New Keynesian Doctrine – Microeconomic Foundations and Connection with the Macroeconomic Policy (Novoto Keynsianstvo - Mikroikonomicheski Osnovi i Vrazka s Makroikonomicheskata Politika) - in Bulgarian

Alla Kirova

in ERI-BAS Books from Bulgarian Academy of Sciences - Economic Research Institute

Abstract: The monograph is devoted to an extremely topical issue, related to the development of contemporary economic theory, and in particular to an analysis of the theoretical and practical concepts of the New Keynesian doctrine, positions that have been held hard in the mainstream economics in the end of XX – the beginning of XXI century along with the dominating by then Neo- and New Classical school. The interest towards the New Keynesian doctrine is predetermined on one hand by insufficient extent of its clarification in our economic literature, where it is not presented as an independent subject of study, and on the other hand by a worldwide attention to it, caused under the conditions of the last global financial and economic crisis. The significance of the Keynesian revolution for economic theory, as well as the position of the New Keynesianism in the process of diversification of the Keynesian doctrine is estimated. The prepositions for the rise of the New Keynesian doctrine, its methodological and conceptual statements and models are systematized and analysed. The distinctive features and principles of New Keynesian macroeconomic theory, as well as the views of its representatives in regard to state policy under the conditions of inflexibility of market structures are outlined. Instead of a conclusion, the Bulgarian practice through the prism of the New Keynesian doctrine is analysed. It is concluded that the New Keynesian macroeconomic concept, grounded in the combination of rules with active discretionary actions, “fits” only to a certain, even though insignificant extent, with a design of our macroeconomic policy, and it is possible to use it mostly on the issue on improving of its qualitative characteristics rather than application of related constructive proposals. A systemized bibliography of the publications of the New Keynesians is suggested.

Date: 2010
ISBN: 978-954-644-159
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Persistent link: https://EconPapers.repec.org/RePEc:bas:ecbook:39:p:1-182

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