Reflections on the Development of Modern Macroeconomics

Macroeconomic analysis has undergone profound and controversial changes during the past twenty-five years and, as such, economists have developed and evolved their approaches to the discipline. Reflections on the Development of Modern Macroeconomics presents a collection of eight original essays, from leading scholars, each of which focuses on an important issue relating to these developments.These accessible, reflective surveys include: to stabilize or not to stabilize: is that the question? Brian Snowdon and Howard Vanethe rhetoric and methodology of modern macroeconomics Roger Backhousehow relevant is Keynesian economics today? Keith Shawwhat remains of the monetarist counter-revolution? Thomas Mayermacroeconomics: before and after rational expectations Patrick Minfordthe ups and downs of modern business cycle theory Cillian Ryan and Andrew Mullineuxthe role of imperfect competition in new Keynesian economics Huw Dixonpolitics and the macroeconomy: endogenous politicians and aggregate instability Brian Snowdon and Howard VaneThis book will attract a wide readership among intermediate undergraduates, as well as postgraduates and lecturers in the fields of macroeconomics and the history of economic thought.