Three Fundamental Questions

Joseph Stiglitz

Chapter 1 in Towards a General Theory of Deep Downturns: Presidential Address from the 17th World Congress of the International Economic Association in 2014, 2016, pp 5-12 from Palgrave Macmillan

Abstract: Abstract This chapter, an extension of the Presidential Address to the International Economic Association, evaluates alternative strands of macroeconomics in terms of the three basic questions posed by deep downturns: What is the source of large perturbations? How can we explain the magnitude of volatility? How do we explain persistence?.

Keywords: Real Interest Rate; Aggregate Demand; Full Employment; Nominal Interest Rate; Presidential Address (search for similar items in EconPapers)
Date: 2016
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Persistent link: https://EconPapers.repec.org/RePEc:pal:intecp:978-1-137-58691-9_2

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DOI: 10.1007/978-1-137-58691-9_2

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