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By Michel De Vroey

This publication retraces the historical past of macroeconomics from Keynes's normal idea to the current. vital to it's the distinction among a Keynesian period and a Lucasian - or dynamic stochastic normal equilibrium (DSGE) - period, each one governed by means of specified methodological criteria. within the Keynesian period, the ebook reports the next theories: Keynesian macroeconomics, monetarism, disequilibrium macroeconomics (Patinkin, Leijongufvud and Clower), non-Walrasian equilibrium types, 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 e-book additionally examines a couple of chosen works geared toward featuring possible choices to Lucasian macroeconomics. whereas no longer eschewing analytical content material, Michel De Vroey makes a speciality of sizeable checks, and the versions studied are awarded in a pedagogical and bright 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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