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On macroeconomic models

Par : Type de matériel : TexteTexteLangue : français Détails de publication : 2018. Ressources en ligne : Abrégé : DSGE models play a predominant role in macroeconomics and will remain vitally important in the future. However, they are only one category of models among others. We need to continue to develop various classes of models, but also to make them interact. It is important to put an end to the emerging imperialism of DSGEs, while continuing to exploit other modeling methods. On the one hand, these models are not designed to meet all of the challenges posed by macroeconomics. On the other hand, the scientific field work on this type of modeling has a lot to gain by emerging from its isolation and enriching itself with what the rest of the field of macroeconomics can provide, especially to try to overcome their multiple limitations. If these remarks seem trivial or obvious, there remains no consensus on these matters, which are at the heart of an almost religious war among the members of our profession. JEL codes: E00
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DSGE models play a predominant role in macroeconomics and will remain vitally important in the future. However, they are only one category of models among others. We need to continue to develop various classes of models, but also to make them interact. It is important to put an end to the emerging imperialism of DSGEs, while continuing to exploit other modeling methods. On the one hand, these models are not designed to meet all of the challenges posed by macroeconomics. On the other hand, the scientific field work on this type of modeling has a lot to gain by emerging from its isolation and enriching itself with what the rest of the field of macroeconomics can provide, especially to try to overcome their multiple limitations. If these remarks seem trivial or obvious, there remains no consensus on these matters, which are at the heart of an almost religious war among the members of our profession. JEL codes: E00

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