Sign In
Not register? Register Now!
Essay Available:
Pages:
1 page/≈275 words
Sources:
Check Instructions
Style:
APA
Subject:
Business & Marketing
Type:
Essay
Language:
English (U.S.)
Document:
MS Word
Date:
Total cost:
$ 4.86
Topic:

Article Discussion on National economic status

Essay Instructions:

Please provide comments on the attached article.
The attached article is relatively old now (over 10 years old), but it provides a good description of where we are today in terms of macroeconomic modeling. Basically, the New Keynesian framework is essentially the 'norm' among the majority of economists, with some RBC model true believers out there (such as Williamson, the author of our text).
Does the New Keynesian model gets us where we want to be in terms of models? Alternatively, do we need a revolution similar to what Keynes provided after the Great Depression? Is there anything that should be done to make these models better, particularly given the events of the Global Financial Crisis?
Your objective should be to understand the ‘main objectives’ or ‘takeaways’ of the article.

Essay Sample Content Preview:

Macro Models
Name
Instructor
Course
Date
Macro Models
National economic status is determined by macroeconomics. It involves all the aggregates and the totalities of all the economic aspects as a whole. Employment and income are the main areas of interest in macroeconomics since they are the subject matter of the nation’s economy. This discussion is on the current macro model status, basically with the new Keynesian model, which is common among most economists with some real business-cycle (RBC) true believers.
The state of current macroeconomics is appealing as there has been great progress. Over the past 25years, macroeconomics has undergone evolution to reach high levels. Most of the success has been through the use of frictionless assumptions, which greatly boosted the general economy of most nations. Priceless friction by the Keynesian synthesis is one the greatest ideas; injecting money into the economy, the less money is available to chase goods. The remaining amount in the economy creates pressure among the firms, eventually raising the prices of commodities. Frictionless ma...
Updated on
Get the Whole Paper!
Not exactly what you need?
Do you need a custom essay? Order right now:
Order

You Might Also Like Other Topics Related to great depression:

HIRE A WRITER FROM $11.95 / PAGE
ORDER WITH 15% DISCOUNT!
Order Now