Cambridge University Press - A History Of Macroeconomics From Keynes To Lucas And Beyond (2016 EN)

Author: Michel De Vroey (Université Catholique de Louvain, Belgium)
Full Title: A History Of Macroeconomics From Keynes To Lucas And Beyond
Publisher: Cambridge University Press (November 30, 2015)
Year: 2016
ISBN-13: 9781107584945 (978-1-107-58494-5), 9780521898430 (978-0-521-89843-0)
ISBN-10: 1107584949, 0521898439
Pages: 447
Language: English
Genre: Macroeconomics
File type: PDF (OCR)
Quality: -
Price: £89.99


This book retraces the history of macroeconomics 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 macroeconomics, monetarism, disequilibrium macroeconomics (Patinkin, Leijongufvud and Clower), non-Walrasian equilibrium models, and first-generation new Keynesian models. Three stages are identified in the DSGE era: new classical macroeconomics (Lucas), RBC modelling, and second-generation new Keynesian modeling. The book also examines a few selected works aimed at presenting alternatives to Lucasian macroeconomics. While not eschewing analytical content, Michel De Vroey focuses on substantive assessments, and the models studied are presented in a pedagogical and vivid yet critical way.

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