Joseph Stiglitz & New Keynesian economics - Unionpedia, the concept map

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Difference between Joseph Stiglitz and New Keynesian economics

Joseph Stiglitz vs. New Keynesian economics

Joseph Eugene Stiglitz (born February 9, 1943) is an American New Keynesian economist, a public policy analyst, political activist, and a full professor at Columbia University. New Keynesian economics is a school of macroeconomics that strives to provide microeconomic foundations for Keynesian economics.

American Economic Review

The American Economic Review is a monthly peer-reviewed academic journal first published by the American Economic Association in 1911.

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Carl Shapiro

Carl Shapiro (born March 20, 1955) is an American economist and an academic who serves as the Transamerica Professor of Business Strategy at the University of California, Berkeley, Haas School of Business.

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Efficiency wage

The term efficiency wages (also known as "efficiency earnings") was introduced by Alfred Marshall to denote the wage per efficiency unit of labor.

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Externality

In economics, an externality or external cost is an indirect cost or benefit to an uninvolved third party that arises as an effect of another party's (or parties') activity.

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George Akerlof

George Arthur Akerlof (born June 17, 1940) is an American economist and a university professor at the McCourt School of Public Policy at Georgetown University and Koshland Professor of Economics Emeritus at the University of California, Berkeley.

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Gross domestic product

Gross domestic product (GDP) is a monetary measure of the market value of all the final goods and services produced and rendered in a specific time period by a country or countries.

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International Monetary Fund

The International Monetary Fund (IMF) is a major financial agency of the United Nations, and an international financial institution funded by 190 member countries, with headquarters in Washington, D.C. It is regarded as the global lender of last resort to national governments, and a leading supporter of exchange-rate stability.

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Janet Yellen

Janet Louise Yellen (born August 13, 1946) is an American economist serving as the 78th United States secretary of the treasury since January 26, 2021.

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Laissez-faire

Laissez-faire (or, from laissez faire) is a type of economic system in which transactions between private groups of people are free from any form of economic interventionism (such as subsidies or regulations).

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Liberty Fund

Liberty Fund, Inc. is a nonprofit foundation headquartered in Carmel, Indiana, which promotes the libertarian views of its founder, Pierre F. Goodrich through publishing, conferences, and educational resources.

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Macroeconomics

Macroeconomics is a branch of economics that deals with the performance, structure, behavior, and decision-making of an economy as a whole.

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Market failure

In neoclassical economics, market failure is a situation in which the allocation of goods and services by a free market is not Pareto efficient, often leading to a net loss of economic value.

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Neoclassical economics

Neoclassical economics is an approach to economics in which the production, consumption, and valuation (pricing) of goods and services are observed as driven by the supply and demand model.

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Neoclassical synthesis

The neoclassical synthesis (NCS), neoclassical–Keynesian synthesis,Mankiw, N. Gregory.

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Pareto efficiency

In welfare economics, a Pareto improvement formalizes the idea of an outcome being "better in every possible way".

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Tax

A tax is a mandatory financial charge or some other type of levy imposed on a taxpayer (an individual or legal entity) by a governmental organization to collectively fund government spending, public expenditures, or as a way to regulate and reduce negative externalities.

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The Quarterly Journal of Economics

The Quarterly Journal of Economics is a peer-reviewed academic journal published by the Oxford University Press for the Harvard University Department of Economics.

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World Bank

The World Bank is an international financial institution that provides loans and grants to the governments of low- and middle-income countries for the purpose of pursuing capital projects.

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