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  5. Riddles and Models: A Review Essay on Michel De Vroey's A History of Macroeconomics from Keynes to Lucas and Beyond

Journal of Economic Literature

ISSN 0022-0515 (Print) | ISSN 2328-8175 (Online)

Riddles and Models: A Review Essay on Michel De Vroey's A History of Macroeconomics from Keynes to Lucas and Beyond

  • Costas Azariadis
Journal of Economic Literature
vol. 56, no. 4, December 2018
(pp. 1538–76)
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Abstract

This essay reviews Michel De Vroey's important new book on the history of macroeconomics, which extends to business cycles an earlier book by the same author on the history of involuntary unemployment. The review also offers a broader nontechnical survey of the issues and models that make up modern macroeconomics, including a reckoning of what we have learned since John Maynard Keynes and of the discoveries that still lie ahead.

Citation

Azariadis, Costas. 2018. "Riddles and Models: A Review Essay on Michel De Vroey's A History of Macroeconomics from Keynes to Lucas and Beyond." Journal of Economic Literature, 56 (4): 1538–76. DOI: 10.1257/jel.20181439

Additional Materials

JEL Classification

  • B22 History of Economic Thought: Macroeconomics
  • B41 Economic Methodology
  • E12 General Aggregative Models: Keynes; Keynesian; Post-Keynesian
  • E13 General Aggregative Models: Neoclassical
  • E32 Business Fluctuations; Cycles