Working Paper No. 491

New Keynesianism and Aggregate Economic Activity

Published: May 29, 1997Pages: 20Keywords: Economic Theory; MacroeconomicsJEL-codes: B22; B31; E12

New Keynesianism and Aggregate Economic Activity Assar Lindbeck


This paper addresses various attempts by so-called new Keynesians, writing mainly in the 1980s and 1990s, to strengthen the analytical basis, in particular the microeconomic foundations, of these assertions. What, exactly, have then the new Keynesians accomplished, and how should their contributions be valued in the relation to other recent contributions to macroeconomics?

Assar Lindbeck

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Interdisciplinary European Studies

The European Union in a Changing World Order

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This book explores how the European Union responds to the ongoing challenges to the liberal international order. These challenges arise both within the EU itself and beyond its borders, and put into question the values of free trade and liberal democracy. 

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