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The Theory of Macroeconomic Policy

In: The Nature of Macroeconomics

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Abstract

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.

Suggested Citation

  • ., 2000. "The Theory of Macroeconomic Policy," Chapters, in: The Nature of Macroeconomics, chapter 5, Edward Elgar Publishing.
  • Handle: RePEc:elg:eechap:1742_5
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    File URL: https://www.elgaronline.com/view/9781840640694.00012.xml
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    Cited by:

    1. Hervé Queffélec & Dalibor Volný, 2012. "On Martingale Approximation of Adapted Processes," Journal of Theoretical Probability, Springer, vol. 25(2), pages 438-449, June.
    2. Christopher Allsopp & David Vines, 2005. "The Macroeconomic Role of Fiscal Policy," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 21(4), pages 485-508, Winter.

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    Keywords

    Economics and Finance;

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