Michel De Vroey
Dados Biográficos
| ID | 521732 |
|---|---|
| NOME | Michel De Vroey |
| PRENOMES | Michel |
| SOBRENOME | De Vroey |
| ASSINATURA | DE VROEY M |
| AFILIAÇÕES | UCLouvain |
| VERIFICADO | Não |
| TOTAL DE OBRAS | 27 |
| TOTAL DE CITAÇÕES | 48 |
| TOTAL COMO AUTOR | 27 |
| TOTAL COMO EDITOR | 0 |
| PRIMEIRO ANO DE PUBLICAÇÃO | 1982 |
| ANO MAIS RECENTE DE PUBLICAÇÃO | 2026 |
| ÍNDICE H | 3 |
What Do We Teach in Macroeconomics? Evidence of a Theoretical Discrepancy
The aim of our article is to assess what we call the “discrepancy hypothesis.” It states that the transformation of macroeconomics triggered by Lucas, Kydland, and Prescott has failed to percolate into the contents of undergraduate textbooks. In the theoretical part of the paper, we draw a contrast between AS-AD and DGE modeling based on three benchmarks: the presence of microfoundations, the expectations assumption, and the presence of intertemp…
Should the history of macroeconomics steer clear of the fray or be partisan? A critical essay on Banks and Finance in Modern Macroeconomics by B. Ingrao and C. Sardoni
My review of Ingrao and Sardoni’s book paper focuses on its Part II, entitled “From the Neoclassical Synthesis to New Keynesian Economics.” My criticisms amount to three. First, I disagree with Ingrao and Sardoni’s account of the twists and turns that have occurred in modern macroeconomics. Often, where they see continuity, I see cleavage; where they see cleavage, I see continuity. Second, I put forward that the result of the 2008 recession is th…
Macroeconomics and the Phillips Curve Myth by James Forder
Over the last few years, James Forder has made a name for himself among historians of economics by writing a series of papers reexamining the Phillips curve literature. The task he sets himself in the present book, entitled Macroeconomics and the Phillips Curve Myth, is to systematize and enrich his earlier contributions. The end result is a brilliant and beautifully written essay, and a stimulating read. Its author’s cleverness shines through on…
A History of Macroeconomics from Keynes to Lucas and Beyond
This book retraces the history of macroeconomics from Keynes's General Theory to the present. Central to it is the contrast between a Keynesian era and a Lucasian - or dynamic stochastic general equilibrium (DSGE) - era, each ruled by distinct methodological standards. In the Keynesian era, the book studies the following theories: Keynesian macroeconomics, monetarism, disequilibrium macroeconomics (Patinkin, Leijongufvud and Clower), non-Walrasia…
Response to the Comments
I thank Jean-Sébastien Lenfant for having set up this symposium on my book on the history of macroeconomics. I enjoyed reading the comments by Fabrice Collard, Pedro Duarte and Francesco Sergi and thank them for taking the time to ponder upon my work. Luckily, their comments happen to be complementary. Sergi sets himself the task of informing the reader of the content of the book. In spite of being a good friend of mine (or because of it), Duarte…
Klein et l’émergence de la modélisation macroéconomique
International audience
Lucas on the Relationship between Theory and Ideology
This paper concerns a neglected aspect of Lucas’s work: his methodological writings, published and unpublished. Particular attention is paid to his views on the relationship between theory and ideology. I start by setting out Lucas’s non-standard conception of theory: to him, a theory and a model are the same thing. I also explore the different facets and implications of this conception. In the next two sections, I debate whether Lucas adheres to…
Lucas on the Relationship between Theory and Ideology
Lucas on the Relationship between Theory and Ideology
The Causes, Costs and Compensations of Inflation
A Marshall-Walras Divide? A Critical Review of the Prevailing Viewpoints
The aim of this essay is to examine economists' views about the relationship between Marshallian and Walrasian theory. Are they complementary, as is usually believed, or do they constitute alternative research programs? I compare two viewpoints on this matter, the conciliatory and the antagonistic. After describing these, I present my own standpoint: I believe that there is a Marshall–Walras divide, but I have serious objections to the way in whi…
El liberalismo económico y la crisis
En los numerosos debates que evocan el liberalismo económico, éste se presenta como una realidad monolítica; el objetivo de este artículo consiste en poner de manifiesto que distintos grados de liberalismo deben distinguirse: el pleno liberalismo, el liberalismo mitigado y el antiliberalismo mitigado, con subdistinciones al interior de las dos primeras categorías. En la primera parte se recuerdan las características que marcan el liberalismo econ…
Post Walrasian Macroeconomics
Walrasian Economics
Book Review| November 01 2007 Walrasian Economics . By Donald Walker. Cambridge: Cambridge University Press, 2006. 357 pp. $80.00. Michel De Vroey Michel De Vroey Search for other works by this author on: This Site Google History of Political Economy (2007) 39 (4): 747–750. https://doi.org/10.1215/00182702-2007-041 Cite Icon Cite Share Icon Share Facebook Twitter LinkedIn MailTo Permissions Search Site Citation Michel De Vroey; Walrasian Economic…
Théorie du déséquilibre et chômage involontaire
L’objectif de cet article est d’établir si les modèles appartenant à l’approche dite du déséquilibre ont réussi à produire un résultat de chômage involontaire. À cette fin, nous examinons dans un premier temps les travaux précurseurs de Patinkin, Clower et Leijonhufvud et mettons en avant leurs lacunes. Dans un deuxième temps, notre attention se porte sur les modèles, plus élaborés, de Barro et Grossman, Drèze, Bénassy et Malinvaud. La principale…
Theorie du desequilibre et chomage involontaire
The History of Macroeconomics Viewed against the Background of the Marshall-Walras Divide
Research Article| December 01 2004 The History of Macroeconomics Viewed against the Background of the Marshall-Walras Divide Michel De Vroey Michel De Vroey Search for other works by this author on: This Site Google History of Political Economy (2004) 36 (Suppl_1): 57–91. https://doi.org/10.1215/00182702-36-Suppl_1-57 Cite Icon Cite Share Icon Share Twitter Permissions Search Site Citation Michel De Vroey; The History of Macroeconomics Viewed aga…
Introduction
For some twenty-five years after the end of World War II, the IS-LM model dominated macroeconomics. With the advent of the new classical macroeconomics in the early 1970s, that dominance was at first challenged and then broken. Yet the IS-LM model lives on. While no longer central to the graduate training of most macroeconomists or to cutting-edge macroeconomic research, the IS-LM model continues to be a mainstay of undergraduate textbooks, finds…
Dictionnaire des grandes oeuvres economiques
Cet article situe la contribution de l'ouvrage Macroéconomie et théorie du déséquilibre de Jean-Pascal Benassy dans le développement d'une théorie macroéconomique non walrasienne
IS-LM à la Hicks versus IS-LM à la Modigliani
Research Article| June 01 2000 IS-LM à la Hicks versus IS-LM à la Modigliani Michel De Vroey Michel De Vroey Search for other works by this author on: This Site Google History of Political Economy (2000) 32 (2): 293–316. https://doi.org/10.1215/00182702-32-2-293 Views Icon Views Article contents Figures & tables Video Audio Supplementary Data Peer Review Share Icon Share Facebook Twitter LinkedIn Email Tools Icon Tools Permissions Cite Icon Cite …
The Marshallian Market and the Walrasian Economy. Two Incompatible Bedfellows
The aim of this paper is to question a view which is usually taken for granted, namely that the Marshallian partial equilibrium and Walrasian general equilibrium analysis stand in a relationship of continuity. It will be claimed that the contrary is true: the generalisation of the Marshallian market does not lead to a Walrasian economy or, conversely, the Walrasian economy is not composed of Marshallian markets. To bring this point home, the basi…
Le concept de chômage involontaire
De Vroey Michel. Le concept de chômage involontaire : de Keynes aux nouveaux keynésiens.. In: Revue économique, volume 48, n°6, 1997. pp. 1381-1408
Le concept de chômage involontaire, de Keynes aux nouveaux keynésiens
La possibilité d'une économie décentralisée. Esquisse d'une alternative à la théorie de l'équilibre général
De Vroey Michel. La possibilité d'une économie décentralisée. Esquisse d'une alternative à la théorie de l'équilibre général. In: Revue économique, volume 38, n°4, 1987. pp. 773-806
La théorie du salaire de Marx
[eng] Marx's theory of waces : An heterodox criticism Michel De Vroey The aim of this article if, to question Marx's project of integrating the wage-relationship into general equilibrium. In a first part, I examine the theoretical status of the notion of labour power and argue that it should be considered as a particular natural ressource rather than a particular commodity, as it is usually assumed in the Marxian tradition. The second part of the…
A regulation approach interpretation of contemporary crisis
Drawing upon the French tradition of regulation theory - most notably associated with Aglietta - the author describes the 'forms of regulation' that have characterized the various stages of capitalism. He argues that while the current crisis consists of a disruption of the whole structure of monopoly regulation, it is not a deathknell for capitalism itself. A way out of the crisis would involve the development of a new form of regulation, a new r…
IS-LM à la Hicks versus IS-LM à la Modigliani
Research Article| June 01 2000 IS-LM à la Hicks versus IS-LM à la Modigliani Michel De Vroey Michel De Vroey Search for other works by this author on: This Site Google History of Political Economy (2000) 32 (2): 293–316. https://doi.org/10.1215/00182702-32-2-293 Views Icon Views Article contents Figures & tables Video Audio Supplementary Data Peer Review Share Icon Share Facebook Twitter LinkedIn Email Tools Icon Tools Permissions Cite Icon Cite …
The Marshallian Market and the Walrasian Economy. Two Incompatible Bedfellows
The aim of this paper is to question a view which is usually taken for granted, namely that the Marshallian partial equilibrium and Walrasian general equilibrium analysis stand in a relationship of continuity. It will be claimed that the contrary is true: the generalisation of the Marshallian market does not lead to a Walrasian economy or, conversely, the Walrasian economy is not composed of Marshallian markets. To bring this point home, the basi…
Lucas on the Relationship between Theory and Ideology
This paper concerns a neglected aspect of Lucas’s work: his methodological writings, published and unpublished. Particular attention is paid to his views on the relationship between theory and ideology. I start by setting out Lucas’s non-standard conception of theory: to him, a theory and a model are the same thing. I also explore the different facets and implications of this conception. In the next two sections, I debate whether Lucas adheres to…
Théorie du déséquilibre et chômage involontaire
L’objectif de cet article est d’établir si les modèles appartenant à l’approche dite du déséquilibre ont réussi à produire un résultat de chômage involontaire. À cette fin, nous examinons dans un premier temps les travaux précurseurs de Patinkin, Clower et Leijonhufvud et mettons en avant leurs lacunes. Dans un deuxième temps, notre attention se porte sur les modèles, plus élaborés, de Barro et Grossman, Drèze, Bénassy et Malinvaud. La principale…
The History of Macroeconomics Viewed against the Background of the Marshall-Walras Divide
Research Article| December 01 2004 The History of Macroeconomics Viewed against the Background of the Marshall-Walras Divide Michel De Vroey Michel De Vroey Search for other works by this author on: This Site Google History of Political Economy (2004) 36 (Suppl_1): 57–91. https://doi.org/10.1215/00182702-36-Suppl_1-57 Cite Icon Cite Share Icon Share Twitter Permissions Search Site Citation Michel De Vroey; The History of Macroeconomics Viewed aga…
Dictionnaire des grandes oeuvres economiques
Cet article situe la contribution de l'ouvrage Macroéconomie et théorie du déséquilibre de Jean-Pascal Benassy dans le développement d'une théorie macroéconomique non walrasienne
On the Obsolescence of the Marxian Theory of Value
Until recently, to assert at the same time adhesion to the Marxian paradigm and rejection of the labour theory of value would have been considered blasphemy. A pathbreaking iconoclast in this respect was Joan Robinson, although she did not really speak from within Marxism. For her, value was a blatantly metaphysical concept with no oper-ational content. `No point of substance in Marx's argument depends upon the labour theory of value. Voltaire re…
A regulation approach interpretation of contemporary crisis
Drawing upon the French tradition of regulation theory - most notably associated with Aglietta - the author describes the 'forms of regulation' that have characterized the various stages of capitalism. He argues that while the current crisis consists of a disruption of the whole structure of monopoly regulation, it is not a deathknell for capitalism itself. A way out of the crisis would involve the development of a new form of regulation, a new r…
La théorie du salaire de Marx
[eng] Marx's theory of waces : An heterodox criticism Michel De Vroey The aim of this article if, to question Marx's project of integrating the wage-relationship into general equilibrium. In a first part, I examine the theoretical status of the notion of labour power and argue that it should be considered as a particular natural ressource rather than a particular commodity, as it is usually assumed in the Marxian tradition. The second part of the…
La possibilité d'une économie décentralisée. Esquisse d'une alternative à la théorie de l'équilibre général
De Vroey Michel. La possibilité d'une économie décentralisée. Esquisse d'une alternative à la théorie de l'équilibre général. In: Revue économique, volume 38, n°4, 1987. pp. 773-806
Le concept de chômage involontaire
De Vroey Michel. Le concept de chômage involontaire : de Keynes aux nouveaux keynésiens.. In: Revue économique, volume 48, n°6, 1997. pp. 1381-1408
Le concept de chômage involontaire, de Keynes aux nouveaux keynésiens
The Marshallian Market and the Walrasian Economy. Two Incompatible Bedfellows
The aim of this paper is to question a view which is usually taken for granted, namely that the Marshallian partial equilibrium and Walrasian general equilibrium analysis stand in a relationship of continuity. It will be claimed that the contrary is true: the generalisation of the Marshallian market does not lead to a Walrasian economy or, conversely, the Walrasian economy is not composed of Marshallian markets. To bring this point home, the basi…
IS-LM à la Hicks versus IS-LM à la Modigliani
Research Article| June 01 2000 IS-LM à la Hicks versus IS-LM à la Modigliani Michel De Vroey Michel De Vroey Search for other works by this author on: This Site Google History of Political Economy (2000) 32 (2): 293–316. https://doi.org/10.1215/00182702-32-2-293 Views Icon Views Article contents Figures & tables Video Audio Supplementary Data Peer Review Share Icon Share Facebook Twitter LinkedIn Email Tools Icon Tools Permissions Cite Icon Cite …
Dictionnaire des grandes oeuvres economiques
Cet article situe la contribution de l'ouvrage Macroéconomie et théorie du déséquilibre de Jean-Pascal Benassy dans le développement d'une théorie macroéconomique non walrasienne
Théorie du déséquilibre et chômage involontaire
L’objectif de cet article est d’établir si les modèles appartenant à l’approche dite du déséquilibre ont réussi à produire un résultat de chômage involontaire. À cette fin, nous examinons dans un premier temps les travaux précurseurs de Patinkin, Clower et Leijonhufvud et mettons en avant leurs lacunes. Dans un deuxième temps, notre attention se porte sur les modèles, plus élaborés, de Barro et Grossman, Drèze, Bénassy et Malinvaud. La principale…
Theorie du desequilibre et chomage involontaire
The History of Macroeconomics Viewed against the Background of the Marshall-Walras Divide
Research Article| December 01 2004 The History of Macroeconomics Viewed against the Background of the Marshall-Walras Divide Michel De Vroey Michel De Vroey Search for other works by this author on: This Site Google History of Political Economy (2004) 36 (Suppl_1): 57–91. https://doi.org/10.1215/00182702-36-Suppl_1-57 Cite Icon Cite Share Icon Share Twitter Permissions Search Site Citation Michel De Vroey; The History of Macroeconomics Viewed aga…
Introduction
For some twenty-five years after the end of World War II, the IS-LM model dominated macroeconomics. With the advent of the new classical macroeconomics in the early 1970s, that dominance was at first challenged and then broken. Yet the IS-LM model lives on. While no longer central to the graduate training of most macroeconomists or to cutting-edge macroeconomic research, the IS-LM model continues to be a mainstay of undergraduate textbooks, finds…
Walrasian Economics
Book Review| November 01 2007 Walrasian Economics . By Donald Walker. Cambridge: Cambridge University Press, 2006. 357 pp. $80.00. Michel De Vroey Michel De Vroey Search for other works by this author on: This Site Google History of Political Economy (2007) 39 (4): 747–750. https://doi.org/10.1215/00182702-2007-041 Cite Icon Cite Share Icon Share Facebook Twitter LinkedIn MailTo Permissions Search Site Citation Michel De Vroey; Walrasian Economic…
A Marshall-Walras Divide? A Critical Review of the Prevailing Viewpoints
The aim of this essay is to examine economists' views about the relationship between Marshallian and Walrasian theory. Are they complementary, as is usually believed, or do they constitute alternative research programs? I compare two viewpoints on this matter, the conciliatory and the antagonistic. After describing these, I present my own standpoint: I believe that there is a Marshall–Walras divide, but I have serious objections to the way in whi…
El liberalismo económico y la crisis
En los numerosos debates que evocan el liberalismo económico, éste se presenta como una realidad monolítica; el objetivo de este artículo consiste en poner de manifiesto que distintos grados de liberalismo deben distinguirse: el pleno liberalismo, el liberalismo mitigado y el antiliberalismo mitigado, con subdistinciones al interior de las dos primeras categorías. En la primera parte se recuerdan las características que marcan el liberalismo econ…
Post Walrasian Macroeconomics
Lucas on the Relationship between Theory and Ideology
Lucas on the Relationship between Theory and Ideology
The Causes, Costs and Compensations of Inflation
Lucas on the Relationship between Theory and Ideology
This paper concerns a neglected aspect of Lucas’s work: his methodological writings, published and unpublished. Particular attention is paid to his views on the relationship between theory and ideology. I start by setting out Lucas’s non-standard conception of theory: to him, a theory and a model are the same thing. I also explore the different facets and implications of this conception. In the next two sections, I debate whether Lucas adheres to…
Klein et l’émergence de la modélisation macroéconomique
International audience
A History of Macroeconomics from Keynes to Lucas and Beyond
This book retraces the history of macroeconomics from Keynes's General Theory to the present. Central to it is the contrast between a Keynesian era and a Lucasian - or dynamic stochastic general equilibrium (DSGE) - era, each ruled by distinct methodological standards. In the Keynesian era, the book studies the following theories: Keynesian macroeconomics, monetarism, disequilibrium macroeconomics (Patinkin, Leijongufvud and Clower), non-Walrasia…
Response to the Comments
I thank Jean-Sébastien Lenfant for having set up this symposium on my book on the history of macroeconomics. I enjoyed reading the comments by Fabrice Collard, Pedro Duarte and Francesco Sergi and thank them for taking the time to ponder upon my work. Luckily, their comments happen to be complementary. Sergi sets himself the task of informing the reader of the content of the book. In spite of being a good friend of mine (or because of it), Duarte…
Macroeconomics and the Phillips Curve Myth by James Forder
Over the last few years, James Forder has made a name for himself among historians of economics by writing a series of papers reexamining the Phillips curve literature. The task he sets himself in the present book, entitled Macroeconomics and the Phillips Curve Myth, is to systematize and enrich his earlier contributions. The end result is a brilliant and beautifully written essay, and a stimulating read. Its author’s cleverness shines through on…
Economic Theory and Policy (18 obras) · Economics (16 obras) · Economic Theory and Institutions (13 obras) · Philosophy (13 obras) · Political science (13 obras) · Law (11 obras) · Economic theories and models (9 obras) · Law (9 obras) · Philosophy (9 obras) · Politics (9 obras)