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Macro has progressed

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  • Kozicki, Sharon

Abstract

Recent articles claiming convergence in macroeconomics take a narrow view of macro focused on the use of New Keynesian dynamic stochastic general equilibrium models. With this narrow view of the state of the art in macro, Fair (2011) questions whether macro has progressed. However, when taking a broader view, many important contributions in macro are evident. Encouraging and appreciating diversity in research, including the development and use of a variety of models and methodologies should enhance the pace of progression.

Suggested Citation

  • Kozicki, Sharon, 2012. "Macro has progressed," Journal of Macroeconomics, Elsevier, vol. 34(1), pages 23-28.
    • Handle: RePEc:eee:jmacro:v:34:y:2012:i:1:p:23-28
    DOI: 10.1016/j.jmacro.2011.07.005
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    2. Olivier Gervais & Marc-André Gosselin, 2014. "Analyzing and Forecasting the Canadian Economy through the LENS Model," Technical Reports 102, Bank of Canada.
    3. Russell, Bill, 2013. "Macroeconomics: Science or Faith Based Discipline?," SIRE Discussion Papers 2013-114, Scottish Institute for Research in Economics (SIRE).

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    More about this item

    Keywords

    New Keynesian; DSGE; Learning; Crises; Real-financial linkages; Macroeconometric forecasting models;
    All these keywords.

    JEL classification:

    • E - Macroeconomics and Monetary Economics
    • C53 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Forecasting and Prediction Models; Simulation Methods
    • B4 - Schools of Economic Thought and Methodology - - Economic Methodology

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