This 1944 Econometrica paper by Franco Modigliani builds three alternative macrostatic systems of equations -- a Keynesian system and two classical variants -- that share identical saving, investment, …
This paper, written within a year of the publication of Keynes's General Theory, asks how much of Keynes's theory is genuinely new by building a small formal model of the "classical" theory of income …
PublishedClassicJournal of Economic PerspectivesPublished Aug 2006
This 2006 essay by N. Gregory Mankiw argues that macroeconomics has always been pulled between two mindsets -- "engineers" who want to solve practical stabilization problems and "scientists" who want …