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Macro has progressed

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  • Kozicki, Sharon

Abstract

Recent articles claiming convergence in macroeconomics take a narrow view of macro focused on the use of New Keynesian dynamic stochastic general equilibrium models. With this narrow view of the state of the art in macro, Fair (2011) questions whether macro has progressed. However, when taking a broader view, many important contributions in macro are evident. Encouraging and appreciating diversity in research, including the development and use of a variety of models and methodologies should enhance the pace of progression.

Suggested Citation

  • Kozicki, Sharon, 2012. "Macro has progressed," Journal of Macroeconomics, Elsevier, vol. 34(1), pages 23-28.
  • Handle: RePEc:eee:jmacro:v:34:y:2012:i:1:p:23-28
    DOI: 10.1016/j.jmacro.2011.07.005
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    References listed on IDEAS

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    Cited by:

    1. Fabio Bacchini & Cristina Brandimarte & Piero Crivelli & Roberta De Santis & Marco Fioramanti & Alessandro Girardi & Roberto Golinelli & Cecilia Jona-Lasinio & Massimo Mancini & Carmine Pappalardo & D, 2013. "Building the core of the Istat system of models for forecasting the Italian economy: MeMo-It," Rivista di statistica ufficiale, ISTAT - Italian National Institute of Statistics - (Rome, ITALY), vol. 15(1), pages 17-45.
    2. Olivier Gervais & Marc-André Gosselin, 2014. "Analyzing and Forecasting the Canadian Economy through the LENS Model," Technical Reports 102, Bank of Canada.
    3. Russell, Bill, 2013. "Macroeconomics: Science or Faith Based Discipline?," SIRE Discussion Papers 2013-114, Scottish Institute for Research in Economics (SIRE).

    More about this item

    Keywords

    New Keynesian; DSGE; Learning; Crises; Real-financial linkages; Macroeconometric forecasting models;

    JEL classification:

    • E - Macroeconomics and Monetary Economics
    • C53 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Forecasting and Prediction Models; Simulation Methods
    • B4 - Schools of Economic Thought and Methodology - - Economic Methodology

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