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Author Question: Briefly discuss new growth theory. What will be an ideal response?[br][br][b][color=gray]Question ... (Read 42 times)

vinney12

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on: Jun 30, 2018
Briefly discuss new growth theory.
 
  What will be an ideal response?

Question 2

Explain what is meant by new Keynesians and discuss some of the research conducted in this area.
 
  What will be an ideal response?


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ebonylittles

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Reply #1 on: Jun 30, 2018
Answer to Question 1

New growth theory focuses on the determinants of technological progress and on the extent to which increasing returns to scale might exist.

Answer to Question 2

New Keynesians focus on the implications of market imperfections such as nominal rigidities. This research has also focused on the determination of wages (e.g. efficiency wage theory). Others have focused on menu costs to explain why prices might not adjust as rapidly to clear product markets.


vinney12

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Reply 2 on: Jun 30, 2018
Gracias!

ebonylittles

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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