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The potted histories of macroeconomics textbooks are typically Keynes-centric. Keynes is credited with founding macroeconomics, and the central developments in the field through the early 1970s, including large-scale macroeconometric models are usually termed "Keynesian." The story of...
Persistent link: https://www.econbiz.de/10011708002
During the late-1940s and the early-1950s Milton Friedman favored a rule under which fiscal policy would be used to generate changes in the money supply with the aim of stabilizing output at full employment. He believed that the economy is inherently unstable because of endogenous movements in...
Persistent link: https://www.econbiz.de/10011606920
This paper examines the relationship of the monetary economics of James Tobin to modern monetary theory, which has …’s series on Great Thinkers in Economics. …
Persistent link: https://www.econbiz.de/10011639321
I examine John Maynard Keynes' struggle with the doctrine of the classical forced saving during the period 1924-1936 from when he worked on A Treatise on Money to the completion of his General Theory. The forced saving notion has been developed as a key mechanism of how monetary expansion...
Persistent link: https://www.econbiz.de/10011707330
The current COVID-19 pandemic has attracted significant attention from epidemiologists and economists alike. This … differs from the 1918-19 Spanish Influenza pandemic, when academic economists hardly paid attention to its economic features …, despite its very high mortality toll. We examine the reasons for that, by contrasting the ways epidemiologists and economists …
Persistent link: https://www.econbiz.de/10012436091
Robert W. Clower's article "The Keynesian Counter - Revolution: A Theoretical Appraisal" (1965) deeply influenced the course of Keynesian macroeconomics by contributing to the transition from IS/LM macroeconomics to fix - price theories. Des pite this influence, no scholar proposed to explain...
Persistent link: https://www.econbiz.de/10011602774
economists associated with various research traditions, going from the neo-classical synthesis in the 1960s, the New Classical … Economics in the 1970s and the New Keynesianism in the 1980s. …
Persistent link: https://www.econbiz.de/10011706942
course of modern monetary economics. On the one hand, it revealed the deadlocks of Don Patinkin's project to integrate … disequilibrium monetary theory. Fourth, such a project failed because of Clower's (1965) approach to disequilibrium economics. …
Persistent link: https://www.econbiz.de/10011609470
mainstream of the field. Three approaches to the history of women and economics are delineated: making visible women economists …This essay is the introduction to the History of Political Economy Annual Supplement on “Women and Economics: New … Historical Perspectives.” We first reflect on the historiography of economics and the relative absence of women and gender in the …
Persistent link: https://www.econbiz.de/10012819614
and went on to study institutions, helping to establish the New Institutional Economics. His political theory evolved with …
Persistent link: https://www.econbiz.de/10011979265