nykeynesianska

Nykeynesianska ekonomin, or New Keynesian economics, is a macroeconomic school that emerged in the 1980s as a synthesis of Keynesian ideas with modern microfoundations. It developed in response to criticisms from the new classical and rational expectations traditions, aiming to explain why prices and wages can be sticky and how monetary policy can affect real activity in the short run.

Core ideas center on nominal rigidities and imperfect competition. Price and wage stickiness arise from factors such as menu costs, staggered price setting, and nominal inertia, which prevent instant adjustment to changing conditions. These frictions allow monetary policy to influence output and inflation in the short term, even though long-run relationships tend to move toward a natural level of output. Calvo pricing and other models of price-setting are commonly used to formalize these frictions. New Keynesian models typically employ dynamic stochastic general equilibrium (DSGE) frameworks with optimizing households and firms and rational expectations.

Policy implications emphasize the role of credible and transparent monetary policy in stabilizing inflation and output. By adopting policy rules, such as the Taylor rule, central banks can manage inflation expectations and reduce the costs of fluctuations. Fiscal policy is recognized as potentially stabilizing in certain contexts, but monetary policy is often highlighted as the primary stabilization instrument in standard New Keynesian analyses.

Notable contributors include Michael Woodford, Jordi Galí, Greg Mankiw, and David Romer, among others. The approach remains influential in contemporary macroeconomics, balancing Keynesian intuition about price stickiness with rigorous microfoundations and formal modeling.