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Methodological Foundations of Macroeconomics : Keynes and Lucas - Allessandro Vercelli

Methodological Foundations of Macroeconomics

Keynes and Lucas

Hardcover

Published: 25th February 2003
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This book is an investigation of the methodological and epistemological foundations of macroeconomic theory, based on an examination of the theories of Keynes and Lucas. Professor Vercelli first discusses the methodological issues that lie behind the conflict among different schools of thought in macroeconomics, issues that are central not only to many branches of economics but also to other scientific disciplines. The author compares the two main alternative research programs in macroeconomics: that outlined by Keynes in his "General Theory," and that suggested by Lucas, the leader of the new classical economists. After examining the methodological underpinnings of these conflicting views, he concludes that a Keynesian conception of macroeconomics as a discipline autonomous from microeconomics and open to theoretical and methodological innovation should be defended, thus excluding fundamentalism either of the Keynesian or new classical varieties.

"The book provides an extensive and up-to-date list of references and helpful subject and author indices. The book is well written and will be a valuable source to academicians." Southern Economic Journal

Preface
Introduction
Methodological Foundations Of Macroeconomics
Equilibrium, disequilibrium and economic theory
Dynamic instability and economic models
Structural instability and economic change
Uncertainty, predictability and flexibility
Rationality and expectations
Probabilistic causality and economic analysis: Suppes, Keynes, Granger
Keynes After Lucas
Lucas's scientific paradigm
Lucas's heuristic model
The real equilibrium business cycle and Lucas's attempt at a synthesis
Keynes's heuristic model: general observations
Money and production in Schumpeter and Keynes: Two dichotomies
Keynes's heuristic model: methodological aspects
Conclusions
References
Index
Table of Contents provided by Publisher. All Rights Reserved.

ISBN: 9780521392945
ISBN-10: 0521392942
Audience: Professional
Format: Hardcover
Language: English
Number Of Pages: 288
Published: 25th February 2003
Publisher: Cambridge University Press
Country of Publication: GB
Dimensions (cm): 22.8 x 15.2  x 2.5
Weight (kg): 0.64