 1971, after taking the United States off the Bretton Woods system, Nixon was quoted as saying he was "now a Keynesian in economics," which became popularly associated with Friedman's phrase. In 2002, Peter Mandelson wrote an article in The Times declaring "we are all Thatcherites now", referring to the acceptance among the other political parties of Margaret Thatcher's economic policies.
Neoclassical economics. Neoclassical economics is an economic theory that argues for markets to be free. This means governments should generally not make rules about types of businesses, businesses' behaviour, who may make things, who may sell things, who may buy things, prices, quantities or types of things sold and bought. The theory argues ...
New Keynesian economics is especially associated with the latter two.: 383 Implicit contract theory attributes stable real wages to implied agreements between employers and workers. Firms serve not just as consumers of labor, but also as wage insurers. By showing their workers that they will provide stable real wages, firms secure their loyalty.
Nicholas Gregory Mankiw ( / ˈmænkjuː /; born February 3, 1958) is an American macroeconomist who is currently the Robert M. Beren Professor of Economics at Harvard University. [4] Mankiw is best known in academia for his work on New Keynesian economics. [5] Mankiw has written widely on economics and economic policy.
In general, "saltwater economists" insist less on internal model consistency than freshwater economists. Typically, they find "examples of irrational behavior interesting and important." [6] Like behavioral psychologists, they tend to be interested in situations where individuals and groups behave in a seemingly boundedly rational way.
