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Post-Macroeconomics : Reflections on the Crisis and Strategic Directions Ahead

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dc.contributor.authorMonga, Celestin
dc.date.accessioned2012-03-19T19:11:20Z
dc.date.available2012-03-19T19:11:20Z
dc.date.issued2009-07-01
dc.description.abstractFor decades, many researchers argued that economics had nothing to fear from enriching itself with lessons and advances from other disciplines. Unfortunately, these suggestions were either neglected or dismissed upfront in what was then arbitrarily considered mainstream economics. The global crisis has led even Nobel Prize winners to acknowledge that the problem facing economists and policy makers today is mostly intellectual - it is the need to confront the systematic failure of thinking, especially on the part of macroeconomists. Despite its unprecedented magnitude and heavy financial, human, and intellectual cost, the crisis certainly does not invalidate everything that has been learned about macroeconomics. However, the costs highlight some of mistakes of the dominant intellectual macroeconomic framework. Post-macroeconomics should not be understood as another metanarrative of the end of metanarratives. The use of the prefix post here suggests and emphasizes much more than temporal posterity. Post-macroeconomics should follow from macroeconomics more than it follows after macroeconomics. The theorizing of post-macroeconomics is therefore neither systematically oppositional nor hegemonic. It does not advocate a - dialectic opposition - between macroeconomics and post-macroeconomics. Rather, it suggests that the latter builds on the former and goes beyond it.en
dc.identifierhttp://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000158349_20090702090224
dc.identifier.doi10.1596/1813-9450-4986
dc.identifier.urihttps://hdl.handle.net/10986/4178
dc.languageEnglish
dc.relation.ispartofseriesPolicy Research working paper ; no. WPS 4986
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo/
dc.subjectACCOUNTING
dc.subjectAGGREGATE DEMAND
dc.subjectAMOUNT OF CAPITAL
dc.subjectASSET PRICE
dc.subjectASSET-BACKED SECURITIES
dc.subjectASSETS
dc.subjectBALANCE OF PAYMENTS
dc.subjectBALANCE SHEET
dc.subjectBALANCE SHEETS
dc.subjectBANKING SUPERVISION
dc.subjectBANKING SYSTEM
dc.subjectBANKRUPTCIES
dc.subjectBANKRUPTCY
dc.subjectBID
dc.subjectBOND
dc.subjectBOND OBLIGATION
dc.subjectBONDS
dc.subjectBORROWER
dc.subjectBORROWING CAPACITY
dc.subjectBORROWING COSTS
dc.subjectBROKER
dc.subjectBUDGET DEFICITS
dc.subjectBUSINESS CYCLE
dc.subjectBUSINESS CYCLES
dc.subjectCAPITAL FLOWS
dc.subjectCAPTIVE MARKETS
dc.subjectCENTRAL BANK
dc.subjectCENTRAL BANKS
dc.subjectCLASSICAL ECONOMISTS
dc.subjectCOMMERCIAL BANK
dc.subjectCOMMERCIAL LOANS
dc.subjectCOMPARATIVE ADVANTAGE
dc.subjectCOMPETITIVE MARKETS
dc.subjectCONSUMERS
dc.subjectCREDIBILITY
dc.subjectCREDIT CARD
dc.subjectCREDIT INSTITUTIONS
dc.subjectCREDIT RISK
dc.subjectCREDIT SYSTEMS
dc.subjectCREDITWORTHINESS
dc.subjectCURRENT ACCOUNT DEFICITS
dc.subjectDEBT
dc.subjectDEBT BURDEN
dc.subjectDEBT REDUCTIONS
dc.subjectDEBTS
dc.subjectDEFLATION
dc.subjectDEPOSIT
dc.subjectDERIVATIVE
dc.subjectDERIVATIVE SECURITY
dc.subjectDEVELOPING COUNTRIES
dc.subjectDEVELOPMENT ASSISTANCE
dc.subjectDEVELOPMENT ECONOMICS
dc.subjectDEVELOPMENT PROCESSES
dc.subjectDIMINISHING RETURNS
dc.subjectECONOMIC HISTORIANS
dc.subjectECONOMIC HISTORY
dc.subjectECONOMIC MODELS
dc.subjectECONOMIC POLICIES
dc.subjectECONOMIC SYSTEMS
dc.subjectECONOMIC THEORY
dc.subjectECONOMIC THOUGHT
dc.subjectECONOMIES OF SCALE
dc.subjectECONOMISTS
dc.subjectEQUILIBRIUM THEORY
dc.subjectEQUIPMENT
dc.subjectEXCESS LIQUIDITY
dc.subjectEXCHANGE RATES
dc.subjectEXPECTED RETURNS
dc.subjectEXPENDITURE
dc.subjectEXPENDITURES
dc.subjectEXPORTS
dc.subjectFEDERAL RESERVE
dc.subjectFEDERAL RESERVE BANK
dc.subjectFINANCIAL ASSETS
dc.subjectFINANCIAL CONTAGION
dc.subjectFINANCIAL CRISIS
dc.subjectFINANCIAL INSTITUTIONS
dc.subjectFINANCIAL INSTRUMENTS
dc.subjectFINANCIAL MARKET
dc.subjectFINANCIAL MARKETS
dc.subjectFINANCIAL RISKS
dc.subjectFINANCIAL SYSTEMS
dc.subjectFISCAL POLICY
dc.subjectFOREIGN DEBT
dc.subjectFOREIGN EXCHANGE
dc.subjectFOREIGN INVESTMENT
dc.subjectFREE MARKET ECONOMY
dc.subjectFULL EMPLOYMENT
dc.subjectFUNDS FLOW
dc.subjectGDP
dc.subjectGDP PER CAPITA
dc.subjectGLOBALIZATION
dc.subjectGOVERNMENT INTERVENTION
dc.subjectGOVERNMENT REVENUE
dc.subjectGROWTH POTENTIAL
dc.subjectGROWTH RATE
dc.subjectGROWTH THEORY
dc.subjectHEDGE FUND
dc.subjectHEDGE FUNDS
dc.subjectHOLDING
dc.subjectHOUSEHOLD WEALTH
dc.subjectHUMAN CAPITAL
dc.subjectIMPERFECT COMPETITION
dc.subjectINCOME
dc.subjectINCOME GROWTH
dc.subjectINFLATION
dc.subjectINFLATION RATE
dc.subjectINFLATION RATES
dc.subjectINFLATIONARY PRESSURES
dc.subjectINSTITUTIONAL CREDIT
dc.subjectINSTITUTIONAL INVESTORS
dc.subjectINSTRUMENT
dc.subjectINSURANCE
dc.subjectINSURANCE COMPANIES
dc.subjectINTEREST RATE
dc.subjectINTEREST RATES
dc.subjectINTERNATIONAL BANK
dc.subjectINTERNATIONAL BANKING
dc.subjectINTERNATIONAL FINANCIAL MARKETS
dc.subjectINTERNATIONAL FINANCIAL SYSTEM
dc.subjectINTERNATIONAL MARKETS
dc.subjectINTERNATIONAL TRADE
dc.subjectINVESTING
dc.subjectINVESTMENT HORIZON
dc.subjectINVESTMENT OPPORTUNITIES
dc.subjectINVESTMENT VEHICLE
dc.subjectISSUANCE
dc.subjectKEYNESIAN ECONOMICS
dc.subjectKEYNESIAN ECONOMISTS
dc.subjectKEYNESIAN THEORY
dc.subjectLABOR MARKET
dc.subjectLENDERS
dc.subjectLEVEL OF RISK
dc.subjectLINES OF CREDIT
dc.subjectLIQUID ASSETS
dc.subjectLIQUIDITY
dc.subjectLOAN
dc.subjectLOAN OBLIGATION
dc.subjectLOAN PORTFOLIOS
dc.subjectLONG TERM CAPITAL
dc.subjectLONG-TERM COSTS
dc.subjectLOW INTEREST RATES
dc.subjectMACROECONOMIC ANALYSES
dc.subjectMACROECONOMIC MANAGEMENT
dc.subjectMACROECONOMIC MODELS
dc.subjectMACROECONOMIC PERFORMANCE
dc.subjectMACROECONOMIC POLICIES
dc.subjectMACROECONOMIC POLICY
dc.subjectMACROECONOMIC STABILITY
dc.subjectMACROECONOMICS
dc.subjectMARGINAL PRODUCTIVITY
dc.subjectMARKET DISCIPLINE
dc.subjectMARKET ECONOMIES
dc.subjectMARKET FAILURES
dc.subjectMATHEMATICAL MODELS
dc.subjectMONETARY AUTHORITIES
dc.subjectMONETARY POLICIES
dc.subjectMONETARY POLICY
dc.subjectMONEY SUPPLY
dc.subjectMORTGAGE
dc.subjectMORTGAGE LOANS
dc.subjectMORTGAGES
dc.subjectMULTIPLIERS
dc.subjectMUTUAL FUNDS
dc.subjectNATIONAL INCOME
dc.subjectNATURAL RESOURCES
dc.subjectOPEN ECONOMIES
dc.subjectOPTIMIZATION
dc.subjectPARETO OPTIMUM
dc.subjectPENSION
dc.subjectPOLITICAL ECONOMY
dc.subjectPORTFOLIO
dc.subjectPORTFOLIOS
dc.subjectPRICE CONTROLS
dc.subjectPRICE INCREASES
dc.subjectPRICE LEVELS
dc.subjectPRICE RISK
dc.subjectPRICE STABILITY
dc.subjectPRIME RATE
dc.subjectPRIVATE CAPITAL
dc.subjectPRIVATE RATING AGENCIES
dc.subjectPRODUCTION FUNCTION
dc.subjectPRODUCTION FUNCTIONS
dc.subjectPRODUCTIVITY
dc.subjectPROFIT MARGIN
dc.subjectPROPERTY RIGHTS
dc.subjectPROTECTIONISM
dc.subjectPRUDENTIAL REGULATION
dc.subjectPUBLIC INVESTMENT
dc.subjectPURCHASING POWER
dc.subjectRATE OF RETURN
dc.subjectRECESSION
dc.subjectREINVESTMENT
dc.subjectREMITTANCES
dc.subjectRESERVES
dc.subjectRETURN
dc.subjectRISK OF DEFAULT
dc.subjectSECONDARY MARKETS
dc.subjectSECURITIES
dc.subjectSHORT-TERM INTEREST RATES
dc.subjectSTATISTICAL ANALYSIS
dc.subjectSTATISTICAL DATA
dc.subjectSTICKY PRICES
dc.subjectSTOCK EXCHANGE
dc.subjectSTOCK MARKETS
dc.subjectSTOCK PRICES
dc.subjectTAX
dc.subjectTAX REVENUES
dc.subjectTOTAL FACTOR PRODUCTIVITY
dc.subjectTOTAL FACTOR PRODUCTIVITY GROWTH
dc.subjectTRADE NEGOTIATIONS
dc.subjectTRADE POLICIES
dc.subjectTRADE UNIONS
dc.subjectTRADING
dc.subjectTRANSACTION
dc.subjectTRANSPARENCY
dc.subjectTREASURY
dc.subjectTREASURY BILLS
dc.subjectUNDERLYING ASSETS
dc.subjectUNEMPLOYMENT
dc.subjectUNEMPLOYMENT RATE
dc.subjectUTILITY MAXIMIZATION
dc.subjectVARIABLE INTEREST RATES
dc.subjectVULTURE FUNDS
dc.subjectWAGES
dc.subjectWEALTH
dc.titlePost-Macroeconomics : Reflections on the Crisis and Strategic Directions Aheaden
dspace.entity.typePublication
okr.crossref.titlePost-Macroeconomics -- Reflections On The Crisis And Strategic Directions Ahead
okr.date.doiregistration2025-04-10T11:24:49.051372Z
okr.doctypePublications & Research::Policy Research Working Paper
okr.docurlhttp://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000158349_20090702090224
okr.guid118611468325248816
okr.identifier.doi10.1596/1813-9450-4986
okr.identifier.externaldocumentum000158349_20090702090224
okr.identifier.internaldocumentum10769630
okr.identifier.reportWPS4986
okr.language.supporteden
okr.pdfurlhttp://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2009/07/02/000158349_20090702090224/Rendered/PDF/WPS4986.pdfen
okr.region.administrativeWorld
okr.region.administrativeWorld
okr.unitDevelopment Research Group (DECRG)
okr.volume1 of 1
relation.isSeriesOfPublication26e071dc-b0bf-409c-b982-df2970295c87
relation.isSeriesOfPublication.latestForDiscovery26e071dc-b0bf-409c-b982-df2970295c87
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