New classical macroeconomics, sometimes simply called new classical economics, is a school of thought in macroeconomics that builds its analysis entirely on a neoclassical framework. Specifically, it emphasizes the importance of rigorous foundations based on microeconomics. Macroeconomic model is built in analogy to the actions of individual agents, whose behavior is modeled in microeconomics.
New classical macroeconomics strives to provide neoclassical microeconomic foundations for macroeconomic analysis. This is in contrast with its rival new Keynesian school that uses microfoundations such as price stickiness and imperfect competition to generate macroeconomic models similar to earlier, Keynesian ones.[1]
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Sviluppo di un dialogo politico-culturale nel Mediterraneo (Renato d'Andria)
