A clear and concise exposition of mainstream macroeconomics from a heterodox perspective.

Table of Contents

• List of Boxes
• List of Diagrams
• List of Abbreviations
• Preface, Preliminaries and Acknowledgements
• 1 Macroeconomy versus Macroeconomics?
• 1.1 Overview
• 1.2 The Short-Run and Long-Run Syndrome and Beyond
• 1.3 From What to How
• 1.4 Further Thoughts and Readings
• 2 Accelerator-Multiplier: Stabbing the Knife-Edge in the Back?
• 2.1 Overview
• 2.2 The Model
• 2.3 The Greater Realism of Eliminating Instability?
• 2.4 Further Thoughts and Readings
• 3 Classical Dichotomies
• 3.1 Overview
• 3.2 Dissecting the Classical Dichotomy
• 3.3 The Short- and Long-Run and Micro and Macro Dichotomies
• 3.4 Further Thoughts and Readings
• 4 Growth Theories: Old, New or More of the Same?
• 4.1 Overview
• 4.2 Old Growth Theory
• 4.3 New Growth Theory for Old?
• 4.4 Growth Econometrics
• 4.5 Further Thoughts and Readings
• 5 The Keynesian Revolutions
• 5.1 Overview
• 5.2 IS/LM as Neoclassical Synthesis
• 5.3 Reappraising or Reducing Keynes?
• 5.4 Further Thoughts and Readings
• 6 Post-Keynesian Dilemmas
• 6.1 Overview
• 6.2 Post-Keynesianisms?
• 6.3 Kaldor–Pasinetti Savings
• 6.4 Post-Keynesianism as Mainstream?
• 6.5 Further Thoughts and Readings
• 7 Keynesian Revolution: What Keynes, What Revolution?
• 7.1 Overview
• 7.2 The Revolution Portrayed or Betrayed?
• 7.3 Further Thoughts and Readings
• 8 From Monetarist Counter-Revolution to Fundamentalism
• 8.1 Overview
• 8.2 From Vertical Phillips Curve …
• 8.3 … to New Classical Economics
• 8.4 From the Not so Sublime to the Even More Ridiculous
• 8.5 Further Thoughts and Readings
• 9 Forging the Consensus: Monetary Policy and Real Business Cycle Theory
• 9.1 Overview
• 9.2 Monetary Policy under the NCE
• 9.3 Real Business Cycle Theory
• 9.4 Further Thoughts and Readings
• Appendix A: Solution and Calibration of a DSGE Model
• 10 From New Classical Fundamentalism to New Nonsensus Macroeconomics
• 10.1 Overview
• 10.2 Consensus is Borne …
• 10.3 … and Shattered?
• 10.4 Further Thoughts and Readings
• Appendix B: Surveying the Fundamentals in the Three-Equation NCM
• 11 International Macro?
• 11.1 Overview
• 11.2 Monetarism and Keynesianism Go International
• 11.3 Phase Diagrams and Stability Analysis
• 11.4 Further Thoughts and Readings
• 12 The Enigmas of Overshooting
• 12.1 Overview
• 12.2 Inflexible Output and Overshooting
• 12.3 Overshooting with Keynesian Features
• 12.4 Further Thoughts and Readings
• Appendix C: Does the Dornbusch Overshooting Model Have Rational Expectations?
• 13 Whither Macroeconomics?
• 13.1 Overview
• 13.2 Further Thoughts and Readings
• References