There is a short period, at the eve of the Second World War, where the development of macroeconomic theory pushed imperfect competition to the fore. During this period called by Shackle the ‘years of high theory’, many issues concerning income distribution and the trade cycle were raised....

The canonical history of macroeconomics, one of the rival schools of thought and the great economists, gives Robert Lucas a prominent role in shaping the recent developments in the area. According to it, his followers were initially split into two camps, the "real business cycle" theorists with...

The present study centres on Meade's Simplified Keynesian Model (1937) presented in 1936. The objective of this paper is to show that Meade's model foreshadows the studies (Kalecki (1944), Tobin (1975)) which refute wage rigidity as the benchmark between Keynesian and Classical models. In...

In this short note, we wonder on the opportunity to express Keynes's central message with a static model. Because the phenomena described by Keynes are dynamic, especially the ones described in chapter 19 of the General Theory, we think that they must be analysed with a dynamic model. Deciding...

In a closely argued book, Patinkin [1982] has concluded that Michal Kalecki did not anticipate the General Theory. The three main arguments developed by Patinkin are discussed with reference to his interpretation of Keynes?'s General Theory. Focused on Kalecki?'s 1934, article, that Patinkin did...

Solow has repeatedly called for the development of models that combine equilibrium and out-of equilibrium outcomes or what he called a macroeconomics of the medium-run. This paper recounts the history of Solow’s different attempts to address this issue. It starts in early 1950s when Solow...

Solow has repeatedly called for the development of models that combine equilibrium and out-of equilibrium outcomes or what he called a macro-economics of the medium-run. This paper recounts the history of Solow's different attempts to address this issue. It starts in early 1950s when Solow...