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Macroeconomic policy and the role of the state in a changing world
The purpose of this paper is to assess macroeconomic policy and the role of
the state in light of the experiences in the 50 years since Keynesian ideas
were broadly applied, the changing structure of the world economy and the
advance of economic ideas. We shall not confine ourselves to the traditional,
narrow concerns of macroeconomic analysis, i.e. demand management and monetary
and fiscal policy in the short run. Institutions will play a central role in
this analysis.
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