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SUMMARY:How to implement macroeconomic policies in an age of uncertainty: 
 Employment\, Growth and Public Debt (Lecture 2) - Professor Jesper Jespers
 en\, University of Roskilde\, Denmark
DTSTART:20131030T190000Z
DTEND:20131030T210000Z
UID:TALK47354@talks.cam.ac.uk
CONTACT:Akanksha Bhat
DESCRIPTION:Keynes’s name has resumed public recognition as a consequenc
 e of the recent economic crisis combined with apparent confusion on what e
 conomic policies are useful to overcome the growth-crisis.\n\nThere are ma
 ny similarities to the 1930s\, where Keynes wrote his General Theory of Em
 ployment\, Interest and Money\, which changed the way macroeconomics was u
 nderstood for quite a number of years. But the impact petered away after t
 he crises of the 1970s and nearly disappeared in the wake of the methodolo
 gy of new classical economics.\n\nThe prolonged crisis and the changed soc
 ial and institutional frameworks call for renewed understanding of macroec
 onomics. Professor Jespersen’s claim is that the methodology of Keynes i
 s still relevant and not yet fully understood. Keynes introduced the conce
 pt of ‘uncertainty’ into macroeconomic analysis. For that purpose he s
 earched for a new methodology which could capture the importance of uncert
 ainty (at the micro and macro level) for the making of a realistic analysi
 s of macroeconomic development in the past\, the present and for the futur
 e.\n\nLecture two is about policies. The main question is how to make the 
 modern macroeconomic systems more robust in an increasingly uncertain envi
 ronment\, where ‘black swans’ seems to appear quite frequently.
LOCATION:Little Hall\, Sidgwick Site
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