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Convergence in Macroeconomics: Elements of the New Synthesis

Convergence in Macroeconomics: Elements of the New Synthesis Abstract While macroeconomics is often thought of as a deeply divided field, with less of a shared core and correspondingly less cumulative progress than other areas of economics, in fact, there are fewer fundamental disagreements among macroeconomists now than in past decades. This is due to important progress in resolving seemingly intractable debates. In this paper, I review some of those debates and outline important elements of the new synthesis in macroeconomic theory. I discusses the extent to which the new developments in theory and research methods are already affecting macroeconomic analysis in policy institutions. (JEL A11 , E00 ) http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png American Economic Journal: Macroeconomics American Economic Association

Convergence in Macroeconomics: Elements of the New Synthesis

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Publisher
American Economic Association
Copyright
Copyright © 2009 by the American Economic Association
Subject
Symposium
ISSN
1945-7715
eISSN
1945-7715
DOI
10.1257/mac.1.1.267
Publisher site
See Article on Publisher Site

Abstract

Abstract While macroeconomics is often thought of as a deeply divided field, with less of a shared core and correspondingly less cumulative progress than other areas of economics, in fact, there are fewer fundamental disagreements among macroeconomists now than in past decades. This is due to important progress in resolving seemingly intractable debates. In this paper, I review some of those debates and outline important elements of the new synthesis in macroeconomic theory. I discusses the extent to which the new developments in theory and research methods are already affecting macroeconomic analysis in policy institutions. (JEL A11 , E00 )

Journal

American Economic Journal: MacroeconomicsAmerican Economic Association

Published: Jan 1, 2009

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