Keynesian economics

E7217
economic school of thought macroeconomic theory

Keynesian economics is a macroeconomic theory that emphasizes the role of aggregate demand and government intervention in stabilizing economic fluctuations and reducing unemployment.

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All labels observed (8)

Label Occurrences
Keynesian economics canonical 24
Keynesian macroeconomics 3
Keynesian 2

Statements (49)

Predicate Object
instanceOf economic school of thought ⓘ
macroeconomic theory ⓘ
aimsTo reduce unemployment ⓘ
stabilize economic fluctuations ⓘ
appliedIn New Deal ⓘ
surface form: New Deal policies in the United States

postwar European economic policy ⓘ
associatedWith fiscal stimulus packages during recessions ⓘ
stabilization policy frameworks used by many governments ⓘ
assumes involuntary unemployment can exist ⓘ
markets may not clear quickly ⓘ
short-run non-neutrality of money ⓘ
contrastsWith classical economics ⓘ
neoclassical economics ⓘ
coreConcept insufficient aggregate demand causes recessions ⓘ
prices and wages can be sticky ⓘ
short-run output can deviate from potential output ⓘ
criticizedBy New Classical macroeconomics ⓘ
surface form: New classical macroeconomics

monetarism ⓘ
criticizedFor potential for higher inflation ⓘ
reliance on discretionary fiscal policy ⓘ
developedInContextOf Great Depression ⓘ
emphasizes aggregate demand ⓘ
government intervention ⓘ
historicallyDominant macroeconomic framework after World War II ⓘ
influenced New Keynesian economics ⓘ
New Neoclassical Synthesis ⓘ
surface form: New neoclassical synthesis

post-Keynesian economics ⓘ
influencedBy The General Theory of Employment, Interest and Money ⓘ
A Treatise on Money ⓘ
surface form: Treatise on Money
namedAfter John Maynard Keynes ⓘ
policyImplication active stabilization policy ⓘ
countercyclical budget deficits and surpluses ⓘ
importance of demand management ⓘ
supportsPolicy automatic stabilizers ⓘ
countercyclical fiscal policy ⓘ
deficit spending during recessions ⓘ
discretionary fiscal stimulus ⓘ
monetary policy to influence interest rates ⓘ
progressive taxation ⓘ
public works programs ⓘ
unemployment benefits ⓘ
usesConcept IS-LM model ⓘ
aggregate demand curve ⓘ
consumption function ⓘ
liquidity preference ⓘ
marginal propensity to consume ⓘ
multiplier effect ⓘ
output gap ⓘ
viewsBusinessCyclesAs demand-driven fluctuations ⓘ

Referenced by (36)

Full triples — surface form annotated when it differs from this entity's canonical label.

John Maynard Keynes → knownFor → Keynesian economics ⓘ
John Maynard Keynes → influenced → Keynesian economics ⓘ
this entity surface form: Keynesian economic policy
Principles of Political Economy → influenced → Keynesian economics ⓘ
The General Theory of Employment, Interest and Money → relatedConcept → Keynesian economics ⓘ
this entity surface form: Keynesian cross
The General Theory of Employment, Interest and Money → relatedConcept → Keynesian economics ⓘ
this entity surface form: IS–LM model
Public Works Administration (PWA) → economicPolicyType → Keynesian economics ⓘ
subject surface form: Public Works Administration
this entity surface form: Keynesian fiscal stimulus
Nordic model → influencedBy → Keynesian economics ⓘ
Nicholas Kaldor → ideology → Keynesian economics ⓘ
this entity surface form: Keynesianism
The Price of Inequality → influencedBy → Keynesian economics ⓘ
neoclassical economics → contrastedWith → Keynesian economics ⓘ
New Classical macroeconomics → contrastsWith → Keynesian economics ⓘ
this entity surface form: Keynesian macroeconomics
bancor → influencedBy → Keynesian economics ⓘ
subject surface form: Bancor
John B. Taylor → influencedBy → Keynesian economics ⓘ
IS-LM model → relatedConcept → Keynesian economics ⓘ
this entity surface form: Keynesian cross
Nouriel Roubini → influencedBy → Keynesian economics ⓘ
Nouriel Roubini → hasPerspective → Keynesian economics ⓘ
this entity surface form: Keynesian
Full Employment and Free Trade → influencedBy → Keynesian economics ⓘ
Prabhat Patnaik → theoreticalOrientation → Keynesian economics ⓘ
this entity surface form: Keynesian macroeconomics
Federico Caffè → movement → Keynesian economics ⓘ
this entity surface form: Keynesianism
neoclassical synthesis → field → Keynesian economics ⓘ
Economic Policy: Principles and Design → influencedBy → Keynesian economics ⓘ
this entity surface form: Keynesian macroeconomics
Capital and Growth → influencedBy → Keynesian economics ⓘ
Baron Kaldor → fieldOfWork → Keynesian economics ⓘ
subject surface form: Nicholas Kaldor
Baron Kaldor → movement → Keynesian economics ⓘ
subject surface form: Nicholas Kaldor
Michał Kalecki → movement → Keynesian economics ⓘ
James Tobin → influencedBy → Keynesian economics ⓘ
James Tobin → movement → Keynesian economics ⓘ
Christina Romer → influencedBy → Keynesian economics ⓘ
Essays in Persuasion → subject → Keynesian economics ⓘ
Alvin Hansen → fieldOfWork → Keynesian economics ⓘ
Man, Economy, and State → critiques → Keynesian economics ⓘ
Animal Spirits → hasPerspective → Keynesian economics ⓘ
this entity surface form: Keynesian
The New Industrial State → influencedBy → Keynesian economics ⓘ
American Capitalism → influencedBy → Keynesian economics ⓘ
Georgieva → influencedBy → Keynesian economics ⓘ
subject surface form: Kristalina Georgieva
Takahashi Korekiyo → movement → Keynesian economics ⓘ