Development of Swedish and Keynesian Macroeconomic Theory and its Impact on Economic Policy

• Editorial foreword; First Lecture: The Theories of the Older Generation Economist. Policy Applications in the 1920s: 1. Introduction; 2. The first Postwar crisis (1918–24); 3. The analysis of Swedish economists; 4. The debate on economic policies; 5. The suggested instruments of economic policy; Second Lecture: The Stockholm School and Keynes. The Experience of the 1930s: 6. The birth of the Stockholm school; 7. The Swedish economy in the 1930s; 8. General features of the Stockholm school approach to economic policy; 9. The theories of the Stockholm school and their policy implications; 10. The disequilibrium approach of the Stockholm school; 11. Further differences between the approaches of Keynes and the Stockholm school; Third Lecture: Postwar Policy Issues and Policy Theories before the 1970s: 12. Evolution of the policy environment; 13. Old traditions and innovations in policy analysis; 14. Gunnar Myrdal's contribution and his opponents; 15. Inflationary gap theories; 16. The Rehn–Meidner model and the selective fiscal policy; Fourth Lecture: The Disequilibria of the 1970s and the Need for New Policy Theories: 17. The imbalance of the Swedish economy: 1974–81; 18. The deficiency of policy models; 19. New policy condition; 20. The failure of Keynesian policies; 21. Structural problems and supply-side economics; 22. The debate about the size of the public sector; 23. The need for demand and supply policies; 24. Supply-side policies, efficiency and equity considerations; 25. Concluding remarks on the role of economists; Discussion; Comments; Biography; Bibliography; Index.

After applying rigorous statistical and analytical methods, Vreeland arrives at some significant, and for the IMF, sobering conclusions … Vreeland raises new questions that have important policy implications. He lays out new avenues of research and concludes with some suggestions for IMF reform.' Development Policy Review