Macroeconomic Methodology

Macroeconomic Methodology
Author :
Publisher : Edward Elgar Publishing
Total Pages : 273
Release :
ISBN-10 : 9781849802123
ISBN-13 : 1849802122
Rating : 4/5 (122 Downloads)

Book Synopsis Macroeconomic Methodology by : Jesper Jespersen

Download or read book Macroeconomic Methodology written by Jesper Jespersen and published by Edward Elgar Publishing. This book was released on 2011-01-01 with total page 273 pages. Available in PDF, EPUB and Kindle. Book excerpt: Methodological practice is at the heart of divisions between schools of macroeconomic thought. Jesper Jespersen s book explains why and precisely how, and gives the reader the insight to choose between rival approaches. His own inspiration comes from Critical Realism and Popper s Three World analysis, with Keynes as the main exponent of a realist approach. The starting point of realist theory is a view of how the world is, rather than axioms, and the test is whether the theory can make, as Jespersen puts it, the round trip back to reality , to give practical guidance to policy. This is only the focal point of a rich and attractive canvas. How I wish this book had been available when I taught methodology! And how I wish economists from all schools of thought would read it! Victoria Chick, University College London, UK This welcome volume by Jesper Jespersen offers an up-to-date realist approach to macroeconomics, drawing on recent developments in methodology, notably critical realism, as well as earlier Popperian ideas. He shows how economics in the Post-Keynesian tradition, using this approach, can address the important macro policy issues, and sets out a seven-point agenda for future theory development. This book provides an important launching-off point for addressing macroeconomic questions without the need for the abstractions as narrowly rational representative agents. Rather Jespersen explores the interdependencies between the macro and micro levels in real economic processes under conditions of uncertain knowledge. Sheila Dow, University of Stirling, UK Jesper Jespersen presents a treatise on the importance of the choice of methodology within macroeconomics. Given that no scientifically based macroeconomic policy recommendation should be established without an evaluation of the methods employed, this book gives a clear exposition of how proper macroeconomic analysis should be undertaken. Furthermore, it is convincingly argued that one of the lasting contributions of John Maynard Keynes was his emphasis on methodology; that macroeconomic consequences of uncertainty could not be analysed within the established general equilibrium framework. It is due to post-Keynesian economics supported by critical realism that the understanding of Keynes s methodology has been resurrected, which has eventually resulted in renewed debate on realistic macroeconomic policies to restore full employment without inflation. Macroeconomic Methodology is an inquiry into the question of how to conduct a proper scientific analysis of uncertainty within macroeconomics. It will be of great interest to scholars of the philosophy of social sciences and methodology, as well as post-Keynesian and heterodox economists.

Macroeconomic Methodology Related Books

Macroeconomic Methodology
Language: en
Pages: 273
Authors: Jesper Jespersen
Categories: Business & Economics
Type: BOOK - Published: 2011-01-01 - Publisher: Edward Elgar Publishing

GET EBOOK

Methodological practice is at the heart of divisions between schools of macroeconomic thought. Jesper Jespersen s book explains why and precisely how, and gives
Methods for Applied Macroeconomic Research
Language: en
Pages: 509
Authors: Fabio Canova
Categories: Business & Economics
Type: BOOK - Published: 2011-09-19 - Publisher: Princeton University Press

GET EBOOK

The last twenty years have witnessed tremendous advances in the mathematical, statistical, and computational tools available to applied macroeconomists. This ra
The Methodology of Empirical Macroeconomics
Language: en
Pages: 204
Authors: Kevin D. Hoover
Categories: Business & Economics
Type: BOOK - Published: 2001-10-11 - Publisher: Cambridge University Press

GET EBOOK

The Methodology of Empirical Macroeconomics stakes out a pragmatic middle-ground between traditional, prescriptive economic methodology and recent descriptive (
Methods of Macroeconomic Dynamics
Language: en
Pages: 698
Authors: Stephen J. Turnovsky
Categories: Business & Economics
Type: BOOK - Published: 2000 - Publisher: MIT Press

GET EBOOK

Just as macroeconomic models describe the overall economy within a changing, or dynamic, framework, the models themselves change over time. In this text Stephen
The Handbook of Economic Methodology
Language: en
Pages: 600
Authors: John Bryan Davis
Categories: Business & Economics
Type: BOOK - Published: 1998 - Publisher: Edward Elgar Publishing

GET EBOOK

A multidisciplinary reference in which over 100 commissioned essays provide details of topics and issues that have developed in recent decades and introduce a v