The Rebuilding Macroeconomic Theory Project, led by David Vines and Samuel Wills (2020), is an important, albeit long overdue, initiative to rethink a failing mainstream macroeconomics. Professors Wills, who must be congratulated for stepping up the challenge of trying make macroeconomics relevant again, call new multiple-equilibrium diverse (MEADE) paradigm Their idea start with simple models,...

A dynamic stochastic general equilibrium monetary model with incomplete asset markets, nominal price rigidities and market imperfections is developed to shed light on the role of exchange rate and its relation with current account dynamics in the formulation of monetary policy. In the recent literature, labelled as new open economy macroeconomics (NOEM), the dynamics of current account do not m...

For an anthropologist like myself the work of H.T. Odum has great significance. For 40 years his research has explored the workings of open systems of all sorts found in nature, including the biosphere’s systems of humanity (Odum, 1971, 1983, 1996; Odum and Odum, 1976, 2001; Odum et al., 1998). There is perhaps no more interesting systemic relationship than that between people and nature, and b...

Historically, microeconomics was the domain of scientific methodology in economics, while macroeconomics attracted less mathematically oriented economists. In recent years, the level of sophistication of macroeconomics has grown dramatically, and that field now attracts many of the most mathematically oriented economists. Nevertheless, the field's set of shared views (i.e., maintained hypothesi...

ABSTRACT The main purpose of this paper is to present the differences in exchange rates macroeconomic models from three current theoretical views: Orthodox, Post-Keynesian and New Developmentalism. To achieve objective, it proposed make a bibliographic survey literature on open macroeconomics rate. among these views concerns rate determination, causes variations balance payments equilibrium det...