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- Classical_dichotomy abstract "In macroeconomics, the classical dichotomy refers to an idea attributed to classical and pre-Keynesian economics that real and nominal variables can be analyzed separately. To be precise, an economy exhibits the classical dichotomy if real variables such as output and real interest rates can be completely analyzed without considering what is happening to their nominal counterparts, the money value of output and the interest rate. In particular, this means that real GDP and other real variables can be determined without knowing the level of the nominal money supply or the rate of inflation. An economy exhibits the classical dichotomy if money is neutral, affecting only the price level, not real variables.[citation needed]The classical dichotomy was integral to the thinking of some pre-Keynesian economists ("money as a veil") as a long-run proposition and is found today in new classical theories of macroeconomics. Keynesians and monetarists reject the classical dichotomy, because they argue that prices are sticky. That is, they think prices fail to adjust in the short run, so that an increase in the money supply raises aggregate demand and thus alters real macroeconomic variables. Post-Keynesians reject the classic dichotomy as well, for different reasons, emphasizing the role of banks in creating money, as in monetary circuit theory.".
- Classical_dichotomy wikiPageExternalLink chapter3.pdf.
- Classical_dichotomy wikiPageExternalLink index.html.
- Classical_dichotomy wikiPageID "2952353".
- Classical_dichotomy wikiPageRevisionID "582847966".
- Classical_dichotomy hasPhotoCollection Classical_dichotomy.
- Classical_dichotomy subject Category:Dichotomies.
- Classical_dichotomy subject Category:Economic_theories.
- Classical_dichotomy subject Category:Economics_terminology.
- Classical_dichotomy subject Category:Macroeconomics.
- Classical_dichotomy type Abstraction100002137.
- Classical_dichotomy type Arrangement107938773.
- Classical_dichotomy type Classification107939638.
- Classical_dichotomy type Cognition100023271.
- Classical_dichotomy type Dichotomies.
- Classical_dichotomy type Dichotomy107939880.
- Classical_dichotomy type EconomicTheories.
- Classical_dichotomy type EconomicTheory105994935.
- Classical_dichotomy type Explanation105793000.
- Classical_dichotomy type Group100031264.
- Classical_dichotomy type HigherCognitiveProcess105770664.
- Classical_dichotomy type Process105701363.
- Classical_dichotomy type PsychologicalFeature100023100.
- Classical_dichotomy type Theory105989479.
- Classical_dichotomy type Thinking105770926.
- Classical_dichotomy comment "In macroeconomics, the classical dichotomy refers to an idea attributed to classical and pre-Keynesian economics that real and nominal variables can be analyzed separately. To be precise, an economy exhibits the classical dichotomy if real variables such as output and real interest rates can be completely analyzed without considering what is happening to their nominal counterparts, the money value of output and the interest rate.".
- Classical_dichotomy label "Classical dichotomy".
- Classical_dichotomy label "Dicotomia clássica".
- Classical_dichotomy label "Dicotomía clásica".
- Classical_dichotomy label "Klassieke dichotomie".
- Classical_dichotomy label "Klassische Dichotomie".
- Classical_dichotomy sameAs Klassische_Dichotomie.
- Classical_dichotomy sameAs Dicotomía_clásica.
- Classical_dichotomy sameAs 고전학파의_이분법.
- Classical_dichotomy sameAs Klassieke_dichotomie.
- Classical_dichotomy sameAs Dicotomia_clássica.
- Classical_dichotomy sameAs m.08fsbg.
- Classical_dichotomy sameAs Q1041933.
- Classical_dichotomy sameAs Q1041933.
- Classical_dichotomy sameAs Classical_dichotomy.
- Classical_dichotomy wasDerivedFrom Classical_dichotomy?oldid=582847966.
- Classical_dichotomy isPrimaryTopicOf Classical_dichotomy.