Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/90909
Authors: 
Josheski, Dushko
Magdinceva-Sopova, Marija
Year of Publication: 
30-Jan-2014
Abstract: 
In this paper it is described the school of neo-Keynesians (Akerlof and Stiglitz are in the group of ”Hard” New-Keynesians, that don’t accept New neo-classical synthesis, i.e. Dynamic Stochastic General equilibrium models-DSGE),that as a basic source of instability in the economies view the demand аnd supply side shocks, short run is important for them, wages and prices are rigid, expectations of the economic agents are rational, but also historical data are of great importance, and they introduced microeconomic foundations for their macroeconomic models.
Subjects: 
New-Keynesians
nominal rigidities
microeconomic foundations
JEL: 
E00
E12
Document Type: 
Preprint

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