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The fireman and the architect

In: What’s Right with Macroeconomics?

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  • Xavier Timbeau

Abstract

Global crises are very rare events. After the Great Depression and the Great Stagflation, new macroeconomic paradigms associated with a new policy regime emerged. This book addresses how some macroeconomic ideas have failed, and examines which theories researchers should preserve and develop. It questions how the field of economics – still reeling from the global financial crisis initiated in the summer of 2007 – will respond.

Suggested Citation

  • Xavier Timbeau, 2012. "The fireman and the architect," Chapters, in: Robert M. Solow & Jean-Philippe Touffut (ed.), What’s Right with Macroeconomics?, chapter 1, pages 8-32, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:15013_1
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    References listed on IDEAS

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    14. Paul R. Krugman, 1998. "It's Baaack: Japan's Slump and the Return of the Liquidity Trap," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 29(2), pages 137-206.
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    Cited by:

    1. Tom van Veen, 2020. "Have Macroeconomic Models Lost Their Connection with Economic Reality?," CESifo Working Paper Series 8256, CESifo.

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