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Beyond the Usual Suspects: Rethinking the Mechanisms of Paradigm Shifts in Macroeconomic Policy

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  • Ban Cornel

    (Boston University)

Abstract

Economists and political economists emphasize the importance of exogenous shocks, international economic competition, policy conditionality and partisan politics as the main drivers of literature on economic policy change. This paper evaluates the explanatory robustness of these factors and stresses the importance of incorporating economic ideas as a fruitful new direction in research on this topic.

Suggested Citation

  • Ban Cornel, 2013. "Beyond the Usual Suspects: Rethinking the Mechanisms of Paradigm Shifts in Macroeconomic Policy," Revista OEconomica, Romanian Society for Economic Science, Revista OEconomica, issue 01, March.
  • Handle: RePEc:oen:econom:y:2013:i:01:id:350
    as

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    References listed on IDEAS

    as
    1. Friedman, Milton, 1982. "Monetary Policy: Theory and Practice: A Reply," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 14(3), pages 404-406, August.
    2. Friedman, Milton, 1982. "Monetary Policy: Theory and Practice," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 14(1), pages 98-118, February.
    3. Friedman, Milton & Schwartz, Anna J, 1969. "The Definition of Money: Net Wealth and Neutrality as Criteria," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 1(1), pages 1-14, February.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    exogenous shocks; international economic competition; policy conditionality; partisan politics;

    JEL classification:

    • E10 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - General
    • F62 - International Economics - - Economic Impacts of Globalization - - - Macroeconomic Impacts
    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
    • P50 - Economic Systems - - Comparative Economic Systems - - - General

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