2000
DOI: 10.1093/oxrep/16.4.33
View full text
|
|

Abstract: Simple macroeconomic models based on IS-LM have become unfashionable because of their lack of microfoundations, and are in danger of being effectively forgotten by the profession. Yet while thinking about micro-foundations is a productive enterprise, complex models based on such foundations are not necessarily more accurate than simple, ad-hoc models. Three decades of attempts to base aggregate supply on rational behaviour have not displaced the Phillips curve; inter-temporal models of consumption do not offer… Show more

Help me understand this page

Search citation statements

Order By: Relevance

Paper Sections

0
0
0
0
0

Citation Types

1
33
0
3

Publication Types

Select...

Relationship

0
0

Authors

Journals