Quarterly Journal of Austrian Economics
Author:
Guido Zimmermann
Online Publish Date:
Volume 6, No. 4 (Winter 2003) As Paul Samuelson once put it: Adam Smith is dead and Keynes is dead; well—and Mises is dead, too. But Keynesianism is alive and well and back with a vengeance. Built on solid neoclassical foundations, this “new” Keynesianism , which features the effects of nominal rigidities in the presence of economic