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Economic Science and Political Influence

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  • Gilles Saint-Paul

    (PSE - Paris-Jourdan Sciences Economiques - CNRS - Centre National de la Recherche Scientifique - ENPC - École des Ponts ParisTech - EHESS - École des hautes études en sciences sociales - INRA - Institut National de la Recherche Agronomique - ENS Paris - École normale supérieure - Paris, PSE - Paris School of Economics, TSE - Toulouse School of Economics - Toulouse School of Economics, New York University Abu Dhabi)

Abstract

When policymakers and private agents use models, the economists who design the model have an incentive to alter it in order infuence outcomes in a fashion consistent with their own preferences. I discuss some consequences of the existence of such ideological bias. In particular, I analyze the role of measurement infrastructures such as national statisticall institutes, the extent to which intellectual competition between di¤erent schools of thought may lead to polarization of views over some parameters and at the same time to consensus over other parameters, and .nally how the attempt to preserve in.uence can lead to degenerative research programs.

Suggested Citation

  • Gilles Saint-Paul, 2012. "Economic Science and Political Influence," PSE Working Papers halshs-00759057, HAL.
  • Handle: RePEc:hal:psewpa:halshs-00759057
    Note: View the original document on HAL open archive server: https://halshs.archives-ouvertes.fr/halshs-00759057
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    References listed on IDEAS

    as
    1. Fudenberg, Drew & Levine, David K., 2009. "Self-confirming equilibrium and the Lucas critique," Journal of Economic Theory, Elsevier, vol. 144(6), pages 2354-2371, November.
    2. Bos, Frits, 2011. "Three centuries of macro-economic statistics," MPRA Paper 35391, University Library of Munich, Germany.
    3. Timothy Cogley & Thomas J. Sargent, 2005. "The conquest of US inflation: Learning and robustness to model uncertainty," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 8(2), pages 528-563, April.
    4. Olivier Blanchard, 2009. "The State of Macro," Annual Review of Economics, Annual Reviews, vol. 1(1), pages 209-228, May.
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    More about this item

    Keywords

    Ideology; Macroeconomic Modelling; Self-con.rming equilibria; Polarization ; Autocoherent Models ; Intellectual Competition ; Degenerative Research Programs ; Identification; A11; E6;

    JEL classification:

    • A11 - General Economics and Teaching - - General Economics - - - Role of Economics; Role of Economists
    • E6 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook

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