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New classical and Austrian business cycle theory : is there a difference?.
Scheide, Joachim - Kiel Institute for the World Economy - 1986
Persistent link: https://www.econbiz.de/10008520202
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Wirtschaftsnobelpreis 1995 für Robert E. Lucas
Schreiber, Carsten - In: ifo Dresden berichtet 02 (1995) 06, pp. 34-35
Der Bericht stellt den Wirtschaftsnobelpreis 1995 für Robert E. Lucas zur Diskussion. Dabei wird die Entwicklung der Forschungsinhalte des Preisträgers gewürdigt. Bekanntgeworden ist Robert Lucas in den siebziger Jahren neben der Übertragung der rationalen Erwartungen auf die Makroökonomik...
Persistent link: https://www.econbiz.de/10005037085
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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), 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/10008871284
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Privileging Micro over Macro? A History of Conflicting Positions
Duarte, Pedro Garcia; Lima, Gilberto Tadeu - Departamento de Economia, Faculdade de Economia, … - 2011
Mainstream macroeconomists agree that we live in the age of microfoundations. The recent worldwide financial crisis may have emboldened critics of this microfoundational orthodoxy, but it remains the dominant view that macroeconomic models must go beyond supply and demand functions to the level...
Persistent link: https://www.econbiz.de/10010765485
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Milton Friedmans economics and political economy: an old Keynesian critique
Palley, Thomas I. - Institut für Makroökonomie und Konjunkturforschung … - 2014
Milton Friedman's influence on the economics profession has been enormous. In part, his success was due to political forces that have made neoliberalism the dominant global ideology, but Friedman also rode those forces and contributed to them. Friedman's professional triumph is testament to the...
Persistent link: https://www.econbiz.de/10010858914
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The Role of Behavioral Models in the Ontological Structure of Modern Macroeconomics
M. Likhachev. - In: VOPROSY ECONOMIKI 7 (2013)
Behavioral models are considered in the paper as the link between the description of the institutional structure of the economic system and the formation of macro-aggregates, reflecting the results of its operations. The degree of homogeneity of the private sector’s economic environment and...
Persistent link: https://www.econbiz.de/10010860868
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The unfortunate uselessness of most ’state of the art’ academic monetary economics
Buiter, Willem - Volkswirtschaftliche Fakultät, … - 2009
Standard macroeconomic theory did not help foresee the crisis, nor has it helped understand it or craft solutions. This …
Persistent link: https://www.econbiz.de/10011111291
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Observing Shocks
Duarte, Pedro Garcia; Hoover, Kevin D. - In: History of Political Economy 44 (2012) 5, pp. 226-249
Macroeconomists have observed business cycle fluctuations over time by constructing and manipulating models in which shocks have increasingly played a greater role. Shock is a term of art that pervades modern economics appearing in nearly one-quarter of all journal articles in economics and in...
Persistent link: https://www.econbiz.de/10010603487
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Lucas on the relationship between theory and ideology
De Vroey, Michel - Institut für Weltwirtschaft (IfW) - 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/10008805013
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Milton Friedmans economics and political economy: an old Keynesian critique
Palley, Thomas I. - Institut für Makroökonomie und Konjunkturforschung … - 2014
Milton Friedman's influence on the economics profession has been enormous. In part, his success was due to political forces that have made neoliberalism the dominant global ideology, but Friedman also rode those forces and contributed to them. Friedman's professional triumph is testament to the...
Persistent link: https://www.econbiz.de/10010889937