This paper reviews recent developments in macroeconomic theory and considers their relevance for the study of developing countries. Particular emphasis is given to the rational expectations revolution. It is asked whether government policies can be regarded as systematic, and it is suggested that the expectations on which governments' own decisions are based need to be studied. Also discussed are the neo-Ricardian theorem, the implications of real...
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1986/06/30
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Document de travail (série numérotée)
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ERS5
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1
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1
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2012/02/15
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Disclosed
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The relevance for developing countries of recent developments in macroeconomic theory
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