Solow's Struggle with Medium-Run Macroeconomics: 1956-1995

Arbeitspapier

Solow has repeatedly called for the development of models that combine equilibrium and out-of equilibrium outcomes or what he called a macroeconomics of the medium-run. This paper recounts the history of Solow's different attempts to address this issue. It starts in early 1950s when Solow developed his long-run growth model and it ends in the mid 1990s with the publication of A Critical Essay on Modern Macroeconomic Theory co-written with Frank Hahn. This narrative involves different economists associated with various research traditions, going from the neo-classical synthesis in the 1960s, the New Classical Economics in the 1970s and the New Keynesianism in the 1980s.

Object Details

• Language: Englisch

References and Relationships

• Bibliographic citation: Series: CHOPE Working Paper ; No. 2013-17

Classification and Topics

• Classification: Wirtschaft
• Subject: economic growth ; Robert Solow ; Medium-Run macroeconomics ; dynamics ; multiple equilibria

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Assous, Michael
• Event: Veröffentlichung
• (who): Duke University, Center for the History of Political Economy (CHOPE)
• (where): Durham, NC
• (when): 2013

Further information

• Handle: http://hdl.handle.net/10419/149708
• Last update: 10.03.2025, 11:43 AM CET