Author Archives: Beatrice

Speculations on the stabilization and dissemination of the “DSGE” trade name (in progress)

Some research I’ve done for the history of macroeconometric modeling conference that will be held in Utrecht next week led me to wonder who coined and disseminated the  term “Dynamic Stochastic General Equilibrium.” Not the class of models, whose development … Continue reading

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“The American Economic Association declares that economics is not a man’s field”: the missing story

The December 1971 meeting of the American Economic Association in New Orleans was a watershed, Denison University’s Robin Bartlett remembers. The room in which Barbara Bergmann chaired a session on “What economic equality for women requires” was packed, as was … Continue reading

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Big data in social sciences: a promise betrayed ?

In just 5 years, the mood at conferences on social science and big data has shifted, at least in France. Back in the early 2010s, these venues were buzzing with exchanges about the characteristics of the “revolution” (the 4Vs) with … Continue reading

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The ordinary business of macroeconometric modeling: working on the MIT-Fed-Penn model (1964-1974)

Against monetarism?  In the early days of 1964, George Leland Bach, former dean of the Carnegie Business School and consultant to the Federal Reserve, arranged a meeting between the Board of Governors and 7 economists, including Stanford’s Ed Shaw, Yale’s … Continue reading

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How much do current debates owe to conflicting definitions of economics?

It is not clear to me how the literature on the current state of economics got out of control. The genre is as old as the discipline itself and has grown cyclically with crises. But the last one broke out … Continue reading

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How not to screw up your economic expertise: lessons from the Kennedy tax cut grandmaster, Walter Heller

  What is the “crisis in economic expertise” about? Trump’s decision to demote whoever might be nominated chairman of the Council of Economic Advisers (CEA) from his cabinet has been interpreted as a final blow to a tough year – … Continue reading

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The problem with “economists-failed-to-predict-the-2008-crisis” macrodeath articles

This week has delivered one more interesting batch of economics soul-searching posts. On Monday,  the Bloomberg View editorial board has outlined its plans to make economics more of a science (by “tossing out” models that are “refuted by the observable world” … Continue reading

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