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Selected Works of Peter Skott
Unpublished Paper
Pluralism, the Lucas critique, and the integration of macro and micro
Economics Department Working Paper Series (2012)
  • Peter Skott, University of Massachusetts - Amherst
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Abstract
Mainstream macroeconomics has pursued micro founded models based on the explicit optimization by representative agents. The result has been a long and wasteful detour. But elements of the Lucas critique are rele- vant, also for heterodox economists.
Keywords
  • micro foundations,
  • pluralism,
  • old Keynesian theory,
  • Kaleck- ian investment function
Disciplines
Publication Date
March 6, 2012
Citation Information
Peter Skott. "Pluralism, the Lucas critique, and the integration of macro and micro" Economics Department Working Paper Series (2012)
Available at: http://works.bepress.com/peter_skott/55/