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Seven Schools of Macroeconomic Thought

Author

Listed:
  • Phelps, Edmund S.

    (Columbia University)

Abstract

This book offers an excellent survey of various macroeconomic topics which feature prominently in the research agenda and have inspired both theoretical and policy debate. The book presents an authoritative and comprehensive summary and original critique of modern macroeconomic approaches by a scholar whose own contribution to the field is considerable. In each of his seven chapters, the author reviews one school of economic thought. These are: the Keynesian school of macroeconomics; the monetarist school; the New Classical school; the New-Keynesian school; supply side macroeconomics, and `non-monetary' models of macroeconomics - the real business cycle theory and the `structuralist school' which views changes in unemployment as the outcome of shifts in the structural characteristics of the economy. The book is the text of the first series of Ryde Lectures, established by Lund University in Sweden.

Suggested Citation

  • Phelps, Edmund S., 1990. "Seven Schools of Macroeconomic Thought," OUP Catalogue, Oxford University Press, number 9780198283331.
  • Handle: RePEc:oxp:obooks:9780198283331
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    References listed on IDEAS

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    1. Gordon,Robert J., 2004. "Productivity Growth, Inflation, and Unemployment," Cambridge Books, Cambridge University Press, number 9780521531429, March.
    2. Dale W. Jorgenson, 2001. "Information Technology and the U.S. Economy," American Economic Review, American Economic Association, vol. 91(1), pages 1-32, March.
    3. Gordon,Robert J., 2004. "Productivity Growth, Inflation, and Unemployment," Cambridge Books, Cambridge University Press, number 9780521800082, March.
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    Cited by:

    1. Woodford, Michael, 2009. "Information-constrained state-dependent pricing," Journal of Monetary Economics, Elsevier, vol. 56(S), pages 100-124.
    2. Hian Hoon, 1994. "The impact of intraindustry trade on the natural rate of unemployment in two simple models," Open Economies Review, Springer, vol. 5(1), pages 29-46, March.
    3. Pies, Ingo, 2011. "Theoretische Grundlagen demokratischer Wirtschafts- und Gesellschaftspolitik: Der Beitrag von Edmund Phelps," Discussion Papers 2011-10, Martin Luther University of Halle-Wittenberg, Chair of Economic Ethics.
    4. Francesco Saraceno, 2016. "When Keynes goes to Brussels : a New Fiscal Rule for the EMU ?," Documents de Travail de l'OFCE 2016-32, Observatoire Francais des Conjonctures Economiques (OFCE).
    5. Boyer, Robert, 1992. "La crise de la macroéconomie, une conséquence de la méconnaissance des institutions?," L'Actualité Economique, Société Canadienne de Science Economique, vol. 68(1), pages 43-68, mars et j.
    6. Pedro Garcia Duarte & Gilberto Tadeu Lima, 2012. "Microfoundations Reconsidered," Books, Edward Elgar Publishing, number 14869, April.
    7. Jérôme Creel & Henri Sterdyniak, 1995. "Les déficits publics en Europe. Causes, conséquences ou remèdes à la crise ?," Revue Économique, Programme National Persée, vol. 46(3), pages 645-656.
    8. Pedro Garcia Duarte, 2012. "Not Going Away? Microfoundations in the Making of a New Consensus in Macroeconomics," Chapters,in: Microfoundations Reconsidered, chapter 6 Edward Elgar Publishing.
    9. Jean-Paul Fitoussi & Edmund S. Phelps, 1990. "Note sur les conséquences globales de la reconstruction de l'Europe de l'Est et l'épargne mondiale," Revue de l'OFCE, Programme National Persée, vol. 34(1), pages 265-279.
    10. Teodoro Dario Togati, 2012. "The crisis in macro and the limitations of the economics of Keynes – or why the master will not return unless his General Theory is dressed up in neo-modern clothes," Chapters,in: Keynes’s General Theory for Today, chapter 3, pages 40-59 Edward Elgar Publishing.
    11. Slanicay Martin, 2014. "Some Notes on Historical, Theoretical, and Empirical Background of DSGE Models," Review of Economic Perspectives, De Gruyter Open, vol. 14(2), pages 1-20, June.
    12. Eggertsson, Thráinn, 2013. "Quick guide to New Institutional Economics," Journal of Comparative Economics, Elsevier, vol. 41(1), pages 1-5.
    13. Calvo, Guillermo, 2012. "Financial crises and liquidity shocks a bank-run perspective," European Economic Review, Elsevier, vol. 56(3), pages 317-326.
    14. Drakopoulos, Stavros A., 2010. "Economic Policies, Socieconomic Factors and Overall Health: A Short Review," MPRA Paper 21553, University Library of Munich, Germany.
    15. K. Vela Velupillai & Stefano Zambelli, 2011. "Computing in Economics," Chapters,in: The Elgar Companion to Recent Economic Methodology, chapter 12 Edward Elgar Publishing.
    16. Gul, Ejaz & Chaudhry, Imran Sharif & Faridi, Muhammad Zahir, 2014. "The Classical-Keynesian Paradigm: Policy Debate in Contemporary Era," MPRA Paper 53920, University Library of Munich, Germany.
    17. Zbigniew Dokurno & Bogusław Fiedor, 2016. "Sustainable Development as the Concept of World Economy Development from Contemporary Macroeconomics Perspective," Gospodarka Narodowa, Warsaw School of Economics, issue 2, pages 5-24.
    18. Jorge Iván González, 2002. "James Tobin (1918-2002)," Revista de Economía Institucional, Universidad Externado de Colombia - Facultad de Economía, vol. 4(6), pages 200-221, January-J.
    19. Taylor, Lance, 1995. "Environmental and gender feedbacks in macroeconomics," World Development, Elsevier, vol. 23(11), pages 1953-1961, November.
    20. Snowdon, Brian & Vane, Howard R., 1996. "The development of modern macroeconomics: Reflections in the light of Johnson's analysis after twenty-five years," Journal of Macroeconomics, Elsevier, vol. 18(3), pages 381-401.
    21. Roger Backhouse & Mauro Boianovsky, 2005. "Disequilibrium Macroeconomics: An Episode In The Transformation Of Modern Macroeconomics," Anais do XXXIII Encontro Nacional de Economia [Proceedings of the 33th Brazilian Economics Meeting] 012, ANPEC - Associação Nacional dos Centros de Pósgraduação em Economia [Brazilian Association of Graduate Programs in Economics].
    22. repec:pal:easeco:v:43:y:2017:i:3:d:10.1057_eej.2015.56 is not listed on IDEAS

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