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Aggregate structural macroeconomic analysis: a reconsideration and defence

Author

Listed:
  • Mark Setterfield
  • Shyam Gouri Suresh

Abstract

Aggregate structural macroeconomic analysis (ASMA) is frequently criticised for being ad hoc and justified (if at all) only as a pragmatic expedient. This paper argues instead that ASMA is consistent with the principles of well-established bodies of social theory. Appeal to these principles reveals that ASMA is adequate and likely even necessary for the successful prosecution of macroeconomic inquiry.

Suggested Citation

  • Mark Setterfield & Shyam Gouri Suresh, 2014. "Aggregate structural macroeconomic analysis: a reconsideration and defence," Working Papers 14-02, Davidson College, Department of Economics.
    • Handle: RePEc:dav:wpaper:14-02
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    File URL: http://cje.oxfordjournals.org/content/early/2013/12/24/cje.bet071.full.pdf
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    Cited by:

    1. George Liagouras, 2017. "The challenge of Evo-Devo: implications for evolutionary economists," Journal of Evolutionary Economics, Springer, vol. 27(4), pages 795-823, September.
    2. Galanis, Giorgos & Veneziani, Roberto & Yoshihara, Naoki, 2016. "Growth, Exploitation and Class Inequalities," Discussion Paper Series 636, Institute of Economic Research, Hitotsubashi University.
    3. Mark Setterfield, 2015. "Won’t Get Fooled Again – Or Will We? Monetary Policy, Model Uncertainty, and ‘Policy Model Complacency’," Working Papers 1516, New School for Social Research, Department of Economics, revised Jan 2016.

    More about this item

    Keywords

    Macroeconomics; Microfoundations; Macrofoundations; Aggregate structural relations;
    All these keywords.

    JEL classification:

    • B22 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Macroeconomics
    • B41 - Schools of Economic Thought and Methodology - - Economic Methodology - - - Economic Methodology

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