NBB: Macroeconomics not to blame for financial turmoil
A paper published by the National Bank of Belgium (NBB) on Thursday takes a look back at some the fundamental theories in macroeconomics that shape monetary policy today and the implications of the recent financial crisis on the social science.
The aim of this paper is to recount the ebbs and flows of Keynesianism over the history of macroeconomics. The bulk of the paper consists of a discussion of the main episodes of the unfolding of macroeconomics. The paper discusses real business cycle
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