In these two volumes, a group of distinguished economists debate the way in which evidence, in particular econometric evidence, can and should be used to relate macroeconomic theories to the real world. Topics covered include the business cycle, monetary policy, economic growth, the impact of new econometric techniques, the IS-LM model, the labor market, new Keynesian macroeconomics, and the use of macroeconomics in official documents.

In these two volumes, a group of distinguished economists debate the way in which evidence, in particular econometric evidence, can and should be used to relate macroeconomic theories to the real world. Topics covered include the business cycle, monetary policy, economic growth, the impact of new econometric techniques, the IS-LM model, the labor market, new Keynesian macroeconomics, and the use of macroeconomics in official documents.

In these two volumes, a group of distinguished economists debate the way in which evidence, in particular econometric evidence, can and should be used to relate macroeconomic theories to the real world. Topics covered include the business cycle, monetary policy, economic growth, the impact of new econometric techniques, the IS-LM model, the labor market, new Keynesian macroeconomics, and the use of macroeconomics in official documents.

In these two volumes, a group of distinguished economists debate the way in which evidence, in particular econometric evidence, can and should be used to relate macroeconomic theories to the real world. Topics covered include the business cycle, monetary policy, economic growth, the impact of new econometric techniques, the IS-LM model, the labor market, new Keynesian macroeconomics, and the use of macroeconomics in official documents.

Recent years have witnessed a dramatic growth in interest in economic methodology. However this work has moved in a number of significantly different directions, and it is not easy to see how several of these might be reconciled. The virtual consensus on some variant of the falsificationism associated with Kuhn, Lakatos and Popper that had emerged by the late 1970s has gone, and has been replaced by a range of more or less exclusive approaches. In New Directions in Economic Methodology, some of the figures most closely associated with the most important of these new approaches provide new and...

Interpreting Macroeconomics explores a variety of different approaches to macroeconomic thought. The book considers a number of historiographical and methodological positions, as well as analyzing various important episodes in the development of macroeconomics, before during and after the Keynesian revolution. Roger Backhouse shows that the full richness of these developments can only by brought out by approaches which blend both relativism and absolutism, and historical and rational reconstructions. Examples discussed include Hobson, Keynes and Friedman.

Interpreting Macroeconomics explores a variety of different approaches to macroeconomic thought. The book considers a number of historiographical and methodological positions, as well as analyzing various important episodes in the development of macroeconomics, before during and after the Keynesian revolution. Roger Backhouse shows that the full richness of these developments can only by brought out by approaches which blend both relativism and absolutism, and historical and rational reconstructions. Examples discussed include Hobson, Keynes and Friedman.

The nature of economic analysis was subject to a profound change in the second half of the 19th-century. The battle of methods (Methodenstreit) in Germany between the pure theory and advocated by Carl Menger and the empirically based historical methods of Gustav Schmoller is well documented, but the equally significant debates in the UK have not been as widely covered. This set charts this transition between classical and neo-classical economics. The collection illustrates the gradual transformation of economics from the fully contextualized political economy of the early classical economists...

Roger Backhouse is a key figure in the field of economic methodology. Explorations in Economic Methodology both clarifies and responds to the issues raised by the literature and argues that methodology is an essential activity. Offering a constructive, but critical, response to the recent literature, this collection provides important new insights for students and researchers in economic methodology and the philosophy of science.

John Maynard Keynes (1883 1946) was the most important economist of the twentieth century. He was also a philosopher who wrote on ethics and the theory of probability and was a central figure in the Bloomsbury Group of writers and artists. In this volume contributors from a wide range of disciplines offer new interpretations of Keynes's thought, explain the links between Keynes's philosophy and his economics, and place his work and Keynesianism - the economic theory, the principles of economic policy, and the political philosophy - in their historical context. Chapter topics include Keynes's...