A Critical Appraisal of the New Consensus Macroeconomics

Philip Arestis

Chapter 6 in Microeconomics, Macroeconomics and Economic Policy, 2011, pp 99-115 from Palgrave Macmillan

Abstract: Abstract Malcolm Sawyer has been one of the earliest critics of what we now know as the New Consensus in Macroeconomics (NCM in short). It has been a great privilege to have had the opportunity to work with Malcolm Sawyer all these years, not merely on this aspect of macroeconomics, but also on many others. It is, therefore, a real pleasure to contribute to this particular volume and elaborate further on the vast amount of research that Malcolm Sawyer has successfully undertaken over the years (as, for example, in Sawyer, 2009; see, also, Arestis and Sawyer, 2003, 2004a, 2004b, 2006, 2008a, 2008b).

Keywords: Interest Rate; Monetary Policy; Central Bank; Fiscal Policy; Real Exchange Rate (search for similar items in EconPapers)
Date: 2011
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-31375-0_6

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DOI: 10.1057/9780230313750_6

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