Not Going Away? Microfoundations in the Making of a New Consensus in Macroeconomics
Author
Abstract
Suggested Citation
Note: Published in the book "Microfoundations Reconsidered: the relationship of micro and macroeconomics in historical perspective", edited by Pedro Garcia Duarte and Gilberto Tadeu Lima (Cheltenham, UK: Edward Elgar, 2012, ch. 6, pp. 190-237)
Download full text from publisher
Other versions of this item:
- 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.
References listed on IDEAS
- Kydland, Finn E., 1992.
"On the econometrics of world business cycles,"
European Economic Review, Elsevier, vol. 36(2-3), pages 476-482, April.
- Finn E. Kydland, 1991. "On the econometrics of world business cycles," Working Papers (Old Series) 9115, Federal Reserve Bank of Cleveland.
- Robert M. Solow, 1979. "Alternative Approaches to Macroeconomic Theory: A Partial View, W.A. Mackintosh Lecture 1979," Working Paper 335, Economics Department, Queen's University.
- N. Gregory Mankiw, 1985. "Small Menu Costs and Large Business Cycles: A Macroeconomic Model of Monopoly," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 100(2), pages 529-538.
- Hartley, James E & Hoover, Kevin D & Salyer, Kevin D, 1997. "The Limits of Business Cycle Research: Assessing the Real Business Cycle Model," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 13(3), pages 34-54, Autumn.
- Jordi Galí & Mark Gertler, 2007.
"Macroeconomic Modeling for Monetary Policy Evaluation,"
Journal of Economic Perspectives, American Economic Association, vol. 21(4), pages 25-46, Fall.
- Jordi Galí & Mark Gertler, 2007. "Macroeconomic Modeling for Monetary Policy Evaluation," NBER Working Papers 13542, National Bureau of Economic Research, Inc.
- Jordi Galí & Mark Gertler, 2007. "Macroeconomic modeling for monetary policy evaluation," Economics Working Papers 1039, Department of Economics and Business, Universitat Pompeu Fabra, revised Jul 2007.
- Brian Snowdon & Howard R. Vane & Peter Wynarczyk, 1994. "A Modern Guide To Macroeconomics," Books, Edward Elgar Publishing, number 450.
- repec:bla:scandj:v:93:y:1991:i:2:p:161-78 is not listed on IDEAS
- N. G. Mankiw, 2009.
"The Macroeconomist as Scientist and Engineer,"
Voprosy Ekonomiki, NP Voprosy Ekonomiki, issue 5.
- N. Gregory Mankiw, 2006. "The Macroeconomist as Scientist and Engineer," Journal of Economic Perspectives, American Economic Association, vol. 20(4), pages 29-46, Fall.
- N. Gregory Mankiw, 2006. "The Macroeconomist as Scientist and Engineer," NBER Working Papers 12349, National Bureau of Economic Research, Inc.
- N. Gregory Mankiw, 2006. "The Macroeconomist as Scientist and Engineer," Harvard Institute of Economic Research Working Papers 2121, Harvard - Institute of Economic Research.
- George A. Akerlof & Janet L. Yellen, 1985. "A Near-Rational Model of the Business Cycle, with Wage and Price Inertia," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 100(Supplemen), pages 823-838.
- David Colander & Peter Howitt & Alan Kirman & Axel Leijonhufvud & Perry Mehrling, 2018.
"Beyond DSGE Models: Toward an Empirically Based Macroeconomics,"
Chapters, in: How Economics Should Be Done, chapter 14, pages 212-216,
Edward Elgar Publishing.
- David Colander & Peter Howitt & Alan Kirman & Axel Leijonhufvud & Perry Mehrling, 2008. "Beyond DSGE Models: Toward an Empirically Based Macroeconomics," American Economic Review, American Economic Association, vol. 98(2), pages 236-240, May.
- Dave Colander & Peter Howitt & Alan Kirman & Axel Leijonhufvud & Perry Mehrling, 2008. "Beyond DSGE Models: Toward an Empirically Based Macroeconomics," Middlebury College Working Paper Series 0808, Middlebury College, Department of Economics.
- Jonathan Heathcote & Kjetil Storesletten & Giovanni L. Violante, 2009.
"Quantitative Macroeconomics with Heterogeneous Households,"
Annual Review of Economics, Annual Reviews, vol. 1(1), pages 319-354, May.
- Jonathan Heathcote & Kjetil Storesletten & Giovanni L. Violante, 2009. "Quantitative Macroeconomics with Heterogeneous Households," NBER Working Papers 14768, National Bureau of Economic Research, Inc.
- Jonathan Heathcote & Kjetil Storesletten & Giovanni L. Violante, 2009. "Quantitative macroeconomics with heterogeneous households," Staff Report 420, Federal Reserve Bank of Minneapolis.
- Marvin Goodfriend & Robert G. King, 1997.
"The New Neoclassical Synthesis and the Role of Monetary Policy,"
NBER Chapters, in: NBER Macroeconomics Annual 1997, Volume 12, pages 231-296,
National Bureau of Economic Research, Inc.
- Marvin Goodfriend & Robert G. King, 1998. "The new neoclassical synthesis and the role of monetary policy," Working Paper 98-05, Federal Reserve Bank of Richmond.
- Canova, Fabio & Sala, Luca, 2009.
"Back to square one: Identification issues in DSGE models,"
Journal of Monetary Economics, Elsevier, vol. 56(4), pages 431-449, May.
- Fabio Canova & Luca Sala, 2005. "Back to square one: Identification issues in DSGE models," Economics Working Papers 927, Department of Economics and Business, Universitat Pompeu Fabra, revised Sep 2006.
- Canova, Fabio & Sala, Luca, 2009. "Back to square one: identification issues in DSGE models," CEPR Discussion Papers 7234, C.E.P.R. Discussion Papers.
- Fabio Canova & Luca Sala, 2007. "Back to square one: identification issues in DSGE models," Working Papers 0715, Banco de España.
- Fabio Canova & Luca Sala, 2006. "Back to Square One: Identification Issues in DSGE Models," Working Papers 303, IGIER (Innocenzo Gasparini Institute for Economic Research), Bocconi University.
- Fabio Canova & Luca Sala, 2006. "Back to square one: identification issues in DSGE models," Computing in Economics and Finance 2006 196, Society for Computational Economics.
- Canova, Fabio & Sala, Luca, 2006. "Back to square one: identification issues in DSGE models," Working Paper Series 583, European Central Bank.
- Maurice Obstfeld & Kenneth S. Rogoff, 1996. "Foundations of International Macroeconomics," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262150476, December.
- David Altig & Lawrence Christiano & Martin Eichenbaum & Jesper Linde, 2011.
"Firm-Specific Capital, Nominal Rigidities and the Business Cycle,"
Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 14(2), pages 225-247, April.
- David E. Altig & Lawrence J. Christiano & Martin S. Eichenbaum & Jesper Lindé, 2004. "Firm-specific capital, nominal rigidities, and the business cycle," Working Papers (Old Series) 0416, Federal Reserve Bank of Cleveland.
- David Altig & Lawrence Christiano & Martin Eichenbaum & Jesper Linde, 2005. "Firm-Specific Capital, Nominal Rigidities and the Business Cycle," NBER Working Papers 11034, National Bureau of Economic Research, Inc.
- Eichenbaum, Martin & Christiano, Lawrence J. & Linde, Jesper & Altig, David E, 2005. "Firm-Specific Capital, Nominal Rigidities and the Business Cycle," CEPR Discussion Papers 4858, C.E.P.R. Discussion Papers.
- David E. Altig & Lawrence J. Christiano & Martin S. Eichenbaum & Jesper Lindé, 2010. "Firm-specific capital, nominal rigidities and the business cycle," International Finance Discussion Papers 990, Board of Governors of the Federal Reserve System (U.S.).
- David E. Altig & Lawrence J. Christiano & Martin S. Eichenbaum & Jesper Lindé, 2004. "Firm-specific capital, nominal rigidities and the business cycle," Working Paper Series WP-05-01, Federal Reserve Bank of Chicago.
- Altig, David & Christiano, Lawrence & Eichenbaum, Martin & Lindé, Jesper, 2004. "Firm-Specific Capital, Nominal Rigidities and the Business Cycle," Working Paper Series 176, Sveriges Riksbank (Central Bank of Sweden).
- Christiano, Lawrence J. & Eichenbaum, Martin & Evans, Charles L., 1999.
"Monetary policy shocks: What have we learned and to what end?,"
Handbook of Macroeconomics, in: J. B. Taylor & M. Woodford (ed.), Handbook of Macroeconomics, edition 1, volume 1, chapter 2, pages 65-148,
Elsevier.
- Lawrence J. Christiano & Martin S. Eichenbaum & Charles L. Evans, 1997. "Monetary policy shocks: what have we learned and to what end?," Working Paper Series, Macroeconomic Issues WP-97-18, Federal Reserve Bank of Chicago.
- Lawrence J. Christiano & Martin Eichenbaum & Charles L. Evans, 1998. "Monetary Policy Shocks: What Have We Learned and to What End?," NBER Working Papers 6400, National Bureau of Economic Research, Inc.
- V. V. Chari & Patrick J. Kehoe & Ellen R. McGrattan, 2009.
"New Keynesian Models: Not Yet Useful for Policy Analysis,"
American Economic Journal: Macroeconomics, American Economic Association, vol. 1(1), pages 242-266, January.
- V.V. Chari & Patrick J. Kehoe & Ellen R. McGrattan, 2008. "New Keynesian Models: Not Yet Useful for Policy Analysis," NBER Working Papers 14313, National Bureau of Economic Research, Inc.
- V. V. Chari & Patrick J. Kehoe & Ellen R. McGrattan, 2008. "New Keynesian models: not yet useful for policy analysis," Staff Report 409, Federal Reserve Bank of Minneapolis.
- V. V. Chari & Patrick J. Kehoe & Ellen R. McGrattan, 2008. "New Keynesian models: not yet useful for policy analysis," Working Papers 664, Federal Reserve Bank of Minneapolis.
- Mark Gertler & Jordi Gali & Richard Clarida, 1999.
"The Science of Monetary Policy: A New Keynesian Perspective,"
Journal of Economic Literature, American Economic Association, vol. 37(4), pages 1661-1707, December.
- Richard Clarida & Jordi Galí & Mark Gertler, 1997. "The science of monetary policy: A new Keynesian perspective," Economics Working Papers 356, Department of Economics and Business, Universitat Pompeu Fabra, revised Apr 1999.
- Clarida, Richard & Galí, Jordi & Gertler, Mark, 1999. "The Science of Monetary Policy: A New Keynesian Perspective," CEPR Discussion Papers 2139, C.E.P.R. Discussion Papers.
- Richard Clarida & Jordi Gali & Mark Gertler, 1999. "The Science of Monetary Policy: A New Keynesian Perspective," NBER Working Papers 7147, National Bureau of Economic Research, Inc.
- Marvin Goodfriend, 2007.
"How the World Achieved Consensus on Monetary Policy,"
Journal of Economic Perspectives, American Economic Association, vol. 21(4), pages 47-68, Fall.
- Marvin Goodfriend, 2007. "How the World Achieved Consensus on Monetary Policy," NBER Working Papers 13580, National Bureau of Economic Research, Inc.
- Dupor, Bill & Han, Jing & Tsai, Yi-Chan, 2009. "What do technology shocks tell us about the New Keynesian paradigm?," Journal of Monetary Economics, Elsevier, vol. 56(4), pages 560-569, May.
- Ben S. Bernanke & Julio J. Rotemberg (ed.), 1997. "NBER Macroeconomics Annual 1997," MIT Press Books, The MIT Press, edition 1, volume 1, number 026252242x, December.
- Christopher A. Sims, 1989.
"Models and Their Uses,"
American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 71(2), pages 489-494.
- Christopher A. Sims, 1989. "Models and their uses," Discussion Paper / Institute for Empirical Macroeconomics 11, Federal Reserve Bank of Minneapolis.
- Lucas, Robert Jr., 1994. "Comments on Ball and Mankiw," Carnegie-Rochester Conference Series on Public Policy, Elsevier, vol. 41(1), pages 153-155, December.
- Snowdon, Brian, 2004. "Outside The Mainstream: An Interview With Axel Leijonhufvud," Macroeconomic Dynamics, Cambridge University Press, vol. 8(1), pages 117-145, February.
- Kydland, Finn E & Prescott, Edward C, 1982.
"Time to Build and Aggregate Fluctuations,"
Econometrica, Econometric Society, vol. 50(6), pages 1345-1370, November.
- Finn E. Kydland & Edward C. Prescott, 1982. "Executable program for "Time to Build and Aggregate Fluctuations"," QM&RBC Codes 4, Quantitative Macroeconomics & Real Business Cycles.
- Finn E. Kydland & Edward C. Prescott, 1982. "Web interface for "Time to Build and Aggregate Fluctuations"," QM&RBC Codes 4a, Quantitative Macroeconomics & Real Business Cycles.
- Eichenbaum, Martin, 1997. "Some Thoughts on Practical Stabilization Policy," American Economic Review, American Economic Association, vol. 87(2), pages 236-239, May.
- repec:fth:harver:1470 is not listed on IDEAS
- Kerry A. Pearce & Kevin D. Hoover, 1995. "After the Revolution: Paul Samuelson and the Textbook Keynesian Model," History of Political Economy, Duke University Press, vol. 27(5), pages 183-216, Supplemen.
- Mankiw, N Gregory, 1990.
"A Quick Refresher Course in Macroeconomics,"
Journal of Economic Literature, American Economic Association, vol. 28(4), pages 1645-1660, December.
- N. Gregory Mankiw, 1990. "A Quick Refresher Course in Macroeconomics," NBER Working Papers 3256, National Bureau of Economic Research, Inc.
- Ball, Laurence & Mankiw, N. Gregory, 1994.
"A sticky-price manifesto,"
Carnegie-Rochester Conference Series on Public Policy, Elsevier, vol. 41(1), pages 127-151, December.
- Laurence Ball & N. Gregory Mankiw, 1994. "A sticky-price manifesto," Proceedings, Federal Reserve Bank of Dallas, issue Apr.
- Laurence Ball & N. Gregory Mankiw, 1994. "A Sticky-Price Manifesto," NBER Working Papers 4677, National Bureau of Economic Research, Inc.
- V. V. Chari & Patrick J. Kehoe, 2006.
"Modern Macroeconomics in Practice: How Theory Is Shaping Policy,"
Journal of Economic Perspectives, American Economic Association, vol. 20(4), pages 3-28, Fall.
- V. V. Chari & Patrick J. Kehoe, 2006. "Modern macroeconomics in practice: how theory is shaping policy," Staff Report 376, Federal Reserve Bank of Minneapolis.
- Patrick Kehoe & Varadarajan V. Chari, 2006. "Modern Macroeconomics in Practice: How Theory is Shaping Policy," NBER Working Papers 12476, National Bureau of Economic Research, Inc.
- Sims, Christopher A., 1992.
"Interpreting the macroeconomic time series facts : The effects of monetary policy,"
European Economic Review, Elsevier, vol. 36(5), pages 975-1000, June.
- Christopher A. Sims, 1992. "Interpreting the Macroeconomic Time Series Facts: The Effects of Monetary Policy," Cowles Foundation Discussion Papers 1011, Cowles Foundation for Research in Economics, Yale University.
- Laidler, David, 2006.
"Woodford and Wicksell on Interest and Prices: The Place of the Pure Credit Economy in the Theory of Monetary Policy,"
Journal of the History of Economic Thought, Cambridge University Press, vol. 28(2), pages 151-159, June.
- David Laidler, 2004. "Woodford and Wicksell on Interest and Prices The Place of the Pure Credit Economy in the Theory of Monetary Policy," University of Western Ontario, Economic Policy Research Institute Working Papers 20045, University of Western Ontario, Economic Policy Research Institute.
- Bruce C. Greenwald & Joseph E. Stiglitz, 1988. "Examining Alternative Macroeconomic Theories," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 19(1), pages 207-270.
- Mehrling, Perry, 2006. "Mr. Woodford and the Challenge of Finance," Journal of the History of Economic Thought, Cambridge University Press, vol. 28(2), pages 161-170, June.
- Solow, Robert M, 1997. "Is There a Core of Usable Macroeconomics We Should All Believe In?," American Economic Review, American Economic Association, vol. 87(2), pages 230-232, May.
- Mankiw, N Gregory, 1989.
"Real Business Cycles: A New Keynesian Perspective,"
Journal of Economic Perspectives, American Economic Association, vol. 3(3), pages 79-90, Summer.
- N. Gregory Mankiw, 1989. "Real Business Cycles: A New Keynesian Perspective," NBER Working Papers 2882, National Bureau of Economic Research, Inc.
- Lawrence J. Christiano & Martin Eichenbaum & Charles L. Evans, 2005.
"Nominal Rigidities and the Dynamic Effects of a Shock to Monetary Policy,"
Journal of Political Economy, University of Chicago Press, vol. 113(1), pages 1-45, February.
- Lawrence J. Christiano & Martin S. Eichenbaum & Charles L. Evans, 2001. "Nominal rigidities and the dynamic effects of a shock to monetary policy," Proceedings, Federal Reserve Bank of San Francisco, issue Jun.
- Lawrence J. Christiano & Martin Eichenbaum & Charles Evans, 2001. "Nominal Rigidities and the Dynamic Effects of a Shock to Monetary Policy," NBER Working Papers 8403, National Bureau of Economic Research, Inc.
- Lawrence J. Christiano & Martin S. Eichenbaum & Charles L. Evans, 2001. "Nominal rigidities and the dynamic effects of a shock to monetary policy," Working Paper Series WP-01-08, Federal Reserve Bank of Chicago.
- Lawrence J. Christiano & Martin S. Eichenbaum & Charles L. Evans, 2001. "Nominal rigidities and the dynamic effects of a shock to monetary policy," Working Papers (Old Series) 0107, Federal Reserve Bank of Cleveland.
- repec:cup:cbooks:9780521802727 is not listed on IDEAS
- Bruce Greenwald & Joseph E. Stiglitz, 1993. "New and Old Keynesians," Journal of Economic Perspectives, American Economic Association, vol. 7(1), pages 23-44, Winter.
- Milton Friedman & Anna J. Schwartz, 1963. "A Monetary History of the United States, 1867–1960," NBER Books, National Bureau of Economic Research, Inc, number frie63-1.
- Kydland, Finn E & Prescott, Edward C, 1991.
"Hours and Employment Variation in Business Cycle Theory,"
Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 1(1), pages 63-81, January.
- Finn E. Kydland & Edward C. Prescott, 1991. "Hours and Employment Variation in Business-Cycle Theory," International Economic Association Series, in: Niels Thygesen & Kumaraswamy Velupillai & Stefano Zambelli (ed.), Business Cycles, chapter 5, pages 107-134, Palgrave Macmillan.
- Finn E. Kydland & Edward C. Prescott, 1989. "Hours and employment variation in business cycle theory," Discussion Paper / Institute for Empirical Macroeconomics 17, Federal Reserve Bank of Minneapolis.
- Michel De Vroey & Kevin D. Hoover, 2004. "Introduction: Seven Decades of the IS-LM Model," History of Political Economy, Duke University Press, vol. 36(5), pages 1-11, Supplemen.
- 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.
- Phelps, Edmund, 2015.
"Seven Schools of Macroeconomic Thought,"
OUP Catalogue,
Oxford University Press, number 9780198743903, December.
- Phelps, Edmund S., 1990. "Seven Schools of Macroeconomic Thought," OUP Catalogue, Oxford University Press, number 9780198283331, Decembrie.
- Mankiw, N. Gregory, 1992.
"The reincarnation of Keynesian economics,"
European Economic Review, Elsevier, vol. 36(2-3), pages 559-565, April.
- Mankiw, N.G., 1991. "The Reincarnation of Keynesian Economoics," Harvard Institute of Economic Research Working Papers 1572, Harvard - Institute of Economic Research.
- N. Gregory Mankiw, 1991. "The Reincarnation of Keynesian Economics," NBER Working Papers 3885, National Bureau of Economic Research, Inc.
- Howard R. Vane & John L. Thompson, 1992. "Current Controversies In Macroeconomics," Books, Edward Elgar Publishing, number 453.
- repec:cup:cbooks:9780521645966 is not listed on IDEAS
- Lucas, Robert E, Jr, 1973. "Some International Evidence on Output-Inflation Tradeoffs," American Economic Review, American Economic Association, vol. 63(3), pages 326-334, June.
- Woodford, Michael, 2006. "Comments on the Symposium on Interest and Prices," Journal of the History of Economic Thought, Cambridge University Press, vol. 28(2), pages 187-198, June.
- Taylor, John B., 1997.
"A Core of Practical Macroeconomics,"
Choices: The Magazine of Food, Farm, and Resource Issues, Agricultural and Applied Economics Association, vol. 12(4), pages 1-3.
- Taylor, John B, 1997. "A Core of Practical Macroeconomics," American Economic Review, American Economic Association, vol. 87(2), pages 233-235, May.
- Alan P. Kirman, 1992. "Whom or What Does the Representative Individual Represent?," Journal of Economic Perspectives, American Economic Association, vol. 6(2), pages 117-136, Spring.
- repec:cup:cbooks:9780521825542 is not listed on IDEAS
- Olivier Blanchard, 2000.
"What Do We Know about Macroeconomics that Fisher and Wicksell Did Not?,"
The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 115(4), pages 1375-1409.
- Olivier Blanchard, 2000. "What do we know about Macroeconomics that Fisher and Wicksell did not?," NBER Working Papers 7550, National Bureau of Economic Research, Inc.
- Olivier Jean Blanchard, 1992. "For a return to pragmatism," Proceedings, Federal Reserve Bank of St. Louis, pages 121-132.
- Lucas, Robert Jr., 1972. "Expectations and the neutrality of money," Journal of Economic Theory, Elsevier, vol. 4(2), pages 103-124, April.
- Julio J. Rotemberg & Michael Woodford, 1997. "An Optimization-Based Econometric Framework for the Evaluation of Monetary Policy," NBER Chapters, in: NBER Macroeconomics Annual 1997, Volume 12, pages 297-361, National Bureau of Economic Research, Inc.
- Jeroen C. J. M. van den Bergh & John M. Gowdy, 2003.
"The microfoundations of macroeconomics: an evolutionary perspective,"
Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 27(1), pages 65-84, January.
- Jeroen C.J.M. van den Bergh & John M. Gowdy, 2000. "The Microfoundations of Macroeconomics: An Evolutionary Perspective," Tinbergen Institute Discussion Papers 00-021/3, Tinbergen Institute.
- Olivier Blanchard, 2009.
"The State of Macro,"
Annual Review of Economics, Annual Reviews, vol. 1(1), pages 209-228, May.
- Olivier J. Blanchard, 2008. "The State of Macro," NBER Working Papers 14259, National Bureau of Economic Research, Inc.
- Philip Arestis & Malcolm Sawyer, 2008. "A critical reconsideration of the foundations of monetary policy in the new consensus macroeconomics framework," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 32(5), pages 761-779, September.
- Mark Gertler & Jordi Gali & Richard Clarida, 1999.
"The Science of Monetary Policy: A New Keynesian Perspective,"
Journal of Economic Literature,
American Economic Association, vol. 37(4), pages 1661-1707, December.
- Richard Clarida & Jordi Galí & Mark Gertler, 1997. "The science of monetary policy: A new Keynesian perspective," Economics Working Papers 356, Department of Economics and Business, Universitat Pompeu Fabra, revised Apr 1999.
- Clarida, R. & Gali, J. & Gertler, M., 1999. "The Science of Monetary Policy: A New Keynesian Perspective," Working Papers 99-13, C.V. Starr Center for Applied Economics, New York University.
- Richard Clarida & Jordi Gali & Mark Gertler, 1999. "The Science of Monetary Policy: A New Keynesian Perspective," NBER Working Papers 7147, National Bureau of Economic Research, Inc.
- Clarida, Richard & Galí, Jordi & Gertler, Mark, 1999. "The Science of Monetary Policy: A New Keynesian Perspective," CEPR Discussion Papers 2139, C.E.P.R. Discussion Papers.
- Brian Snowdon & Howard Vane, 1998. "Transforming macroeconomics: an interview with Robert E. Lucas Jr," Journal of Economic Methodology, Taylor & Francis Journals, vol. 5(1), pages 115-146.
- Bill Gerrard, 1996. "Competing schools of thought in macroeconomics - an ever-emerging consensus?," Journal of Economic Studies, Emerald Group Publishing, vol. 23(1), pages 53-69, January.
- Krugman, Paul, 2000. "How Complicated Does the Model Have to Be?," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 16(4), pages 33-42, Winter.
- Michel De Vroey, 2004.
"The History of Macroeconomics Viewed against the Background of the Marshall-Walras Divide,"
History of Political Economy, Duke University Press, vol. 36(5), pages 57-91, Supplemen.
- Michel, DE VROEY, 2004. "The History of Macroeconomics Viewed Against the Background of the Marshall-Walras Divide," LIDAM Discussion Papers IRES 2004017, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
- Frederic S. Mishkin, 2007.
"Will monetary policy become more of a science?,"
Finance and Economics Discussion Series
2007-44, Board of Governors of the Federal Reserve System (U.S.).
- Frederic S. Mishkin, 2007. "Will Monetary Policy Become More of a Science?," NBER Working Papers 13566, National Bureau of Economic Research, Inc.
- repec:cup:cbooks:9780521003216 is not listed on IDEAS
- Kormendi, Roger C & Meguire, Philip G, 1984. "Cross-Regime Evidence of Macroeconomic Rationality," Journal of Political Economy, University of Chicago Press, vol. 92(5), pages 875-908, October.
- repec:cup:cbooks:9780521532617 is not listed on IDEAS
- Sheila C. Dow, 1996. "The Methodology of Macroeconomic Thought," Books, Edward Elgar Publishing, number 933.
- George A. Akerlof, 2007. "The Missing Motivation in Macroeconomics," American Economic Review, American Economic Association, vol. 97(1), pages 5-36, March.
- Spear, Stephen E. & Wright, Randall, 1998. "Interview With David Cass," Macroeconomic Dynamics, Cambridge University Press, vol. 2(4), pages 533-558, December.
- Caballero, Ricardo J, 1992.
"A Fallacy of Composition,"
American Economic Review, American Economic Association, vol. 82(5), pages 1279-1292, December.
- Ricardo J. Caballero, 1991. "A Fallacy of Composition," NBER Working Papers 3735, National Bureau of Economic Research, Inc.
- Finn E. Kydland & Edward C. Prescott, 1990. "Business cycles: real facts and a monetary myth," Quarterly Review, Federal Reserve Bank of Minneapolis, vol. 14(Spr), pages 3-18.
- Lucas, Robert Jr, 1976. "Econometric policy evaluation: A critique," Carnegie-Rochester Conference Series on Public Policy, Elsevier, vol. 1(1), pages 19-46, January.
- David Altig & Lawrence Christiano & Martin Eichenbaum & Jesper Linde, 2011.
"Firm-Specific Capital, Nominal Rigidities and the Business Cycle,"
Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 14(2), pages 225-247, April.
- David Altig & Lawrence Christiano & Martin Eichenbaum & Jesper Linde, 2005. "Online Appendix to "Firm-Specific Capital, Nominal Rigidities and the Business Cycle"," Online Appendices 09-191, Review of Economic Dynamics.
- Mark Blaug, 1975. "Kuhn Versus Lakatos, or Paradigms Versus Research Programmes in the History of Economics," History of Political Economy, Duke University Press, vol. 7(4), pages 399-433, Winter.
- repec:cup:cbooks:9780521865487 is not listed on IDEAS
- Phelps, Edmund S & Taylor, John B, 1977. "Stabilizing Powers of Monetary Policy under Rational Expectations," Journal of Political Economy, University of Chicago Press, vol. 85(1), pages 163-190, February.
- repec:bla:ecorec:v:65:y:1989:i:189:p:177-84 is not listed on IDEAS
- Lucas, Robert E, Jr, 1975. "An Equilibrium Model of the Business Cycle," Journal of Political Economy, University of Chicago Press, vol. 83(6), pages 1113-1144, December.
- Blinder, Alan S, 1997. "Is There a Core of Practical Macroeconomics That We Should All Believe?," American Economic Review, American Economic Association, vol. 87(2), pages 240-243, May.
- Brian Snowdon & Howard Vane, 1995. "New-Keynesian Economics Today: The Empire Strikes Back," The American Economist, Sage Publications, vol. 39(1), pages 48-65, March.
- Pedro Garcia Duarte, 2011. "Recent Developments in Macroeconomics: The DSGE Approach to Business Cycles in Perspective," Chapters, in: John B. Davis & D. Wade Hands (ed.), The Elgar Companion to Recent Economic Methodology, chapter 16, Edward Elgar Publishing.
- repec:cup:cbooks:9780521684200 is not listed on IDEAS
- repec:cup:cbooks:9780521641739 is not listed on IDEAS
- Pedro Garcia Duarte & Kevin D. Hoover, 2012. "Observing Shocks," History of Political Economy, Duke University Press, vol. 44(5), pages 226-249, Supplemen.
- Blanchard, Olivier, 2005. "An Interview With Stanley Fischer," Macroeconomic Dynamics, Cambridge University Press, vol. 9(02), pages 244-262, April.
- Frank Smets & Raf Wouters, 2003.
"An Estimated Dynamic Stochastic General Equilibrium Model of the Euro Area,"
Journal of the European Economic Association, MIT Press, vol. 1(5), pages 1123-1175, September.
- Frank Smets & Raf Wouters, 2002. "An estimated dynamic stochastic general equilibrium model of the euro area," Working Paper Research 35, National Bank of Belgium.
- Pedro Garcia Duarte & Gilberto Tadeu Lima, 2012. "Microfoundations Reconsidered," Books, Edward Elgar Publishing, number 14869.
- Fischer, Stanley, 1977. "Long-Term Contracts, Rational Expectations, and the Optimal Money Supply Rule," Journal of Political Economy, University of Chicago Press, vol. 85(1), pages 191-205, February.
- Robert M. Solow, 1979. "Alternative Approaches to Macroeconomic Theory: A Partial View," Canadian Journal of Economics, Canadian Economics Association, vol. 12(3), pages 339-354, August.
- Christopher A. Sims, 2004. "Econometrics for Policy Analysis: Progress and Regress," De Economist, Springer, vol. 152(2), pages 167-175, June.
- David Romer, 1993. "The New Keynesian Synthesis," Journal of Economic Perspectives, American Economic Association, vol. 7(1), pages 5-22, Winter.
Citations
Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
Cited by:
- De Vroey Michel & Duarte Pedro Garcia, 2013.
"In search of lost time: the neoclassical synthesis,"
The B.E. Journal of Macroeconomics, De Gruyter, vol. 13(1), pages 965-995, January.
- Michel De Vroey & Pedro Garcia Duarte, 2012. "In Search of Lost Time: The Neoclassical Synthesis," Working Papers, Department of Economics 2012_07, University of São Paulo (FEA-USP).
- Michel DE VROEY & Pedro GARCIA DUARTE, 2012. "In Search Of Lost Time: The Neoclassical Synthesis," LIDAM Discussion Papers IRES 2012026, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
- Pedro Garcia Duarte & Michel De Vroey, 2014. "In Search Of Lost Time: The Neoclassicalsynthesis," Anais do XL Encontro Nacional de Economia [Proceedings of the 40th Brazilian Economics Meeting] 005, ANPEC - Associação Nacional dos Centros de Pós-Graduação em Economia [Brazilian Association of Graduate Programs in Economics].
- Chatelain, Jean-Bernard & Ralf, Kirsten, 2018.
"Publish and Perish: Creative Destruction and Macroeconomic Theory,"
EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 46(2), pages 65-101.
- Chatelain, Jean-Bernard & Ralf, Kirsten, 2017. "Publish and Perish: Creative Destruction and Macroeconomic Theory," EconStor Preprints 149994, ZBW - Leibniz Information Centre for Economics.
- Jean-Bernard Chatelain & Kirsten Ralf, 2019. "Publish and Perish: Creative Destruction and Macroeconomic Theory," PSE Working Papers halshs-01720655, HAL.
- Jean-Bernard Chatelain & Kirsten Ralf, 2018. "Publish and Perish: Creative Destruction and Macroeconomic Theory," Post-Print hal-01465858, HAL.
- Chatelain, Jean-Bernard & Ralf, Kirsten, 2017. "Publish and Perish: Creative Destruction and Macroeconomic Theory," MPRA Paper 76825, University Library of Munich, Germany.
- Jean-Bernard Chatelain & Kirsten Ralf, 2019. "Publish and Perish: Creative Destruction and Macroeconomic Theory," Papers 1908.10680, arXiv.org.
- Jean-Bernard Chatelain & Kirsten Ralf, 2019. "Publish and Perish: Creative Destruction and Macroeconomic Theory," Working Papers halshs-01720655, HAL.
- Jean-Bernard Chatelain & Kirsten Ralf, 2018. "Publish and Perish: Creative Destruction and Macroeconomic Theory," PSE-Ecole d'économie de Paris (Postprint) hal-01465858, HAL.
- Hugo Chu Chun Wei, 2018. "Representative Agent, Rational Expectations, And General Equilibrium Theory In Lucas?S Theoretical Framework: Some Considerations," Anais do XLIV Encontro Nacional de Economia [Proceedings of the 44th Brazilian Economics Meeting] 9, ANPEC - Associação Nacional dos Centros de Pós-Graduação em Economia [Brazilian Association of Graduate Programs in Economics].
- Aurélien Goutsmedt, 2017.
"Stagflation and the crossroad in macroeconomics: the struggle between structural and New Classical macroeconometrics,"
Documents de travail du Centre d'Economie de la Sorbonne
17043, Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne.
- Aurélien Goutsmedt, 2017. "Stagflation and the crossroad in macroeconomics: the struggle between structural and New Classical macroeconometrics," Post-Print halshs-01625188, HAL.
- Aurélien Goutsmedt, 2017. "Stagflation and the crossroad in macroeconomics: the struggle between structural and New Classical macroeconometrics," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-01625188, HAL.
- Aurélien Goutsmedt, 2016.
"The New Classical Explanation of the Stagflation: A Psychological Way of Thinking,"
Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers)
halshs-01281962, HAL.
- Aurélien Goutsmedt, 2016. "The New Classical Explanation of the Stagflation: A Psychological Way of Thinking," Documents de travail du Centre d'Economie de la Sorbonne 16018, Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne.
- Aurélien Goutsmedt, 2016. "The New Classical Explanation of the Stagflation: A Psychological Way of Thinking," Post-Print halshs-01281962, HAL.
- Pedro Garcia Duarte, 2011. "Recent Developments in Macroeconomics: The DSGE Approach to Business Cycles in Perspective," Chapters, in: John B. Davis & D. Wade Hands (ed.), The Elgar Companion to Recent Economic Methodology, chapter 16, Edward Elgar Publishing.
- Hugo C. W. Chu, 2015. "Lucas’ Equilibrium Account of the Business Cycle: Optimizing Behavior, General Equilibrium, and Modeling Rational Expectations," Working Papers, Department of Economics 2015_30, University of São Paulo (FEA-USP).
- Pedro Garcia Duarte, 2015.
"From real business cycle and new Keynesian to DSGE Macroeconomics: facts and models in the emergence of a consensus,"
Working Papers, Department of Economics
2015_05, University of São Paulo (FEA-USP).
- Pedro Garcia Duarte, 2016. "From Real Business Cycle And New Keynesian To Dsge Macroeconomics: Facts And Models In The Emergence Of A Consensus," Anais do XLIII Encontro Nacional de Economia [Proceedings of the 43rd Brazilian Economics Meeting] 009, ANPEC - Associação Nacional dos Centros de Pós-Graduação em Economia [Brazilian Association of Graduate Programs in Economics].
- André Roncaglia de Carvalho, 2013. "Inflation, structural change and conflict in post-disinflation Brazil: a structuralist appraisal," Working Papers, Department of Economics 2013_25, University of São Paulo (FEA-USP).
- 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].
- Pedro Garcia Duarte & Kevin D. Hoover, 2012. "Observing Shocks," History of Political Economy, Duke University Press, vol. 44(5), pages 226-249, Supplemen.
- Matthieu Renault, 2018. "Edmond Malinvaud´s Criticisms of the New Classical Economics: Restoring the Nature and the Rationale of the Old Keynesians´ Opposition," Working Papers, Department of Economics 2018_21, University of São Paulo (FEA-USP).
- Michael Assous & Pedro Garcia Duarte, 2017. "Challenging Lucas: from overlapping generations to infinite-lived agent models," Working Papers, Department of Economics 2017_03, University of São Paulo (FEA-USP).
- Ítalo Pedrosa & Maryse Farhi, 2015. "Macroeconomic theory in the aftermath of the crisis: mainstream and new Keynesianism [Macroeconomic theory in the aftermath of the crisis: mainstream and new Keynesianism]," Nova Economia, Economics Department, Universidade Federal de Minas Gerais (Brazil), vol. 25(2), pages 237-260, May-Augus.
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Pedro Garcia Duarte & Gilberto Tadeu Lima, 2012. "Microfoundations Reconsidered," Books, Edward Elgar Publishing, number 14869.
- Adnan Haider Bukhari & Safdar Ullah Khan, 2008.
"A Small Open Economy DSGE Model for Pakistan,"
The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 47(4), pages 963-1008.
- Haider, Adnan & Khan, Safdar Ullah, 2008. "A Small Open Economy DSGE Model for Pakistan," MPRA Paper 12977, University Library of Munich, Germany, revised 17 Jan 2009.
- Adnan Haider & Musleh ud Din & Ejaz Ghani, 2012.
"Monetary Policy, Informality and Business Cycle Fluctuations in a Developing Economy Vulnerable to External Shocks,"
The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 51(4), pages 609-681.
- Haider, Adnan & Din, Musleh-ud & Ghani, Ejaz, 2012. "Monetary policy, informality and business cycle fluctuations in a developing economy vulnerable to external shocks," MPRA Paper 42484, University Library of Munich, Germany.
- Adnan Haider & Musleh-ud Din & Ejaz Ghani, 2013. "Monetary Policy, Informality and Business Cycle Fluctuations in a Developing Economy Vulnerable to External Shocks," SBP Working Paper Series 65, State Bank of Pakistan, Research Department.
- Schmidt, Sebastian & Wieland, Volker, 2013.
"The New Keynesian Approach to Dynamic General Equilibrium Modeling: Models, Methods and Macroeconomic Policy Evaluation,"
Handbook of Computable General Equilibrium Modeling, in: Peter B. Dixon & Dale Jorgenson (ed.), Handbook of Computable General Equilibrium Modeling, edition 1, volume 1, chapter 0, pages 1439-1512,
Elsevier.
- Schmidt, Sebastian & Wieland, Volker, 2012. "The new keynesian approach to dynamic general equilibrium modeling: Models, methods, and macroeconomic policy evaluation," IMFS Working Paper Series 52, Goethe University Frankfurt, Institute for Monetary and Financial Stability (IMFS).
- Stijn Claessens & M Ayhan Kose, 2018. "Frontiers of macrofinancial linkages," BIS Papers, Bank for International Settlements, number 95.
- Mankiw, N Gregory, 2001.
"The Inexorable and Mysterious Tradeoff between Inflation and Unemployment,"
Economic Journal, Royal Economic Society, vol. 111(471), pages 45-61, May.
- N. Gregory Mankiw, 2000. "The Inexorable and Mysterious Tradeoff Between Inflation and Unemployment," NBER Working Papers 7884, National Bureau of Economic Research, Inc.
- N. Gregory Mankiw, 2000. "The Inexorable and Mysterious Tradeoff Between Inflation and Unemployment," Harvard Institute of Economic Research Working Papers 1905, Harvard - Institute of Economic Research.
- Francesco Sergi, 2020. "The Standard Narrative about DSGE Models in Central Banks’ Technical Reports," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 27(2), pages 163-193, March.
- Michael Paetz, 2007. "Robust Control and Persistence in the New Keynesian Economy," Quantitative Macroeconomics Working Papers 20711, Hamburg University, Department of Economics.
- Yuli Radev, 2015. "New dynamic disequilibrium," Economic Thought journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 6, pages 65-90.
- Pedro Garcia Duarte & Kevin D. Hoover, 2012. "Observing Shocks," History of Political Economy, Duke University Press, vol. 44(5), pages 226-249, Supplemen.
- Issing Otmar & Wieland Volker, 2013.
"Monetary Theory and Monetary Policy: Reflections on the Development over the last 150 Years,"
Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik), De Gruyter, vol. 233(3), pages 423-445, June.
- Issing, Otmar & Wieland, Volker, 2012. "Monetary theory and monetary policy: Reflections on the development over the last 150 years," CFS Working Paper Series 2012/20, Center for Financial Studies (CFS).
- Issing, Otmar & Wieland, Volker, 2012. "Monetary theory and monetary policy: Reflections on the development over the last 150 years," IMFS Working Paper Series 67, Goethe University Frankfurt, Institute for Monetary and Financial Stability (IMFS).
- Akhand Akhtar Hossain, 2009. "Central Banking and Monetary Policy in the Asia-Pacific," Books, Edward Elgar Publishing, number 12777.
- Giorgio Fagiolo & Andrea Roventini, 2017.
"Macroeconomic Policy in DSGE and Agent-Based Models Redux: New Developments and Challenges Ahead,"
Journal of Artificial Societies and Social Simulation, Journal of Artificial Societies and Social Simulation, vol. 20(1), pages 1-1.
- G. Fagiolo & A. Roventini, 2016. "Macroeconomic policy in DGSE and agent based models redux : new developments and challenges ahead," Documents de Travail de l'OFCE 2016-11, Observatoire Francais des Conjonctures Economiques (OFCE).
- Giorgio Fagiolo & Andrea Roventini, 2016. "Macroeconomic Policy in DSGE and Agent-Based Models Redux: New Developments and Challenges Ahead," LEM Papers Series 2016/17, Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy.
- Senbeta, Sisay, 2011.
"How applicable are the new keynesian DSGE models to a typical low-income economy?,"
MPRA Paper
30931, University Library of Munich, Germany.
- SENBATA, Sisay Regassa, 2011. "How applicable are the new Keynesian DSGE models to a typical low-income economy?," Working Papers 2011016, University of Antwerp, Faculty of Business and Economics.
- Trabandt, Mathias, 2003.
"Sticky Information vs. Sticky Prices : A Horse Race in a DSGE Framework,"
SFB 373 Discussion Papers
2003,41, Humboldt University of Berlin, Interdisciplinary Research Project 373: Quantification and Simulation of Economic Processes.
- Trabandt, Mathias, 2007. "Sticky Information vs. Sticky Prices: A Horse Race in a DSGE Framework," Working Paper Series 209, Sveriges Riksbank (Central Bank of Sweden).
- Trabandt, Mathias, 2007. "Sticky Information vs. Sticky Prices: A Horse Race in a DSGE Framework," Kiel Working Papers 1369, Kiel Institute for the World Economy (IfW Kiel).
- Mathias Trabandt, 2004. "Sticky Information vs. Sticky Prices: A Horse Race in a DSGE Framework," 2004 Meeting Papers 543, Society for Economic Dynamics.
- Giovanni Dosi & Andrea Roventini, 2019.
"More is different ... and complex! the case for agent-based macroeconomics,"
Journal of Evolutionary Economics, Springer, vol. 29(1), pages 1-37, March.
- Giovanni Dosi & Andrea Roventini, 2019. "More is Different ... and Complex! The Case for Agent-Based Macroeconomics," LEM Papers Series 2019/01, Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy.
- Ronny Mazzocchi, 2013. "Scope and Flaws of the New Neoclassical Synthesis," DEM Discussion Papers 2013/13, Department of Economics and Management.
- Ambler, Steve & Guay, Alain & Phaneuf, Louis, 2012. "Endogenous business cycle propagation and the persistence problem: The role of labor-market frictions," Journal of Economic Dynamics and Control, Elsevier, vol. 36(1), pages 47-62.
- Stepanyan Ara & Tevosyan Anahit, 2008. "A small open economy model with remittances: Evidence from Armenian economy," EERC Working Paper Series 08/06e, EERC Research Network, Russia and CIS.
- Robert G. King, 2000. "The new IS-LM model : language, logic, and limits," Economic Quarterly, Federal Reserve Bank of Richmond, issue Sum, pages 45-103.
More about this item
Keywords
new neoclassical synthesis; microfoundations; DSGE models; consensus;All these keywords.
JEL classification:
- B22 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Macroeconomics
- B20 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - General
- E30 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - General (includes Measurement and Data)
Statistics
Access and download statisticsCorrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spa:wpaper:2011wpecon02. See general information about how to correct material in RePEc.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Pedro Garcia Duarte (email available below). General contact details of provider: https://edirc.repec.org/data/deuspbr.html .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.