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2011 | nr 7 | 25
Tytuł artykułu

John Maynard Keynes: Is that you knocking on the door?

Treść / Zawartość
Warianty tytułu
Języki publikacji
EN
Abstrakty
EN
This paper provides an overview of the evolution of macroeconomic thought from 1936, the year John Maynard Keynes published his general theory of employment, interest and money to the year 2010. It explores the reasons for the extension of the business cycle during the postwar period. The paper details the decline in the popularity of the Keynesian theory and the return to classical economic principles. The recent crisis necessitates a shift in the way economists understand, theorize, teach and implement macroeconomic policies. The paper suggests some new elements needed in order to mitigate the next inevitable economic and financial crisis.(original abstract)
Rocznik
Numer
Strony
25
Opis fizyczny
Twórcy
  • Poznań University of Economics, Poland
  • The City College of New York, USA
Bibliografia
  • Blinder, Alan. (2010). "Teaching Macro Principles After the Financial Crisis," "Journal of Economic Education", October-December 2010, 385-390.
  • Bludnik, Izabela. (2009). "The New Keynesianism - Proclamation of a Consensus?" Poznan University of Economics Review, Vol. 9 No. 1, 5-24.
  • Crafts, Nicholas & Toniolo, Gianni, (2008). "European Economic Growth, 1950-2005: An Overview," CEPR Discussion Papers 6863, C.E.P.R. Discussion Papers.
  • "Conclusions of the Financial Inquiry Crisis Commission." (2011). Financial Inquiry Crisis Commission. http://fcic-static.law.stanford.edu/cdn_media/fcic-reports/fcic_final_report_conclusions.pdf
  • Economic Report of the President February 2010. Washington: Government Printing Office, 2010. http://www.gpoaccess.gov/eop/2011/pdf/ERP-2011.pdf
  • Eichengreen, Barry. (2007). "The Breakup of the Euro Area. NBER Working Paper, 13393. http://www.nber.org/papers/w13393
  • FCIC Report: http://c0182732.cdn1.cloudfiles.rackspacecloud.com/fcic_final_report_full.pdf
  • Fischer, Stanley, (1980) ed. Rational Expectations and Economic Policy. Chicago: University of Chicago Press.
  • Fogli A. and F. Perri, (2006). "The Great moderation and the US External Imbalances", NBER Working Paper No 12708.
  • Gorynia, Marian, Kowalski, Tadeusz, (2009). "Nauki ekonomiczne a kryzys" [Economics and Economic Crisis]", Studia Ekonomiczne [Economic Studies], no. 3-4 (LXII-LXIII), pp. 213-238.
  • Hennessey, Keith, Douglas Holtz-Eakin, and Bill Thomas. (2011). "Dissenting Statement of Commissioner Keith Hennessey, Commissioner Douglas Hotlz-Eakin, and Vice Chairman Bill Thomas." Financial Inquiry Crisis Commission. http://fcic-static.law.stanford.edu/cdn_media/fcic-reports/fcic_final_report_hennessey_holtz-eakin_thomas_dissent.pdf
  • Keynes, John Maynard. (1936), The General Theory of Employment, Interest and Money, Fellow of the King's College, Cambridge, published by Harcourt, Brace and Company, and printed in the U.S.A. by the Polygraphic Company of America, New York; First Published: Macmillan Cambridge University Press, for Royal Economic Society in 1936.
  • Kowalski, Tadeusz. (1987). Nowa klasyczna makroekonomia a polityka stabilizacji gospodarczej w kapitalizmie [New classical economics and the economic stabilization policy in capitalism], Ruch Prawniczy, Ekonomiczny i Socjologiczny, 1987 (2).
  • Kowalski T. (2001), Proces formułowania oczekiwań a teoria cyklu wyborczego. Implikacje dla polityki gospodarczej [Expectation Formation Process vs. the Theory of Electoral Cycle. Implicationd for Economic Policy], Wydawnictwo Akademii Ekonomicznej w Poznaniu, Poznań.
  • Kowalski, Tadeusz. (2002). "The Simonian Bounded Rationality Hypothesis and the Expectation Formation Mechanism." Poznan University of Economics Review, Vol. 2 No. 1, 5-24.
  • Kurz, Mordecai, Hechui Jin, and Maurizio Motolese. (2005). Determinants of Stock Market Volatility and Risk Premia.'' "Annals of Finance",1.
  • Lucas, Robert E. Jr. (1973). "Econometric Policy Evaluation: A Critique," in: The Philips Curve and the Labor Market, K. Brunner, A.H. Metzler eds., Oxford University Press, Amsterdam.
  • Lucas, Robert E. Jr. (1987) Models of Business Cycles. Oxford: Basil Blackwell.
  • Marglin, Stephen A. and Juliet B. Schor. (1990). The Golden Age of Capitalism: Reinterpreting the Postwar Experience. Oxford: Clarendon Press.
  • Marszałek, P. (2009). Koordynacja polityki pieniężnej i fiskalnej jako przesłanka stabilności cen [Coordination of monetary and fiscal policies as rationale for price stability], WN PWN, Warszawa 2009.
  • Merrouche, Ouarda and Erlend Nier. (2010). "What Caused the Global Financial Crisis?-Evidence on the Drivers of Financial Imbalances 1999-2007." IMF Working Paper, 10/265. http://www.imf.org/external/pubs/ft/wp/2010/wp10265.pdf
  • Muth, John F. (1961). Rational Expectations and the Theory of Price Movements, "Econometrica", July 1961, Vol. 29, 315-335, reprinted in Muth, John F. (1988). "Rational Expectations and the Theory of Price Movements, Neoclassical Microeconomics. Volume 1. pp. 186-206.
  • Polowczyk, Jan (2010). "Elementy ekonomii behawioralnej w dziełach Adama Smitha (Elements of Behavioral Economics in the Work of Adam Smith)" accessed on January 2011 at: http://www.janpolowczyk.pl/publikacje/EKONOMISTA_Polowczyk.pdf
  • Sargent, Thomas J. and Neil Wallace (1973). "The Stability of Models of Money and Growth with Perfect Foresight". "Econometrica" (The Econometric Society) 41 (6): 1043-48.
  • Sargent, Thomas J. (1986). Rational Expectations and Inflation. New York: Harper and Row, 1986.
  • Scheinkman, Jose A., and Wei Xiong. (2005). 'Overconfidence and Speculative Bubbles."Journal of Political Economy", December 2003, 1183-1219.
  • Sheffrin, Steven M. (1996). Rational Expectations. 2d ed. Cambridge: Cambridge University Press, 1996.
  • Simon, Herbert A. (1982) Models of Bounded Rationality, Volumes 1 and 2, Economic Analysis and Public Policy, Cambridge, Mass., MIT Press.
  • US Business Cycle Expansions and Contractions. "The National Bureau of Economic Research". 20 September 2010. http://www.nber.org/cycles/
  • Wallison, Peter J. (2011). "Dissenting Statement." Financial Inquiry Crisis Commission. http://fcic-static.law.stanford.edu/cdn_media/fcic-reports/fcic_final_report_wallison_dissent.pdf
  • Weitzman, Martin L. (2005). A Unified Bayesian Theory of Equity 'Puzzles. Harvard University. <http://econ-www.mit.edu/faculty/download_book.php?id= 74.>
  • Wojtyna, Andrzej (2008). "Współczesna ekonomia - kontynuacja czy poszukiwanie nowego paradygmatu", Ekonomista, no. 1.
Typ dokumentu
Bibliografia
Identyfikatory
Identyfikator YADDA
bwmeta1.element.ekon-element-000171231257

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