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The fireman and the architect

Author

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  • Xavier Timbeau

    (OFCE - Observatoire français des conjonctures économiques (Sciences Po) - Sciences Po - Sciences Po)

Abstract

Global crises are very rare events. After the Great Depression and the Great Stagflation, new macroeconomic paradigms associated with a new policy regime emerged. This book addresses how some macroeconomic ideas have failed, and examines which theories researchers should preserve and develop. It questions how the field of economics – still reeling from the global financial crisis initiated in the summer of 2007 – will respond.
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Suggested Citation

  • Xavier Timbeau, 2012. "The fireman and the architect," SciencePo Working papers Main hal-03414139, HAL.
    • Handle: RePEc:hal:spmain:hal-03414139
    Note: View the original document on HAL open archive server: https://hal-sciencespo.archives-ouvertes.fr/hal-03414139
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    References listed on IDEAS

    as
    1. Barro, Robert J, 1974. "Are Government Bonds Net Wealth?," Journal of Political Economy, University of Chicago Press, vol. 82(6), pages 1095-1117, Nov.-Dec..
    2. Branko Milanovic, 2005. "Global Income Inequality: What It Is And Why It Matters?," HEW 0512001, University Library of Munich, Germany.
    3. George A. Akerlof, 2007. "The Missing Motivation in Macroeconomics," American Economic Review, American Economic Association, vol. 97(1), pages 5-36, March.
    4. Joseph E Stiglitz, 2009. "The Current Economic Crisis and Lessons for Economic Theory," Eastern Economic Journal, Palgrave Macmillan;Eastern Economic Association, vol. 35(3), pages 281-296.
    5. McCloskey, Donald N, 1983. "The Rhetoric of Economics," Journal of Economic Literature, American Economic Association, vol. 21(2), pages 481-517, June.
    6. Xavier Timbeau, 2011. "Solidarité intergénérationnelle et dette publique," Revue de l'OFCE, Presses de Sciences-Po, vol. 0(1), pages 191-212.
    7. Krugman, Paul, 2000. "How Complicated Does the Model Have to Be?," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 16(4), pages 33-42, Winter.
    8. Olivier Blanchard, 2009. "The State of Macro," Annual Review of Economics, Annual Reviews, vol. 1(1), pages 209-228, May.
    9. Branko Milanovic, 2006. "Global Income Inequality," World Economics, World Economics, 1 Ivory Square, Plantation Wharf, London, United Kingdom, SW11 3UE, vol. 7(1), pages 131-157, January.
    10. repec:bla:scandj:v:93:y:1991:i:2:p:129-48 is not listed on IDEAS
    11. Wyplosz, Charles, 2009. "Macroeconomics After the Crisis," Walter Adolf Jöhr Lecture 2009, University of St. Gallen, School of Economics and Political Science, Institute of Economics (FGN-HSG).
    12. Fama, Eugene F, 1970. "Efficient Capital Markets: A Review of Theory and Empirical Work," Journal of Finance, American Finance Association, vol. 25(2), pages 383-417, May.
    13. Diamond, Peter A, 1982. "Aggregate Demand Management in Search Equilibrium," Journal of Political Economy, University of Chicago Press, vol. 90(5), pages 881-894, October.
    14. repec:hal:spmain:info:hdl:2441/5l6uh8ogmqildh09h61kh4poj is not listed on IDEAS
    15. Paul R. Krugman, 1998. "It's Baaack: Japan's Slump and the Return of the Liquidity Trap," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 29(2), pages 137-206.
    16. Alan P. Kirman, 1992. "Whom or What Does the Representative Individual Represent?," Journal of Economic Perspectives, American Economic Association, vol. 6(2), pages 117-136, Spring.
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    Cited by:

    1. Tom van Veen, 2020. "Have Macroeconomic Models Lost Their Connection with Economic Reality?," CESifo Working Paper Series 8256, CESifo.

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