Over the last decade, many central banks have adopted polices known as inflation targeting. To prepare intermediate level macroeconomics students to think about current policy issues, it is important to provide them with an introduction to the macroeconomic implications of inflation targeting. Unfortunately, the standard aggregate demandaggregate supply frameworks commonly used to teach interme...

The aim of this paper is to give an account of the unfolding of macroeconomics from Keynes to the present day. To this end, I use a grid of analysis resulting from the combination of two distinctions. The first is the Marshall-Walras divide, the second is the distinction between the Keynesian conceptual apparatus and the Keynesian policy cause. On the basis of these distinctions, I construct tw...

This essay argues that the history of macroeconomics during the twentieth century can be divided into three epochs. Pre-1940: a period of exploration, during which all the right ingredients were developed. But also a period where confusion reigned, because of the lack of an integrated framework. From 1940 to 1980: a period during which an integrated framework was developed—from the IS-LM to dyn...

Climate change and its consequences are the most important issues affecting UK economy over coming century will present a critical challenge for government moving forward. In particular, of getting to net zero by 2050 is going have major ramifications macroeconomy. this commentary, I lay out some work that has been done on implications climate transition Economic activity as currently structure...