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schlicht-macroeconomics.pdf
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🔗 Source: epub.ub.uni-muenchen.de
📊 Size: 238 KB
📄 Pages: 9 pages
⬇️ Downloads: 142

Summary

Ekkehart Schlicht criticizes the "New Classical Macroeconomists" for their rigorous approach to macroeconomic phenomena, which he argues is based on shaky foundations and confused terminology. He explains that Tinbergen's method of estimating economic relationships using time-invariant behavioral relations has been carried to an extreme by the New Classical Macroeconomists. Keynes had criticized this approach, arguing that economic parameters cannot be assumed to remain constant over time. Schlicht argues that the New Classical Macroeconomists' rejection of the idea of an ever-changing economic universe is incompatible with evaluating economic policy, and that a Marshallian approach, which allows economic structures to change over time, is more suitable.

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Ekkehart Schlicht criticizes the "New Classical Macroeconomists" for their rigorous approach to macroeconomic phenomena, which he argues is based on shaky...

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  • File Format: PDF
  • File Size: 238 KB
  • Pages: 9
  • Language: EN
  • Total Downloads: 142
  • Last Updated: 5 days ago

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