Tag Archives: macroeconomics

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 though 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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A History of the JEL Codes : the Making of the “Microeconomics” and “Macroeconomics” Categories [Part 3]

During the 1930s, members of the Econometric Society such as Tinbergen or Fleming, increasingly came to use a slightly transformed version of a pair of words coined by Ragnar Frisch around 1933: “macrodynamics” and “microdynamics.” Yet, it was only in 1990 … Continue reading

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Macrowars, economists’ narratives, and my dreamed history of macro

Crossposted from INET Playground Economists’ macro stories The last straw in the enduring blog debate over microfoundations has taken a decisive historical turn. Last December already, Paul Krugman gave his own account of how microfoundations came to be the 70s, and why … Continue reading

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