Recent Developments in Macroeconomics: a Very Quick Refresher Course

30 Pages Posted: 6 Apr 2007 Last revised: 7 Oct 2022

See all articles by N. Gregory Mankiw

N. Gregory Mankiw

Harvard University - Department of Economics; National Bureau of Economic Research (NBER)

Date Written: December 1987

Abstract

This paper outlines the major developments in macroeconomics over the past two decades. It examines the reasons for the breakdown in the consensus view of the 1960s and how this breakdown has guided research in macroeconomics. The introduction and importance of "rational expectations" are discussed, as are recent advances within the new classical and new Keynesian paradigms.

Suggested Citation

Mankiw, N. Gregory, Recent Developments in Macroeconomics: a Very Quick Refresher Course (December 1987). NBER Working Paper No. w2474, Available at SSRN: https://ssrn.com/abstract=978410

N. Gregory Mankiw (Contact Author)

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