Post Keynesian Dynamic Stochastic General Equilibrium Theory

Roger Farmer

No 23109, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: This paper explains the connection between ideas developed in my recent books and papers and those of economists who self-identify as Post Keynesians. My own work is both neoclassical and ‘old Keynesian’. Much of my published work assumes that people have rational expectations and that ‘animal spirits’ should be modeled as a new fundamental. I adopt a general equilibrium framework to model the macroeconomy. But although I write from a neo-classical tradition the themes I explore in my published writing have much in common with heterodox economics. This paper explains the common elements between these seemingly disparate traditions. I make the case for unity between Post-Keynesian and General Equilibrium Theory under the banner of Post-Keynesian Dynamic Stochastic General Equilibrium Theory.

JEL-codes: E0 E12 (search for similar items in EconPapers)
Date: 2017-01
New Economics Papers: this item is included in nep-dge, nep-hpe, nep-mac and nep-pke
Note: EFG IFM POL
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (11)

Published as Roger E.A. Farmer, 2017. "Post-Keynesian dynamic stochastic general equilibrium theory," European Journal of Economics and Economic Policies: Intervention, vol 14(2), pages 173-185.

Downloads: (external link)
http://www.nber.org/papers/w23109.pdf (application/pdf)

Related works:
Journal Article: Post-Keynesian dynamic stochastic general equilibrium theory (2017)
Working Paper: Post Keynesian Dynamic Stochastic General Equilibrium Theory (2017)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:nbr:nberwo:23109

Ordering information: This working paper can be ordered from
http://www.nber.org/papers/w23109

Access Statistics for this paper

More papers in NBER Working Papers from National Bureau of Economic Research, Inc National Bureau of Economic Research, 1050 Massachusetts Avenue Cambridge, MA 02138, U.S.A.. Contact information at EDIRC.
Bibliographic data for series maintained by ().