Recent Developments in Macroeconomics: A Very Quick Refresher Course
NBER Working Paper No. 2474 (Also Reprint No. r1080)
Issued in December 1988
NBER Program(s): EFG
This paper outlines the major developments in macroeconomics over the past two decades. It examines the reasons for the breakdown in the consensus view of the 1960s and how this breakdown has guided research in macroeconomics. The introduction and importance of "rational expectations" are discussed, as are recent advances within the new classical and new Keynesian paradigms.
- Mankiw, N. Gregory, "Recent Developments in Macroeconomics: A Very Quick Refresher Course." Journal of Money, Credit and Banking, Vol. 20, No. 3, pp. 436-449, (August 1988, Part 2).
- N. Gregory Mankiw, 1988. "Recent developments in macroeconomics: a very quick refresher course," Proceedings, Federal Reserve Bank of Cleveland, pages 436-458.
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