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• W1909309767 abstract "Academic macroeconomics as it has been practiced for the last three decades has a bad reputation, especially after the onset of the 2008 recession. The aim of this paper is to reflect on this state of affairs. To begin, I draw a comparison between Keynesian and Lucasian macroeconomics, bringing to light that they are based on different tenets. Next, I claim that because of its higher internal consistency, Lucasian macroeconomics is superior to Keynesian. However, I also claim that espousing it bears a heavy price — in particular a limited usefulness for policymaking and an inability to come to grips with economic crises." @default.
• W1909309767 created "2016-06-24" @default.
• W1909309767 creator A5048386297 @default.
• W1909309767 date "2013-05-31" @default.
• W1909309767 modified "2023-09-27" @default.
• W1909309767 title "What can civil society expect from academic macroeconomics" @default.
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