Keynesian economics is a macroeconomic theory of total spending in the ... monetarism emphasizes the use of monetary policy over fiscal policy to manage aggregate demand, which contrasts with ...

This paper employs a two-country New Keynesian DSGE model to assess the macroeconomic impact of the changes in monetary policy frameworks and the fiscal support in the U.S. and euro area during the ...

This paper considers the optimal degree of discretion in monetary policy when the central bank conducts policy ... and the central bank takes these restrictions and the New Keynesian Phillips curve as ...

Keynesian economics is a theory whose premise ... it can do so via economic stimulus in the form of cash handouts or via fiscal or monetary policy measures.

We develop a microfounded New Keynesian model to analyze monetary policy and financial stability issues in open economies with financial fragilities and weakly anchored inflation expectations. We show ...

Accompanying fiscal expansion with accommodating monetary policy A second important point ... carried out within a standard new-Keynesian model. Specifically, we track the macroeconomic ...

This book argues that the behavioural patterns of the monetary system in such economies are better aligned with classical economic theory than with Keynesian ... policy and optimal fiscal policy.

Keynesian economics comes from economist John Maynard Keynes, author of the 1936 book "The General Theory of Employment ... They argue monetary policy intended to stimulate instead creates ...

His theories on the free market directly opposed the dominant model of Keynesian economics, which proposed that fiscal policy was more important than monetary policy, and government spending should ...