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| Author: | Woodford, M. |
| Title: | Structural slumps |
| Journal: | Journal of Economic Literature
1994 : DEC, VOL. 32:4, p. 1784-1815 |
| Index terms: | MACROECONOMICS DEVELOPMENT LABOUR MARKETS |
| Language: | eng |
| Abstract: | Many accounts of research in macroeconomics during the past fifteen years describe two important developments - the resurgence of neoclassical analysis under the banner of "real business cycle theory", and a "new Keynesian" literature that has sought to provide rigorous microeconomic foundations for traditional Keynesian (and monetarist) doctrines. such a description of the field often leads to the conclusion that recent academic research has contributed little of importance to the practical analysis of pressing issues of public policy. |
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