Abstract
The critics of the neoclassical-Keynesian synthesis of macroeconomics usually cite a failure of such models to anticipate the great surge of inflation during the 1970s.1
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Notes
L. R. Klein, ‘The Longevity of Economic Theory’, Quantitative Wirtschaftsforschung, ed. H. Albach et al., Tubingen: J.C.B. Mohr, 1977, 411–19. This paper was read to E. Malinvaud’s seminar in Paris, November, 1976.
A. A. Hirsch, ‘Macroeconomic Effects of Price Shocks: A Simulation Study’, Survey of Current Business, 63 (February 1983): 30–43.
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© 1985 George R. Feiwel
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Klein, L.R. (1985). Did Mainstream Econometric Models Fail to Anticipate the Inflationary Surge?. In: Feiwel, G.R. (eds) Issues in Contemporary Macroeconomics and Distribution. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-06879-1_12
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DOI: https://doi.org/10.1007/978-1-349-06879-1_12
Publisher Name: Palgrave Macmillan, London
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