New Classical and New Keynesian Models of Business Cycles
A presentation of simple, but complete, New Classical and New Keynesian models of the economy and business cycles that illustrate the central force behind fluctuations in each. Theoretical and statistical arguments for and against each model are discussed.
Suggested citation: Kades, Eric. “New Classical and New Keynesian Models of Business Cycles,” Federal Reserve Bank of Cleveland, Economic Review, vol. 21, no. 4, pp. 20-34, 12.01.1985.