Notas críticas sobre a macroeconomia novo-keynesiana
By: GONTIJO, CLAUDIO
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ArticlePublisher: São Paulo : Editora 34, abr./jun. 2009Revista Economia Política = Brazilian Journal of Political Economy 29, 2, p. 285-301Abstract: Critical notes on new-Keynesian macroeconomics. This article shows that, in spite of its great steps towards reality, new-Keynesian macroeconomics seems to be a non-systematic construction with problems originated from ad hoc hypothesis required to explain the non neutrality of money and the existence of disequilibria in the short run. In particular, it seems that prices and wages rigidities stand in sandy bases and that the derivation of the IS and LM curves from neoclassical fundamentals is problematic. Even disregarding the apparent difficulties of the neoclassical theory of value and distribution, the new-Keynesian connections between interest rate, money, and output do not seem fully consistent
Critical notes on new-Keynesian macroeconomics. This article shows that, in spite of its great steps towards reality, new-Keynesian macroeconomics seems to be a non-systematic construction with problems originated from ad hoc hypothesis required to explain the non neutrality of money and the existence of disequilibria in the short run. In particular, it seems that prices and wages rigidities stand in sandy bases and that the derivation of the IS and LM curves from neoclassical fundamentals is problematic. Even disregarding the apparent difficulties of the neoclassical theory of value and distribution, the new-Keynesian connections between interest rate, money, and output do not seem fully consistent
v. 29, n. 2(114)
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