new classical economics

Definition

Body of macroeconomic thought based on the role of rational economic agents and the theory of rational expectations, emerging during the 1970s. It is characterized by an extreme form of monetarism which argues that demand-management intervention by governments is ineffective even in the short run, and instead advocates far reaching tax cuts. It is based largely on the ideas of the US economists John Muth (1930-2005) and 1995 Nobel laureate Robert Lucas, Jr. (born 1937), and the co-recipients of 2004 Nobel prize in economics - US economist Edward Prescott (born 1940) and Norwegian economist Finn Kydland (born 1943). Not to be confused with neo classical economics.

单词	new classical economics
释义	new classical economics Definition Body of macroeconomic thought based on the role of rational economic agents and the theory of rational expectations, emerging during the 1970s. It is characterized by an extreme form of monetarism which argues that demand-management intervention by governments is ineffective even in the short run, and instead advocates far reaching tax cuts. It is based largely on the ideas of the US economists John Muth (1930-2005) and 1995 Nobel laureate Robert Lucas, Jr. (born 1937), and the co-recipients of 2004 Nobel prize in economics - US economist Edward Prescott (born 1940) and Norwegian economist Finn Kydland (born 1943). Not to be confused with neo classical economics.
随便看	expenditure approach expenditure-based budget expenditure method expenditure variance expense account expense allowance expense behavior expense center expense constant expense loading expense ratio expense recognition expense recovery expense reimbursement allowance expense report expense reserve expenses and losses expense stop expensing experian experience experience curve experience dividend experienced mortality experience modification