Monetarism and Market Clearing
Michel De Vroey and
Hans-Michael Trautwein
Chapter 11 in David Laidler’s Contributions to Economics, 2010, pp 235-265 from Palgrave Macmillan
Abstract:
Abstract The 1970s and the 1980s were marked by fierce controversies between Keynesian and monetarist economists.1 A quarter of a century later, the macroeconomics scene has changed dramatically with the dethroning of Keynesian macroeconomics and its replacement by new classical macroeconomics and real business-cycle models. This evolution can be encapsulated as the rising of Walrasian macroeco-nomics.2 A reshuffling of standpoints has ensued. In the face of this new way of practising macroeconomics, the old foes of Keynesianism and monetarism have discovered that they have more in common than they previously believed, in particular that they share the same Marshallian affiliation.
Keywords: Labour Market; Real Wage; Natural Rate; Market Equilibrium; Market Clearing (search for similar items in EconPapers)
Date: 2010
References: Add references at CitEc
Citations:
There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.
Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
HTML/Text
Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-24841-0_11
Ordering information: This item can be ordered from
http://www.palgrave.com/9780230248410
DOI: 10.1057/9780230248410_11
Access Statistics for this chapter
More chapters in Palgrave Macmillan Books from Palgrave Macmillan
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().