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The potted histories of macroeconomics textbooks are typically Keynes-centric. Keynes is credited with founding … classical macroeconomics) to Keynes. The real story is more complicated and involves at least two distinct threads. Keynes was … central. Keynes’s vision of macroeconomics is better described as “medical.” It is based in human psychology and individual …
Persistent link: https://www.econbiz.de/10011122331
This article analyzes Katona's theory of expectations and compares it to that of Keynes and Hicks. It discusses the … that borrows from the epistemology of Keynes. While rediscovering Katona's work, this paper contributes to highlight the …
Persistent link: https://www.econbiz.de/10011194446
capitalist economies. This underrates Keynes’ role as a precursor of modern information economics, and risks losing significant …
Persistent link: https://www.econbiz.de/10011031802
The potted histories of macroeconomics textbooks are typically Keynes-centric. Keynes is credited with founding … classical macroeconomics) to Keynes. The real story is more complicated and involves at least two distinct threads. Keynes was … central. Keynes's vision of macroeconomics is better described as "medical." It is based in human psychology and individual …
Persistent link: https://www.econbiz.de/10011592196
Phillips curve, is also assessed in the light of his own preference, which he shared with Keynes, for a pragmatic Marshallian …
Persistent link: https://www.econbiz.de/10010291906
Phillips curve, is also assessed in the light of his own preference, which he shared with Keynes, for a pragmatic Marshallian …
Persistent link: https://www.econbiz.de/10010681093
Keynes-Tinbergen controversy, it is argued that Keynes' criticism comprises the "Lucas critique," and that it is misleading …
Persistent link: https://www.econbiz.de/10010427458
Keynes-Tinbergen controversy, it is argued that Keynes' criticism comprises the "Lucas critique," and that it is misleading …
Persistent link: https://www.econbiz.de/10005649780
conformity with Keynes s own analysis. Moreover, the eclectic approach to behavioral foundations allows models in this tradition …
Persistent link: https://www.econbiz.de/10011527443
Macroeconomic theory has developed into increasingly sophisticated mathematical models. In the words of Mankiw, macroeconomics has developed from engineering into science. The Global Financial Crisis (GFC) revealed that the empirical relevance and the usefulness of these models is debatable. Why...
Persistent link: https://www.econbiz.de/10012211109