The lessons from the current crisis for macro-theory and policy

The Financial Crisis: Origins and Implications

Volumn , Issue , 2010, Pages 12-38

  Arestis, Philip ^a   Karakitsos, Elias ^b  

^a UNIVERSITY OF CAMBRIDGE   (United Kingdom)

^b UNIVERSITY OF CAMBRIDGE   (United Kingdom)

Author keywords

[No Author keywords available]

Indexed keywords

EID: 85003286476     PISSN: None     EISSN: None     Source Type: Book    
DOI: 10.1057/9780230303942     Document Type: Chapter

References (19)

1. Arestis, P. (2007) 'What is the New Consensus in Macroeconomics?', in P. Arestis (ed.), Is There a New Consensus in Macroeconomics? Houndmills, Basingstoke: Palgrave Macmillan.
2. Arestis, P. (2009a) 'New Consensus Macroeconomics and Keynesian Critique', in E. Hein, T. Niechoj and E. Stockhammer (eds), Macroeconomic Policies on Shaky Foundations: Wither Mainstream Macroeconomics? Marburg, Germany: Metropolis-Verlag.
3. Arestis, P. (2009b) 'The New Consensus in Macroeconomics: A Critical Appraisal', in G. Fontana and M. Setterfield (eds), Macroeconomic Theory and Macroeconomic Pedagogy Houndmills, Basingstoke: Palgrave Macmillan.
4. Arestis, P. and Karakitsos, E. (2007) 'Unemployment and the Natural Interest Rate in a Neo-Wicksellian Model', in P. Arestis and J. McCombie (eds), Unemployment: Past and Present. Houndmills, Basingstoke: Palgrave Macmillan.
5. Arestis, P. and Karakitsos, E. (2009) 'Subprime Mortgage Market and Current Financial Crisis', in P. Arestis, P. Mooslechner and K. Wagner (eds), Housing Market Challenges in Europe and the United States. Basingstoke: Palgrave Macmillan.
6. Arestis, P. and Karakitsos, E. (2010) The Post 'Great Recession' US Economy: Implications for Financial Markets and the Economy. Houndmills, Basingstoke: Palgrave Macmillan.
7. Fontana, G. (2006) 'The "New Consensus" View of Monetary Policy: A New Wickselian Connection?', Levy Economics Institute Working Paper No. 476, New York: Levy Economics Institute of Bard College.
8. Goodhart, C.A.E. (2004) 'Review of Interest and Prices by M. Woodford', Journal of Economics, 82(2), 195-200.
9. Goodhart, C.A.E. (2007) 'Whatever Became of the Monetary Aggregates?', The Peston Lecture delivered in honour of Maurice, Lord Peston, Queen Mary, University of London, 28 February.
10. Goodhart, C.A.E. (2008) 'The Continuing Muddles of Monetary Theory: A Steadfast Refusal to Face Facts'. Paper presented to the 12th Conference 'Macroeconomic Policies on Shaky Foundations - Wither Mainstream Economics' of the Research Network, Macroeconomics and Macroeconomic Policies (RMM), 31 October-1 November, 2008.
11. Karakitsos, E. (2008) 'The "New Consensus Macroeconomics" in the Light of the Current Crisis", Ekonomia, 11(2), Winter.
12. Minsky, H.P. (1982) Can 'It' Happen Again? Essays on Instability and Finance.Armonk, NY: M.E. Sharpe.
13. Minsky, H.P. (1986) Stabilizing an Unstable Economy. New Haven, CT: Yale University Press.
14. Rottemberg, J.J. and Woodford, M. (1995) 'Dynamic General Equilibrium Models with Imperfectly Competitive Product Markets', in T.J. Cooley (ed.), Frontiers of Business Cycle Research Princeton, NJ: Princeton University Press, pp. 243-93.
15. Rottemberg, J.J. and Woodford, M. (1997) 'An Optimization-Based Econometric Framework for the Evaluation of Monetary Policy', NBER Macroeconomics Annual 1997. Cambridge, MA: National Bureau of Economic Research, pp. 297-346.
16. Weber, A.A., Wolfgang, L., and Worms, A. (2008) 'How Useful is the Concept of the Natural Real Rate of Interest for Monetary Policy?', Cambridge Journal of Economics, 32(1), 49-64.
17. Wicksell, K. (1898) Geldzins und Güterpreise, Verlag Gustav Fischer: Frankfurt.
18. English translation in R.F. Kahn (1965), Interest and Prices. New York: Kelley.
19. Woodford, M. (2003) Interest and Prices. Princeton, NJ: Princeton University Press.