Two Types of Monetarism
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The 1970s witnessed the rise of two fashionable macroeconomic schools of thought--monetarism and the so-called "new classical" macroeconomics, the latter usually closely identified with one of the fundamental components, the rational expectations hypothesis. Both schools traice their acnestory to older economic doctrines, but it is just in the last decade that they have moved into the mainstream of post-war macroeconomics.
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Professor of Economics
Professor Hoover's research interests include macroeconomics, monetary economics, the history of economics, and the philosophy and methodology of empirical economics. His recent work in economics has focused on the application of causal search methodologies for structural vector autoregression, the history of microfoundational programs in macroeconomics, and Roy Harrod's early work on dynamic macroeconomics. In philosophy, he has concentrated on issues related to causality, especially in economi