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From theory to practice in macroeconomic models: post-Keynesian eclecticism

PSL Quarterly Review

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Title From theory to practice in macroeconomic models: post-Keynesian eclecticism
 
Creator Visco, Ignazio
 
Subject —
Macroeconomic Model, Macroeconomics, Post Keynesian, Supply
E12, E13, E63
 
Description This paper re-examines and discusses the contribution of Franco Modigliani in the construction of macroeconomic models used for prediction and for the development of economic policies. As noted by Paul Samuelson, the theoretical work done by Modigliani was instrumental in the development of the overall framework within which it is matured the " post-Keynesian eclecticism " in the second half of the twentieth century. In the transition from theory to practice are considered two aspects of the work of Modigliani: 1) the systemic approach that focuses on the relationship between the short and long term, and 2) the specific reference to the transmission mechanism of monetary policy in the use of macroeconomic model for policies of economic stabilization. Discuss, finally, briefly what remains today of this contribution, also in connection with some recent proposals on the construction of macroeconomic models.   JEL Codes:  B22; C5; E12; E52Keywords: Modigliani, stabilization policy, post-keynesian eclectism
 
Publisher Economia civile
 
Contributor —
 
Date 2012-04-19
 
Type info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
—
 
Format application/pdf
 
Identifier http://annalidibotanica.uniroma1.it/index.php/PSLQuarterlyReview/article/view/9844
 
Source PSL Quarterly Review; VOL 58, NN. 233-234 (2005)
PSL Quarterly Review; VOL 58, NN. 233-234 (2005)
2037-3643
ISSN 2037-3635
 
Language eng
 
Relation http://annalidibotanica.uniroma1.it/index.php/PSLQuarterlyReview/article/view/9844/9729
 
Rights Copyright (c) 2016 Ignazio Visco
http://creativecommons.org/licenses/by-nc-nd/4.0