Macroeconomic Ideas, Business Cycles and Economic Policies: One Size Doesn’t Fit All - A Primer

178 Pages Posted: 25 Nov 2014 Last revised: 22 Dec 2016

See all articles by Donato Masciandaro

Donato Masciandaro

Bocconi University - Department of Economics; Bocconi University - Department of Economics (ECO)

Date Written: December 21, 2016

Abstract

The lecture notes describe different views in macroeconomics – i.e. how to explain the business cycle and to design economic policy ‐ using a modified workhorse AS AD model, in order to include in the simplest way uncertainty, expectations and the role of banking and finance. The bottom line is to show pedagogically that one size – i.e. a unique economic mainstream – doesn’t fit all – i.e. cannot explain different national and historical business cycles. Therefore it is necessary to know more than one macroeconomic views, and history, politics and empirics matters in disentangling the pros and cons of each of them.

Suggested Citation

Masciandaro, Donato, Macroeconomic Ideas, Business Cycles and Economic Policies: One Size Doesn’t Fit All - A Primer (December 21, 2016). Baffi Center Research Paper Series No. 2014-161, Available at SSRN: https://ssrn.com/abstract=2529980 or http://dx.doi.org/10.2139/ssrn.2529980

Donato Masciandaro (Contact Author)

Bocconi University - Department of Economics ( email )

Via Gobbi 5
Milan, 20136
Italy

Bocconi University - Department of Economics (ECO) ( email )

Via Gobbi 5
Milan, 20136
Italy

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