Friedman's article on Long and Variable Lags seems to be a good place to start- I have yet to meet a Keynesian who did not say that Friedman was right about how long and variable lags prevent fine tuning. Nordhaus's paper on Political Business Cycles would be another place to look- and the more recent PBC stuff by Alesina. The Mankiw-Romer intro to New Keynesian Economics, V1 traces the development of NKE. Mankiw also has an article on the limits of Real Business Cycles (in the JEL?)


DWM PhD


--- On Mon, 5/9/11, James Lacey <[log in to unmask]> wrote:

> From: James Lacey <[log in to unmask]>
> Subject: Re: [SHOE] question posed
> To: [log in to unmask]
> Date: Monday, May 9, 2011, 8:29 AM
> The answer naturally depends on where
> you are starting from, and the
> way you've framed your question, I'd suspect you've never
> taken a
> macroeconomics course.  (Since the topic is typically
> covered in
> undergrad macro.)
> 
> So my first recommendation would be Samuelson's Economics,
> and
> particularly his discussion of the neoclassical
> synthesis.  (Later
> editions are with Nordhaus.)
> 
> The primary source or classic work is Keynes's General
> Theory.
> 
> Jim Lacey
> Franklin Pierce University
> 
> 
> 
> [log in to unmask]
> 
> 
> 
> On Sun, May 8, 2011 at 10:56 PM, Gordon Brady <[log in to unmask]>
> wrote:
> > Dear Sir:
> >
> > I have heard several economists say they
> are part-time Keynesians, part-time
> > Monetarists, and part-time All-Schools-of-Thought. 
> Under what
> > conditions are Keynesian approaches relevant and
> good policy?  What work is
> > good on this?
> >
> >
> >
> > Gordon L. Brady, Ph.D., M.S.L.
> > Senior Economist
> > Joint Tax Committee
> > U.S. Congress
> > 244 Ford House Office Building
> > Washington, DC 20505
> > 202.225.6024
> >
> >
>