Keynes and the new Keynesians

Vol. 19 No. 2 (1999)

Apr-Jun / 1999
Published April 1, 1999
PDF-Portuguese (Português (Brasil))
PDF-Portuguese (Português (Brasil))

How to Cite

Sicsú, João. 1999. “Keynes and the New Keynesians”. Brazilian Journal of Political Economy 19 (2):329-49.

Keynes and the new Keynesians

João Sicsú
Professor Adjunto do Departamento de Economia da Universidade Federal Fluminense/UFF, Rio de Janeiro/RJ Brasil.
Brazilian Journal of Political Economy, Vol. 19 No. 2 (1999), Apr-Jun / 1999, Pages 329-349


The article uses Keynes’ ideas to analyze New Keynesian economics, its assumptions
and its most important corollaries. It examines the crucial assumption of New Keynesian
economics: the stickiness of prices and wages. Concluded this analysis, these Keynesian
new-school’s results and methods are criticized. One carries out the conclusion that only
conflicts emerge in the relation between Keynes and New Keynesian economists.

JEL Classification: B22; E12; B41.

Keywords: New Keynesian economics Keynes history of economic thought