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 … More

Is there really an empirical turn in economics?

Full paper here. Reposted from the INET blog. French translation here. The idea that economics has recently gone through an … More

L’idée que la science économique est en train de connaitre un “tournant empirique” est partout. Elle est depuis quelques années … More

Edit: there is now a published paper based on this blog post. Published version here; draft here. Initially published on … More

Edit: there is now a published paper based on this blog post. Published version here; draft here Why the computerization … More

Initially posted on the INET blog. At the end of World War II, the American Economic Association began seeking a … More

The proposal In January 1953, Oskar Morgentern wrote Alfred Cowles to suggest a change in the Constitution of the Econometric Society … More

It seems that economists have a serious problem with theory lately. The pushback against rational expectations is growing, Richard Thaler … More

Excerpt from this paper. Other episodes here and here. As 1910 was nearing its end, Davis Dewey, who had just … More