Some Methodological Reflections on the Current State of Macroeconomics

Abstract

Is Macroeconomics dying as an autonomous sub-discipline? This paper postulates that Macroeconomics understood as a different method (inhereted from Keynes) to explain aggregate phenomena is really the subject under attack. The preocupation for aggregate problems like the business cycle, unemployment, and inflation is being translated nowadays in models that tend to be more in agreement with mainstream economic theory. This perspective allows a different look at what the relevant theoretical issues are in discussing macroeconomics in developing countries.