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Original scientific paper

Theses on Neutrality of Economic Policies in the Neoclassical Macroeconomy

Luka Brkić ; Faculty of Political Science, University of Zagreb, Zagreb, Croatia


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page 99-108

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Abstract

The author analyses fundamental concepts of the school of rational expectations (RATEX, an offspring of the Chicago school of economics). Theoretical foundations of the neoclassical macroeconomy are set out: the hypothesis of rational expectations in the circumstances of perfect competition and the principle of strategic interdependence. Central to that are the hypotheses of variants, misallocation of resources and neutrality of economic policy. Outlined are rent-seeking and direct unproductive-profit seeking as well as alternative models in the new theoretical economy: economic constitutionalism, deficitarians, the theory of political business cycles, supply side economics.

Keywords

Hrčak ID:

110975

URI

https://hrcak.srce.hr/110975

Publication date:

5.9.1994.

Article data in other languages: croatian

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