caa a22 4500 463158431 CHVBK 20180406164740.0 cr unu---uuuuu 170326e20070801xx s 000 0 eng 10.1007/s10258-007-0019-8 doi (NATIONALLICENCE)springer-10.1007/s10258-007-0019-8 Saroliya Gaurav Deparment of Economics and Related Studies, University of York, York, UK aut The New Keynesian business cycle achievements and challenges [Elektronische Daten] [Gaurav Saroliya] The New-Keynesian (NK) business cycle model has presented itself as a potential "workhorse” model for business cycle analysis. This paper seeks to assess afresh the performance of the baseline NK model and its various extensions. The main theme of the paper is that although the dynamic NK literature has secured a robust defence to criticism arising, inter alia, on account of lack of microfoundations, it still has a long way to go in terms of providing a fully satisfactory model of the business cycle. In this regard, it is conjectured that explicitly accounting for the role of heterogeneity in business-cycle dynamics could lead towards a viable solution. Springer-Verlag, 2007 New Keynesian nationallicence Business cycle nationallicence Heterogeneity nationallicence Portuguese Economic Journal Springer-Verlag 6/2(2007-08-01), 95-116 1617-982X 6:2<95 2007 6 10258 https://doi.org/10.1007/s10258-007-0019-8 text/html Onlinezugriff via DOI 1 research-article jats NATIONALLICENCE 856 40 https://doi.org/10.1007/s10258-007-0019-8 text/html Onlinezugriff via DOI NATIONALLICENCE 100 1- Saroliya Gaurav Deparment of Economics and Related Studies, University of York, York, UK aut NATIONALLICENCE 773 0- Portuguese Economic Journal Springer-Verlag 6/2(2007-08-01), 95-116 1617-982X 6:2<95 2007 6 10258 Metadata rights reserved Springer special CC-BY-NC licence nationallicence BK010053 XK010053 XK010000 NATIONALLICENCE NATIONALLICENCE NL-springer