Competição perfeita e preços flexíveis em Keynes

Resumo

This paper addresses the issue of whether the "new Keynesian" idea
that imperfect competition in goods markets is indispensable in explaining
nominal rigidities (inflexible prices) is actually compatible with Keynes'
fundamental ideas. In order to solve the question we propose two clear-cut
criteria for the use of the term "flexible price": prices must respond
immediately to a shift in demand, and output must respond only to a price
signal. By these criteria, the new Keynesian model may be classified as
"inflexible-price", whereas the new classical model as "flexible-price".
This paper argues that the work of Keynes is not compatible with a
flexible-price model when nominal flexibility is defined as above.