Convergence in Macroeconomics: Elements of the New Synthesis
AbstractWhile macroeconomics is often thought of as a deeply divided field, with less of a shared core and correspondingly less cumulative progress than in other areas of economics, in fact, there are fewer fundamental disagreements among macroeconomists now than in past decades. This is due to important progress in resolving seemingly intractable debates. In this paper, the author reviews some of those debates and outlines important elements of the new synthesis in macroeconomic theory. The author discusses the extent to which new developments in theory and research methods are already affecting macroeconomic analysis in policy institutions.
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Bibliographic InfoArticle provided by N.P. Redaktsiya zhurnala "Voprosy Economiki" in its journal Voprosy Economiki.
Volume (Year): 10 (2010)
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Other versions of this item:
- Michael Woodford, 2009. "Convergence in Macroeconomics: Elements of the New Synthesis," American Economic Journal: Macroeconomics, American Economic Association, vol. 1(1), pages 267-79, January.
- A11 - General Economics and Teaching - - General Economics - - - Role of Economics; Role of Economists
- E00 - Macroeconomics and Monetary Economics - - General - - - General
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