Post Walrasian Macroeconomics
AbstractMacroeconomics 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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Bibliographic InfoThis book is provided by Cambridge University Press in its series Cambridge Books with number 9780521865487 and published in 2006.
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- David Colander & Richard P.F. Holt & J. Barkley Rosser, Jr., 2007. "Live and Dead Issues in the Methodology of Economics," Middlebury College Working Paper Series 0704, Middlebury College, Department of Economics.
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