Keynesian economics are the various macroeconomic theories and models of how aggregate demand strongly influences economic output and inflation. In the Keynesian view,aggregate demand does not necessarily equal the productive capacity of the economy. It is influenced by a host of factors that sometimes behave erratically and impact production,employment,and inflation.
Macroeconomics is a branch of economics that deals with the performance,structure,behavior,and decision-making of an economy as a whole. This includes regional,national,and global economies. Macroeconomists study topics such as output/GDP and national income,unemployment,price indices and inflation,consumption,saving,investment,energy,international trade,and international finance.
Monetarism is a school of thought in monetary economics that emphasizes the role of policy-makers in controlling the amount of money in circulation. It gained prominence in the 1970s,but was mostly abandoned as a practical guidance to monetary policy during the following decade because the strategy was found to not work very well in practice. Instead,inflation targeting through movements of the official interest rate became the dominant monetary policy strategy.
Alan Stuart Blinder is an American economics professor at Princeton University and is listed among the most influential economists in the world according to IDEAS/RePEc. He is a leading macro-economist,politically liberal,and a champion of Keynesian economics and policies.
Hugh Gardner Ackley was an American economist and diplomat.
John Brian Taylor is the Mary and Robert Raymond Professor of Economics at Stanford University,and the George P. Shultz Senior Fellow in Economics at Stanford University's Hoover Institution.
Ronald MacDonald OBE was born in the West End of Glasgow in 1955,to Duncan and Effie MacDonald and spent his formative years in Glasgow,Fort William and Falkirk. He attended Tinto Road Primary School,Glasgow,Corpach Primary School,Fort William,Comely Bank Primary School,Falkirk,and Falkirk High School,with a gap year in Portree primary and High School,before progressing to his university education. He is a Scottish economist with interests in a wide range of topics in International Finance and Macroeconomics and a considerable amount of his research focuses on the economics of exchange rates and currency regime choice. He is currently Research Professor of Macroeconomics and International Finance at the Adam Smith Business School in the University of Glasgow.
Sir Alastair Muir Russell is a Scottish retired civil servant and former Principal and Vice-Chancellor of the University of Glasgow,and Chairman of the Judicial Appointments Board for Scotland.
Marian Patricia Bell,CBE is a British consultant economist,and was a member of the Bank of England's Monetary Policy Committee from June 2002 to June 2005.
Modern monetary theory or modern money theory (MMT) is a heterodox macroeconomic theory that describes currency as a public monopoly and unemployment as evidence that a currency monopolist is overly restricting the supply of the financial assets needed to pay taxes and satisfy savings desires. According to MMT,governments do not need to worry about accumulating debt since they can create new money by using fiscal policy in order to pay interest. MMT argues that the primary risk once the economy reaches full employment is inflation,which acts as the only constraint on spending. MMT also argues that inflation can be addressed by increasing taxes on everyone to reduce the spending capacity of the private sector.
The Adam Smith Chair of Political Economy is a chair at the University of Glasgow,named for Adam Smith,pioneering economist,author of The Wealth of Nations,and one of the university's most famous sons. It was established in 1896 from a lectureship which had been endowed in 1892 by Andrew Stewart,founder of Stewarts &Lloyds tube-manufacturers. Occupants are appointed by the University Court acting with a representative of the Merchants' House of Glasgow,the Trades House of Glasgow and the Chamber of Commerce of Glasgow.
Sir Timothy John Besley,is a British academic economist who is the School Professor of Economics and Political Science and Sir W. Arthur Lewis Professor of Development Economics at the London School of Economics (LSE).
Sir Alexander Kirkland Cairncross,known as Sir Alec Cairncross,was a British economist. He was the brother of the spy John Cairncross and father of journalist Frances Cairncross and public health engineer and epidemiologist Sandy Cairncross.
The neoclassical synthesis (NCS),neoclassical–Keynesian synthesis,or just neo-Keynesianism was a neoclassical economics academic movement and paradigm in economics that worked towards reconciling the macroeconomic thought of John Maynard Keynes in his book The General Theory of Employment,Interest and Money (1936). It was formulated most notably by John Hicks (1937),Franco Modigliani (1944),and Paul Samuelson (1948),who dominated economics in the post-war period and formed the mainstream of macroeconomic thought in the 1950s,60s,and 70s.
The Council of Economic Advisers (CEA) in Scotland was a group of economists and leading figures from the private sector and academia who advised the Scottish Government. Its principal aims were to advise on improving the competitiveness of the Scottish economy and how to tackle inequality within Scotland. It was established in 2007,meeting for the first time on 21 September. The Council had two formal meetings a year and also carried out engagement and work between meetings. Minutes of its meetings and other reports are available on its website.
James Brian Bullard is the former chief executive officer and 12th president of the Federal Reserve Bank of St. Louis,a position he held from 2008 until August 14,2023. In July 2023,he was named dean of the Mitchell E. Daniels Jr. School of Business at Purdue University.
Carlos A. Végh is a Uruguayan academic economist who,since 2013,is the Fred H. Sanderson Professor of International Economics at the Johns Hopkins School of Advanced International Studies (SAIS),and holds a joint appointment with Johns Hopkins' Department of Economics. He is also a research associate at the National Bureau of Economic Research since 1998. He was the World Bank's chief economist for Latin America and the Caribbean from February 1,2017 to June 30,2019,while on leave from Johns Hopkins. He was previously a professor of economics and vice-chair of undergraduate studies at UCLA (1996-2005) and professor of economics at the University of Maryland (2005-2013). His research work on monetary and fiscal policy in emerging and developing countries has been highly influential in both academic and policy circles. In particular,his work on fiscal procyclicality in emerging markets has been instrumental in generating a copious literature on the subject,which has influenced the adoption of fiscal rules in many emerging markets.
Simon Wren-Lewis is a British economist. He is a professor of economic policy at the Blavatnik School of Government at Oxford University and a Fellow of Merton College.
Giancarlo Corsetti,is an Italian macroeconomist and Professor of Macroeconomics at the European University Institute in Florence. He is best known in academia for his work on open economy macroeconomics and international economics. In March 2017,the IDEAS/RePEc overall ranking put him as the most influential economist at Cambridge University where he was teaching at the time.
Paul James Sheard is an Australian-American economist. Most recently he was Research Fellow and earlier M-RCBG Senior Fellow at Harvard Kennedy School's Mossavar-Rahmani Center for Business and Government,after previously being Vice Chairman of S&P Global. Sheard has held chief economist positions at Lehman Brothers,Nomura Securities,Standard &Poor's Ratings Services,and S&P Global. Prior to entering financial markets in 1995,he was an academic economist based in Australia,Japan and the United States,specializing in the Japanese economy and the economics of firm organization. He was a member of the World Economic Forum's Global Future Council on the New Agenda for Fiscal and Monetary Policy (2020-2022),having been a member of the WEF's Global Future Council on the New Economic Agenda (2018-2020) and of its Global Agenda Council on the International Monetary System (2010-2012). He is a member of the board of the Foreign Policy Association and is a member of the advisory board of the Levy Economics Institute of Bard College. He is a member of the Bretton Woods Committee,the Council on Foreign Relations,the Economic Club of New York and the National Committee on U.S.-China Relations. He attends and speaks regularly at conferences around the world,and his views on the global economy and economic policy are frequently cited in the international press.
