Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/144399
Authors: 
De Vroey, Michel
Year of Publication: 
2010
Series/Report no.: 
Working Paper Research 187
Abstract: 
The aim of this paper is to recount the ebbs and flows of Keynesianism over the history of macroeconomics. The bulk of the paper consists of a discussion of the main episodes of the unfolding of macroeconomics (Keynesian macroeconomics, monetarism, new classical macroeconomics, real business cycle models and new neoclassical synthesis models) against the background of a distinction between Keynesianism as a ‘moderately conservative’ (Keynes’s words) vision about the working of the market system and as a conceptual apparatus. Particular attention is given to the contrast between Keynesian and Lucasian macroeconomics. The paper ends with a few remarks about the impact of the present crisis on the development of macroeconomic theory
Subjects: 
Keynes
Lucas
history of macroeconomics
JEL: 
B22
Document Type: 
Working Paper

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