Toward a Macroeconomics of the Medium Run
Bibliographic Data
| ID | 4029707 |
|---|---|
| Authors | Robert M Solow (Massachusetts Institute of Technology, corresponding author) |
| Year | 2000 |
| Volume | 14 |
| Issue | 1 |
| Pages | 151-158 |
| Publication date | 2000-02-01 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | The Journal of Economic Perspectives (JOURNAL) |
| Journal identifiers | ISSN: 0895-3309 • E-ISSN: 1944-7965 |
| Publisher | American Economic Association (PUBLISHER • US) |
| DOI | 10.1257/jep.14.1.151 |
| OpenAlex | W2156722423 |
| Language | EN |
| Citations received | 12 |
| References cited | 7 |
T hese days macroeconomics has become more respectable than it used tobe. I can remember when many economists liked to say: Microeconomicsis not problematic, but I just don’t understand macroeconomics. There was a definite implication that something must be wrong with macroeconomics, not with the observer. Of course macroeconomics cannot be “exact; ” it has to work by rough analogy and empirical compromise. Maybe a certain raffishness is inevitable. Most economists work on microeconomic problems, with increasing use of new microeconomic data. But now it is widely understood that macroeconomics is at the heart of economics; it will not do to be snooty about it. This centrality will continue, for the best possible reason: the need to understand current events, especially unfavorable ones, and to formulate policies—even benign neglect is a policy—to deal with them. For the same reason, the characteristically close connection be-tween macroeconomic theory and empirical work is very unlikely to change. My main goal in this essay is to say something about leftover open questions in macroeconomics, as well as new phenomena that need to be accommodated in early 21st century macroeconomics, and the sorts of ideas that might make progress possible. The occasion and the space available require that I keep to a fairly high level of generality. This is not the time to single out specific research questions: I think there is a need for more investigation of the short-run relation between output and employment, for example, but this is not the occasion to go on about it
Economics · Keynesian economics · Macroeconomics · Monetary economics · Economic Theory and Policy · Fiscal Policies and Political Economy · Monetary Policy and Economic Impact
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Contingent Keynesianism
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Macrodynamics for a Better Society
Financial Fragility, the Minskian Triad, and Economic Dynamics
Super Cycles of Commodity Prices Since the Mid-Nineteenth Century
The medium run effects of educational expansion
The ‘Dark Matter’ in the Search for Sustainable Growth
Finding common ground between ecological economics and post-Keynesian economics
Solow's Struggle with Medium-Run Macroeconomics, 1956-95
A Simple Model of Collective Action
Robert Solow's Non-Walrasian Conception of Economics
| Unique citing works | 12 |
|---|---|
| Citations per year | 0,55 |
| Citation span | 2004 - 2020 (17) |
| Citation velocity | historical |
| Highly cited | No |
| Citation types | Neutral: 12 |