http://burnsblog.umwblogs.org It's All About ME Thu, 01 May 2008 00:28:15 +0000 http://backend.userland.com/rss092 en Hoover, Kevin D. "Is Macroeconomics for Real?" (June 1999) How sad would it be if the big punchline to this course was the fact that macroeconomics wasn't real? I'd ask for a refund. Thankfully, that was not the conclusion of this article and hasn't necessarily been the conclusion of most economists. ... http://burnsblog.umwblogs.org/2008/04/30/is-macro-for-real/ King, Robert G. "Will the New Keynesian Macroeconomics Resurrect the IS-LM Model?" Journal of Economic Perspectives 7, no. 1 (Winter 1993): 67-82. Part of the downfall of the original Keynesian model was its inability to explain the theoretical foundations for the existence of sticky prices. The past two decades has ... http://burnsblog.umwblogs.org/2008/04/27/will-new-keynesians-resurrect-the-is-lm-model/ Alan S. Blinder, “Is There a Core of Practical Macro That We Should All Believe?” American Economic Review, Vol. 87, No. 2, May, 1997. Asking the question (in the title, by the way) "Is There a Core of Practical Macro That We Should All Believe," Alan Blinder argues that ... http://burnsblog.umwblogs.org/2008/04/26/agreeing-on-a-core-of-practical-macro/ Mankiw, Gregory N. "A Quick Refresher Course in Macroeconomics." Journal of Economic Literature 28 (December 1990): 1645-1660. In this article, Mankiw attempts to reconcile why developments in economic theory had not yet been translated into changes in applied macroeconomics. Until the 1970s, John Hicks' interpretation of John Maynard Keynes' vision of ... http://burnsblog.umwblogs.org/2008/03/30/new-keynesian-thought-and-a-quick-refresher-course-in-macroeconomics/ Stockman, Alan. “Real Business Cycle Theory: a Guide, an Evaluation, and New Directions,” Federal Reserve Bank of Cleveland Economic Review, 1988 Quarter 4, Vol. 24, No. 4, pp. 24-47. purpose of real business cycle (RBC) models explain aggregate fluctuations in business cycles without reference to monetary policy explain fluctuations ... http://burnsblog.umwblogs.org/2008/03/20/real-business-cycle-theory-a-guide-an-evaluation-and-new-directions/ Is it usual for the chairman of the Federal Reserve and the Secretary of Treasury to take such a direct action in bailing out a specific investment firm? http://burnsblog.umwblogs.org/2008/03/17/what-is-going-on-here/ Prescott, Edward C. "Theory ahead of business cycle measurement." Federal Reserve Bank of Minneapolis Quarterly Review (1986) Fall, pp9-11. Just as a disclaimer (I know this is lame!): Since Prescott spends a great portion of his paper testing theoretical predictions of statistical properties, it was a bit difficult to follow how ... http://burnsblog.umwblogs.org/2008/03/11/theory-ahead-of-business-cycle-measurement/ Laidler, David. "The New-Classical Contribution to Macroeconomics." Banca Nazionale Del Lavoro Quarterly Review, 1986. More thoroughly than monetarism, new-classical economics has tried to define macroeconomic principles based on pre-Keynesian classical theory. Laidler argues that this key difference has yielded some overly stringent new-classical assertions, particularly its view that microeconomic behavior ... http://burnsblog.umwblogs.org/2008/02/22/the-new-classical-contribution-to-macroeconomics/ Krugman, Paul. Peddling Prosperity. New York: W.W. Norton & Company, 1994. I have to say, this post will be a bit out of my comfort zone and have a slightly less formal tone than I'm used to. This is partly because Paul Krugman's book lays out a thorough but not ... http://burnsblog.umwblogs.org/2008/02/20/peddling-prosperity-the-story-of-reagan-and-the-supply-siders/ Attfield, C.L.F., D. Demery and N.W. Duck. Rational Expectations in Macroeconomics. New York: Basil Blackwell Ltd, 1985. Note: I focused my summary on the first three chapters of this book. I will edit my post sometime this week to include information from Chapter 5, which discusses rational expectations in ... http://burnsblog.umwblogs.org/2008/02/11/rational-expectations-in-macroeconomics/