Michel De Vroey's A History of Macroeconomics from Keynes to Lucas and Beyond PDF

By Michel De Vroey

This ebook retraces the heritage of macroeconomics from Keynes's basic thought to the current. relevant to it's the distinction among a Keynesian period and a Lucasian - or dynamic stochastic basic equilibrium (DSGE) - period, each one governed through specified methodological criteria. within the Keynesian period, the publication reviews the subsequent theories: Keynesian macroeconomics, monetarism, disequilibrium macroeconomics (Patinkin, Leijongufvud and Clower), non-Walrasian equilibrium types, and first-generation new Keynesian types. 3 levels 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 couple of chosen works geared toward proposing possible choices to Lucasian macroeconomics. whereas now not eschewing analytical content material, Michel De Vroey specializes in substantive checks, and the versions studied are provided in a pedagogical and shiny but serious way.

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

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