A Critical Essay on Modern Macroeconomic Theory |
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| Author:
| Hahn, Frank H.
Solow, Robert |
| ISBN: | 978-0-631-20989-8 |
| Publication Date: | Apr 1998 |
| Publisher: | John Wiley & Sons, Incorporated
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| Imprint: | Wiley-Blackwell |
| Book Format: | Paperback |
| List Price: | USD $61.95USD $48.00 |
Book Description:
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Macroeconomics began as the study of large-scale economic pathologies such as prolonged depression, mass unemployment and persistent inflation. In the early 1980s rational expectations and new classical economics dominated macroeconomic theory, with the result that such pathologies can hardly be discussed within the vocabulary of the theory.
Macroeconomics began as the study of large-scale economic pathologies such as prolonged depression, mass unemployment and persistent inflation. In the early 1980s rational expectations and new classical economics dominated macroeconomic theory, with the result that such pathologies can hardly be discussed within the vocabulary of the theory.