Macroeconomics and the Real World: Volume 2: Keynesian Economics, Unemployment, and Policy…

Paperback | November 1, 2000

EditorRoger E. Backhouse, Andrea Salanti

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Since the middle of twentieth century, economists have invested great resources into using statistical evidence to relate macroeconomic theories to the real world, and many new econometric techniques have been employed. In these two volumes, a distinguished group of economic theorists,econometricians, and economic methodologists examine how evidence has been used and how it should be used to understand the real world.Volume 1 focuses on the contribution of econometric techniques to understanding the macroeconomic world. It covers the use of evidence to understand the business cycle, the operation of monetary policy, and economic growth. A further section offers assessments of the overall impact of recenteconometric techniques such as cointegration and unit roots.Volume 2 focuses on the labour market and economic policy, with sections covering the IS-LM model, the labour market, new Keynesian macroeconomics, and the use of macroeconomics in official documents (in both the USA and EU).These volumes will be valuable to advanced undergraduates, graduate students, and practitioners for their clear presentation of opposing perspectives on macroeconomics and how evidence should be used. The chapters are complemented by discussion sections revealing the perspectives of othercontributors on the methodological issues raised.

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Since the middle of twentieth century, economists have invested great resources into using statistical evidence to relate macroeconomic theories to the real world, and many new econometric techniques have been employed. In these two volumes, a distinguished group of economic theorists,econometricians, and economic methodologists examin...

Roger E. Backhouse is at University of Birmingham. Andrea Salanti is at University of Bergamo.

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Format:PaperbackPublished:November 1, 2000Publisher:Oxford University PressLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0199242054

ISBN - 13:9780199242054

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Table of Contents

1. Introduction to volume IIThe IS-LM model2. Alessandro Vercelli: The evolution of IS-LM models: empirical evidence and theoretical presuppositions3. Christopher Sims: Wither IS-LM?4(a). Richard G. Lipsey: IS-LM, Keynesianism and the new classicism4(b). IS-LM: general discussionThe labour market5. Piero Ferri: Wage dynamics and the Phillips curve6. Andrew J. Oswald and Philip A. Trostel: What can recent labour research teach us about macroeconomics?7(a). Roger E. Backhouse: Theory, evidence and the labour market7(b). Labour: general discussionNew Keynesian economics8. Demenico Delli Gatti and Roberto Tamborini: Imperfect capital markets: a new paradigm?9. Huw D. Dixon: New Keynesian macroeconomics: the role of theory and evidence10(a). Mark Blaug: Equity finance or internal funds?10(b). New Keynesian economics: general discussionMacroeconomics in official documents11. Thomas Meyer: Using government documents to assess the influence of academic research on macroeconomic theory12. Ivo Maes: Macroeconomic thought at the European Commission in the first half of the 1980s13(a). Daniel M. Hausman: In defense of two policy platitudes13(b). Official documents: general discussion