A SHORT REVIEW OF MACROECONOMICS DEVELOPMENT

Bernal, Humberrto (2007): A SHORT REVIEW OF MACROECONOMICS DEVELOPMENT.

Abstract

Resumen

El objetivo de este documento es entender, clasificar y proporcionar un importante resumen de los rasgos fundamentales de la macroeconomía con fundamentos microeconómicos y la macroeconomía como soporte de la microeconomía. Este documento puede ser interesante para aquellos que desean entender como estas dos escuelas macroeconómicas se han desarrollado. Macroeconomía con fundamento microeconómicos presenta cuatro ramas: la Síntesis Neoclásica, Monetaristas, Nuevos Clásicos y Real Business, mientras la macroeconomía como soporte de la microeconomía solo presenta la rama de los Nuevos Keynesianos. Aunque estas escuelas tienen sus ideas particulares, cada rama las usa con diferentes propósitos. Aunque el desarrollo del pensamiento macroeconómico ha mostrado diferentes puntos de vista que han generado debate dentro del campo, los economistas, con el tiempo, han tomado en cuenta estas diferencias para generar nuevas ideas. Por ejemplo, actualmente la mayoría de los economistas han escrito economía aplicada y teórica teniendo en cuenta la noción de equilibrio y fallas del mercado.

Abstract The aim of this paper is to understand, classify and thus provide an important summary of fundamental features of Macroeconomics with microeconomics backgrounds and Macroeconomics as a background of microeconomics. It could be particularly interesting for those who wish to understand how these two macroeconomics schools of thought have developed. Macroeconomics with microeconomics backgrounds has four branches: Neoclassical Synthesis, Monetarist, New Classical and Real Business, whereas Macroeconomics as a background of microeconomics just has the New Keynesians branch. Even though these schools have their own particular ideas, each branch uses them for a different purpose. Although the development of macroeconomic thought has shown different views what have arisen interesting debates in economic field, economists have taken into account these different views to come up with new ideas throughout time. For instance, now days most economists have written applied and theory work bearing in mind equilibriums and fails of the market.

JEL- Classification: B22 , B23, N1

• Item Type: MPRA Paper
• Language: English
• Keywords: Macroeconomics, Macroeconomics schools of thought, Microeconomics, Expectations
• Subjects: N - Economic History > N1 - Macroeconomics and Monetary Economics ; Industrial Structure ; Growth ; Fluctuations; B - History of Economic Thought, Methodology, and Heterodox Approaches > B2 - History of Economic Thought since 1925 > B23 - Econometrics ; Quantitative and Mathematical Studies; B - History of Economic Thought, Methodology, and Heterodox Approaches > B2 - History of Economic Thought since 1925 > B22 - Macroeconomics

References

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