Methodological Foundations of Macroeconomics: Keynes and Lucas
by Alessandro Vercelli
Category: Business & Economics

An investigation of the methodological and epistemological foundations of macroeconomic theory. The author compares the two main alternative research programmes in macroeconomics: that outlined by Keynes in his 'General Theory', and that suggested by Lucas, the leader of the new classical economists. He concludes that a Keynesian conception of macroeconomics as a discipline autonomous from microeconomics and open to theoretical and methodological innovation should be defended.