Compare the traditional Keynesian, new
Keynesian and real business cycle models in terms of expectations,
price...
Compare the traditional Keynesian, new
Keynesian and real business cycle models in terms of expectations,
price flexibility and potential sources of business cycle
fluctuations. (simple answer) (simple english)
Compare the traditional Keynesian, new Keynesian and real
business cycle models in terms of expectations, price flexibility
and potential sources of business cycle fluctuations.
Discuss the sources of business cycles in keynesians,
monetarist, new classical models and real business cycle economist
view. What are the major policy conclusions of the models?
What are the differences and similarities among the New
Keynesian, Monetarist and Neo-Classical models in terms of
their predicted outcomes? How do the different assumptions of the
models result in policy debates among their respective
adherents?
how to use the four business cycle theories of new keynesianism,
real business cycle theory, monetarist theory and Austrian school
to respectively explain the occurrence of the great recession and
whether appropriate fiscal and monetary policy measures have been
taken?
how to use the four business cycle theories of new keynesianism,
real business cycle theory, monetarist theory and Austrian school
to respectively explain the occurrence of the great recession and
whether appropriate fiscal and monetary policy measures have been
taken?
Describe the following models of the monetary origin of business
cycles (a) Keynesian (this is a trick question) (b) Monetarist (c)
Austrian (d) Post-Keynsian (also a trick question)
1. Paul Krugman is a: monetarist economist. real business cycle
economist. rational expectations economist. supply-side economist.
Keynesian economist.
2. The (original) Keynesian primary policy for a recession is:
increasing money supply/decreasing interest rates. decreasing the
money supply/increasing interest rates. increasing government
spending/cutting taxes. increasing government spending/increasing
money supply. increasing government spending/raising taxes.
3. The original classical school dominated macro economic
thinking: 1800s to 1933. 1759-1793. 1997-2017. 1933-1980.
New Classical Economics (rational expectations) and New
Keynesian Economics are similarly rooted in original Classical and
Keynesian economics. Explain and illustrate how
these latest manifestations of two diametrically opposed positions,
the New Classical rational expectations model and the new Keynesian
model: (1) remain true to their respective
Classical and Keynesian roots about the inherent stability of the
macro economy and the effectiveness of demand management; and
(2) at the same time altered the traditional
Classical and traditional Keynesian analysis.