Tag Archives: forecast

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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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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