New classical macroeconomic theory and fiscal rules: some methodological problems
This paper evaluates the theoretical basis of New Classical Macroeconomics (NCM) in general, and in particular the basis of one of NCM's main policy conclusions, namely fiscal rules. We analyse NCM in terms of its assumptions of market clearing and rational expectations formations and show how...
| Main Authors: | , |
|---|---|
| Format: | Journal article |
| Language: | English |
| Published: |
Oxford University Press
1997
|
| Subjects: |