Macroeconomics : Schools of Thought
 
 

General reading:

Chrystal And Price (199?) "Controversies in Economics",

Arestis P (1992) The Post Keynesian Approach to Economics, Edward Elgar

Sawyer M (1984) "Macroeconomics in Question", Wheatsheaf.

Sawyer JA (1989) "Macroeconomic Theory", Harvester Wheatsheaf. -provides good overview of the models implied by the different macroeconomic schools of thought.

Leslie D (1993) "Advanced Macroeconomics", McGraw-Hill -provides advanced coverage of New Classical and New Keynesian developments.

Lavoie M (1992) "Foundations of Post Keynesian Economic Analysis", Edward Elgar. Background:

Hillier B (1991)"The Macroeconomic Debate", Blackwell.

Eatwell J, Milgate M and Newman P (eds) "The New Palgrave: A Dictionary of Economics" -Very useful reference work

Arestis P and Sawyer M (eds) (1994) "The Elgar Companion to Radical Political Economy", Edward Elgar.

1. Introduction to Schools of Thought in Macroeconomics:

Pheby J (1988) "Methodology and Economics", Macmillan

Bleaney and Greenaway (1989) "Recent developments in macroeconomics", Chapter 1 in Greenaway (1989) (ed) "Current Issues in Macroeconomics".

Hahn F (1982) "On the Notion of Equilibrium in Economics", Chapter in Hahn F (1982) "Money and Inflation",

Kaldor N (1972) "The Irrelevance of Equilibrium in Economics", Economic Journal, Vol 82, pp 1237-1255.

Sawyer M (1982) "Macreconomics in Question", Wheatsheaf. Ch 1. Croom Helm.

Vercelli A and Dimitri N (1992) " Macroeconomics: A Survey of Research Strategies", Oxford University Press.
 
 

2. The Grand Neoclassical Synthesis: A Critical Appraisal

Arestis P (1992) The Post Keynesian Approach to Economics, Edward Elgar Ch 1,2

Bleaney and Greenaway (1989) "Recent developments in macroeconomics", Chapter 1 inGreenaway (1989) (ed) "Current Issues in Macroeconomics",

Sawyer M (1984) "Macreconomics in Question", Wheatsheaf. Ch 1-3

Pilling G (1986) "The Crisis of Keynesian Economics: A Marxist View", Croom Helm.

Sawyer M (1991) Post-Keynesian Macroeconomics, Chapter 11 in Greenaway (ed) "Companion to Contemporary Economic Thought", Routledge.

Vircelli A and Dimitri N (eds) (1992) "Macroeconomics", Oxford University Press.

Wallis K (ed)"Models of the UK Economy", Macmillan. Vols 1-4
 
 

3. New Classical and New-Keynesian Economics

Bleaney and Greenaway (1989) "Recent developments in macroeconomics", Chapter 1 in Greenaway (1989) (ed) "Current Issues in Macroeconomics",

Weale et al (1989) "Macroeconomic Policy", Unwin Hyman. Ch 1.

Fischer S (1988) "Recent Developments in Macroeconomics", Economic Journal, 98, June,pp294-339.

Vircelli and Dimitri (1992) op cit

Lucas and Sargent (1981) "Rational Expectations and Econometric Practice", George Allen and Unwin. Esp Ch 1,16

Garrett JR (1987) "Macroeconomic Policy and History" Review article on Sargent TJ "RationalExpectations and Inflation". Cambridge Journal of Economics, 11, pp 375-392.

Blinder (1987) Credit rationing , Economic JournalJ 97 pp327-52

Greenwald and Stiglitz(1987) Keynesian, New Keynesian and New Classical, OEP, 39, pp119-32

Sawyer M (1989) "The Challenge of Radical Political Economy", Harvester Wheatsheaf. Chapter 8 on the measurement of capital and reswitching.

4. Post Keynesian Economics

Arestis P (1992) The Post Keynesian Approach to Economics, Edward Elgar

Sawyer M (1991) Post-Keynesian Macroeconomics, Chapter 11 in Greenaway (ed) "Companion to Contemporary Economic Thought", Routledge.

Sawyer M (1984) "Macreconomics in Question", Wheatsheaf. Ch 1-3

Lavoie M (1992) "Foundations of Post Keynesian Economic Analysis", Edward Elgar.

Arestis P and Skouras T (1985) "Post-Keynesian Economic Theory: A challenge to Neo-Classical Economics",Whetsheaf.

Eichner AS (ed)(1979) "A Guide to Post Keynesian Economics", Macmillan.