The Reincarnation of Keynesian Economics
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NBER Working Paper No. 3885 (Also Reprint No. r1736)
Issued in July 1992
NBER Program(s): ME EFG
This paper discusses the reemergence of Keynesian economics during the past decade. It highlights the substantial differences between new Keynesian economics and the convictions of early Keynesians. In particular, it points out that new Keynesians have adopted many views that were once considered "monetarist" or "classical." It concludes that the term "Keynesian" may have outlived its usefulness.
Published: European Economic Review, Vol. 36, pp. 559-565, (1992).
This paper is available as PDF (110 K) or DjVu (66 K) (Download viewer) or via email.
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