Recent Developments in Macroeconomics: A Very Quick Refresher Course

N. Gregory Mankiw

NBER Working Paper No. 2474 (Also Reprint No. r1080)
Issued in December 1987
NBER Program(s):Economic Fluctuations and Growth

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.

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Document Object Identifier (DOI): 10.3386/w2474

Published:

• 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). citation courtesy of
• N. Gregory Mankiw, 1988. "Recent developments in macroeconomics: a very quick refresher course," Proceedings, Federal Reserve Bank of Cleveland, pages 436-458. citation courtesy of

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