Macroeconomic analysis has undergone profound and controversial changes during the past twenty-five years and, as such, economists have developed and evolved their approaches to the discipline. Reflections on the Development of Modern Macroeconomicspresents a collection of eight original essays, from leading scholars, each of which focuses on an important issue relating to these developments.

These accessible, reflective surveys include:

• to stabilize or not to stabilize: is that the question? Brian Snowdon and Howard Vane
• the rhetoric and methodology of modern macroeconomics Roger Backhouse
• how relevant is Keynesian economics today? Keith Shaw
• what remains of the monetarist counter-revolution? Thomas Mayer
• macroeconomics: before and after rational expectations Patrick Minford
• the ups and downs of modern business cycle theory Cillian Ryan and Andrew Mullineux
• the role of imperfect competition in new Keynesian economics Huw Dixon
• politics and the macroeconomy: endogenous politicians and aggregate instability Brian Snowdon and Howard Vane

This book will attract a wide readership among intermediate undergraduates, as well as postgraduates and lecturers in the fields of macroeconomics and the history of economic thought.