Seven Schools of Macroeconomic Thought

Paperback | November 28, 2015

byEdmund Phelps

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This book offers an excellent survey of various macroeconomic topics that feature prominently in the research agenda and have inspired both theoretical and policy debate. The book presents an authoritative and comprehensive summary and original critique of macroeconomic approaches by a scholarwhose own contribution to the field is considerable.In each of his seven chapters, the author reviews one school of economic thought. These are: the Keynesian school of macroeconomics; the monetarist school; the New Classical school; the New-Keynesian school; supply side macroeconomics, and "non-monetary" models of macroeconomics - the real businesscycle theory and the `structuralist school' which views changes in unemployment as the outcome of shifts in the structural characteristics of the economy.

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This book offers an excellent survey of various macroeconomic topics that feature prominently in the research agenda and have inspired both theoretical and policy debate. The book presents an authoritative and comprehensive summary and original critique of macroeconomic approaches by a scholarwhose own contribution to the field is cons...

Edmund Phelps is McVickar Professor of Political Economy at Columbia University and Director of Columbia's Center on Capitalism and Society. He was the winner of the 2006 Nobel Prize in Economics. He holds many honorary doctorates and professorships, including from the Universite libre de Bruxelles, Tsinghua University, and the Institu...

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Format:PaperbackDimensions:128 pages, 8.5 × 5.43 × 0.39 inPublished:November 28, 2015Publisher:Oxford University PressLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0198743904

ISBN - 13:9780198743903

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Table of Contents

1. The Macroneconomics of Keynes2. The Monetarist Tradition3. The New Classical School4. The New Keynesian School5. Supply-side Macroeconomics6. Neclassical and Neo-Neoclassical Real Business Cycle Theory7. Non-Monetary Theories of Unemployent Fluctuation: The Structuralist School

Editorial Reviews

"In most cases it is stimulating, if not instructive, to see well-known theories discussed from another perspective and in this respect the present book is no exception." --Journal of Institutional and Theoretical Economics