Research on the new Keynesian and monetarist economists’ responses to the 2008 financial crisis in the USA
DOI:
https://doi.org/10.54691/bcpbm.v23i.1353Keywords:
New Keynesian, Monetarist economists, Financial crisis, USA.Abstract
This article’s main topic is How New Keynesian and monetary response to most countries’ business cycle recession. The purpose of choosing this topic is to study how new Keynesian and monetarist economists respond to the 2008 financial crisis in the USA by an easy way from definition-model-reality to analyze the question. Using a case study and comparative analysis, this paper research Model explanations of the Great Recession in different methods and causes of the great recession from 2007 to 2009. Moreover, this paper shows that the primary distinction between new Keynesian and monetarist approaches to the Great Recession is the use of the government budget and money supply. Finally, through the data and results this paper obtained, readers may have a clearer understanding of the practicability of these two theories so that they can make a better choice according to the real situation. In addition, it lets the readers understand the question and provide more research information for the researchers in the future.
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