ABSTRACT

The present macroeconomic crisis has demonstrated that a deeper understanding of the importance of relevant macroeconomic theories and methods is wanting. Additionally, lack of methodological awareness is behind much of the disagreement within macroeconomics which, looked upon from outside, often appears incomprehensible.

The Handbook gives a structured presentation of the study of principles and procedures by which macroeconomics is researched, taught and communicated both within academia and to a wider audience, and why specific theories, research strategies and teaching are preferred. The principles of selecting theory relevant to real-world problems are the core of methodology. This book contains a broad range of arguments behind theory construction and appraisal and the consequences of these choices within the field of macroeconomics.

An international range of experts provide clear analysis of key concepts, ideas and principles to give academics, students and others a better understanding of the macroeconomics behind policy conclusions which are put forward at different levels.

chapter |12 pages

Introduction

The scope and content of the handbook

part I|59 pages

Philosophy of science perspectives

part II|88 pages

Concepts

chapter 7|10 pages

Time in macroeconomics

chapter 9|8 pages

Path dependency

chapter 10|13 pages

Equilibrium

chapter 11|16 pages

Causality and macroeconomics

chapter 13|10 pages

Open and closed systems

chapter 14|7 pages

Money and macroeconomic methodology

part III|88 pages

Schools of thought

part IV|78 pages

Models, econometrics and measurement

chapter 23|10 pages

Explanation and forecasting

chapter 24|14 pages

Using macroeconomic models in policy practice

The relationship between models and reality

chapter 26|12 pages

Macroeconometrics

The cointegrated VAR methodology

part V|22 pages

Communicating macroeconomics

chapter 28|11 pages

The rhetorical perspective on macroeconomics

Macroeconomics is good for making sense of the macroeconomy