Is There a Core of Usable Macroeconomics We Should All Believe In?

Real output in most advanced capitalist economies fluctuates around a rising trend. One can argue about whether it is best to think about that trend as passing through successive cyclical averages, defined in one way or another, or best to think of it as passing through cyclical peaks, or some other...

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Bibliographic Details
Published in:	The American economic review Vol. 87; no. 2; pp. 230 - 232
Main Author:	Solow, Robert M.
Format:	Journal Article
Language:	English
Published:	Menasha, Wis American Economic Association 01-05-1997
Subjects:	Aggregate demand Aggregates Alliances Demand side economics Economic conditions Economic fluctuations Economic models Economic theory Economic trends Expenditures Growth models Hypotheses Is There a Core of Practical Macroeconomics That We Should All Believe? Macroeconomic modeling Macroeconomics Nominations Studies Supply side economics
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Summary:	Real output in most advanced capitalist economies fluctuates around a rising trend. One can argue about whether it is best to think about that trend as passing through successive cyclical averages, defined in one way or another, or best to think of it as passing through cyclical peaks, or some other measure of potential output. The important observation is that, on the whole, the observed fluctuations around trend are contained within a moderately narrow corridor.
Bibliography:	ObjectType-Article-2 SourceType-Scholarly Journals-1 ObjectType-Feature-1 content type line 23
ISSN:	0002-8282 1944-7981