Tag Archives: simulation

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 the computer transformed economics. And didn’t

Edit: there is now a published paper based on this blog post. Published version here; draft here. Initially published on the INET blog Below is a picture of what the desktop of MIT macroeconomist Franco Modigliani may have looked like … Continue reading

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Further thoughts on historicizing the computerization of economics

Edit: there is now a published paper based on this blog post. Published version here; draft here  Why the computerization of economics needs to be historicized I’m co-organizing a conference investigating whether the transformation of economics from the 1970s is … Continue reading

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9 ways computers have affected the development of economics

Edit: there is now a published paper based on this blog post. Published version here; draft here  “The rise of applied economics from the 1970s onward is a consequence of computerization and better data.” This increasingly canonical narrative has the … Continue reading

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The computerization of economics: a chronology (in progress)

Edit: there is now a published paper based on this blog post. Published version here; draft here  On Hardware, there’s a great illustrated history of computers here (and timeline). For econometrics software, I relied on Charles Renfro’s massive history. I have tried to classify … Continue reading

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