"Macroeconomics can be broadly divided into two schools of thoughts: neoclassical economics and Keynesian economics." Such is how an introductory chapter begins in a typical macroeconomics textbook ...

Discover how competitive equilibrium balances supply and demand in markets, maximizing economic efficiency for profit-driven producers and value-seeking consumers.

Learn how overshooting impacts exchange rate volatility and why Dornbusch’s model is pivotal in explaining the short-term departure from price equilibrium.

Current issues are now on the Chicago Journals website. Read the latest issue.One of the oldest and most prestigious journals in economics, the Journal of Political Economy (JPE) presents significant ...

Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Three years ago, Free Lunch published a week-long series of articles on the Rebuilding Macroeconomic Theory ...

The American Journal of Economics and Sociology, Vol. 59, No. 2 (Apr., 2000), pp. 315-333 (19 pages) Using a general equilibrium model that is completely free of macroeconomic aggregates, this paper ...

I rather agree with the conclusion here, that macroeconomics is dead. But I distinctly disagree with the reasons used to reach the conclusion, that there is no invisible hand. One of the best-kept ...

Economics is split between analysis of how the overall economy works and how single markets function Physicists look at the big world of planets, stars, galaxies, and gravity. But they also study the ...

PHYSICISTS look at the big world of planets, stars, galaxies, and gravity. But they also study the minute world of atoms and the tiny particles that comprise those atoms. Economists also look at two ...

John Maynard Keynes’ book The General Theory of Interest, Employment, and Money is one of the classic works of the twentieth century. Keynes published his book in 1936 during the midst of the Great ...