A History of Macroeconomics from Keynes to Lucas and Beyond

Released on by Michel De Vroey
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  • A History of Macroeconomics from Keynes to Lucas and Beyond Book Detail

  • Author : Michel De Vroey
  • Release Date : 2016-01-08
  • Publisher : Cambridge University Press
  • Genre : Business & Economics
  • Pages : 451
  • ISBN 13 : 0521898439
  • File Size : 75,75 MB
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A History of Macroeconomics from Keynes to Lucas and Beyond by Michel De Vroey PDF Summary

Book Description: This book retraces the history of macroeconomics from Keynes's General Theory to the present. Central to it is the contrast between a Keynesian era and a Lucasian - or dynamic stochastic general equilibrium (DSGE) - era, each ruled by distinct methodological standards. In the Keynesian era, the book studies the following theories: Keynesian macroeconomics, monetarism, disequilibrium macro (Patinkin, Leijongufvud, and Clower) non-Walrasian equilibrium models, and first-generation new Keynesian models. Three stages are identified in the DSGE era: new classical macro (Lucas), RBC modelling, and second-generation new Keynesian modeling. The book also examines a few selected works aimed at presenting alternatives to Lucasian macro. While not eschewing analytical content, Michel De Vroey focuses on substantive assessments, and the models studied are presented in a pedagogical and vivid yet critical way.

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