Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/105924
Authors: 
Dullien, Sebastian
Year of Publication: 
2009
Series/Report no.: 
IMK Working Paper 12/2009
Abstract: 
This paper examines in how far the DSGE model which is often dubbed the New Keynesian Consensus is compatibel with a Post-Keynesian or traditional Keynesian understanding of the economy. It is argued that while at first sight DSGE models seem to include a lot of traditional Keynesian or even Post-Keynesian elements such as endogeneous money or the need for an active central bank, the mechanisms at work are completely incompatible with a traditional or Post-Keynesian understanding of the working of the macroeconomy.
Subjects: 
DSGE
New Keynesian Consensus
Monetary Policy
Fiscal Policy
endogenous money
JEL: 
E00
E10
Persistent Identifier of the first edition: 
Document Type: 
Working Paper

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