There are two crucial turning points in the history of modern macroeconomics. The first is the period from the 1940s to the 1970s, during which Keynesian Macroeconomics was the domi¬nant theory. The second turning point is the emergence of New Classical Macroeconomics in the early 1970s, which became the prevailing paradigm from the 1980s onwards and still holds significant influence today. The aim of this paper is to analyze the transformation of discretionary economic policies in general and fiscal policy in particular, in the process from the Keynesian revolution to the Lucasian revolution.
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