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Macroeconomics in crisis and macroeconomics in recovery
Roncaglia, Alessandro - In: PSL Quarterly Review 64 (2011) 257, pp. 167-185
The financial and economic crisis brings to a reconsideration of macroeconomics: as it happened in the past, after the … subsequent oil crisis. A brief critical survey of mainstream macroeconomics (the neoclassical synthesis and its variants, and its …
Persistent link: https://www.econbiz.de/10009193276
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Short-run macro after the crisis : the end of the "new" neoclassical synthesis?
Landmann, Oliver - 2014 - Rev.
The Financial Crisis of 2008, and the Great Recession in its wake, have shaken up macroeconomics. The paradigm of the …, fails to capture key elements of the recent crisis. This paper reviews the current reappraisal of the paradigm in the light … of the history of macroeconomic thought. Twice in the past 80 years, a major macroeconomic crisis led to the breakthrough …
Persistent link: https://www.econbiz.de/10010242840
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Lucas, Keynes, and the crisis
Laidler, David - 2009
This paper examines Robert E. Lucas's views on the relationship of macroeconomics to real world economic phenomena, and on Keynes's place in its history, suggesting that these stem from a particular and debatable understanding of how the subdiscipline has evolved. It considers some implications...
Persistent link: https://www.econbiz.de/10010292008
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Lucas, Keynes, and the Crisis
Laidler, David - University of Western Ontario, Department of Economics - 2009
This paper examines Robert E. Lucas's views on the relationship of macroeconomics to real world economic phenomena, and on Keynes's place in its history, suggesting that these stem from a particular and debatable understanding of how the subdiscipline has evolved. It considers some implications...
Persistent link: https://www.econbiz.de/10005039609
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Macroeconomics in Crisis and Macroeconomics in Recovery
Roncaglia, Alessandro - 2012
The financial and economic crisis brings to a reconsideration of macroeconomics: as it happened in the past, after the … subsequent oil crisis. A brief critical survey of mainstream macroeconomics (the neoclassical synthesis and its variants, and its …
Persistent link: https://www.econbiz.de/10013113966
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Macroeconomie in Crisi E Macroeconomie in Ripresa (Macroeconomics in Crisis and Macroeconomics in Recovery) (in Italian)
Roncaglia, Alessandro - 2011
The financial and economic crisis brings to a reconsideration of macroeconomics: as it happened in the past, after the … subsequent oil crisis. A brief critical survey of mainstream macroeconomics (the neoclassical synthesis and its variants, and its …
Persistent link: https://www.econbiz.de/10013120079
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Post-Keynesian Macrodynamics and Path-Dependent Growth
Setterfield, Mark - 2010
This paper discusses the treatment of growth as a path-dependent process in Post-Keynesian macrodynamics. A synthetic Post-Keynesian growth model is used to demonstrate the ways in which growth can be described as path dependent in the Post-Keynesian tradition. Recent developments in...
Persistent link: https://www.econbiz.de/10014190506
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Chapter 22. RBC Methodology and the Development of Aggregate Economic Theory
Prescott, E.C. - In: Handbook of macroeconomics : volume 2, v. 2A-2B SET, (pp. 1759-1787). 2016
This essay reviews the development of neoclassical growth theory, a unified theory of aggregate economic phenomena that was first used to study business cycles and aggregate labor supply. Subsequently, the theory has been used to understand asset pricing, growth miracles and disasters, monetary...
Persistent link: https://www.econbiz.de/10014024293
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Application of Kaldor's Stylized Facts to a Neoclassical Growth Model
Friedle, Andrew - 2014
The purpose of this paper is to determine whether a neoclassical model of macroeconomic growth with endogenous savings and labor augmenting technical change can account for Kaldor's stylized facts. An empirical investigation is undertaken to determine whether the results obtained correctly...
Persistent link: https://www.econbiz.de/10013053378
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Endogenous money and the natural rate of interest : the reemergence of liquidity preference and animal spirits in the post-Keynesian theory of capital markets
Pilkington, Philip - 2014
Since the beginning of the fall of monetarism in the mid-1980s, mainstream macroeconomics has incorporated many of the principles of post-Keynesian endogenous money theory. This paper argues that the most important critical component of post-Keynesian monetary theory today is its rejection of...
Persistent link: https://www.econbiz.de/10010412398