Methodological Foundations Of Macroeconomics

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Methodological Foundations of Macroeconomics

Alessandro Vercelli
Methodological Foundations of Macroeconomics Book PDF

Author : Alessandro Vercelli
Publisher : Cambridge University Press
Page : 292 pages
File Size : 55,9 Mb
Release : 1991-09-26
Category : Biography & Autobiography
ISBN : 0521392942

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Methodological Foundations of Macroeconomics by Alessandro Vercelli Pdf

This book is an investigation of the methodological and epistemological foundations of macroeconomic theory, based on an examination of the theories of Keynes and Lucas. It is divided into two parts. In the first Professor Vercelli discusses the methodological issues which lie behind the conflict among different schools of thought in macroeconomics (equilibrium and disequilibrium, risk and uncertainty, rationality and causality). These issues are central to the current debate not only in many branches of economics, but also in other scientific disciplines. The traditional point of view of science based on equilibrium, stability and determinism has been increasingly challenged by a new point of view in which disequilibrium, instability and uncertainty play a crucial role. This, the author argues, is bound to put macroeconomics in a new, more promising position. In the second part of the book the author compares the two main alternative research programmes in macroeconomics: that outlined by Keynes in his 'General Theory', and that suggested by Lucas, the leader of the new classical economists.

Macroeconomic Methodology

Jesper Jespersen
Macroeconomic Methodology Book PDF

Author : Jesper Jespersen
Publisher : Edward Elgar Publishing
Page : 273 pages
File Size : 41,8 Mb
Release : 2011-01-01
Category : Business & Economics
ISBN : 9781849802123

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Macroeconomic Methodology by Jesper Jespersen Pdf

Methodological practice is at the heart of divisions between schools of macroeconomic thought. Jesper Jespersen s book explains why and precisely how, and gives the reader the insight to choose between rival approaches. His own inspiration comes from Critical Realism and Popper s Three World analysis, with Keynes as the main exponent of a realist approach. The starting point of realist theory is a view of how the world is, rather than axioms, and the test is whether the theory can make, as Jespersen puts it, the round trip back to reality , to give practical guidance to policy. This is only the focal point of a rich and attractive canvas. How I wish this book had been available when I taught methodology! And how I wish economists from all schools of thought would read it! Victoria Chick, University College London, UK This welcome volume by Jesper Jespersen offers an up-to-date realist approach to macroeconomics, drawing on recent developments in methodology, notably critical realism, as well as earlier Popperian ideas. He shows how economics in the Post-Keynesian tradition, using this approach, can address the important macro policy issues, and sets out a seven-point agenda for future theory development. This book provides an important launching-off point for addressing macroeconomic questions without the need for the abstractions as narrowly rational representative agents. Rather Jespersen explores the interdependencies between the macro and micro levels in real economic processes under conditions of uncertain knowledge. Sheila Dow, University of Stirling, UK Jesper Jespersen presents a treatise on the importance of the choice of methodology within macroeconomics. Given that no scientifically based macroeconomic policy recommendation should be established without an evaluation of the methods employed, this book gives a clear exposition of how proper macroeconomic analysis should be undertaken. Furthermore, it is convincingly argued that one of the lasting contributions of John Maynard Keynes was his emphasis on methodology; that macroeconomic consequences of uncertainty could not be analysed within the established general equilibrium framework. It is due to post-Keynesian economics supported by critical realism that the understanding of Keynes s methodology has been resurrected, which has eventually resulted in renewed debate on realistic macroeconomic policies to restore full employment without inflation. Macroeconomic Methodology is an inquiry into the question of how to conduct a proper scientific analysis of uncertainty within macroeconomics. It will be of great interest to scholars of the philosophy of social sciences and methodology, as well as post-Keynesian and heterodox economists.

The Methodology of Macroeconomic Thought

Sheila C. Dow
The Methodology of Macroeconomic Thought Book PDF

Author : Sheila C. Dow
Publisher : Edward Elgar Publishing
Page : 280 pages
File Size : 52,6 Mb
Release : 1996
Category : Business & Economics
ISBN : STANFORD:36105018453899

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The Methodology of Macroeconomic Thought by Sheila C. Dow Pdf

Examines how the methodologies are founded in the theories of Neo-Austrian, mainstream, Post Keynesian, and Marxian economic traditions. Also describes the microeconomic foundations of their macroeconomics and their various approaches to such concepts as equilibrium, expectations, money, and macroeconomic policy. Revised from the 1985 Macroeconomic Thought: A Methodological Approach to incorporate new developments in the field. Annotation copyright by Book News, Inc., Portland, OR

The Nature of Macroeconomics

Athol Fitzgibbons
The Nature of Macroeconomics Book PDF

Author : Athol Fitzgibbons
Publisher : Edward Elgar Publishing
Page : 183 pages
File Size : 40,9 Mb
Release : 2002-01-01
Category : Business & Economics
ISBN : 9781843765332

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The Nature of Macroeconomics by Athol Fitzgibbons Pdf

The Nature of Macroeconomics is a short but adventurous book that punches well above its weight . . . As part of a growing literature that identifies methodological issues as central to any appreciation of macroeconomic debate, and which seeks to under-labor for a more relevant useful indeed, more scientific macroeconomics, Fitzgibbons book is to be warmly welcomed. Mark Setterfield, Review of Social Economy Fitzgibbons examines the foundations of macroeconomic theory and policy and develops an insightful discussion of important issues, especially the state of knowledge of both market participants and policymakers . . . The Nature of Macroeconomics is clearly a book that contributes to the growth of our own partial knowledge. David Dequech, Review of Political Economy Athol Fitzgibbons s book distils the main lesson of the debates on Keynes over the last 25 years: that macroeconomics has to be based on a theory of knowledge consistent with the way life is lived, where decisions are made in the face of imperfect knowledge. All existing theory (including, he argues, the General Theory) assumes either perfect knowledge or complete ignorance. He shows us why this has happened, and suggests a way out. It is a brave, knowledgeable and important book. Victoria Chick, University College London, UK A well-written, well-argued discussion of the foundations of macro. If you are unfamiliar with the arguments that macro is not, and cannot be, a traditional science, then this book is definitely worth reading. David Colander, Middlebury College, Vermont, US This book addresses the long absence of a satisfactory theory of macroeconomics. Keynesian theory is not consistent with rational self-interest, but neo-classical economics is unable to explain economic volatility and the trade cycle. Athol Fitzgibbons critiques the leading macroeconomic theories, which he believes are unduly mechanistic because they are incompatible with non-quantitative knowledge. The author sketches the intellectual history of partial knowledge and judgement so far as these relate to macroeconomics, and rejects the claims that Keynes recanted the analysis of practical reason in his Treatise on Probability. Fitzgibbons s theme is the possibility of a new synthesis of Keynes and the neoclassical system. This stresses financial rationality, but it also recognizes that there is an element of indeterminacy in both government policies and the movements of the market.

The Microfoundations Delusion

John Edward King
The Microfoundations Delusion Book PDF

Author : John Edward King
Publisher : Edward Elgar Publishing
Page : 301 pages
File Size : 45,7 Mb
Release : 2012-01-01
Category : Business & Economics
ISBN : 9781781009123

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The Microfoundations Delusion by John Edward King Pdf

ïThis excellent book documents the creation of what has become the first commandment of orthodox macroeconomics: that microeconomic theory provides its foundation because this is the most secure form of economic knowledge. By contrast, John King shows conclusively that microeconomics cannot play such a role when assessed by the criteria of logic, or of science, or of economics itself. Indeed, he goes further and demonstrates that the microfoundations dogma detracts from knowledge about how economies actually operate, and instead generates patently false conclusions. Moreover, the dogma is shown to have blinded orthodox economists from even seeing the possibility of typical macroeconomic crises, and has disarmed them in formulating policies that would eliminate actual crises. The book therefore deals with a topic at the very heart of the present debacle in the world economy.Í _ Michael Howard, University of Waterloo, Canada ïA generation ago Dudley Dillard wrote a famous article on the ñbarter illusion in classical and neoclassical economicsî. Now John King has gone a step further and written about the microfoundations delusion. The illusion has been with us for a very long time, the delusion is of more recent vintage. Together they have blocked a basic understanding of macroeconomic and monetary phenomena at a time when they are most urgently needed. This is a book that had to be written, and we are fortunate that it is John King who has written it. Essential reading for our times.Í _ John Smithin, York University, Canada In this challenging book, John King makes a sustained and comprehensive attack on the dogma that macroeconomic theory must have ïrigorous microfoundationsÍ. He draws on both the philosophy of science and the history of economic thought to demonstrate the dangers of foundational metaphors and the defects of micro-reduction as a methodological principle. Strong criticism of the microfoundations dogma is documented in great detail, from some mainstream and many heterodox economists and also from economic methodologists, social theorists and evolutionary biologists. The author argues for the relative autonomy of macroeconomics as a distinct ïspecial scienceÍ, cooperating with but most definitely not reducible to microeconomics. The Microfoundations Delusion will prove a stimulating and thought-provoking read for scholars, students and researchers in the fields of economics, heterodox economics and history of economic thought.

Routledge Handbook of Macroeconomic Methodology

Jesper Jespersen,Victoria Chick,Bert Tieben
Routledge Handbook of Macroeconomic Methodology Book PDF

Author : Jesper Jespersen,Victoria Chick,Bert Tieben
Publisher : Taylor & Francis
Page : 381 pages
File Size : 49,9 Mb
Release : 2023-06-20
Category : Business & Economics
ISBN : 9781317597001

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Routledge Handbook of Macroeconomic Methodology by Jesper Jespersen,Victoria Chick,Bert Tieben Pdf

Draws together the various strands and schools of thought to provide a unique overview of the methods employed in the research and study of macroeconomics. Demonstrates the relevance and vitality of macroeconomics beyond the idea of microeconomic foundations.

Macroeconomic Foundations of Macroeconomics

Alvaro Cencini
Macroeconomic Foundations of Macroeconomics Book PDF

Author : Alvaro Cencini
Publisher : Psychology Press
Page : 384 pages
File Size : 43,9 Mb
Release : 2005
Category : Macroeconomics
ISBN : 0415312655

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Macroeconomic Foundations of Macroeconomics by Alvaro Cencini Pdf

This book shows that macroeconomics is logically independent of microeconomics and that it is fundamental to economic analysis and lends further support to the claim for the macroeconomic foundations of macroeconomics.

Methodology for a New Microeconomics (Routledge Revivals)

Lawrence A. Boland
Methodology for a New Microeconomics Routledge Revivals Book PDF

Author : Lawrence A. Boland
Publisher : Routledge
Page : 202 pages
File Size : 54,7 Mb
Release : 2014-06-03
Category : Business & Economics
ISBN : 9781317680901

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Methodology for a New Microeconomics (Routledge Revivals) by Lawrence A. Boland Pdf

First published in 1986, this title argues that the successful development of a new microeconomics requires a deeper understanding of methodological individualism and its role in stability analysis. Lawrence Boland expounds a critique of neoclassical models, which, he contends, often fail to include an explicit stability analysis. He demonstrates that much of the sophisticated theoretical literature over the past thirty years can be understood as ad hoc attempts to overcome the deficiencies of such models in the absence of cogent stability analyses. In conclusion, he explains the need to update the theory taught at universities, and to develop a truly individualist version of microeconomics that is consistent with the methodological principles of major neoclassical models. An important contribution to economic methodology, this work is a highly valuable resource for all students and teachers of economics at the undergraduate level.

Post-Keynesian Economics

Marc Lavoie
Post Keynesian Economics Book PDF

Author : Marc Lavoie
Publisher : Edward Elgar Publishing
Page : 680 pages
File Size : 45,9 Mb
Release : 2022-05-28
Category : Electronic
ISBN : 1839109610

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Post-Keynesian Economics by Marc Lavoie Pdf

Students in economics are ever more distressed by the disconnect between mainstream economics and the real world. This book shows how post-Keynesian economics constitutes a coherent heterodox alternative, based on realistic assumptions and the integration of the financial and real sides of the economy, with an emphasis on the many paradoxes that arise in a truly macroeconomic analysis. The book is a considerably revised and updated version of the widely used and frequently cited 2014 edition, which won the EAEPE Myrdal Prize (now the Joan Robinson Prize). It provides an exhaustive account of post-Keynesian theory and policy. Topics covered include its methodological foundations, consumer theory and choice under fundamental uncertainty, firms and pricing, money and credit, effective demand and employment, growth theory, open-economy issues, inflation theory. It also links up with ecological economics. Scholars of economics, particularly post-Keynesian and heterodox economists, will find this comprehensive look at the field a necessary addition to their libraries and students and instructors will find it a perfect text for any class on post-Keynesian economics.

Microfoundations

Maarten Janssen
Microfoundations Book PDF

Author : Maarten Janssen
Publisher : Routledge
Page : 209 pages
File Size : 42,6 Mb
Release : 2005-07-26
Category : Business & Economics
ISBN : 9781134884131

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Microfoundations by Maarten Janssen Pdf

All economists are familiar with the division of the subject into microeconomics and macroeconomics. However, few economists are able to give an accurate account of what distinguishes micro and macro. The increasing interest in the `microfoundations of macroeconomics' has typically attracted those who feel that economics is about the rational behaviour of individuals and who regard macro propositions as a consequence of the intentions of individuals. As a result, `microfoundations' have come to be synonymous with theories of individual behaviour. However, Maarten Janssen argues that it is microeconomics' concern with the functioning of markets that underlies theories of microfoundations. This claim is substantiated by an analysis of the aggregation problem, of the foundations of equilibrium theories, of the rational expectations hypothesis, and of a model from the New Keynesian literature.

Foundations of Economic Method

Lawrence A. Boland
Foundations of Economic Method Book PDF

Author : Lawrence A. Boland
Publisher : Routledge
Page : 375 pages
File Size : 46,7 Mb
Release : 2020-09-23
Category : Business & Economics
ISBN : 9781000159332

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Foundations of Economic Method by Lawrence A. Boland Pdf

Many consider Foundations of Economic Method to be Lawrence Boland's best work. This updated edition is radically changed from the original and will be much appreciated by thinkers within economics. The book positions methodology vis-à-vis the current practice of economists and is all the better for it. Yet another book that not only deserves to be read by those within the field of economic methodology, but also by those involved in economics at all. Boland is back.

Macroeconomic Foundations of Macroeconomics

Alvaro Cencini
Macroeconomic Foundations of Macroeconomics Book PDF

Author : Alvaro Cencini
Publisher : Routledge
Page : 368 pages
File Size : 40,6 Mb
Release : 2012-10-12
Category : Business & Economics
ISBN : 9781134382248

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Macroeconomic Foundations of Macroeconomics by Alvaro Cencini Pdf

Contrary to common belief, macroeconomics is not merely a theory of aggregates, and cannot be constructed from individual behaviour. Both nationally and internationally, there are economic laws that are logically independent of economic agents’ behaviour. These are the macroeconomic foundations of macroeconomics. Presenting cutting-edge material, Alvaro Cencini explores these foundations, and shows that the introduction of money entails economics being interpreted conceptually not mathematically. His innovative book provides the elements for a new approach by applying the most recent results of monetary analysis to the study of national and international economics. It covers recent progress in monetary theory, provides the reader with a greater understanding of the subject, and will be essential reading for economic students as well as a valuable resource for economists.

Foundations of Economic Method

Lawrence Boland
Foundations of Economic Method Book PDF

Author : Lawrence Boland
Publisher : Routledge
Page : 360 pages
File Size : 47,7 Mb
Release : 2003-12-08
Category : Business & Economics
ISBN : 9781134498086

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Foundations of Economic Method by Lawrence Boland Pdf

Many consider Foundations of Economic Method to be Lawrence Boland's best work. This updated edition is radically changed from the original and will be much appreciated by thinkers within economics. The book positions methodology vis-à-vis the current practice of economists and is all the better for it. Yet another book that not only deserves to be read by those within the field of economic methodology, but also by those involved in economics at all. Boland is back.

The Methodology of Empirical Macroeconomics

Kevin D. Hoover
The Methodology of Empirical Macroeconomics Book PDF

Author : Kevin D. Hoover
Publisher : Cambridge University Press
Page : 204 pages
File Size : 54,7 Mb
Release : 2001-10-11
Category : Business & Economics
ISBN : 0521003210

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The Methodology of Empirical Macroeconomics by Kevin D. Hoover Pdf

The Methodology of Empirical Macroeconomics stakes out a pragmatic middle-ground between traditional, prescriptive economic methodology and recent descriptive (sociological or rhetorical) methodology. The former is sometimes seen as arrogantly telling economists how to do their work and the latter as irrelevant to their practice. The lectures are built around a case study of a concrete example of macroeconomic analysis. They demonstrate that economic methodology and the philosophy of science offer insights that help to resolve the genuine concerns of macroeconomists. Some examples of questions addressed include: What is the relationship between theoretical models and empirical observations? What is the relevance of macroeconomics to policy? Should macroeconomics be viewed as a special case of microeconomics? What is the place of long-standing philosophical issues in macroeconomics, such as the scope and nature of economic laws, the role of idealizations, methodological individualism, and the problem of causality?

The Foundations of Positive and Normative Economics

Andrew Caplin,Andrew Schotter
The Foundations of Positive and Normative Economics Book PDF

Author : Andrew Caplin,Andrew Schotter
Publisher : Oxford University Press
Page : 416 pages
File Size : 51,6 Mb
Release : 2010-06-25
Category : Social Science
ISBN : 0199890110

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The Foundations of Positive and Normative Economics by Andrew Caplin,Andrew Schotter Pdf

The Foundations of Positive and Normative Economics: A Handbook is the first book in a new series by Andrew Caplin and Andrew Schotter. There is currently no guide available on the rapidly changing methodological frontiers of the field of economics. Economists have been introducing new theories and new sources of data at a remarkable rate in recent years, and there are widely divergent views both on how productive these expansions have been in the past, and how best to make progress in the future. The speed of these changes has left economists ill at ease, and has created a backlash against new methods. The series will debate these critical issues, allowing proponents of a particular research method to present proposals in a safe yet critical context, with alternatives being clarified. This first volume, written by some of the most prominent researchers in the discipline, reflects the challenges that are opened by new research opportunities. The goal of the current volume and the series it presages, is to formally open a dialog on methodology. The editors' conviction is that such a debate will rebound to the benefit of social science in general, and economics in particular. The issues under discussion strike to the very heart of the social scientific enterprise. This work is of tremendous importance to all who are interested in the contributions that academic research can make not only to our scientific understanding, but also to matters of policy.