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Lecture Macroeconomics (19/e) - Chapter 19: Current issues in macro theory and policy

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Lecture Macroeconomics (19/e) - Chapter 19: Current issues in macro theory and policy

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After reading this chapter, you should be able to: Describe alternative perspectives on the causes of macroeconomic instability, including the views of mainstream economists, monetarists, real-business-cycle advocates, and proponents of coordination failures; Explain what the equation of exchange is and how it relates to "monetarism"; discuss why new classical economists believe the economy will "self-correct" from aggregate demand and aggregate supply shocks.

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