10) The theoretic framework of mainstream macroeconomic theory
takes into account "one labor market", i.
The second thing to note from Figure 2 is that the positive money-multiplier shock--which means an unexpected increase in inside money--also leads to responses consistent with standard macroeconomic theory
This section aims to show that such claims contradict basic macroeconomic theory
, while the next asks why they are nevertheless made.
The aim of a decade-long development of the macroeconomic theory
based on macroeconomic bases and economic policies has been the macroeconomic stability--price stability, and it depends on rational expectations of economic actors as well as on the influence exerted by the economic policy on the real economic activity which is not possible either in long-term or in short-term period.
My book, Say's Law and the Keynesian Revolution, which covers in far more detail all that has been discussed in this paper, has as its subtitle, How Macroeconomic Theory
Lost Its Way.
The findings indicate that completion of the one-semester principles course (ECON 200) slightly lowers student performance in intermediate micro and macroeconomic theory
The intellectual job now is to incorporate the idea of animal spirits back into macroeconomic theory
in the way that Keynes advocated.
For those who may express reservations about the rise in subsidies increasing indebtedness, the Punjab Finance Minister revealed that dependence on international loans will be minimized to 23 billion rupees and Punjab would try to finance development expenditure from its own resources - again a worthy goal rooted in sound macroeconomic theory
The depoliticization of monetary policy decisions probably reflects, among other factors, both the post-1970s new-Keynesian consensus in macroeconomic theory
and the realization of political independence of the Federal Reserve System during the Volcker-Greenspan years.
The fixtures of the macroeconomics conference circuit all started later: the Carnegie-Rochester series in 1973; the National Bureau of Economic Research's economic fluctuations program and its International Seminar on Macroeconomics and Summer Institute in 1978; the NBER Macroeconomics Annual in 1986 (a self-conscious copy of the Brookings Papers, I can say from firsthand knowledge); and the Minnesota Workshop in Macroeconomic Theory
The originality of this study may not be immediately apparent to historians, unless they have a decided taste for macroeconomic theory
This is the most recent incarnation of Sargent's (1987) Dynamic Macroeconomic Theory
text which revolutionized the curriculum of macroeconomic coursework, at the graduate level, by placing DSGM firmly at its core.