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About this product
- DescriptionThis book retraces the history of macroecomics 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 macroecomics, monetarism, disequilibrium macroecomics (Patinkin, Leijongufvud and Clower), n-Walrasian equilibrium models, and first-generation new Keynesian models. Three stages are identified in the DSGE era: new classical macroecomics (Lucas), RBC modelling, and second-generation new Keynesian modeling. The book also examines a few selected works aimed at presenting alternatives to Lucasian macroecomics. While t eschewing analytical content, Michel De Vroey focuses on substantive assessments, and the models studied are presented in a pedagogical and vivid yet critical way.
- Author BiographyMichel De Vroey is a Professor Emeritus at the University of Louvain and visiting professor at the Universite Saint Louis, Brussels. He has published several books, including Involuntary Unemployment: The Elusive Quest for a Theory (2007) and Keynes, Lucas: D'une macroeconomie ... l'autre (2009). He has also published extensively in scholarly journals.
- Author(s)Michel de Vroey
- PublisherCambridge University Press
- Date of Publication21/12/2015
- SubjectEconomics: Professional & General
- Place of PublicationCambridge
- Country of PublicationUnited Kingdom
- ImprintCambridge University Press
- Content Note35 b/w illus.
- Weight730 g
- Width152 mm
- Height228 mm
- Spine29 mm
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