nep-hpe New Economics Papers
on History and Philosophy of Economics
Issue of 2006‒01‒01
seven papers chosen by
Andy Denis
City University

  1. Milton Friedman and the Evolution of Macroeconomics By David Laidler
  2. Friedrich August von Hayek (1899-1992)(Second Edition) By Ludwig van den Hauwe
  3. Bringing Macroeconomics into the Lab By Roberto Ricciuti
  4. A Keynesian Model of Unemployment and Growth: Theory By John Cornwall
  5. Sociology and Classical Liberalism By Klein, Daniel; Stern, Lotta
  7. Reduktionismus, interaktionistischer Eigenschafts-Dualismus und Epiphänomenalismus By Helmut Schuster

  1. By: David Laidler (University of Western Ontario)
    Abstract: Milton Friedman's contributions to macroeconomics are evaluated, with particular emphasis given to: the central role played by his work on the consumption function, money and monetary history in undermining "Keynesian" economics; the connection between his treatment of the macro-economy as an essentially dynamic system and his preference for policy rules; and the ambiguity of his views on the potential of the expectations-augmented Phillips curve to become the "missing equation" in his macro-economics. His longer run influence on both the actual conduct of monetary policy and the development of macro-economic theory is also assessed.
    Keywords: Friedman; macroeconomics; money; inflation; monetary policy; consumption; Keynesianism; monetarism
    JEL: B22 E20 E30 E40 E50
    Date: 2005
  2. By: Ludwig van den Hauwe
    Abstract: This paper is the sequel to chapter 30 of the 1999 first edition of The Elgar Companion to Law and Economics (ed. J. Backhaus). A new section has been added entitled 'An application of Hayekian law and economics: the comparative analysis of alternative monetary and banking regimes'.
    Keywords: Hayek, Law and Economics, business cycle theory, monetary and banking regimes, law-based macroeconomics
    JEL: K
    Date: 2005–12–22
  3. By: Roberto Ricciuti
    Abstract: This paper reviews experiments in macroeconomics, pointing out the theoretical justifications, the strengths and weaknesses of this approach. We identify two broad classes of experiments: general equilibrium and partial equilibrium experiments, and emphasize the idea of theory testing that is behind these. A large number of macroeconomic issues have been analyzed in the laboratory spanning from monetary economics to fiscal policy, from international trade and finance, to growth and macroeconomic imperfections. In a large number of cases results give support to the theories tested. We also highlight that experimental macroeconomics has increased the number of tools available to experimentalists.
    Keywords: macroeconomics, experiments.
    JEL: C91 C92 E20 E40
    Date: 2005–12
  4. By: John Cornwall (Department of Economics, Dalhousie University)
    Abstract: The main objective of the paper is to extend the basic model of Keynes's General Theory to explain medium and long-run economic performance in developed capitalist economies. In this way we seek to deepen our understanding of the macro economic processes that account for differences in macro performance over time and between economies at similar stages of their economic development. It naturally starts from a conviction that Keynes's original model of short-run economic fluctuations is the appropriate foundation for further macroeconomic research. In the process of extending the traditional Keynesian model we frequently compare our views with those of the mainstream macroeconomic theory.
    Date: 2005–12–22
  5. By: Klein, Daniel (Department of Economics); Stern, Lotta (Institute for Social Research (SOFI))
    Abstract: We advocate the development of a classical-liberal character within professional sociology. The American Sociological Association (ASA) is taken as representative of professional sociology in the United States. We review the ASA’s activities and organizational statements, to show the association’s leftist character. Internal criticism is often very uneasy about leftist domination of the field. We present survey results establishing that, in voting and in policy views, the ASA membership is mostly left-wing and devoid of classical liberalism. We sketch some ideas showing that sociology needs classical liberalism, and classical liberalism needs sociology.
    Keywords: sociology; American Sociological Association; ideology; policy views; classical liberalism
    JEL: A13 A14
    Date: 2005–12–20
  6. By: Jordi Pons Novell; Daniel A. Tirado Fabregat
    Abstract: This comparative study looks at the international impact of leading economics journals published in Spain, Italy, France and Germany. It also aims to establish whether they play a similar role in any of these 4 countries. For this purpose data were collected on the number of times that articles published in these journals are cited in international journals on the ISI Journals lists. The study focused on the number and characteristics of the citations received during the period 1996-2004 by articles published between 1995 and 1999 in a limited number of Spanish, Italian, French and German journals. The international impact of the Spanish journals was found to be similar in size and characteristics to that of the Italian publications. However, it differed sharply from the impact of the highest-ranking French and German journals. These last received a higher volume of citations, some of which also showed very different qualitative characteristics.
    Date: 2005–12
  7. By: Helmut Schuster (Department of Economics, Johannes Kepler University Linz, Austria)
    Abstract: Im Bezug auf das Verhältnis physischer und mentaler Zustände stehen sich nach wie vor drei Theoriebereiche schroff, scheinbar unvereinbar gegenüber, die Identitätstheorie insbesondere in Form des Reduktionismus, der interaktionistische Eigenschafts-Dualismus und der Epiphänomenalismus ( Vgl. dazu die Zusammenstellung von Artikeln in Geyer,2004, mit Beiträgen von Geyer, Libet, Roth, Singer und anderen ). Gegen jede dieser Theorien kann zu mindestens ein gravierendes, unüberwindbares Gegenargument vorgebracht werden womit auch jede dieser Theorieansätze in Frage gestellt werden kann. Vorliegender Beitrag versteht sich als Versuch durch Einführung neuer Hypothesen den Argumenten gegen diese einzelnen Theorien Rechnung zu tragen, die vorliegenden Theorien zu integrieren und damit zu einer neuen übergreifenden Synthese zu gelangen. Dabei wird interdisziplinär auf Ergebnisse der Philosophie des Geistes, der Psychologie und der Neurowissenschaften zurückgegriffen. Die entscheidende Hypothese, hier bereits vorweggenommen, lautet, dass bestimmte physische Zustände in ihrer Existenz an mentale Zustände gebunden sind und nur mit diesen gekoppelt auftreten können. Da auf dieser Hypothese auch die weiteren Hypothesen aufbauen, scheint es angebracht das im Folgenden entwickelte Theoriengebäude als Kopplungstheorie zu bezeichnen.
    Date: 2005–12

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