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Article
Comments on "Integrated Keynesian disequilibrium dynamics"
Journal of Macroeconomics (2006)
  • Peter Skott, University of Massachusetts - Amherst
Abstract
This comment on Asada et al.’s paper discusses the contrast between ‘integrated Keynesian disequilibrium dynamics’ (IKDD) and New Keynesian theory. Two areas are singled out: the treatment of stability issues and the approach to behavioral foundations. IKDD present a sophisticated stability analysis and rightly avoid the New Keynesian obsession with microfoundations based on optimizing behavior. The IKDD program, however, might benefit if behavioral questions were given greater prominence.
Keywords
  • Stability; Behavioral foundations; Integrated Keynesian disequilibrium dynamics; New Keynesian theory
Disciplines
Publication Date
February 24, 2006
Publisher Statement
doi:10.1016/j.jmacro.2005.10.008
Citation Information
Peter Skott. "Comments on "Integrated Keynesian disequilibrium dynamics"" Journal of Macroeconomics Vol. 28 Iss. 1 (2006)
Available at: http://works.bepress.com/peter_skott/61/