mainly macro - Robuta Search

https://mainlymacro.blogspot.com/2012/05/dangerous-voices-and-macroeconomic-spin.html mainly macro: Dangerous Voices and Macroeconomic Spin Dangerous voices are what the British Prime Minister called those who criticised austerity in a speech on Thursday. In re... mainly macro dangerous voices macroeconomic spin https://mainlymacro.blogspot.com/2014/12/the-eurozone-scandal.html mainly macro: The Eurozone Scandal Imagine that it was revealed that 10% of the European Union budget (the money that goes to the EU centre to fund the common agricultural po... mainly macro eurozone scandal https://mainlymacro.blogspot.com/2014/06/?m=0 mainly macro: June 2014 Comment on macroeconomic issues mainly macro june https://mainlymacro.blogspot.com/2013/07/the-two-arguments-why-zero-lower-bound.html?m=0 mainly macro: The two arguments why the Zero Lower Bound matters I think it is important to distinguish between two arguments why the Zero Lower Bound (ZLB) for nominal interest rates matters. I will labe... mainly macro the two lower bound arguments zero https://mainlymacro.blogspot.com/2017/12/first-stage-reality-and-brexiters.html mainly macro: First Stage Reality and Brexiters Now for the hard part, pronounced various media commentators after the first stage Brexit deal had been signed. The chances of No Deal have... mainly macro first stage reality https://mainlymacro.blogspot.com/2015/12/the-ftpl-version-of-neo-fisherian.html?m=1 mainly macro: The FTPL version of the Neo-Fisherian proposition Probably for macroeconomists The Neo-Fisherian doctrine is the idea that a permanent increase in a flat nominal interest rate path will... mainly macro version neo proposition https://mainlymacro.blogspot.com/2014/06/triangulation-miliband-and-inequality.html mainly macro: Triangulation, Miliband and Inequality This starts off with some rather specific politics, but we get back to some economics at the end. This post is prompted by an article ... mainly macro triangulation miliband inequality https://mainlymacro.blogspot.com/2018/02/academic-knowledge-about-economic.html mainly macro: Academic knowledge about economic policy is not just another opinion Does the financial crisis reveal that economists are at the leeches and mercury stage of their subject, and as a result policy makers and ... mainly macro academic knowledge economic policy https://mainlymacro.blogspot.com/2012/08/multiplier-theory-one-is-magic-number.html mainly macro: Multiplier theory: one is the magic number I have written a bit about multipliers, particularly of the balanced budget kind, but judging by comments some recap and elaboration may b... mainly macro the magic multiplier theory one https://mainlymacro.blogspot.com/2017/04/economics-is-inexact-science.html mainly macro: Economics is an inexact science When I wrote about why the BBC should treat a clear consensus in economics the same way as it now treated climate science, I got a number o... mainly macro economics inexact science https://mainlymacro.blogspot.com/2017/01/reactionary-keynesian-revisited.html?m=0 mainly macro: Reactionary Keynesianism revisited I wrote my original post on this to counter the idea that the size of any increase in the deficit was at least as important as its composi... mainly macro reactionary keynesianism revisited https://mainlymacro.blogspot.com/2016/08/mutually-assured-destruction.html mainly macro: Mutually Assured Destruction When I called half a year ago the minority of MPs and associated journalists that was trying, and had tried from day 1, to openly undermin... mainly macro mutually assured destruction https://mainlymacro.blogspot.com/2016/04/the-hypocrisy-of-british-politics.html?m=1 mainly macro: The hypocrisy of British politics The Labour party has a problem with antisemitism almost by definition. This is because many Labour party members are highly critical of the... mainly macro hypocrisy british politics https://mainlymacro.blogspot.com/2018/03/budget-deficits-fiscal-councils-and.html?m=1 mainly macro: Budget deficits, fiscal councils and authoritarian regimes Budget deficits are a constant temptation for politicians. If you want to cut some taxes it is politically easier to do this by borrowing ... mainly macro budget deficits fiscal councils authoritarian https://mainlymacro.blogspot.com/2023/08/?m=1 mainly macro: August 2023 Comment on macroeconomic issues mainly macro august https://mainlymacro.blogspot.com/2012/07/private-investment-public-investment.html?m=0 mainly macro: Private investment, public investment and the private finance of public investment When the UK government announced its austerity programme in 2010, it believed that private investment would help fill the ... mainly macro private investment and the public finance https://mainlymacro.blogspot.com/2016/09/ mainly macro: September 2016 Comment on macroeconomic issues mainly macro september https://mainlymacro.blogspot.com/2017/02/stories-mps-tell.html mainly macro: Stories MPs tell It is not true to say that the UK holds a referendum only when a big constitutional decision has to be made. We hold a referendum when the ... mainly macro stories mps tell https://mainlymacro.blogspot.com/2017/08/how-brexit-will-constrain-future-labour.html mainly macro: How Brexit will constrain a future Labour government Those who suggest that Brexit is of second order importance to getting a Labour government need to think about what that government will b... mainly macro brexit constrain future labour https://mainlymacro.blogspot.com/2019/11/libdem-fantasies-about-december-election.html?m=0 mainly macro: LibDem fantasies about the December election There is one fact that too many people are currently in denial about. If Labour stay roughly where they are in the opinion polls then John... mainly macro about the libdem fantasies december https://mainlymacro.blogspot.com/2023/06/wishful-thinking-on-uk-inflation.html?m=0 mainly macro: Wishful thinking on UK inflation I have been surprised by the extent and persistence of UK inflation over the last few months, along with many others. So what did I get wr... mainly macro wishful thinking uk inflation https://mainlymacro.blogspot.com/2014/08/balanced-budget-fundamentalism.html?m=0 mainly macro: Balanced-budget fundamentalism Europeans, and particularly the European elite, find popular attitudes to science among many across the Atlantic both amusing and distress... mainly macro balanced budget fundamentalism https://mainlymacro.blogspot.com/2017/12/the-political-consequences-of-brexit.html mainly macro: The political consequences of Brexit Transition Jacob Rees-Mogg is apparently the bookies favourite to succeed Theresa May. It is the same Rees-Mogg who has declared the UK would become a... mainly macro the political consequences brexit transition https://mainlymacro.blogspot.com/2014/06/fiscal-rules-politics-and-economics.html?m=0 mainly macro: Fiscal rules: politics and economics Jonathan Portes and I have an article in Prospect, which is a short summary of our discussion paper on fiscal rules (see here or here ). ... mainly macro fiscal rules politics economics https://mainlymacro.blogspot.com/2012/07/kill-money-multiplier.html mainly macro: Kill the Money Multiplier! For students, and anyone who still teaches this Nick Rowe is exasperated at how some bloggers think all mainstream macroeconomists b... mainly macro the money kill multiplier https://mainlymacro.blogspot.com/2015/02/asymmetries-and-uncertainties.html?m=0 mainly macro: Asymmetries and Uncertainties This post starts off talking about the UK, but goes on to make more general points about why we may have wasted resources on a huge scale o... mainly macro uncertainties https://mainlymacro.blogspot.com/2015/07/why-germany-wants-rid-of-greece.html mainly macro: Why Germany wants rid of Greece When I recently visited Berlin, it quickly became clear the extent to which Germany had created a fantasy story about Greece. It was an ima... mainly macro why germany wants rid greece https://mainlymacro.blogspot.com/2023/11/fiscal-failures-uk-autumn-statement-and.html mainly macro: Fiscal failures: The UK Autumn Statement and the German debt brake Many people fear debt, because they worry about the consequences of not being able to pay the interest on it, or pay it back. However it i... mainly macro the uk https://mainlymacro.blogspot.com/2012/10/what-do-people-mean-by-helicopter-money.html mainly macro: What do people mean by helicopter money? Following a speech by one of the front runners to replace Mervyn King as Governor of the Bank of England, there has been renewed talk ab... mainly macro what do people mean helicopter https://mainlymacro.blogspot.com/2015/02/saying-obvious.html mainly macro: Saying the obvious Give any student who has just done a year of economics some national accounts data for the US, UK and Eurozone, and ask them why the recove... mainly macro saying obvious https://mainlymacro.blogspot.com/2015/02/helicopter-money-and-government-of.html mainly macro: Helicopter money and the government of central bank nightmares If Quantitative Easing (QE), why not helicopter money? We know helicopter money is much more effective at stimulating demand. Helicopter mo... mainly macro helicopter money and the central bank https://mainlymacro.blogspot.com/2013/03/the-power-of-austerity-over-politicians.html mainly macro: The Power of Austerity over Politicians In an earlier post , I reported some speculation by Coen Teulings on why politicians seem to ignore the majority of economists when it come... the power of mainly macro austerity politicians https://mainlymacro.blogspot.com/2012/03/fiscal-policy-heroes.html mainly macro: Fiscal policy heroes Have you ever wondered why anyone becomes a football (soccer) referee? You are almost certain to be hated by one team and it... mainly macro fiscal policy heroes https://mainlymacro.blogspot.com/2012/11/being-rude-about-austerity.html mainly macro: Being rude about austerity How rude should I be about policymakers? Some may think this a strange question, but I personally have quite a high regard for them. Havin... mainly macro rude austerity https://mainlymacro.blogspot.com/2018/06/a-new-mandate-for-monetary-policy.html mainly macro: A new mandate for monetary policy John McDonnell wants to raise UK investment not by cutting corporation tax but by diverting funds from parts of the financial sector away... mainly macro new mandate monetary policy https://mainlymacro.blogspot.com/2014/09/that-referendum-was-fun-shall-we-do-it.html mainly macro: That referendum was fun. Shall we do it again? Whether the UK as a whole gets to choose whether to have a referendum on continuing membership of the European Union depends on the result ... mainly macro shall we do it referendum https://mainlymacro.blogspot.com/2014/06/the-imf-apology-nonsense-how-to.html?m=1 mainly macro: The IMF apology nonsense: how to maintain a lie When the current government took over in 2010, the UK economy had begun to recover from the Great Recession. In 2010 Q2, real GDP was about... how to maintain mainly macro imf apology https://mainlymacro.blogspot.com/2023/04/ mainly macro: April 2023 Comment on macroeconomic issues mainly macro april https://mainlymacro.blogspot.com/2016/08/?m=0 mainly macro: August 2016 Comment on macroeconomic issues mainly macro august https://mainlymacro.blogspot.com/2014/09/david-cameron-from-wikipedia-2100.html?m=1 mainly macro: David Cameron (from Wikipedia 2100) Prime Minister of UK (including Scotland until 2014) from 2010 to 2017. Widely seen as the catalyst behind the renewed decline of the UK, a... mainly macro david cameron from wikipedia https://mainlymacro.blogspot.com/2012/03/fiscal-policy-heroes.html?m=0 mainly macro: Fiscal policy heroes Have you ever wondered why anyone becomes a football (soccer) referee? You are almost certain to be hated by one team and it... mainly macro fiscal policy heroes https://mainlymacro.blogspot.com/2018/08/what-becomes-news-and-why.html mainly macro: What becomes news and why One of the unfortunate things that some Remain supporters can do is treat anyone who voted Leave as stupid. How could you vote for such an... mainly macro news and becomes https://mainlymacro.blogspot.com/2019/08/how-should-academic-economics-cope-with.html?m=1 mainly macro: How should academic economics cope with ideological bias This question was prompted by this study by Mohsen Javdani and Ha-Joon Chang, which tries to show two things: mainstream economists are... mainly macro academic economics cope ideological https://mainlymacro.blogspot.com/2016/02/sanders-versus-clinton-lessons-from-uk.html mainly macro: Sanders versus Clinton: lessons from the UK The Sanders campaign, and reactions to it, continue to remind me of our similar experience in the UK. As I have already suggested , the com... mainly macro from the sanders versus clinton https://mainlymacro.blogspot.com/2015/02/on-not-being-politically-partisan.html?m=0 mainly macro: On not being politically partisan This may seem a little introspective, but there are some general points here about how economists deal with the political implications of w... mainly macro politically partisan https://mainlymacro.blogspot.com/2022/12/the-political-moral-and-intellectual.html?m=0 mainly macro: The political, moral and intellectual bankruptcy of the current Conservative party The UK is currently suffering a level of strike action not seen for decades. There is a simple reason for most of that - it is government ... mainly macro the political https://mainlymacro.blogspot.com/2021/12/the-ego-libertarian-party.html?m=0 mainly macro: The Ego-libertarian party It is easy to argue against measures designed to stop the spread of the Omicron COVID variant before it has become dominant, as 100 Tory M... mainly macro the ego libertarian party https://mainlymacro.blogspot.com/2022/01/ mainly macro: January 2022 Comment on macroeconomic issues mainly macro january https://mainlymacro.blogspot.com/2012/03/uk-budget-and-political-dangers-of.html mainly macro: The UK Budget and the Political Dangers of Inequality The symbolic centre piece of the UK budget was cutting the top rate of income tax. There has been and will be plenty writte... mainly macro the uk budget political dangers https://mainlymacro.blogspot.com/2018/02/uk-productivity-too-soon-to-get-excited.html mainly macro: UK productivity: too soon to get excited And why the costs of austerity and Brexit may be bigger than we imagined UK productivity per hour increased by 0.9% in 2017Q3, and i... mainly macro too soon uk productivity get https://mainlymacro.blogspot.com/2014/03/?m=0 mainly macro: March 2014 Comment on macroeconomic issues mainly macro march https://mainlymacro.blogspot.com/2018/08/conservative-zugzwang-redux.html mainly macro: Conservative Zugzwang Redux After the 2017 General Election, I wrote a post about how, whatever the Conservatives did next, they would make their position worse (a s... mainly macro conservative zugzwang redux https://mainlymacro.blogspot.com/2016/08/mutually-assured-destruction.html?m=0 mainly macro: Mutually Assured Destruction When I called half a year ago the minority of MPs and associated journalists that was trying, and had tried from day 1, to openly undermin... mainly macro mutually assured destruction https://mainlymacro.blogspot.com/2024/06/ mainly macro: June 2024 Comment on macroeconomic issues mainly macro june https://mainlymacro.blogspot.com/2017/04/economists-as-medics.html?m=0 mainly macro: Economists as medics I got some stick on twitter the other day for my ( longstanding ) view that economics is in many respects like medicine. It is of course no... mainly macro economists medics https://mainlymacro.blogspot.com/2012/10/a-political-economy-argument-for.html?m=0 mainly macro: A political economy argument for economic policy delegation In a previous post I talked about an example of the pernicious impact that politics can have on academic economists, and promised to writ... mainly macro political economy economic policy argument delegation https://mainlymacro.blogspot.com/2015/03/austerity-nick-rowes-not-so-silly.html mainly macro: Austerity: Nick Rowe's not so silly question Nick Rowe has a silly question for those who oppose austerity. Actually he really means it is a question involving silly numbers: would yo... mainly macro nick rowe austerity silly question https://mainlymacro.blogspot.com/2015/09/labour-and-central-bank-independence.html mainly macro: Labour and Central Bank Independence Sometimes Paul Krugman can be very annoying. On a number of occasions I have written a draft of a post, and while in the process of admirin... mainly macro central bank labour independence https://mainlymacro.blogspot.com/2020/11/how-governments-in-west-failed-to-learn.html?m=1 mainly macro: How governments in the West failed to learn You would think, after so many countries were taken by surprise by a pandemic caused by a new virus in the Spring of this year, these coun... in the west mainly macro governments failed learn https://mainlymacro.blogspot.com/2024/02/detoxifying-government-debt-part-1-debt.html mainly macro: Detoxifying government debt, part 1. Debt is also an asset Perhaps Labour scaling back its proposed green investment is just a pre-election ploy, and will have no implications for what they do in g... mainly macro government debt detoxifying https://mainlymacro.blogspot.com/2015/12/using-economic-statistics-in-impartial.html mainly macro: Using economic statistics in an impartial and informed way The BBC Trust is conducting a review on this issue, and has put out a public call for evidence. I thought I might reproduce my own evidence... mainly macro economic statistics using https://mainlymacro.blogspot.com/2022/09/how-to-judge-fiscal-policy-in-time-of.html mainly macro: How to judge fiscal policy in the time of Truss As expected , Truss has announced a freeze in energy prices. That means that inflation will not be as high as some recent forecasts, the c... mainly macro how to fiscal policy https://mainlymacro.blogspot.com/2020/ mainly macro: 2020 Comment on macroeconomic issues mainly macro https://mainlymacro.blogspot.com/2012/?m=0 mainly macro: 2012 Comment on macroeconomic issues mainly macro https://mainlymacro.blogspot.com/2012/04/financial-market-as-vengeful-god.html mainly macro: The Financial Market as a Vengeful God Reading this Jonathan Portes post , I recalled a point in my undergraduate lectures where I have a little fun at the expense... mainly macro the financial market vengeful god https://mainlymacro.blogspot.com/2012/08/the-pernicious-politics-of-immigration.html mainly macro: The pernicious politics of immigration There can be a rational debate about the costs and benefits of immigration, and what that implies about immigration controls. And there ca... mainly macro pernicious politics immigration https://mainlymacro.blogspot.com/2016/09/paul-romer-on-macroeconomics.html mainly macro: Paul Romer on macroeconomics It is a great irony that the microfoundations project, which was meant to make macro just another application of microeconomics, has left m... mainly macro paul romer macroeconomics https://mainlymacro.blogspot.com/2013/10/microfoundations-and-macro-wars.html mainly macro: Microfoundations and Macro Wars There have been two strands of reaction to my last post . One has been to interpret it as yet another salvo in the macro wars. The second ... mainly macro microfoundations wars https://mainlymacro.blogspot.com/2025/12/?m=0 mainly macro: December 2025 Comment on macroeconomic issues mainly macro december https://mainlymacro.blogspot.com/2013/12/some-notes-on-uk-recovery.html mainly macro: Some notes on the UK recovery The latest national accounts data we have is for 2013 Q3. Between 2012Q4 and 2013Q3 real GDP increased by 2.1% (actual, not annual rate). ... mainly macro some notes on the uk recovery https://mainlymacro.blogspot.com/2012/06/?m=0 mainly macro: June 2012 Comment on macroeconomic issues mainly macro june https://mainlymacro.blogspot.com/2014/05/?m=0 mainly macro: May 2014 Comment on macroeconomic issues mainly macro may https://mainlymacro.blogspot.com/2017/07/why-german-wages-need-to-rise.html?m=0 mainly macro: Why German wages need to rise An interesting disagreement occurred this week between Martin Sandbu and the Economist, which prompted a subsequent letter from Philippe ... mainly macro german wages need rise https://mainlymacro.blogspot.com/2017/11/austerity-and-mortality.html mainly macro: Austerity and mortality In a footnote in a recent post , I noted the recent controversy over a BMJ paper relating changes in the English mortality trend to auster... mainly macro austerity mortality https://mainlymacro.blogspot.com/2016/12/why-populism-should-be-no-surprise.html mainly macro: Why populism should be no surprise As well as watching and listening to my SPERI/New Statesman prize lecture, you can now read it in the form of a SPERI paper (slightly mo... mainly macro populism surprise https://mainlymacro.blogspot.com/2014/12/the-eurozone-scandal.html?m=1 mainly macro: The Eurozone Scandal Imagine that it was revealed that 10% of the European Union budget (the money that goes to the EU centre to fund the common agricultural po... mainly macro eurozone scandal https://mainlymacro.blogspot.com/2018/02/why-is-government-making-such-mess-of.html mainly macro: Why is the government making such a mess of Brexit? A year and a half after the vote to leave, and the government has still not decided on what form of Brexit it wants. This is despite trigg... mainly macro the government https://mainlymacro.blogspot.com/2019/07/ mainly macro: July 2019 Comment on macroeconomic issues mainly macro july https://mainlymacro.blogspot.com/2013/06/my-verdict-on-ngdp-targets.html mainly macro: My verdict on NGDP Targets At the beginning of the year I decided I needed to firm up my views on nominal GDP (NGDP) targets, and when I thought it was interesting t... mainly macro verdict targets https://mainlymacro.blogspot.com/2021/10/ mainly macro: October 2021 Comment on macroeconomic issues mainly macro october https://mainlymacro.blogspot.com/2015/09/ mainly macro: September 2015 Comment on macroeconomic issues mainly macro september https://mainlymacro.blogspot.com/2023/07/ mainly macro: July 2023 Comment on macroeconomic issues mainly macro july https://mainlymacro.blogspot.com/2015/01/how-good-has-uk-recovery-been.html mainly macro: How good has the UK recovery been? In the next five months we will hear a lot about the strength of the UK recovery since 2013. Forget 2011 and 2012, certain people will say,... mainly macro how good the uk recovery https://mainlymacro.blogspot.com/2017/03/the-output-gap-and-innovations-gap.html mainly macro: The Output Gap and the Innovations Gap A major objection to my suggestion that the UK is in an self-fulfilling expectations led recession is that measures of the output gap sugg... mainly macro the output gap innovations https://mainlymacro.blogspot.com/2013/07/fiscal-backing.html?m=0 mainly macro: Fiscal backing In an earlier post I went through the logic of why we do not think higher government debt necessarily causes inflation, even if that debt ... mainly macro fiscal backing https://mainlymacro.blogspot.com/2020/06/locking-down-too-late-but-ending.html mainly macro: Locking down too late but ending lockdown too early The major reason we have one of the highest death rates as a result of the coronavirus pandemic is that Johnson/Cummings had an intense av... mainly macro too late locking ending lockdown https://mainlymacro.blogspot.com/2015/02/can-helicopter-money-be-democratic.html?m=0 mainly macro: Can helicopter money be democratic? Helicopter money started as an abstract thought experiment: money would be created and just distributed to individuals by helicopter. If we... mainly macro helicopter money democratic https://mainlymacro.blogspot.com/2013/12/?m=0 mainly macro: December 2013 Comment on macroeconomic issues mainly macro december https://mainlymacro.blogspot.com/2018/03/jeremy-corbyn-cannot-end-brexit.html?m=0 mainly macro: Jeremy Corbyn cannot end Brexit There is a cheap jibe that responds to the title of this piece by saying that Corbyn does not want to end Brexit. It is cheap because what... mainly macro jeremy corbyn cannot end brexit https://mainlymacro.blogspot.com/2016/07/?m=0 mainly macro: July 2016 Comment on macroeconomic issues mainly macro july https://mainlymacro.blogspot.com/2011/12/countercyclical-fiscal-policy-in.html?m=0 mainly macro: Countercyclical fiscal policy in the Eurozone In a previous post I looked at the evidence that there was a competitiveness crisis in the Eurozone as well as a debt crisis. I concluded t... mainly macro fiscal policy eurozone https://mainlymacro.blogspot.com/2014/06/tyrie-and-imf-on-austerity.html mainly macro: Tyrie and the IMF on austerity Suppose you were given advice about the UK economy every year, and these were the outturns for growth. What, in retrospect, would you compl... mainly macro and the imf austerity https://mainlymacro.blogspot.com/2014/08/article-1231-and-ecb.html mainly macro: Article 123.1 and the ECB 123.1. Overdraft facilities or any other type of credit facility with the European Central Bank or with the central banks of the Member St... mainly macro and the article ecb https://mainlymacro.blogspot.com/2013/11/the-view-from-germany.html?m=0 mainly macro: The view from Germany As an exemplar, take this article that appeared in Spiegel (HT MT). It defends Germany against criticism of its current account surplus, b... the view from mainly macro germany https://mainlymacro.blogspot.com/2014/06/understanding-new-classical-revolution.html?m=1 mainly macro: Understanding the New Classical revolution In the account of the history of macroeconomic thought I gave here , the New Classical counter revolution was both methodological and ideol... mainly macro the new understanding classical revolution https://mainlymacro.blogspot.com/2017/10/the-impact-of-austerity-in-uk.html mainly macro: The impact of austerity in the UK When they do their forecast evaluation report, the OBR also look at the impact of fiscal policy on GDP. Here is the relevant chart from the... mainly macro the impact austerity uk https://mainlymacro.blogspot.com/2012/03/fiscal-policy-heroes.html?m=1 mainly macro: Fiscal policy heroes Have you ever wondered why anyone becomes a football (soccer) referee? You are almost certain to be hated by one team and it... mainly macro fiscal policy heroes https://mainlymacro.blogspot.com/2022/01/the-broadcast-media-knowledge-disconnect.html?m=0 mainly macro: The broadcast media - knowledge disconnect Today we are in the middle of an Omicron wave, but I want to go back to mid-November. The BBC News at Ten on 15th November 2021 ran as its s... mainly macro the broadcast media knowledge disconnect https://mainlymacro.blogspot.com/2014/07/rereading-lucas-and-sargent-1979.html mainly macro: Rereading Lucas and Sargent 1979 Mainly for macroeconomists and those interested in macroeconomic thought Following this little interchange ( me , Mark Thoma , Paul K... mainly macro rereading lucas sargent https://mainlymacro.blogspot.com/2014/06/understanding-new-classical-revolution.html mainly macro: Understanding the New Classical revolution In the account of the history of macroeconomic thought I gave here , the New Classical counter revolution was both methodological and ideol... mainly macro the new understanding classical revolution