Year: 2020
Type: article
Abstract: This paper surveys some of the main developments in macroeconomics since the anti-Keynesian counter-revolution 40 years ago. It covers both mainstream and heterodox economics. Amongst the topics discussed are: New Keynesian economics, Modern Monetary Theory, expansionary fiscal contraction, unconventional monetary policy, the Phillips curve, hysteresis, and heterodox theories of growth and distribution. The conclusion is that Keynesian economics is alive and well, and that there has been a degree of convergence between heterodox and mainstream economics.
Source: Review of Keynesian Economics
Author: Robert Rowthorn
Institution: University of Cambridge
Language: English
Topic: Economic Theory and Policy
Domain: Social Sciences
Open Access status: hybrid
OpenAlex ID: W3002177198