Arbeitspapier
Macroeconomic Confusion. A Marshallian Perspective
This note critically evaluates the New Classical Macroeconomics from a Marshallian perspective. Revisiting the famous Keynes-Tinbergen controversy, it is argued that Keynes' criticism comprises the "Lucas critique," and that it is misleading to label this a critique of Keynesian economics. The postulate of immutable economic structures carries Tinbergen's approach to the extreme and neglects the possibility of slowly changing structures, as conceived by Marshall. The position is defended by arguments about equilibrium and rationality that are admittedly empty.
- Sprache
-
Englisch
- Erschienen in
-
Series: Munich Discussion Paper ; No. 2006-6
- Klassifikation
-
Wirtschaft
History of Economic Thought: Macroeconomics
- Thema
-
macroeconomics
real business cycles
Lucas critique
Marshall
Keynes
Tinbergen
time-varying coefficients
adaptive estimation
Kalman filter
equilibrium
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Schlicht, Ekkehart
- Ereignis
-
Veröffentlichung
- (wer)
-
Ludwig-Maximilians-Universität München, Volkswirtschaftliche Fakultät
- (wo)
-
München
- (wann)
-
2006
- DOI
-
doi:10.5282/ubm/epub.886
- Handle
- URN
-
urn:nbn:de:bvb:19-epub-886-0
- Letzte Aktualisierung
-
10.03.2025, 11:43 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
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ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Schlicht, Ekkehart
- Ludwig-Maximilians-Universität München, Volkswirtschaftliche Fakultät
Entstanden
- 2006
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