Arbeitspapier

Lucas, Keynes, and the crisis

This paper examines Robert E. Lucas's views on the relationship of macroeconomics to real world economic phenomena, and on Keynes's place in its history, suggesting that these stem from a particular and debatable understanding of how the subdiscipline has evolved. It considers some implications for today's awkward economic facts of aspects of Keynes' General Theory, not so much its speculations about the role of psychology and social conventions in the economic decisions of individual agents recently highlighted by Akerlof and Shiller (2009) however, as its insights into the influence of the monetary system on the coordination of these decisions, along lines later extended by Clower (1965) and Leijonhufvud (1968). It concludes that the questions about co-ordination that Keynes addressed, not to mention some of his answers, are well worth revisiting.

Sprache
Englisch

Erschienen in
Series: Research Report ; No. 2009-2

Klassifikation
Wirtschaft
History of Economic Thought: Macroeconomics
History of Economic Thought: Individuals
General Aggregative Models: Keynes; Keynesian; Post-Keynesian
General Aggregative Models: Neoclassical
Business Fluctuations; Cycles
Thema
Crisis
Co-ordination
Clearing Markets
Auctioneer
Money
Financial Markets
Animal Spirits
Psychology
Keynes
Lucas
Dogmengeschichte
Keynesianismus
Makroökonomik
Theorie

Ereignis
Geistige Schöpfung
(wer)
Laidler, David
Ereignis
Veröffentlichung
(wer)
The University of Western Ontario, Department of Economics
(wo)
London (Ontario)
(wann)
2009

Handle
Letzte Aktualisierung
10.03.2025, 11:42 MEZ

Datenpartner

Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.

Objekttyp

  • Arbeitspapier

Beteiligte

  • Laidler, David
  • The University of Western Ontario, Department of Economics

Entstanden

  • 2009

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