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A Macroeconomics Reader

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A Macroeconomics Reader A Macroeconomics Reader Edited by Brian Snowdon and Howard R. Vane London and New York Contents Preface xi 1 The development of modern macroeconomics: a rough guide Brian Snowdon and Howard R. Vane 1 Part I Keynesian economics and the Keynesian revolution 27 Introduction 29 2 Keynesian economics: the search for first principles Alan Coddington Journal of Economic Literature (1976) 14, December, pp. 1258-73 36 3 On different interpretations of the General Theory Don Patinkin Journal of Monetary Economics (1990) 26, October, pp. 205-43 55 4 Keynes's General Theory: interpreting the interpretations Bill Gerrard Economic Journal (1991) 101, March, pp. 276-87 95 5 The fall and rise of Keynesian economics Alan S. Blinder Economic Record (1988) December, pp. 278-94 109 6 Price flexibility and output stability: an old Keynesian view James Tobin Journal of Economic Perspectives (1993) 7, Winter, pp. 45-65 135 Part II The monetarist counter-revolution 157 Introduction 159 7 The role of monetary policy Milton Friedman American Economic Review (1968) 58, March, pp. 1-17 164 viii Contents 8 The structure of monetarism Thomas Mayer Kredit und Kapital (1975) 8, pp. 191-215, 292-313 180 9 Monetarism: an interpretation and an assessment David Laidler Economic Journal (1981) 91, March, pp. 1-28 216 10 The monetarist controversy revisited Franco Modigliani Contemporary Policy Issues (1988) 6, October, pp. 3-18 247 Part III The challenge of rational expectations and new classical macroeconomics 263 Introduction 265 11 After Keynesian macroeconomics Robert E. Lucas and Thomas J. Sargent After the Phillips Curve: Persistence of High Inflation and High Unemployment (1978) Boston, MA: Federal Reserve Bank of Boston, pp. 49-72 270 12 A child's guide to rational expectations Rodney Maddock and Michael Carter Journal of Economic Literature (1982) 20, March, pp. 39-51 295 13 The Ricardian approach to budget deficits Robert J. Barro Journal of Economic Perspectives (1989) 3, Spring, pp. 37-54 314 14 The new-classical contribution to macroeconomics David Laidler Banca Nazionale Del Lavoro Quarterly Review (1986) March, p. 27-55 334 Part IV The real business cycle approach to economic fluctuations 359 Introduction 361 15 Theory ahead of business cycle measurement Edward C. Prescott Federal Reserve Bank of Minneapolis Quarterly Review (1986) Fall, pp. 9-22 366 Contents ix 16 Some skeptical observations on real business cycle theory Lawrence H. Summers Federal Reserve Bank of Minneapolis Quarterly Review (1986) Fall, pp. 23-7 389 17 Understanding real business cycles Charles I. Plosser Journal of Economic Perspectives (1989) 3, Summer, pp. 51-77 396 18 Real business cycles: a new Keynesian perspective N. Gregory Mankiw Journal of Economic Perspectives (1989) 3, Summer, pp. 79-90 425 Part V New Keynesian economics 437 Introduction 439 19 The reincarnation of Keynesian economics N. Gregory Mankiw European Economic Review (1992) 36, April, pp. 559-65 445 20 New-Keynesian economics today: the empire strikes back Brian Snowdon and Howard Vane American Economist (1995) 39, Spring, pp. 48-65 452 21 What is new-Keynesian economics? Robert J. Gordon Journal of Economic Literature (1990) 28, September, pp. 1115-71 478 22 New and old Keynesians Bruce Greenwald and Joseph Stiglitz Journal of Economic Perspectives (1993) 7, Winter, pp. 23-44 552 Part VI The renaissance of economic growth analysis 575 Introduction 577 23 Catching up, forging ahead, and falling behind Moses Abramovitz Journal of Economic History (1986) 46, June, pp. 385^06 582 24 Technological catch up and diverging incomes: patterns of economic growth 1960-88 Steve Dowrick Economic Journal (1992) 102, May, pp. 600-10 604 x Contents 25 Policy implications of endogenous growth theory G. K. Shaw Economic Journal (1992) 102, May, pp. 611-21 616 26 The origins of endogenous growth Paul M. Romer Journal of Economic Perspectives (1994) 8, Winter, pp. 3-22 628 27 Perspectives on growth theory Robert M. Solow Journal of Economic Perspectives (1994) 8, Winter, pp. 45-54 649 Index 660.
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