By Peter Galbács

This ebook examines new classical macroeconomics from a comparative and significant standpoint that confronts the unique texts and later reviews as a primary size of comparability. the second one size appears to be like in a historic context, given that not one of the new classical doctrines might be analyzed ignoring the parallelism and discrepancies with the speculation of Keynes, Friedman or Phelps. Radicalism of latest classical macroeconomics has introduced primary adjustments in fiscal idea, however the doctrines acquired vulgarized and distorted because of the mass of fans. these days, financial concept and coverage, searching for their methods, have a much less transparent courting than ever. as a result, this quantity is aimed toward mapping and reconsidering the coverage tools and transmission mechanisms provided by way of the hot classicals. Its critical query issues to the true nature of latest classical macroeconomics: what results are grounded via the assumptions new classicals used. in addition, concerns raised via automated financial stabilizers and monetary reforms are analyzed to boot, no matter if they have been out of the diversity of classical texts. The ebook attracts an image of latest classical macroeconomics stressing the analogies with Keynesian countercyclical guidelines, rather than the discrepancies regularly held.

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The Theory of New Classical Macroeconomics: A Positive Critique (Contributions to Economics) by Peter Galbács

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