Macroeconomic Theory

    Governments turn to macroeconomic theory to help shape policies to manage instability. Current theories do not adequately support our policy needs. Credit markets, income, and employment are all inherently unstable. We need better theory to help us design better institutions and better policies.

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    Who's talking about getting fiscal?

    What we’re reading: Recent statements from the IMF and the OECD highlight a growing call for new economic policy thinking in response to the specter of long-term stagnation Read more

    Rejoinder to Flassbeck and Lapavitsas

    It is high time to ditch this myth for at least the following five reasons. Read more