Chapter

The New Keynesian School

Edmund S. Phelps

in Seven Schools of Macroeconomic Thought

Published in print May 1990 | ISBN: 9780198283331
Published online November 2003 | e-ISBN: 9780191596766 | DOI: http://dx.doi.org/10.1093/0198283334.003.0004

Series: Ryde Lectures

 The New Keynesian School

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This chapter gives a review of the development and theory of the New Keynesian school of macroeconomics. New Keynesian refers to a group of theorists who have sought a new wage–price model, or supply subsystem, on which to rest Keynesian tenets about the effects of aggregate demand and monetary stabilization policy.

Keywords: economic theory; macroeconomics; New Keynesian economics; reviews

Chapter.  4922 words. 

Subjects: Macroeconomics and Monetary Economics

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