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New Keynesian economics | HearLore
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New Keynesian economics
New Keynesian economicsIn the late 1970s, Stanley Fischer published an article titled Long-Term Contracts, Rational Expectations, and the Optimal Money Supply Rule.
Nominal rigidityIn 1936, John Maynard Keynes published The General Theory of Employment, Interest and Money. Within its pages, he described a situation where nominal wages…