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School of macroeconomics focusing on microeconomic foundations for Keynesian economics; assumes that households/firms have rational expectations but states that market failures cause Keynesian phenomena
New Keynesian economics is a school of macroeconomics that strives to provide microeconomic foundations for Keynesian economics. It developed partly as a response to criticisms of Keynesian macroeconomics by adherents of new classical macroeconomics. Two main assumptions define the New Keynesian approach to macroeconomics. Like the New Classical approach, New Keynesian macroeconomic analysis usual... Wikipedia