To the growing list of famous mainstream macroeconomists who have publicly criticized their discipline, add another: In a recent essay, Lawrence Christiano of Northwestern University argues that the ...

This exposition addresses three reasonable departures from fully maximizing behavior that exhibit important Keynesian features. These departures involve inertial, imitative, and error-conscious ...

We investigate the role of macroprudential policies in mitigating liquidity traps driven by deleveraging, using a simple Keynesian model. When constrained agents engage in deleveraging, the interest ...