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 ...

Keynesian theory’s popularity waned then because it had no appropriate policy response for stagflation. Monetarist economists doubted the ability of governments to regulate the business cycle 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 ...

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.