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L’état actuel de la macroéconomie

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  • Olivier Blanchard

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[eng] The State of Macro. For a long while after the explosion of macroeconomics in the 1970s, the field looked like a battlefield. Over time however, largely because facts do not go away, a largely shared vision both of fluctuations and of methodology has emerged. Not everything is fine. Like all revolutions, this one has come with the destruction of some knowledge, and suffers from extremism and herding. None of this deadly however. The state of macro is good. The first section sets the stage with a brief review of the past. The second argues that there has been broad convergence in vision, and the third reviews the specifics. The fourth focuses on convergence in methodology. The last looks at current challenges. not go away, a largely shared vision both of fluctuations and of methodology has emerged. Not everything is fine. Like all revolutions, this one has come with the destruction of some knowledge, and suffers from extremism and herding. None of this deadly however. The state of macro is good. The first section sets the stage with a brief review of the past. The second argues that there has been broad convergence in vision, and the third reviews the specifics. The fourth focuses on convergence in methodology. The last looks at current challenges. [fre] Durant la période qui suivit l’explosion de la macroéconomie dans les années 1970, ce champ de recherche ressembla à un champ de bataille. Cependant, au fil du temps, parce que les faits ont la vie dure, une vision largement partagée des fluctuations et de la méthodologie a ré-émergé. Bien sûr, tout n’est pas parfait. Comme toute révolution, celle-ci s’est accompagnée de la destruction d’une partie de la connaissance existante et a souffert d’extrémisme et de conformisme. Cependant, tout ceci n’étant pas fatal, la macroéconomie se porte bien. La première section présente la situation actuelle et s’accompagne d’un rapide examen des développements antérieurs. La deuxième section soutient qu’il y a eu une large convergence en termes de vision alors que la troisième section présente ces convergences. La quatrième s’attache à la convergence méthodologique. La dernière examine les défis actuels.

Suggested Citation

  • Olivier Blanchard, 2009. "L’état actuel de la macroéconomie," Revue Française d'Économie, Programme National Persée, vol. 24(1), pages 3-40.
  • Handle: RePEc:prs:rfreco:rfeco_0769-0479_2009_num_24_1_1720 Note: DOI:10.3406/rfeco.2009.1720
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    References listed on IDEAS

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    1. Ariel Rubinstein, 2007. "Instinctive and Cognitive Reasoning: A Study of Response Times," Economic Journal, Royal Economic Society, vol. 117(523), pages 1243-1259, October.
    2. Don Ross, 2007. "Economic Theory and Cognitive Science: Microexplanation," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262681684, January.
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