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Tag Archives: policy
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
Posted in Uncategorized
Tagged applied, computer, Econometrics, empirical, Fed, forecast, macroeconomics, MIT, policy, prediction, simulation
1 Comment
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
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
Posted in Uncategorized
Tagged Cowles, Econometrics, financial crisis, forecast, Friedman, Klein, macroeconomics, policy, prediction
3 Comments
Les économistes face à la défiance de la société civile: faut-il déclarer la guerre des nombres?
Crise de confiance, crise de l’expertise, crise du nombre Les économistes sont au bord de la crise de nerf, prévient Anne-Laure Delatte, la directrice adjointe du CEPII. L’inquiétude était en effet palpable à l’American Economic Association, le rassemblement de plusieurs … Continue reading
Posted in Uncategorized
Tagged 0 EN FRANCAIS, data, expertise, facts, policy, quantification, statactivism
1 Comment
The making of economic facts : a reading list
That Donald Trump’s first presidential decisions included gagging the EPA,USDA and NASA, asking his advisors to provide “alternative facts” on inauguration attendance, and questioning the unemployment rate is raising serious concerns among economists. Mark Thoma and former BLS statistician Brent Moulton, among … Continue reading
Posted in Uncategorized
Tagged crisis, data, expertise, facts, policy, quantification, reading list, statactivism
5 Comments
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 empirical turn –that it went from theory to data– is all over the place. Economists have been trumpeting this transformation … Continue reading
Posted in Uncategorized
Tagged applied, computer, data, empirical, facts, John Bates Clark Medal, patrons, policy, quasi-experiments
5 Comments
somePhillips, Laffer and Gatsby: on economists obsessing about curves
On Monday, if I make it through strikes, river floods, and tear gas, I’ll be taking a course on the Great Gatsby curve in Rennes. And as I scroll through some articles on the topic, I’m struck by an air … Continue reading
Posted in Uncategorized
Tagged Gatsby Curve, Laffer Curve, narrative, Phillips Curve, policy
4 Comments
