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Debts and Deficits in Alternative Macroeconomic Models

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Debt, Deficit and Economic Performance

Part of the book series: Central Issues in Contemporary Economic Theory and Policy ((CICETP))

Abstract

Ever since Keynes challenged the classical automaticity approach to macroeconomics, the economics profession has been engaged in a prolonged debate over the appropriate roles of monetary, fiscal, debt and exchange rate policies in economic management. In the two decades following the publication of the General Theory, Keynesian views were predominant in macroeconomic theory and economic policy. Classical views, however, were sustained by the abortive Keynesian prediction of a post-war depression. Control of inflation became a major objective of macroeconomic policy.

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Authors and Affiliations

  1. Columbia University, USA

    Robert A. Mundell

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  1. Robert A. Mundell
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Editors and Affiliations

  1. University of Rome ‘La Sapienza’, Italy

    Mario Baldassarri (Professor of Economics) (Professor of Economics)

  2. Columbia University, New York, USA

    Robert Mundell (Professor of Economics) (Professor of Economics)

  3. McGill University, Montreal, Canada

    John McCallum (Professor of Economics) (Professor of Economics)

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© 1993 SIPI Srl. Rivista di Politica Economica

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Mundell, R.A. (1993). Debts and Deficits in Alternative Macroeconomic Models. In: Baldassarri, M., Mundell, R., McCallum, J. (eds) Debt, Deficit and Economic Performance. Central Issues in Contemporary Economic Theory and Policy. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-22919-2_1

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