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Macroeconomics in crisis and macroeconomics in recovery

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  • Alessandro Roncaglia

    ()
    (Sapienza University of Rome)

Abstract

The financial and economic crisis brings to a reconsideration of macroeconomics: as it happened in the past, after the Great Crash of 1929 as well as after the Second World War and after the collapse of the Bretton Woods system in 1971 and the subsequent oil crisis. A brief critical survey of mainstream macroeconomics (the neoclassical synthesis and its variants, and its criticisms on the side of Keynesians and Sraffians) is followed by a brief survey of the elements of alternative macroeconomic analysis developed by Keynes and Kalecki, Minsky and Sylos Labini, and others.

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File URL: http://ojs.uniroma1.it/index.php/PSLQuarterlyReview/article/view/9417/9312
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Bibliographic Info

Article provided by Economia civile in its journal PSL Quarterly Review.

Volume (Year): 64 (2011)
Issue (Month): 257 ()
Pages: 167-185

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Handle: RePEc:psl:pslqrr:2011:24

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Related research

Keywords: macreoeconomics; crisis; unemployment; Post-Keynesian theory; Neoclassical theory;

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References

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  1. Roncaglia,Alessandro, 2006. "The Wealth of Ideas," Cambridge Books, Cambridge University Press, number 9780521691871, October.
  2. Lucas, Robert Jr., 1972. "Expectations and the neutrality of money," Journal of Economic Theory, Elsevier, vol. 4(2), pages 103-124, April.
  3. N. Gregory Mankiw, 2006. "The Macroeconomist as Scientist and Engineer," Harvard Institute of Economic Research Working Papers 2121, Harvard - Institute of Economic Research.
  4. Jan Kregel, 2011. "Uscire dalla crisi finanziaria statunitense: la politica domina l’economia nella Nuova Economia Politica," Moneta e Credito, Economia civile, vol. 64(253), pages 15-30.
  5. Marcella Corsi & Carlo D'Ippoliti & Federico Lucidi, 2010. "Pluralism In Economics And The Evaluation Of Economic Research In Italy," DULBEA Working Papers 10-05, ULB -- Universite Libre de Bruxelles.
  6. D’Ippoliti, Carlo, 2011. "Economics And Diversity," Journal of the History of Economic Thought, Cambridge University Press, vol. 33(04), pages 562-564, December.
  7. Alberto Quadrio Curzio, 2011. "Economie in crisi: Eurolandia dalla resistenza alla ricostruzione," Moneta e Credito, Economia civile, vol. 64(254), pages 105-114.
  8. Barro, Robert J., 1974. "Are Government Bonds Net Wealth?," Scholarly Articles 3451399, Harvard University Department of Economics.
  9. Stefano Fenoaltea, 2010. "The reconstruction of historical national accounts: the case of Italy," PSL Quarterly Review, Economia civile, vol. 63(252), pages 77-96.
  10. Harcourt,G. C., 1972. "Some Cambridge Controversies in the Theory of Capital," Cambridge Books, Cambridge University Press, number 9780521096720, October.
  11. Terenzio Cozzi, 2011. "La crisi della macroeconomia," Moneta e Credito, Economia civile, vol. 64(253), pages 31-44.
  12. repec:psl:pslqrr:2010:15 is not listed on IDEAS
  13. Fama, Eugene F, 1970. "Efficient Capital Markets: A Review of Theory and Empirical Work," Journal of Finance, American Finance Association, vol. 25(2), pages 383-417, May.
  14. Paolo Bosi & Carlo D’Adda, 2011. "Politiche di sostegno della domanda in presenza di elevato debito pubblico," Moneta e Credito, Economia civile, vol. 64(253), pages 45-52.
  15. Alessandro Roncaglia, 2003. "Energy and market power: an alternative approach to the economics of oil," Journal of Post Keynesian Economics, M.E. Sharpe, Inc., vol. 25(4), pages 641-659, July.
  16. Forni, Mario & Lippi, Marco, 1997. "Aggregation and the Microfoundations of Dynamic Macroeconomics," OUP Catalogue, Oxford University Press, number 9780198288008.
  17. Alessandro Roncaglia, 2009. "Keynes and probability: An assessment," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 16(3), pages 489-510.
  18. repec:psl:pslqrr:2010:10 is not listed on IDEAS
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Cited by:
  1. Alessandro Roncaglia, 2013. "Hyman Minsky's monetary production economy," PSL Quarterly Review, Economia civile, vol. 66(265), pages 77-94.

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