Graduate studies at Western
Journal of Economic Methodology 6 (2):221-238 (1999)
|Abstract||This paper explores the main motivations behind new Keynesian macroeconomics in the last 15 years. It focuses on the two central issues of nominal rigidity and involuntary unemployment. It argues that the Walrasian paradigm is inherently incapable of making sense of these issues except in an ad hoc manner. Both of these issues require the adoption of a framework with price and wage making agents to be properly modelled. Even if the Walrasian approach might fit the facts in a superficial way, it will be badly wrong about welfare effects of output fluctuations. The importance of imperfect competition from a methodological perspective is that it enables us to solve several anomalies simultaneously.|
|Keywords||No keywords specified (fix it)|
|Categories||categorize this paper)|
|Through your library||Configure|
Similar books and articles
John B. Egger (1989). Psychologist of the Ills of Capitalism. Critical Review 3 (3-4):444-466.
Dimitria Electra Gatzia (2012). The Problem of Unemployment. Economics, Management, and Financial Markets 7 (2):36-54.
Siobhain McGovern (1995). On a Maze of Second Thoughts and on the Methodology of Economic Methodology. Journal of Economic Methodology 2 (2):223-238.
Paul Davidson (1989). The Economics of Ignorance or Ignorance of Economics? Critical Review 3 (3-4):467-487.
Tim Henning (2012). Strukturelle Entfremdung Als Kategorie der Wirtschaftsethik. Deutsche Zeitschrift für Philosophie 60 (2):213-226.
J. Bradford de Long (1998). Unemployment in America: Rejoinder to Vedder and Gallaway. Critical Review 12 (3):265-267.
Christian Schmitt, Gender-Specific Effects of Unemployment on Family Formation: A Cross-National Perspective.
J. Bradford de Long (1998). It Doesn't Work. Critical Review 12 (1-2):59-69.
Stephan Boehm & Karl Farmer (1993). Why the Acrimony? Reply to Davidson. Critical Review 7 (2-3):407-421.
Siobhan Austen & Therese Jefferson (2006). Comparing Responses to Critical Realism. Journal of Economic Methodology 13 (2):257-282.
Clemens Fuest, Joachim Mitschke, Andreas Peichl & Thilo Schaefer, A Low Wage Subsidy Scheme Against Unemployment of Low-Skilled Workers.
Robert J. Hartman (2011). Involuntary Belief and the Command to Have Faith. International Journal for Philosophy of Religion 69 (3):181-192.
Sorry, there are not enough data points to plot this chart.
Added to index2012-02-20
Recent downloads (6 months)0
How can I increase my downloads?