Recent Developments in Macroeconomics

Stanley Fischer

Economic Journal, 1988, vol. 98, issue 391, 294-339

Abstract: Underlying the existence of macroeconomics as a separate field of study are the phenomena of economy-wide fluctuations of output and prices, and sometimes persistent high levels of unemployment. Two basic views of macroeconomic behavior have persisted even as conceptual innovati ons and the application of more powerful analytic and empirical techn iques have brought significant changes in understanding of the macroe conomy. Copyright 1988 by Royal Economic Society.

Date: 1988
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