|
gptkbp:instanceOf
|
school of economic thought
|
|
gptkbp:alsoKnownAs
|
gptkb:New_Classical_Economics
|
|
gptkbp:assumes
|
rational agents
efficient markets
flexible prices
|
|
gptkbp:countryOfOrigin
|
gptkb:United_States
|
|
gptkbp:criticizedFor
|
Keynesian economists
policy ineffectiveness proposition
assuming perfect information
ignoring price stickiness
|
|
gptkbp:emergedIn
|
1970s
|
|
gptkbp:hasConcept
|
rational expectations
real business cycle theory
market clearing
microfoundations
|
|
https://www.w3.org/2000/01/rdf-schema#label
|
New Classical School
|
|
gptkbp:influencedBy
|
gptkb:Monetarism
gptkb:Neoclassical_economics
Classical economics
|
|
gptkbp:mainProponent
|
gptkb:Edward_Prescott
gptkb:Robert_Lucas_Jr.
gptkb:Thomas_Sargent
gptkb:Robert_Barro
|
|
gptkbp:notableWork
|
gptkb:Lucas_critique
Expectations and the Neutrality of Money
Time to Build and Aggregate Fluctuations
|
|
gptkbp:opposedBy
|
gptkb:Keynesian_economics
|
|
gptkbp:publishedIn
|
gptkb:Journal_of_Political_Economy
gptkb:American_Economic_Review
|
|
gptkbp:relatedTo
|
gptkb:Real_Business_Cycle_theory
gptkb:New_Keynesian_economics
|
|
gptkbp:theoryOf
|
macroeconomics
|
|
gptkbp:bfsParent
|
gptkb:Chicago_School
|
|
gptkbp:bfsLayer
|
6
|