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Trends and Fads in Macroeconomic Dynamics

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  • Stephen J. Turnovsky

    (University of Washington)

Abstract

This paper tries to distinguish between those features of macroeconomic dynamics which will stand the test of time and which will not. It reviews the rational expectations and the representative agent models. It concludes that more attention should be paid to nonlinear dynamics and uncertainty than has hitherto been paid by macroeconomists.

Suggested Citation

  • Stephen J. Turnovsky, 1996. "Trends and Fads in Macroeconomic Dynamics," Indian Economic Review, Department of Economics, Delhi School of Economics, vol. 31(1), pages 23-40, January.
  • Handle: RePEc:dse:indecr:v:35:y:1996:i:1:p:23-40
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    References listed on IDEAS

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    1. Romer, Paul M, 1986. "Increasing Returns and Long-run Growth," Journal of Political Economy, University of Chicago Press, vol. 94(5), pages 1002-1037, October.
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    Cited by:

    1. Uday Bhanu Sinha & Abhijit Banerji & Shreekant Gupta & J. V. Meenakshi, 2019. "Editorial note," Indian Economic Review, Springer, vol. 54(1), pages 1-6, December.

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    More about this item

    JEL classification:

    • E13 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Neoclassical
    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
    • E40 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - General
    • E60 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General

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