Preface to the handbook
The Handbook of Macroeconomics provides a survey of the state of knowledge in the broad area that includes the theories and facts of economic growth and economic fluctuations, as well as the consequences of monetary and fiscal policies for general economic conditions. Macroeconomics underwent a revolution in the 1970's and 1980's, because of the introduction of the methods of rational expectations, dynamic optimization, and general equilibrium analysis into macroeconomic models, to the development of new theories of economic fluctuations, and to the introduction of sophisticated methods for the analysis of economic time series. These developments were both important and exciting. However, the rapid change in methods and theories led to considerable disagreement, especially in the 1980's, as to whether there was any core of common beliefs, even about the defining problems of the subject that united macroeconomists any longer. Both the progress and the focus on substantive problems have led to a situation in macroeconomics where the area of common ground is considerable.
Year of publication: |
1999
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Authors: | Taylor, John B. ; Woodford, Michael |
Published in: |
Handbook of macroeconomics : volume 1, part A. - Amsterdam [u.a.] : Elsevier, ISBN 978-0-444-50156-1. - 1999, p. xi-xiii
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