SIMPOSIO CRISIS GLOBAL Y TEORíA ECONóMICA: La Macroeconomía y la Crisis: ？La Crisis de la Macroeconomía?

the economic policies implemented in the u.s. economy and other industrial nations during the years preceding the recentfinancial crisis have been strongly criticized for being too "liberal" regarding the functioning and regulation of markets. there are also those who question the visión and responsibility of the regulatory bodies. furthermore, the crisis triggered criticismfrom some economists-led by nobel prize winner paul krugman-with respect to the research agenda followed in the field of macroeconomics during the past thirty years. specifically, these critics affirm that the theories and models based on rational expectations were incapable of both predicting the crisis and offering solutions to it. thispaper questions the above charges. it mentions that (based on the same theoretical approaches that are now being criticized) several anieles have alerted about the risks that were brewing in the u.s. economy. if there is something to criticize, it would be the models based on the new keynesian synthesis which, just as some decades ago, largely trusted that the economic cycle could be tackled using simple rules of monetary policy.