Read e-book online A History of Macroeconomics from Keynes to Lucas and Beyond PDF

By Michel De Vroey

This publication retraces the historical past of macroeconomics from Keynes's basic idea to the current. significant to it's the distinction among a Keynesian period and a Lucasian - or dynamic stochastic basic equilibrium (DSGE) - period, each one governed by means of distinctive methodological criteria. within the Keynesian period, the publication stories the next theories: Keynesian macroeconomics, monetarism, disequilibrium macroeconomics (Patinkin, Leijongufvud and Clower), non-Walrasian equilibrium types, and first-generation new Keynesian types. 3 phases are pointed out within the DSGE period: new classical macroeconomics (Lucas), RBC modelling, and second-generation new Keynesian modeling. The e-book additionally examines a number of chosen works aimed toward proposing choices to Lucasian macroeconomics. whereas now not eschewing analytical content material, Michel De Vroey specializes in great checks, and the types studied are awarded in a pedagogical and shiny but severe way.

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A History of Macroeconomics from Keynes to Lucas and Beyond by Michel De Vroey


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