Dr. Roberth Solow, has acknowledged that there are some gaps in the "state of the art" of macroeconomic science, among others has focused on the over-simplification of DSGE models.
Other economists speak of the failure of equilibrium models, which have not incorporated into the financial system in its analysis because the operator based on representative.
To reduce the analysis to that level, is as coniderar a basic cell for biological analysis, without considering the phenomena that occur in their environment and interactions this environment with the basic cell.
Here the link of Dr. Solow:
But is not the only case, here are the opinions of Axel Leijonhufvud of UCLA:
" Macroeconomics and the Crisis: A Personal Appraisal1 "
Other opinions against macroeconomic theory, by Willem Buiter, Chief Citigroup economist. Http://voxeu.org/index.php?q=node/3210
A voice from MIT, Dr. Ricardo Caballero, on the vagueness of the predictions and the failure of the models: Macroeconomics after the Crisis: Time to Deal with the Pretense-of-Knowledge Syndrome "
http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1683617 And a defense for of Macroeconomics, by Professor Rajiv Sethi Columbia University, in his famous BLOG http://rajivsethi.blogspot.com/2010/06/on-blogs-and-economic-discourse.html
0 comments:
Post a Comment