| 1. | Furthermore, some New Keynesian models confirm the non-neutrality of money under several conditions.
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| 2. | Tobin says, " and they still must use modified Keynesian models to do it ."
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| 3. | In the Keynesian model, higher prices will prompt increases in the supply of goods and services.
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| 4. | However, his 1950s reinterpretation of the Keynesian consumption function challenged the standard Keynesian model of that time.
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| 5. | The Calvo model has become the most common way to model nominal rigidity in new Keynesian models.
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| 6. | He said, " There has been justified criticism of the Keynesian model, that it was too Depression-oriented ."
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| 7. | The Keynesian model therefore failed to explain the consumption phenomenon and thus emerged the theory of intertemporal choice.
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| 8. | The Keynesian model accepted by Labour emphasised that planning could be handled indirectly through national spending and tax policies.
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| 9. | RBC models were dynamic but assumed perfect competition; new Keynesian models were primarily static but based on imperfect competition.
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| 10. | Older Keynesian models measured output gaps as the difference between measured output and an ever growing trend of output capacity.
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