Reflections on the Development of Modern MacroeconomicsMacroeconomic analysis has undergone profound and controversial changes during the past twenty-five years and, as such, economists have developed and evolved their approaches to the discipline. Reflections on the Development of Modern Macroeconomics presents a collection of eight original essays, from leading scholars, each of which focuses on an important issue relating to these developments. These accessible, reflective surveys include:
This book will attract a wide readership among intermediate undergraduates, as well as postgraduates and lecturers in the fields of macroeconomics and the history of economic thought. |
Contents
The rhetoric and methodology of modern macroeconomics | 31 |
How relevant is Keynesian economics today? | 55 |
What remains of the monetarist counterrevolution? | 78 |
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Common terms and phrases
adaptive expectations agents aggregate demand aggregate supply aggregate supply curve Alesina analysis argued argument assumption Barro behaviour Brunner budget business cycle model business cycle theory Cambridge cent central bank changes competitive equilibrium constraint consumption debate demand for money econometric economists effect election empirical equations example Figure firm fiscal fluctuations Friedman growth rate Hence household hypothesis imperfect competition implications income increase inflation interest rate investment issue Journal of Economic Journal of Political Keynes Keynes's Keynesian economics Keynesian models Kydland labour market level of output long-run Lucas critique Mankiw marginal Meltzer menu costs Milton monetarism monetarist Monetary Economics monetary policy money supply multiplier natural rate Nordhaus optimal outcome output and employment parameters period Phillips curve political business cycle Political Economy politicians Prescott price level problem quantity theory rational expectations real business cycle real wage result rhetoric Romer Say's Law shocks short-run stylized facts unemployment variables voters Walrasian
References to this book
Competing Economic Theories: Essays in Memory of Giovanni Caravale Sergio Nisticò,Domenico A. Tosato No preview available - 2002 |