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Revisi per 9 November 2021 05.56

Teori ekonomi makro berasal mula dalam studi siklus bisnis dan teori moneter. Secara umum, teoretikus awal percaya bahwa faktor moneter tidak dapat mempengaruhi faktor riil seperti output riil. John Maynard Keynes menyerang beberapa teori "klasik" ini dan menghasilkan teori umum yang menggambarkan seluruh perekonomian dalam hal agregat daripada individu, bagian ekonomi mikro. Mencoba menjelaskan pengangguran dan resesi, dia memperhatikan kecenderungan orang dan bisnis untuk menimbun uang tunai dan menghindari investasi selama resesi. Dia berargumen bahwa ini membatalkan asumsi ekonom klasik yang berpikir bahwa pasar selalu klir, tidak meninggalkan surplus barang dan tidak ada tenaga kerja yang dibiarkan menganggur.

Generasi ekonom yang mengikuti Keynes mensintesis teorinya dengan mikroekonomi neoklasik untuk membentuk sintesis neoklasik. Meskipun Teori Keynesian awalnya menghilangkan penjelasan tentang tingkat harga dan inflasi, belakangan Keynesian mengadopsi kurva Phillips untuk memodelkan perubahan tingkat harga. Beberapa Keynesian menentang metode sintesis yang menggabungkan teori Keynes dengan sistem ekuilibrium dan malah menganjurkan model ketidakseimbangan. Monetaris, dipimpin oleh Milton Friedman, mengadopsi beberapa ide Keynesian, seperti pentingnya permintaan uang, tetapi berpendapat bahwa Keynesian mengabaikan peran persediaan uang dalam inflasi. Robert Lucas dan para ekonom makro klasik baru lainnya mengkritik model Keynesian yang tidak bekerja di bawah ekspektasi rasional. Lucas juga berargumen bahwa model empiris Keynesian tidak akan stabil seperti model yang didasarkan pada fondasi ekonomi mikro.

Sekolah klasik baru memuncak dalam teori siklus bisnis riil (RBC). Seperti model ekonomi klasik awal, model RBC mengasumsikan bahwa pasar klir dan siklus bisnis didorong oleh perubahan teknologi dan penawaran, bukan permintaan. Keynesian Baru mencoba menjawab banyak kritik yang dilontarkan oleh Lucas dan ekonom klasik baru lainnya terhadap Neo-Keynesian. Keynesian baru mengadopsi ekspektasi rasional dan membangun model dengan fondasi mikro kekakuan harga yang menyarankan resesi masih dapat dijelaskan oleh faktor permintaan karena kekakuan menghentikan harga dari jatuh ke tingkat kliring pasar, meninggalkan surplus barang dan tenaga kerja. Sintesis neoklasik baru menggabungkan elemen-elemen makroekonomi Keynesian klasik dan baru menjadi sebuah konsensus. Ekonom lain menghindari perdebatan Keynesian klasik dan baru tentang dinamika jangka pendek dan mengembangkan teori pertumbuhan baru tentang pertumbuhan ekonomi jangka panjang. Resesi Hebat menyebabkan retrospektif pada keadaan lapangan dan beberapa perhatian populer beralih ke ekonomi heterodoks.

Referensi

Sitiran

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+* {{Cite web|last=Woodford|first=Michael|authorlink=Michael Dean Woodford|date=Juni 1999|title=Revolution and Evolution in Twentieth-Century Macroeconomics|url=http://www.columbia.edu/~mw2230/macro20C.pdf|website=Columbia Education|publisher=U.S. Library of Congress|access-date=9 November 2021}}
+* {{Cite journal|last=Woodford|first=Michael|date=2009|title=Convergence in Macroeconomics: Elements of the New Synthesis|journal=American Economic Journal: Macroeconomics|volume=1|issue=1|pages=267-79|doi=10.1257/mac.1.1.267}}
+* {{Cite news|date=18 Juli 2009|title=What went wrong with economics|url=http://www.economist.com/node/14031376|work=The Economist|publisher=Economics|access-date=9 November 2021}}
+* {{Cite web|last=Wren-Lewis|first=Simon|date=24 February 2012|title=The return of schools of thought in macroeconomics|url=http://voxeu.org/index.php?q=node/7656|website=VoxEU|access-date=9 November 2021}}
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