608
Views
2
CrossRef citations to date
0
Altmetric
Content Articles in Economics

Teaching post-intermediate macroeconomics with a dynamic 3-equation model

&

References

  • Arestis, P., and P. Skott. 1993. Conflict, wage determination, and hysteresis in U.K. wage determination. Journal of Post Keynesian Economics 15 (3): 365–86. doi: 10.1080/01603477.1993.11489949.
  • Blanchard, O. 2017. Macroeconomics. 7th ed. London: Pearson.
  • ­———. 2021. Macroeconomics. 8th ed. London: Pearson.
  • Blanchard, O., E. Cerutti, and L. Summers. 2015. Inflation and activity—Two explorations and their monetary policy implications. National Bureau of Economic Research Working Paper No. 21726. Cambridge, MA: NBER.
  • Blanchard, O., G. Dell’Ariccia, and P. Mauro. 2010. Rethinking macroeconomic policy. IMF Staff Position Notes 10 (3): 2–19. doi: 10.5089/9781455224982.004.
  • Carlin, W., and D. Soskice. 2005. The 3-equation New Keynesian model—A graphical exposition. Contributions to Macroeconomics 5 (1): 13.
  • ———. 2006. Macroeconomics: Imperfections, institutions and policies. New York: Oxford University Press.
  • ———. 2014. Macroeconomics: Institutions, instability, and the financial system. New York: Oxford University Press.
  • Chetty, R., J. N. Friedman, N. Hendren, and M. Stepner, and the Opportunity Insights Team. 2020. How did COVID-19 and stabilization policies affect spending and employment? A new real-time economic tracker based on private sector data. National Bureau of Economic Research Working Paper No. 27431. Cambridge, MA: NBER.
  • Colander, D. 2005. What economists teach and what economists do. Journal of Economic Education 36 (3): 249–60. doi: 10.3200/JECE.36.3.249-260.
  • The CORE Team. 2017. The economy. https://www.core-econ.org/the-economy/book/text/0-3-contents.html (accessed August 16, 2022).
  • Cross, R. 1993. Hysteresis and post Keynesian economics. Journal of Post Keynesian Economics 15 (3): 305–8. doi: 10.1080/01603477.1993.11489945.
  • Cynamon, B., and S. Fazzari. 2017. Secular demand stagnation in the 21st century U.S. economy. Paper presented at the INET Secular Stagnation Conference, New York, December 15.
  • DeLong, J. B., and L. Summers. 2012. Fiscal policy in a depressed economy. Brookings Papers on Economic Activity Spring 2012 (1): 233–97. doi: 10.1353/eca.2012.0000.
  • Dutt, A. 1997. Equilibrium, path dependence and hysteresis in Post-Keynesian models. In Markets, unemployment and economic policy, ed. P. Arestis, G. Palma, and M. Sawyer, 238–53. Oxon, UK: Routledge.
  • Fontana, G., and M. Setterfield. 2009. Macroeconomic theory and macroeconomic pedagogy. New York: Springer.
  • Gandolfo, G. 2010. Economic dynamics. 4th ed. New York: Springer.
  • Gordon, R. 2015. Secular stagnation: A supply-side view. American Economic Review 105 (5): 54–59. doi: 10.1257/aer.p20151102.
  • Hoover, K. D. 2011. Applied intermediate macroeconomics. New York: Cambridge University Press.
  • Lavoie, M. 2015. Book review: Carlin, Wendy and David Soskice (2015): Macroeconomics: Institutions, instability, and the financial system, Oxford UK (638 pages, softcover, Oxford University Press, ISBN 978-0-19-965579-3). European Journal of Economics and Economic Policies: Intervention 12 (1): 135–42.
  • Layard, R., and S. Nickell. 1986. Unemployment in Britain. Economica 53 (210): S121–S69. doi: 10.2307/2554377.
  • Michl, T. 2018. Hysteresis in a three-equation model. Eastern Economic Journal 44 (2): 305–22. doi: 10.1057/s41302-016-0083-9.
  • Michl, T., and K. Oliver. 2019. Combating hysteresis with output targeting. Review of Keynesian Economics 7 (1): 6–27. doi: 10.4337/roke.2019.01.02.
  • Pemberton, M., and N. Rau. 2016. Mathematics for economists. 4th ed. Manchester, UK: Manchester University Press.
  • Romer, D. 2000. Keynesian macroeconomics without the LM curve. Journal of Economic Perspectives 14 (2): 149–69. doi: 10.1257/jep.14.2.149.
  • Setterfield, M. 1993. Towards a long-run theory of effective demand: Modeling macroeconomic systems with hysteresis. Journal of Post Keynesian Economics 15 (3): 347–64. doi: 10.1080/01603477.1993.11489948.
  • ———. 2007. Is there a stabilizing role for fiscal policy in the new consensus? Review of Political Economy 19 (3): 405–18. doi: 10.1080/09538250701453105.
  • Shone, R. 2002. Economic dynamics: Phase diagrams and their economic application. 2nd ed. Cambridge, UK: Cambridge University Press.
  • Skott, P. 2005. Fairness as a source of hysteresis in employment and relative wages. Journal of Economic Behavior & Organization 57 (3): 305–31. doi: 10.1016/j.jebo.2003.11.011.
  • ———. 2016. Aggregate demand, functional finance, and secular stagnation. European Journal of Economics and Economic Policies: Intervention 13 (2): 172–88.
  • Stockhammer, E. 2008. Is the NAIRU theory a monetarist. New Keynesian, Post Keynesian or a Marxist Theory? Metroeconomica 59 (3): 479–510.
  • Stockhammer, E. 2011. Wage norms, capital accumulation, and unemployment: A post-Keynesian view. Oxford Review of Economic Policy 27 (2): 295–311. doi: 10.1093/oxrep/grr013.
  • Summers, L. 2015. Demand side secular stagnation. American Economic Review 105 (5): 60–65. doi: 10.1257/aer.p20151103.

Reprints and Corporate Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

To request a reprint or corporate permissions for this article, please click on the relevant link below:

Academic Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

Obtain permissions instantly via Rightslink by clicking on the button below:

If you are unable to obtain permissions via Rightslink, please complete and submit this Permissions form. For more information, please visit our Permissions help page.