Mainstream macroeconomic theory
has absolutely no room for any concept of "escape velocity".
The Global Financial Crisis and the abject failure of the stimulus have unsettled macroeconomic theory
does not have a magic formula in this respect.
Figure 2 shows that across all monetary shocks the economic variables respond in a manner consistent with macroeconomic theory
These two articles provide us with a view of how the mathematical formalist of Foundations (Samuelson 1947) handled macroeconomic theory
when most people writing in macroeconomics did so with more words than mathematical symbols, more diagrams than theorems and proofs.
clearly suggests that at the zero lower bound, fiscal contraction will reduce output and slow any recovery.
Modern macroeconomic theory
, in particular, has been criticized for its representation of the economy through highly stylized environments that abstract from distributional issues, ignore or minimize linkages between the financial and nonfinancial sectors of the economy, and, in general, rely too much on highly aggregative frameworks.
Monetary economics, financial economics, macroeconomic theory
and mathematical economics are his research and teaching areas.
But Paul also plans to be an educator in his new role, holding committee hearings on monetary and macroeconomic theory
that will introduce more Americans to Austrian Business Cycle theory.
As a student of distinguished economists in the "Austrian" tradition, as well as fellow travelers like James Buchanan, I have long harbored reservations about some schools of macroeconomic theory
The rogue exam in Macroeconomic Theory
was due to be sat by just one student re-sitting the module from the previous year.
Information and Coordination: Essays in Macroeconomic Theory