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The Newly Development of Macroeconomics:The New Neoclassical Synthesis
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TitleThe Newly Development of Macroeconomics:The New Neoclassical Synthesis  
AuthorGuo Guanqing  
OrganizationInstitute of Economics Chinese Academy of Social Sciences 
Emailggq0808@sina.com 
Key WordsThe New Neoclassical Synthesis; Monetary Policy; New IS Curves; New Philips Curves 
AbstractIn recent years, an emerging new neoclassical synthesis(NNS) appeared in macroeconomics world which integrated advantages of neoclassicism and new Keynesians. This new synthesis has gained universal acceptation in academia. To this change which is called “macroeconomics revolution”, domestic academia almost did not pay attention. This paper tries to give a comprehensive and deep introduction to this newly development of macroeconomics. In addition to providing literature review of formation and development clue of this school, at the micro level, the paper builds an easier-to-understand mathematical model which can embody the characteristics of this school completely and give the modeling derivation process which is hard to understand and often omitted by foreign literature. At the macro level, taking macroeconomics evolution as the main line, the paper summarizes the theory, policy consensus and remaining differences of this school and gives relevant policy suggestions. 
Serial NumberWP255 
Time2012-06-12 
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