Review:
-- Paul A. Samuelson, Professor of Economics, M.I.T. -- Paul M. Romer, Professor of Economics, University of California at Berkeley " Like the great debate between Einstein and Bohr on quantum physics, the debate between Hahn-Solow and Lucas's rational expectationism is a must for all serious students of macro. This is how scientific progress should be done -- by sober analysis rather than clever rhetoric or frenzied ideology." -- Paul A. Samuelson, Professor of Economics, M.I.T. " Professors Hahn and Solow pick up the simple general equilibrium models of new classical macroeconomics and run with them. Of course, they head off in directions that are theirs alone. Critics of these models, and enthusiasts, will want to read this book and see how far they get." -- Paul M. Romer, Professor of Economics, University of California at Berkeley & quot; Like the great debate between Einstein and Bohr on quantum physics, the debate between Hahn-Solow and Lucas's rational expectationism is a must for all serious students of macro. This is how scientific progress should be done -- by sober analysis rather than clever rhetoric or frenzied ideology.& quot; -- Paul A. Samuelson, Professor of Economics, M.I.T. & quot; Professors Hahn and Solow pick up the simple general equilibrium models of new classical macroeconomics and run with them. Of course, they head off in directions that are theirs alone. Critics of these models, and enthusiasts, will want to read this book and see how far they get.& quot; -- Paul M. Romer, Professor of Economics, University of California at Berkeley "Like the great debate between Einstein and Bohr on quantum physics, the debate between Hahn-Solow and Lucas's rational expectationism is a must for all serious students of macro. This is how scientific progress should be done--by sober analysis rather than clever rhetoric or frenzied ideology."--Paul A. Samuelson, Professor of Economics, M.I.T. "Professors Hahn and Solow pick up the simple general equilibrium models of new classical macroeconomics and run with them. Of course, they head off in directions that are theirs alone. Critics of these models, and enthusiasts, will want to read this book and see how far they get."--Paul M. Romer, Professor of Economics, University of California at Berkeley
Synopsis:
The authors disagree with the trend toward new classical economics, demonstrate where the new classical view of macroeconomics is wrong, and show how to go about doing macroeconomics the right way. After an explanation of microeconomic foundations, they introduce the basic elements for a revised macroeconomic model and discuss its applicability to
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