文档介绍：Chapter 14
New Classical Theories
0
10
20
30
40
90
91
92
93
94
95
96
97
98
99
00
Introduction to New Classical Theories
Supply Function
Rational Expectations and Criterion
Policy parisons between New Classical and Keynesian Theories
Supply Function
Origin of New Classical Theories
Since 1980s, Keynesianism has been animadvert by neoclassicism macroeconomics
Two leaders of neoclassicism macroeconomics are Rboert Lucas (Chicago university) and T·J·Saygent( Minnesota university,whose books named “rational expectations and econometrics practice” include radical contribute to new classical macroeconomics.
New classical macroeconomics began with ’ magnum opus “Expectations and the Neutrality of Money”, the paper “Understanding business cycles” in 1977.
Supply Function
Market foundation of New Classical Theories
New classicism macroeconomics explains supply behaviors from the viewpoint of perfect information cost, and draw the conclusions about unemployment and inflation from changes of microcosmic corporations
New classicism macroeconomics is based on Walras equilibrium with the character of market clearing, and emphasize drawing macroeconomics conclusions from the point that microcosmic behaviors pursue maximum of the object functions.
New classicism macroeconomics inherit traditions of neoclassicism, and after reviewing the ary theories and policies in the same way of thinking over problems, it conquered drawbacks that arism can not explain recession and employment effectively, so that it has set up a set of macroeconomics theory totally different from Keynesianism.
Supply Function
Market foundation of New Classical Theory
New Classical Theory do not only explain reasons of unemployment and recession and the drawbacks of these scenes, so that is has set up a set of macroeconomics pletely different from Keynesianism.
New Classical Theory emphasized the importance “information” in e