THE NEW CLASSICALS AND THE METHOD
DOI:
https://doi.org/10.22456/2176-5456.10452Keywords:
Ciclos. Dinâmica. Equilíbrio.Abstract
In the beginning of the 1970's, the New Classical School challenged the foundations of keynesianism, based on the lack of microfoundations of the General Theory. The objective of the New Classical School was to construct a business cycle theory compatible with the competitive equilibrium, as an alternative to keynesian economics. The identification of regularities allowed a unified explanation for business cycles. This method, however, assumes that the actual reality is stationary. If that is not the case the model becomes dynamically unstable.Downloads
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Published
2009-10-01
How to Cite
Lopes, C. M. (2009). THE NEW CLASSICALS AND THE METHOD. Análise Econômica, 11(19). https://doi.org/10.22456/2176-5456.10452
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Artigos