Is Empirical Macroeconomics a Discipline?
- Publication type: Journal article
- Journal: Revue d’histoire de la pensée économique
2018 – 2, n° 6. varia
- Author: Taouil (Rédouane)
- Abstract: Econometric techniques have turned macroeconomics into an empirical discipline. Yet, once the core concepts are examined, the empirical statements can neither invalidate nor select between the various theoretical proposals. Furthermore, the Dynamic Stochastic General Equilibrium method (DSGE) relies on a whole series of hypothesis that give precedence to theory. Empirical validation as a criterion for the evaluation both of the content of those models and of their progress is therefore excluded.
- Pages: 117 to 139
- Journal: Journal of the History of Economic Thought, n° 6
- ISBN: 978-2-406-08759-5
- ISSN: 2495-8670
- DOI: 10.15122/isbn.978-2-406-08759-5.p.0117
- Publisher: Classiques Garnier
- Online parution: 12-05-2018
- Periodicity: Biannual
- Language: French
- Keywords: The New synthesis, Dynamic Stochastic General Equilibrium, Econometric, Empirical, Primacy of Theory