of modern macroeconomics: its emergence after the publication of Keynes’s General Theory, the heydays of Keynesian …

Keynes’s General Theory is indeed microfounded in this sense, although no single conclusion can be drawn for Keynesian models …

present its main results. I start by characteristing Keynes’s programme as consisting of the following four elements : 1 …, coordination failures and imperfect competition) have succeeded in achieving Keynes’s programme. My conclusion is that they all …

) and Roberts (1987) have fared against ‘Keynes’s programme’. The first part of the paper characterises Keyne’s programme as … involuntary unemployment. In a second part, I claim that no correct assessment of Keynes’s programme can be made without drawing a … study of the three models to conclude that none of them succeed in achieving Keynes ‘ programme in its entirety. In the last …

The aim of this paper is to examine critically Lucas’ arguments against Keynes’s General Theory and in particular … against Keynes’s concept of involuntary unemployment. It comprises two main parts. In the first, I question Lucas’s claim that … Keynes betrayed the equilibrium discipline by freeing himself from the postulates of optimising behaviour and market clearing …