Levin, Andrew T.; López-Salido, José David; Nelson, Edward - 2008
microeconomic dissonance, while less prevalent and less appreciated,
underpinned such early contributions to the New Keynesian … the taking-o� of New Keynesian models in the last �fteen years has not been associ-
ated with a major rea� rmation of the … dissonance warning. The modern New Keynesian literature
has typically proceeded under the assumption that observationally …