Macroeconomics and the Real World

Volume 2: Keynesian Economics, Unemployment, and Policy

Edited by Roger E. Backhouse and Andrea Salanti

A clear presentation of opposing perspectives on macroeconomics

Macroeconomics and the Real World

Volume 2: Keynesian Economics, Unemployment, and Policy

Edited by Roger E. Backhouse and Andrea Salanti

Description

In these two volumes, a group of distinguished economists debate the way in which evidence, in particular econometric evidence, can and should be used to relate macroeconomic theories to the real world. Topics covered include the business cycle, monetary policy, economic growth, the impact of new econometric techniques, the IS-LM model, the labor market, new Keynesian macroeconomics, and the use of macroeconomics in official documents.

Macroeconomics and the Real World

Volume 2: Keynesian Economics, Unemployment, and Policy

Edited by Roger E. Backhouse and Andrea Salanti

1 Introduction to volume II
The IS-LM model
2 The evolution of IS-LM models: empirical evidence and theoretical presuppositions, Alessandro Vercelli
3 Whither ISLM?, Christopher Sims
4(a) ISLM, Keynesianism and the new classicism, Richard G. Lipsey
4(b) ISLM: general discussion
The labour market
5 Wage dynamics and the Phillips curve, Piero Ferri
6 What can recent labour research teach us about macroeconomics?, Andrew J. Oswald and Philip A. Trostel
7(a) Theory, evidence and the labour market, Roger E. Backhouse
7(b) Labour: general discussion
New Keynesian economics
8 Imperfect capital markets: a new paradigm?, Domenico Delli Gatti and Roberto Tamborini
9 New Keynesian macroeconomics: the role of theory and evidence, Huw D. Dixon
10(a) Equity finance or internal funds?, Mark Blaug
10(b) New Keynesian economics: general discussion
11 Using government documents to assess the influence of academic research on macroeconomic policy, Thomas Mayer
Macroeconomics in official documents
12 Macroeconomic thought at the European Commission in the first half of the 1980s, Ivo Maes
13(a) In defence of two policy platitudes, Daniel M. Hausman
13(b) Official documents: general discussion