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Reflections on the Development of Modern Macroeconomics

Reflections on the Development of Modern Macroeconomics

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Macroeconomic analysis has undergone profound and controversial changes during the past twenty-five years and, as such, economists have developed and evolved their approaches to the discipline. Reflections on the Development of Modern Macroeconomics presents a collection of eight original essays, from leading scholars, each of which focuses on an important issue relating to these developments.

The book will attract a wide readership among intermediate undergraduates, as well as postgraduates and teachers in the fields of macroeconomics and the history of economic thought. TABLE OF CONTENTS: Preface 1. To Stabilize or not to Stabilize: Is that the Question? (B. Snowdon, H.R. Vane) 2. The Rhetoric and Methodology of Modern Macroeconomics (R.E. Backhouse) 3. How Relevant is Keynesian Economics Today? (G.K. Shaw) 4. What Remains of the Monetarist Counter-Revolution? (T. Mayer) 5. Macroeconomics: Before and After Rational Expectations (P. Minford) 6. The Ups and Downs of Modern BusinessCycle Theory (C. Ryan, A.W. Mullineux) 7. The Role of Imperfect Competition in New Keynesian Economics (H.D. Dixon) 8. Politics and the Macroeconomy: Endogenous Politicians and Aggregate Instability (B. Snowdon, H.R. Vane)