Macroeconomics - Which Way Now?

Torben M. Andersen

Nordic Journal of Political Economy, 2004, vol. 30, 3-9

Abstract: Recent developments in macroeconomics are reviewed, and it is argued that a better understanding of the role of market failures and institutions is a major achievement. The insights in when and how policy intervention may be called for have thus been improved. However, the progress does not imply that we are approaching a situation where business cycles can be “controlled”; rather it implies that we better understand why this would be very difficult if not impossible.

JEL-codes: B22 E3 (search for similar items in EconPapers)
Date: 2004
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Persistent link: https://EconPapers.repec.org/RePEc:noj:journl:v:30:y:2004:p:3-9

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