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

By Michel De Vroey

This ebook retraces the historical past of macroeconomics from Keynes's normal conception to the current. important to it's the distinction among a Keynesian period and a Lucasian - or dynamic stochastic common equilibrium (DSGE) - period, each one governed by means of targeted methodological criteria. within the Keynesian period, the booklet stories the subsequent theories: Keynesian macroeconomics, monetarism, disequilibrium macroeconomics (Patinkin, Leijongufvud and Clower), non-Walrasian equilibrium versions, and first-generation new Keynesian versions. 3 phases are pointed out within the DSGE period: new classical macroeconomics (Lucas), RBC modelling, and second-generation new Keynesian modeling. The booklet additionally examines a couple of chosen works geared toward providing choices to Lucasian macroeconomics. whereas now not eschewing analytical content material, Michel De Vroey specializes in important 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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