Monetarist
OpenOften reflect monetary tightening, unstable money growth, or policy mistakes.
Compare
Compare Schools and Models
Read the disagreement side by side, move through debate packs, and line those arguments up against the model routes they tend to trust.
HelpDebate packs
Read the disagreement side by side, then open the model routes it leans on.
Concepts tell you what moved. This workspace is for the next question: why different macro traditions read the same move differently, which policy instincts follow from those readings, and which model routes they reach for once the argument becomes operational.
Set the question first. Keep the rows side by side after that.
Active pack
Inflation debate keeps the school rows, scenario lens, and model families aligned so you can change the comparison without rebuilding the page state by hand.
Schools
Compare the explanations first.
Active preset: Inflation debate. Pick up to three schools at once and keep the same debate rows visible all the way down the page.
Mainstream
Heterodox
Other schools in theory
What causes recessions?
What causes inflation?
Monetarist
OpenSustained inflation ultimately requires excessive money growth or permissive monetary policy.
New Keynesian
OpenMoves through expectations, marginal costs, and sticky nominal adjustment.
Modern Heterogeneous-Agent Macro
OpenTransmission differs across households, sectors, rents, wages, and financing positions.
Do markets self-correct?
When does policy work?
Need the broader map first?Back to schools
Policy handoff
Move from competing diagnoses into the policy lanes they point toward.
Scenarios
Keep one macro setup fixed and watch the diagnoses change.
Prices accelerate sharply over a short period.
Monetarist
Start with whether money and nominal demand were allowed to outpace real capacity.
New Keynesian
Ask how expectations, costs, and demand pressure interact through sticky-price adjustment.
Modern Heterogeneous-Agent Macro
Look at who faces the price shock, who has buffers, and how expectations differ across households.
Models
Then open the model routes those explanations usually lean on.
School disagreements do not map one-for-one onto model routes, but they do push you toward different tools: teaching-scale theory, empirical workflows, structural policy systems, or heterogeneous simulation.
Best For
Inputs
Speed
Dashboard Fit
Strengths
Limits
Sources & References
- Snowdon, B. and Vane, H. R. Modern Macroeconomics: Its Origins, Development and Current State.
- Blanchard, O. Macroeconomics. Pearson.
- Woodford, M. Interest and Prices.
- Kaplan, G., Moll, B., and Violante, G. Monetary Policy According to HANK.