A nova síntese neoclássica frente à crise econômica mundial : a volta da política fiscal? / The new neoclassical synthesis in the light of the world economic crisis : the return of fiscal policy?

AUTOR(ES)
FONTE

IBICT - Instituto Brasileiro de Informação em Ciência e Tecnologia

DATA DE PUBLICAÇÃO

31/08/2011

RESUMO

This thesis examines the convergence mainstream macroeconomics thought experienced in the last two decades. New Classicals and New Keynesians have been sharing the same theoretical assumptions and proposing the same kind of economic policy in a consensus which has been called New Neoclassical Synthesis or New Macroeconomics Consensus. The main characteristic of the New Consensus is the execution of monetary policy, by adjusting the benchmark interest rate, as the only macroeconomic policy tool. In this process, fiscal policy is set aside, concerned only with keeping public debt in a stable path to ensure the "economic fundamentals", but with no active role on macroeconomic adjustment policy. However, with 2008 global economic crisis, fiscal policy comes back to the mainstream policy and academic debates. Therefore, this thesis also examines in which sense the crisis presents a change in the prevailing macroeconomic thought with respect to fiscal policy

ASSUNTO(S)

nova síntese neoclássica política fiscal crise econômica new neoclassical synthesis fiscal policy economic crisis

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