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Explore the fundamental principles of New Keynesian economics and how its theories are rigorously tested through calibration. This crucial process involves aligning theoretical macroeconomic models with real-world data, essential for evaluating economic dynamics, forecasting, and informing effective economic policy decisions.

Delve into the profound contributions of Benassy to macroeconomic theory, exploring his influential work on disequilibrium models and New Keynesian economics. This resource provides essential insights into his critical economic analysis, shaping modern understanding of market dynamics and policy implications.