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  1. Home
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  3. Post Walrasian Macroeconomics
  • Cited by 47
Publisher:
Cambridge University Press
Online publication date:
December 2009
Print publication year:
2006
Online ISBN:
9780511617751
DOI:
https://doi.org/10.1017/CBO9780511617751
Subjects:
Economics, Economic Thought, Philosophy and Methodology, Economic Theory
Information

Book description

Macroeconomics is evolving in an almost dialectic fashion. The latest evolution is the development of a new synthesis that combines insights of new classical, new Keynesian and real business cycle traditions into a dynamic, stochastic general equilibrium (DSGE) model that serves as a foundation for thinking about macro policy. That new synthesis has opened up the door to a new antithesis, which is being driven by advances in computing power and analytic techniques. This new synthesis is coalescing around developments in complexity theory, automated general to specific econometric modeling, agent-based models, and non-linear and statistical dynamical models. This book thus provides the reader with an introduction to what might be called a Post Walrasian research program that is developing as the antithesis of the Walrasian DSGE synthesis.

Reviews

"This impressive book contains contributions from some of the most inquisitive minds in economics.... [It] provides an excellent introduction...as well as clear indications of the direction that macroeconomics is moving toward." - Eastern Economic Journal

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