This book aims to showcase and advance recent debates over the extent to which undergraduate macroeconomics teaching models adequately reflect the latest developments in the field. It contains 16 essays on topics including the 3-equation New Consensus model, extensions and alternatives to this...

This paper critically evaluates two different approaches to teaching macroeconomics at the undergraduate level through the comparison of two popular, recent handbooks: Olivier Blanchard's Macroeconomics (2021) and William Mitchell, Randall Wray and Martin Watts's Macroeconomics (2019). These...

We show an example of a small open economy - the Czech Republic - where the fiscal restriction was put in place between 2010 and 2013 in a negative output gap and zero lower bound on nominal interest rates. According to our results, such fiscal policy seems to have been mistaken, as the...