Economics Dictionary of Arguments

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Macroeconomics: Macroeconomics is the study of the economy as a whole, focusing on factors like inflation, unemployment, economic growth, and government policies' impact on them. It examines how households, businesses, and governments interact to shape the broader economic environment. See also Economy, Inflation, Economic growth.
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Annotation: The above characterizations of concepts are neither definitions nor exhausting presentations of problems related to them. Instead, they are intended to give a short introduction to the contributions below. – Lexicon of Arguments.

 
Author Concept Summary/Quotes Sources

Keynesianism on Macroeconomics - Dictionary of Arguments

Mause I 58
Macroeconomics/Keynesianism/VsLucas/VsMuth: In the mid-1980s, the New Keynesian Macroeconomics emerged as a reaction to the inability of the New Classical Macroeconomics to deal sensibly with macroeconomic problems.
>Keynesianism
, >Neoclassical economics, >John F. Muth, >Robert E. Lucas.
New: Task of the equilibrium hypothesis.
>Equilibrium, >Equilibrium theory.
Market imperfections or market imbalances are expressly taken into account and are micro-economically explained. Three approaches:
1. Theories based on real price rigidities;
2. Theories investigating nominal price rigidities
3. Theories dealing with a possible failure of decentralized coordination.
>Markets.
Mause I 70
Macroeconomics/Keynesianism/Post-Keynesianism: Although the New Keynesian Macroeconomics takes up certain elements of Post-Keynesianism (e.g. the assumption of the imperfection of markets), it adheres to the neoclassical paradigm in other respects so that one can by no means speak of a replacement of Post-Keynesianism by the New Classical Macroeconomy.

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Explanation of symbols: Roman numerals indicate the source, arabic numerals indicate the page number. The corresponding books are indicated on the right hand side. ((s)…): Comment by the sender of the contribution. Translations: Dictionary of Arguments
The note [Concept/Author], [Author1]Vs[Author2] or [Author]Vs[term] resp. "problem:"/"solution:", "old:"/"new:" and "thesis:" is an addition from the Dictionary of Arguments. If a German edition is specified, the page numbers refer to this edition.
Keynesianism
Mause I
Karsten Mause
Christian Müller
Klaus Schubert,
Politik und Wirtschaft: Ein integratives Kompendium Wiesbaden 2018


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