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gptkbp:instanceOf
|
gptkb:school_of_economic_thought
|
|
gptkbp:alsoKnownAs
|
gptkb:New_Classical_Economics
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gptkbp:assumes
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rational agents
efficient markets
flexible prices
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gptkbp:countryOfOrigin
|
gptkb:United_States
|
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gptkbp:criticizedFor
|
Keynesian economists
policy ineffectiveness proposition
assuming perfect information
ignoring price stickiness
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gptkbp:emergedIn
|
1970s
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gptkbp:hasConcept
|
rational expectations
real business cycle theory
market clearing
microfoundations
|
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gptkbp:influencedBy
|
gptkb:Monetarism
gptkb:Neoclassical_economics
Classical economics
|
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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
|
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gptkbp:opposedBy
|
gptkb:Keynesian_economics
|
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gptkbp:publishedIn
|
gptkb:Journal_of_Political_Economy
gptkb:American_Economic_Review
|
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gptkbp:relatedTo
|
gptkb:Real_Business_Cycle_theory
gptkb:New_Keynesian_economics
|
|
gptkbp:theoryOf
|
macroeconomics
|
|
gptkbp:bfsParent
|
gptkb:Chicago_School
|
|
gptkbp:bfsLayer
|
6
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|
https://www.w3.org/2000/01/rdf-schema#label
|
New Classical School
|