Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/149708 
Authors: 
Year of Publication: 
2013
Series/Report no.: 
CHOPE Working Paper No. 2013-17
Publisher: 
Duke University, Center for the History of Political Economy (CHOPE), Durham, NC
Abstract: 
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 developed his long-run growth model and it ends in the mid 1990s with the publication of A Critical Essay on Modern Macroeconomic Theory co-written with Frank Hahn. This narrative involves different economists associated with various research traditions, going from the neo-classical synthesis in the 1960s, the New Classical Economics in the 1970s and the New Keynesianism in the 1980s.
Subjects: 
economic growth
Robert Solow
Medium-Run macroeconomics
dynamics
multiple equilibria
Document Type: 
Working Paper

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