Macroeconomic Schools' Response to the Economic Crisis

The November 2009 issue of Liber 8, a newsletter from the Federal Reserve Bank of St. Louis, contains a brief article entitled "How Would Modern Macroeconomic Schools of Thought Respond to the Recent Economic Crisis?"  Written by Michelle T. Armesto, Senior Research Associate,  the article examines how three modern schools of economic thought (the New Keynesian, the Monetarist, and the New Classical) might approach the current economic crisis. Armesto also provides an online bibliography of recent articles and further resources about schools of economic thought.