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Post Walrasian Macroeconomics

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  • Colander,David

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Abstract

Macroeconomics is evolving in an almost dialectic fashion. The latest evolution is the development of a new synthesis that combines insights of new classical, new Keynesian and real business cycle traditions into a dynamic, stochastic general equilibrium (DSGE) model that serves as a foundation for thinking about macro policy. That new synthesis has opened up the door to a new antithesis, which is being driven by advances in computing power and analytic techniques. This new synthesis is coalescing around developments in complexity theory, automated general to specific econometric modeling, agent-based models, and non-linear and statistical dynamical models. This book thus provides the reader with an introduction to what might be called a Post Walrasian research program that is developing as the antithesis of the Walrasian DSGE synthesis.

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This book is provided by Cambridge University Press in its series Cambridge Books with number 9780521684200 and published in 2006.

Order: http://www.cambridge.org/uk/catalogue/catalogue.asp?isbn=9780521684200
Handle: RePEc:cup:cbooks:9780521684200

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Cited by:
  1. David Colander & Richard P.F. Holt & J. Barkley Rosser, 2007. "Live and dead issues in the methodology of economics," Journal of Post Keynesian Economics, M.E. Sharpe, Inc., vol. 30(2), pages 303-312, December.
  2. David Colander, 2009. "Economists, Incentives, Judgment, and the European CVAR Approach to Macroeconometrics," Middlebury College Working Paper Series 0912, Middlebury College, Department of Economics.
  3. David Colander, 2010. "Marshall, Models, and Macroeconomics: Comments on Michel De Vroey’s “The Marshallian Roots of Keynes’s General Theory”," Middlebury College Working Paper Series 1005, Middlebury College, Department of Economics.

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