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The monetary economy and the economic crisis
Laidler, David - 2010
Adam Smith's ideas about the invisible hand, was a major contribution to an ongoing tradition in monetary theory in whose …
Persistent link: https://www.econbiz.de/10010291902
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The young Lamfalussy: an empirical and policy-oriented growth theorist
Maes, Ivo - 2009
career as an academic, focusing on growth theory and Belgian and European growth patterns in the post-war period. His work is … eclectic approach towards economics, blending economic theory and empirical data beautifully to elucidate crucial policy …
Persistent link: https://www.econbiz.de/10011506683
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Lucas on the relationship between theory and ideology
De Vroey, Michel - 2010
. Particular attention is paid to his views on the relationship between theory and ideology. I start by setting out Lucas's non …-standard conception of theory: to him, a theory and a model are the same thing. I also explore the different facets and implications of … 'non-interference' precept (the proposition that ideological viewpoints should not influence theory), and the 'non …
Persistent link: https://www.econbiz.de/10010303837
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Lucas on the relationship between theory and ideology
De Vroey, Michel - In: Economics: The Open-Access, Open-Assessment E-Journal 5 (2011) 2011-4, pp. 1-39
. Particular attention is paid to his views on the relationship between theory and ideology. I start by setting out Lucas's non …-standard conception of theory: to him, a theory and a model are the same thing. I also explore the different facets and implications of … 'non-interference' precept (the proposition that ideological viewpoints should not influence theory), and the 'non …
Persistent link: https://www.econbiz.de/10010304313
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Getting rid of Keynes? A survey of the history of macroeconomics from Keynes to Lucas and beyond
De Vroey, Michel - 2010
macroeconomics. The paper ends with a few remarks about the impact of the present crisis on the development of macroeconomic theory …
Persistent link: https://www.econbiz.de/10011506707
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The spread of Keynesian economics: a comparison of the Belgian and Italian experiences
Maes, Ivo - 2007
Keynesian economics dominated economic thought and macroeconomic policy-making in the 1950s and 1960s. However, the diffusion of Keynesian economics has been uneven. In this paper, we compare the spread of Keynesian economics in two continental European countries: Belgium and Italy. We focus on...
Persistent link: https://www.econbiz.de/10011506634
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Back to Keynes?
van der Ploeg, Frederick - 2005
After a brief review of classical, Keynesian, New Classical and New Keynesian theories of macroeconomic policy, we assess whether New Keynesian Economics captures the quintessential features stressed by J.M. Keynes. Particular attention is paid to Keynesian features omitted in New Keynesian...
Persistent link: https://www.econbiz.de/10010261154
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Teaching macroeconomics after the crisis
Bofinger, Peter - 2011
It is often said that after the crisis economic textbooks have to be rewritten. However, as surveys show, almost all professors continue using the standard IS-LM/AS-AD model as the workhorse for undergraduate training. This paper shows that the IS-LM/AS-AD model is not only full of obvious...
Persistent link: https://www.econbiz.de/10010308227
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Near-rationality and inflation in two monetary regimes
Ball, Laurence - 2000
Sticky-price models with rational expectations fail to capture the inertia in US inflation Models with backward-looking expectations capture current inflation behavior but are unlikely to fit other monetary regimes This paper seeks to overcome these problems with a near-rational model of...
Persistent link: https://www.econbiz.de/10010293488
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Optimal Monetary Policy in an Optimizing Stochastic Dynamic Model with Sticky Prices
Gail, Michael - 2000
Recently macroeconomic researchers have begun studying models of optimal monetary policy within the Real Business Cycle (RBC) framework. A standard RBC model is augmented by New Keynesian elements like sticky prices and monopolistically competitive firms. The monetary authority acts as a social...
Persistent link: https://www.econbiz.de/10010322062