El estado actual de la teoría macroeconómica

Waldo Mendoza and Ricardo Huaman

No 2004-237, Documentos de Trabajo / Working Papers from Departamento de Economía - Pontificia Universidad Católica del Perú

Abstract: This paper describes the evolution of macroeconomic theory in both closed and open economies. In the first section we present the evolution of the theory of a closed economy‚economies that do not have international trade; nor do it have links to the international financial markets. Since Keynes, the neoclassical synthesis, the monetarists, the revolution of rational expectations, until the most recent literature such as the real business cycle theory and the new Keynesian economics. In the second section we present the evolution of the theory of an open economy. Since Hume, the work of Mundell and Fleming, the monetary approach of the balance of payments, the overshooting and the Open Economy Macroeconomics by Rudiger Dornbusch, until the most recent literature developed in the Foundations of International Macroeconomics by Obstfeld and Rogoff. As is evident, this presentation is not intended to be comprehensive in its coverage of the topics.

Pages: 68 pages
Date: 2004
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Persistent link: https://EconPapers.repec.org/RePEc:pcp:pucwps:wp00237

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