Edited by Robert W. Dimand and Harald Hagemann
Chapter 74: Robert M. Solow
Solow is mostly credited with having paving the way to neoclassical growth theory in the 1950s. From the start, though, he constantly underlined the need to address Keynesian issues through the development of models connecting the long run and the short run or what he later called a “macroeconomics of the medium-run”. In this chapter, Solow’s various attempts to handle these issues are examined particularly with regard of Keynesian economics in the heyday of neoclassical synthesis in the 1960s, disequilibrium macroeconomics in the 1970s and new Keynesian economics in the 1980s.
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