The history of macroeconomics. From Keynes to Lucas to the present
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The book traces the history of macroeconomic science starting from the work of J. M. Keynes "General theory of employment, interest and money" until today. The main attention is focused on the contrast of the era of Keynes and the era of Lucas (the period of models of dynamic stochastic general equilibrium), in each of which various methodological standards dominated. When considering the Keynesian period, the following theories are analyzed: Keynesian macroeconomics, monetarism, nonequilibrium economy (Patinkin, Leionehufwood), nonlrax equilibrium models, as well as models of the new Keynesians of the first generation. In the period of modeling dynamic stochastic general balance, three stages are distinguished: the new classical macroeconomic theory (Lucas), modeling real business cycles and models of new Keynesians of the second generation. The book also considers several works representing alternatives to the macroeconomic theory of Lucas. Although this work uses an analytical approach, Michelle de Fray focuses on the content side and critically rethinks the studied models. The book is written in a living language and is recommended for use as a textbook
Author:
Author:de Frey Michelle
Cover:
Cover:Hard
Category:
- Category:Business & Money
- Category:Science & Math
Series:
Series: Academic Book
ISBN:
ISBN:978-5-7749-1423-4
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