This paper is a contribution to the forthcoming Edward Elgar Handbook of the History of Economic Analysis volume edited by Gilbert Faccarello and Heinz Kurz. Its aim is to introduce the reader to the main episodes that have marked the course of modern macroeconomics: its emergence after the...

It is often argued that what marks the difference between Keynesian macroeconomics and new classical macroeconomics (the first installment of dynamic stochastic general equilibrium models) is the presence of microfoundations. These are deemed to be absent in the Keynesian approach, but central...

This paper addresses the issue of why Keynesian economists have had such a hard time in giving the concept of involuntary unemployment a place in economic theory. Is the gradual demise of this concept a manifestation of some inner defect in economic theory or is it due to some intrinsic weakness...

The aim of this paper is to assess how three seminal coordination failure models (Diamond ((1982)1991), Howitt (1985) and Roberts (1987) have fared against ‘Keynes’s programme’. The first part of the paper characterises Keyne’s programme as consisting of the following four objectives :...

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...

Notre analyse de la coordination inter-individuelle dans la controverse Hayek-Keynes nous permet de distinguer deux types de problème de coordination. Le problème de coordination au sens de Hayek est temporaire. Il est la conséquence de chocs informationnels exogènes perturbant les...

Cet article revient sur les liens entre la loi psychologique fondamentale de Keynes et la théorie du choix intertemporel. Nous démontrons dans un modèle de choix intertemporel à deux périodes que dès lors que l'utilité est additivement intertemporellement séparable la loi psychologique...