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Social Sciences x General Economics x Macroeconomics and Monetary Economics x clear all

Forward-looking contrast explanation, illustrated using the Great Moderation

Jamie Morgan.

in Cambridge Journal of Economics

July 2013; p ublished online January 2013 .

Journal Article. Subjects: General Economics; Economics; Economic Methodology; Monetary Policy, Central Banking, and the Supply of Money and Credit. 13014 words.

In Reorienting Economics, Lawson introduces the concept of contrast explanation, initially defined using the question form ‘why x, rather than y?’ where it is a surprising or unexpected...

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The hypostasis of money: an economic point of view

Jean Cartelier.

in Cambridge Journal of Economics

March 2007; p ublished online July 2006 .

Journal Article. Subjects: Comparative Economic Systems; General Economics; General Aggregative Models; Money and Interest Rates. 9863 words.

The purpose of this article is to show that money is not an entity but hic et nunc a genuine mode of circulation associated with a genuine social organisation. Criticising money hypostasis...

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An interdisciplinary model for macroeconomics

A G Haldane and A E Turrell.

in Oxford Review of Economic Policy

January 2018; p ublished online January 2018 .

Journal Article. Subjects: General Economics; History of Economic Thought (1925 onwards); Economic Methodology; Mathematical Methods; Programming Methods; Mathematical and Simulation Modelling; Macroeconomics: Consumption, Saving, Production, Employment, and Investment; Macroeconomics and Monetary Economics. 13904 words.

Abstract

Macroeconomic modelling has been under intense scrutiny since the Great Financial Crisis, when serious shortcomings were exposed in the methodology...

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Is something really wrong with macroeconomics?

Ricardo Reis.

in Oxford Review of Economic Policy

January 2018; p ublished online January 2018 .

Journal Article. Subjects: General Economics; History of Economic Thought (1925 onwards); Macroeconomics and Monetary Economics. 11300 words.

Abstract

Many critiques of the state of macroeconomics are off target. Current macroeconomic research is not mindless DSGE modelling filled with ridiculous...

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On the future of macroeconomics: a New Monetarist perspective

Randall Wright.

in Oxford Review of Economic Policy

January 2018; p ublished online January 2018 .

Journal Article. Subjects: General Economics; History of Economic Thought; Macroeconomics and Monetary Economics. 14260 words.

Abstract

This article argues that a pressing goal for macroeconomics is to incorporate financial considerations, but we need models with solid...

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Time to reject the privileging of economic theory over empirical evidence? A reply to Lawson

Katarina Juselius.

in Cambridge Journal of Economics

March 2011; p ublished online August 2010 .

Journal Article. Subjects: General Aggregative Models; General Economics; Economic Methodology; Macroeconomics: Consumption, Saving, Production, Employment, and Investment; Macroeconomics and Monetary Economics; Multiple or Simultaneous Equation Models; Multiple Variables; Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook; Econometric Modelling. 6903 words.

The present financial and economic crisis has revealed a systemic failure of academic economics and emphasised the need to re-think how to model economic phenomena. Tony Lawson seems...

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Where modern macroeconomics went wrong

Joseph E Stiglitz.

in Oxford Review of Economic Policy

January 2018; p ublished online January 2018 .

Journal Article. Subjects: General Economics; Economic Education and Teaching of Economics; Macroeconomics and Monetary Economics; General Aggregative Models. 20055 words.

Abstract

This paper provides a critique of the DSGE models that have come to dominate macroeconomics during the past quarter-century. It argues that at the...

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