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Other Papers on :Politico-Economic Theories

P/P/264. Theoretical approaches to macroeconomic models

(2006, 2000 words)

The paper reviews the rational expectation hypothesis (REH) introduced by Robert Lucas and the main concepts of the New Classical Economics (NCE) challenging the Keynesian theory and discussing the nature of monetarism, the policy ineffectiveness proposition, etc. Theoretical visions of economic systems are discussed.



 
   
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