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What's eating macro?

Author

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  • McAdam, Peter

Abstract

The starting point for this article is a review of the book A Practical Guide to Macroeconomics by Jeremy Rudd. The book argues that macroeconomics, as practiced in academia and filtered through to policy institutions, has provided a highly imperfect guide for how policy works and should work in practice. This review assesses the arguments outlined in the book, discusses some issues absent from the book, and addresses more general themes that arise in the interface between academic and policy macro.

Suggested Citation

  • McAdam, Peter, 2024. "What's eating macro?," Journal of Macroeconomics, Elsevier, vol. 81(C).
    • Handle: RePEc:eee:jmacro:v:81:y:2024:i:c:s016407042400034x
    DOI: 10.1016/j.jmacro.2024.103619
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    More about this item

    Keywords

    Macroeconomics; Academia; Policy; Model evaluation; Narratives; Economic history; Literature; Econometrics;
    All these keywords.

    JEL classification:

    • E20 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - General (includes Measurement and Data)
    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • E65 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Studies of Particular Policy Episodes
    • N1 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations

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