New classical economic school

a scientific school that bases the analysis of economic fluctuations on the assumptions of the classical model of price flexibility and money neutrality. The new classical school combines the theory of economic fluctuations, the theory of the real economic cycle, the theory of rational expectations, the so-called "criticism of Lucas". It is customary to refer to this theory any short-term economic models with flexible prices. The main representatives of the new school: K. Menger, F. Wieser, E. Behm-Bawerk, W. Jevons, L. Val-ras, V. Paretto, J. Clark, A. Marshall. J. Hicks, F. Hayek, J. Mil, R. Solow belong to the modern representatives of this school.