Peter Howitt – a Keynesian still in Recovery*

Abstract

Peter Howitt is best known for his contributions to growth theory, but his work in short-run economics, which began with his Ph.D thesis and still continues, is important and deserves attention. It lies firmly in the Keynesian macro-disequilibrium tradition of Robert Clower and Axel Leijonhufvud, and for a long time has been overshadowed by New-classical and New-Keynesian orthodoxy. However, the development of agent based modelling and behavioural economics is perhaps giving disequilibrium macroeconomics a new lease on life.