New Keynesian economics (Q936174)
school of macroeconomics focusing on microeconomic foundations for Keynesian economics; assumes that households/firms have rational expectations but states that market failures (e.g. imperfect competition in prices/wages) cause Keynesian phenomena
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description school of macroeconomics focusing on microeconomic foundations for Keynesian economics; assumes that households/firms have rational expectations but states that market failures (e.g. imperfect competition in prices/wages) cause Keynesian phenomena

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