Keynesian Economics - Back from the Dead? The Godley-Tobin Lecture

Robert Rowthorn

Working Papers from Centre for Business Research, University of Cambridge

Abstract: This paper surveys some the main developments in macroeconomics since the anti-Keynesian counter-revolution 40 years ago. It covers both mainstream and heterodox economics. Amongst the topics discussed are: New Keynesian economics, Modern Monetary Theory (MMT), expansionary fiscal contraction, unconventional monetary policy, the Phillips curve, and hysteresis. The conclusion is that Keynesian economics is alive and well, and that there has been a degree of convergence between heterodox and mainstream economics.

Keywords: Macroeconomics; Keynesian economics; Keynes (search for similar items in EconPapers)
JEL-codes: B22 E10 E31 E60 (search for similar items in EconPapers)
Date: 2019-06
New Economics Papers: this item is included in nep-his, nep-hpe, nep-mac and nep-pke
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Persistent link: https://EconPapers.repec.org/RePEc:cbr:cbrwps:wp512

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