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Reconstructing Macroeconomic Theory to Manage Economic Policy

In: Fruitful Economics

Author

Listed:
  • Joseph E. Stiglitz

Abstract

It is a great pleasure for me to participate in this event celebrating Jean-Paul Fitoussi’s contribution to economics and to public life. There are so many aspects of his work and of his collaborations over a long period of years on which I feel I should comment: His role, for instance, in the International Commission on the Measurement of Economic Performance and Social Progress, has provided a critical impetus to what is now a major global movement. The commission’s work was not just about measurement; it was about shaping our society, for what we measure affects what we do.1 I should talk too about his contributions over a quarter century to the International Economic Association, where he served as Secretary General, and which he continues to advise. I could talk as well about his efforts to reshape the G20 agenda when France chaired that group,2 or the work we did together in the Commission of Experts of the President of the United Nations General Assembly on Reforms of the International Monetary and Financial System, in the aftermath of the global financial crisis.3

Suggested Citation

  • Joseph E. Stiglitz, 2015. "Reconstructing Macroeconomic Theory to Manage Economic Policy," Palgrave Macmillan Books, in: Éloi Laurent & Jacques Cacheux (ed.), Fruitful Economics, chapter 1, pages 20-56, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-137-45105-7_3
    DOI: 10.1057/9781137451057_3
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    Blog mentions

    As found by EconAcademics.org, the blog aggregator for Economics research:
    1. Stiglitz dresse l'état des lieux de la macroéconomie
      by ? in D'un champ l'autre on 2014-10-03 23:43:00

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    Cited by:

    1. A. Mantovi & G. Tagliavini, 2017. "Liquidity cognition and limits of arbitrage," Economics Department Working Papers 2017-EP01, Department of Economics, Parma University (Italy).
    2. Sawadogo, Pegdéwendé Nestor, 2020. "Can fiscal rules improve financial market access for developing countries?," Journal of Macroeconomics, Elsevier, vol. 65(C).
    3. Emilio Carnevali & André Pedersen Ystehede, 2023. "Is socialism back? A review of contemporary economic literature," Journal of Economic Surveys, Wiley Blackwell, vol. 37(2), pages 239-270, April.
    4. Giovanni Dosi & Mauro Napoletano & Andrea Roventini & Tania Treibich, 2016. "The Short- and Long-Run Damages of Fiscal Austerity: Keynes beyond Schumpeter," International Economic Association Series, in: Joseph E. Stiglitz & Martin Guzman (ed.), Contemporary Issues in Macroeconomics, chapter 8, pages 79-100, Palgrave Macmillan.
    5. repec:spo:wpmain:info:hdl:2441/5bli88krr28f68nvhfe1qtsl9l is not listed on IDEAS
    6. Anna & Leonardo Weller, 2018. "Was Cold War A Constraint To Income Inequality?," Anais do XLIV Encontro Nacional de Economia [Proceedings of the 44th Brazilian Economics Meeting] 94, ANPEC - Associação Nacional dos Centros de Pós-Graduação em Economia [Brazilian Association of Graduate Programs in Economics].
    7. repec:spo:wpmain:info:hdl:2441/46k9rkvut99i7qnn4vqm25t53b is not listed on IDEAS
    8. Luigi Bonatti & Andrea Fracasso & Roberto Tamborini, 2021. "Unconventional Policy Instruments and Transmission Channels:A State-Contingent Toolbox for the ECB," DEM Working Papers 2021/05, Department of Economics and Management.
    9. Posgay, István & Regős, Gábor & Horváth, Diána & Molnár, Dániel, 2019. "Chapters from Economic Theories on Hysteresis," Public Finance Quarterly, Corvinus University of Budapest, vol. 64(3), pages 414-432.
    10. Dosi, Giovanni & Roventini, Andrea & Russo, Emanuele, 2019. "Endogenous growth and global divergence in a multi-country agent-based model," Journal of Economic Dynamics and Control, Elsevier, vol. 101(C), pages 101-129.
    11. Christian Hecker, 2021. "How Should Responsible Investors Behave? Keynes’s Distinction Between Entrepreneurship and Speculation Revisited," Journal of Business Ethics, Springer, vol. 171(3), pages 459-473, July.
    12. Mark Setterfield, 2015. "Time variation in the size of the multiplier: a Kalecki-Harrod approach," Working Papers 1522, New School for Social Research, Department of Economics, revised Jan 2017.
    13. Vassilis Droucopoulos, 2018. "Economic Theory ten years after the crisis: Just tweaking around the edges? and/or A bit of repair at the seams?," Working Papers 2001, Greek Scientific Association of Political Economy - GAPE, revised Dec 2018.
    14. Albuquerque Sant'Anna, André, 2015. "A spectre has haunted the west: did socialism discipline income inequality?," MPRA Paper 64756, University Library of Munich, Germany.
    15. Tamotsu Onozaki, 2018. "Nonlinearity, Bounded Rationality, and Heterogeneity," Springer Books, Springer, number 978-4-431-54971-0, January.
    16. Rengs, Bernhard & Scholz-Waeckerle, Manuel, 2017. "Consumption & Class in Evolutionary Macroeconomics," MPRA Paper 80021, University Library of Munich, Germany.
    17. Emre Örün, 2020. "Theoritical Seekings in Macroeconomics," Istanbul Journal of Economics-Istanbul Iktisat Dergisi, Istanbul University, Faculty of Economics, vol. 70(2), pages 451-477, December.
    18. Jacques Le Cacheux, 2017. "Croissance potentielle : la politique économique au royaume des aveugles ?," Revue économique, Presses de Sciences-Po, vol. 68(HS1), pages 29-39.
    19. Bernhard Rengs & Manuel Scholz-Wäckerle, 2019. "Consumption & class in evolutionary macroeconomics," Journal of Evolutionary Economics, Springer, vol. 29(1), pages 229-263, March.
    20. Davide Bazzana, 2024. "Animal spirits, bankruptcies, and monetary policy effectiveness in a hybrid macroeconomic agent-based financial accelerator model," Journal of Evolutionary Economics, Springer, vol. 34(1), pages 29-61, January.
    21. Μαρία Μαρκάκη & Αθηνά Μπελεγρή-Ρομπόλη, 2018. "Στόχος Της Παρούσας Μελέτης Είναι Η Αναλυτική Διερεύνηση Της Παραγωγικής Διάρθρωσης Της Περιφέρειας Κρήτης. Ειδικότερα, Αναλύεται Ο Βαθμός Αλληλεξάρτησης Των Κλάδων Οικονομικής Δραστηριότητας, Όπως Προκύπτει Από Τις Κλαδικές Διασυνδέσεις Τους, Αλλά Κ," Working Papers 2002, Greek Scientific Association of Political Economy - GAPE, revised Mar 2019.
    22. David Dequech, 2016. "Some Institutions (Social Norms And Conventions) Of Contemporary Mainstream Economics, Macroeconomics, And Financial Economics," Anais do XLIII Encontro Nacional de Economia [Proceedings of the 43rd Brazilian Economics Meeting] 006, ANPEC - Associação Nacional dos Centros de Pós-Graduação em Economia [Brazilian Association of Graduate Programs in Economics].
    23. Nissanke, Machiko, 2019. "Exploring macroeconomic frameworks conducive to structural transformation of sub-Saharan African economies," Structural Change and Economic Dynamics, Elsevier, vol. 48(C), pages 103-116.
    24. Giovanni Dosi & Mauro Napoletano & Andrea Roventini & Tania Treibich, 2017. "Micro and macro policies in the Keynes+Schumpeter evolutionary models," Journal of Evolutionary Economics, Springer, vol. 27(1), pages 63-90, January.

    More about this item

    Keywords

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    JEL classification:

    • E00 - Macroeconomics and Monetary Economics - - General - - - General
    • E12 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Keynes; Keynesian; Post-Keynesian; Modern Monetary Theory
    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
    • E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit
    • G01 - Financial Economics - - General - - - Financial Crises

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