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 Keynes?s programme as consisting of the following four objectives: (a)...

[eng] Economic Liberalisms and the Crisis. . The emergence of the crisis has given a new impetus to the criticism of economic liberalism. My claim in this paper is that such criticisms will be to no avail as long as the idea of liberalism remains homogenous. It should rather be considered that...

[eng] The Evolution of Macroeconomic Theory and Modelling Along the Last Fifty Years. An outline of the evolution from the birth up to present days of the macroeconomics is laid out, its emergence during the thirties, then the period of the domination of the Keynesian macroeconomics of the years...

The highly regarded contributors to the book argue that the standard narrative of microfoundations is likely to be unreliable. They therefore re-examine the history of the relationship of microeconomics and macroeconomics, starting from their emergence as self-consciously distinct fields within...

Academic macroeconomics as it has been practiced for the last three decades has a bad reputation, especially after the onset of the 2008 recession. The aim of this paper is to reflect on this state of affairs. To begin, I draw a comparison between Keynesian and Lucasian macroeconomics, bringing...

In this response to Mark Hayes's criticism of his article, 'Lucas on involuntary unemployment', the author insists on the need to draw a distinction between labour rationing (a market outcome) and unemployment (the activity of job seeking). Economic theory is mainly concerned with the former....

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 part of the paper, the author questions Lucas's claim that Keynes betrayed the...