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 Vane
• the rhetoric and methodology of modern macroeconomics Roger Backhouse
• how relevant is Keynesian economics today? Keith Shaw
• what remains of the monetarist counter-revolution? Thomas Mayer
• macroeconomics: before and after rational expectations Patrick Minford
• the ups and downs of modern business cycle theory Cillian Ryan and Andrew Mullineux
• the role of imperfect competition in new Keynesian economics Huw Dixon
• politics and the macroeconomy: endogenous politicians and aggregate instability Brian Snowdon and Howard Vane

This 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.

Edited by Brian Snowdon, Senior Teaching Fellow, Department of Economics and Finance, Durham University, UK and Howard R. Vane, Emeritus Professor of Economics, Liverpool Business School, Liverpool John Moores University, UK