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Literaturbeitrag / Review Paper. Macroeconometric Models – From “Little Science” to “Big Science”

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  • Heilemann Ullrich

    (Institut für Empirische Wirtschaftsforschung (IEW), Universität Leipzig, Grimmaische Straße 12–14, 04109 Leipzig, Germany, and Fraunhofer Center for Central and Eastern Europe, Neumarkt 9–19, 04109 Leipzig, Germany)

Abstract

This is a fine, useful book on the history and structure of macroeconometric models. Its perspective is “applied” and has a “positivistic bias”. It gives a good (or not so good) picture of the state of the art. The problems of the now “Big Science” deserve more attention than the modelling community (and Welfe) so far has been willing to pay. The trend towards ever larger policy-relevant models will continue. However, few of them are accessible to third parties. “Transparency”, a major goal models had once started to increase, continues to get out of sight.

Suggested Citation

  • Heilemann Ullrich, 2015. "Literaturbeitrag / Review Paper. Macroeconometric Models – From “Little Science” to “Big Science”," Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik), De Gruyter, vol. 235(1), pages 82-89, February.
    • Handle: RePEc:jns:jbstat:v:235:y:2015:i:1:p:82-89
    DOI: 10.1515/jbnst-2015-0107
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    References listed on IDEAS

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