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Robert Boyer
Success and Crisis of European Integration: The Role of Economic Theory and
Expert Representations

Scholar in Residence Lectures 2015

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Whereas Keynesian theory placed emphasis upon the positive role of public policies in reducing capitalism's intrinsic instability and inegalitarian nature, current classical macroeconomics postulates the contrary. The majority of economists have therefore been unable to understand the disequilibria associated with the combination of the euro with financial deregulation and high capital mobility across member states. The representations and cognitive maps of experts and policy makers have clearly played a role in a process that, from success, has evolved into failure.
Important publications
  • Keynes, J.-M.: The General Theory of Employment, Interest and Money. Cambridge: Cambridge University Press 1936.

  • Smets, F., Wouters, R.: An Estimated Stochastic Dynamic General Equilibrium Model of the Euro Area. Working Paper No. 171. Brussels: European Central Bank, International Seminar on Macroeconomics 2002.

    Material used by this session
  • Boyer, R.: The Four Fallacies of Contemporary Austerity Policies: The Lost Keynesian Legacy. In: Cambridge Journal of Economics 36, 283-312 (2012).
  • Boyer, R.: The Euro Crisis: Undetected by Conventional Economics, Favored by Nationally Focused Polity. In: Cambridge Journal of Economics 37, 533–569 (2013).

    Robert Boyer presently is an Associate Researcher at the Institut des Amériques, Vanves, France. He was a Research Director (Directeur de recherche) at the Centre national de la recherche scientifique (CNRS), Professor (Directeur d’études) at the Ecole des hautes études en sciences sociales (EHESS) and has worked at the Centre pour la recherche économique et ses applications (CEPREMAP). His major fields are: institutional and historical macroeconomics, innovation and growth analysis, labor markets and wage labor nexus, international comparisons of capitalisms, European integration, financial crises, and the history of economic doctrines and theories. Since the early 1970s, he has been a contributor to the Regulation Theory that investigates the factors that shape the institutional and technological long-term evolutions of capitalist economies.
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