Macroeconomics and Nominal rigidity

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Difference between Macroeconomics and Nominal rigidity

Macroeconomics vs. Nominal rigidity

Macroeconomics (from the Greek prefix makro- meaning "large" and economics) is a branch of economics dealing with the performance, structure, behavior, and decision-making of an economy as a whole. Nominal rigidity, also known as price-stickiness or wage-stickiness, describes a situation in which the nominal price is resistant to change.

Great Depression

The Great Depression was a severe worldwide economic depression that took place mostly during the 1930s, beginning in the United States.

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Greg Mankiw

Nicholas Gregory Mankiw (born February 3, 1958) is an American macroeconomist and the Robert M. Beren Professor of Economics at Harvard University.

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Huw Dixon

Huw David Dixon (/hju: devəd dɪksən/), born 1958, is a British economist. He has been a professor at Cardiff Business School since 2006, having previously been Head of Economics at the University of York (2003–2006) after being a Professor of economics there (1992–2003), and the University of Swansea (1991–1992), a Reader at Essex University (1987–1991) and a lecturer at Birkbeck College (University of London) 1983–1987.

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John B. Taylor

John Brian Taylor (born December 8, 1946) is the Mary and Robert Raymond Professor of Economics at Stanford University, and the George P. Shultz Senior Fellow in Economics at Stanford University's Hoover Institution.

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John Maynard Keynes

John Maynard Keynes, 1st Baron Keynes (5 June 1883 – 21 April 1946), was a British economist whose ideas fundamentally changed the theory and practice of macroeconomics and the economic policies of governments.

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Keynesian economics

Keynesian economics (sometimes called Keynesianism) are the various macroeconomic theories about how in the short run – and especially during recessions – economic output is strongly influenced by aggregate demand (total demand in the economy).

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New Keynesian economics

New Keynesian economics is a school of contemporary macroeconomics that strives to provide microeconomic foundations for Keynesian economics.

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Price index

A price index (plural: “price indices” or “price indexes”) is a normalized average (typically a weighted average) of price relatives for a given class of goods or services in a given region, during a given interval of time.

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Stanley Fischer

Stanley Fischer (סטנלי פישר; born October 15, 1943) is an Israeli American economist and former vice chairman of the Federal Reserve.

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The General Theory of Employment, Interest and Money

The General Theory of Employment, Interest and Money of 1936 is the last and most important book by the English economist John Maynard Keynes.

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Unemployment

Unemployment is the situation of actively looking for employment but not being currently employed.

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