Facoltà di scienze economiche

Neoclassical, new classical and new business cycle economics : a critical survey

Cencini, Alvaro

The aim of this paper is not to provide an exhaustive survey of neoclassical, new classical and new business cycle economics. We will instead present a critical evaluation of the major theoretical features shared by these three analytical frameworks, with the explicit purpose of clearing the way for a new macroeconomic approach to macroeconomics. Conceived as the first chapter of a... More

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    Summary
    The aim of this paper is not to provide an exhaustive survey of neoclassical, new classical and new business cycle economics. We will instead present a critical evaluation of the major theoretical features shared by these three analytical frameworks, with the explicit purpose of clearing the way for a new macroeconomic approach to macroeconomics. Conceived as the first chapter of a forthcoming book on the macroeconomic foundations of macroeconomics, the paper is nothing more than an introduction to this problematic issue and has to be seen as a first step towards a more general criticism of mainstream economics.