Where Modern Macroeconomics Went Wrong
Author: Joseph Stiglitz
From: Columbia University
Recent research
The Qualitative Expectations Hypothesis: Model Ambiguity, Consistent Representations of Market Forecasts, and Sentiment
Authors: Roman Frydman, SØren Johansen, Anders Rahbek, Morten Nyboe Tabor
From: New York University – University of Copenhagen
Modelling a Complex World: Improving Macro-models
Authors: Warwick McKibbin, Andrew Stoeckel
From: Australian National University
The ECB chooses a Structural Econometric Model for its new policy model
We have decided to adopt a semi-structural approach inspired by two guidelines: 1) include financial frictions or financial mechanisms that could allow monetary policy shocks to be transmitted via channels that were absent before the crisis; 2) adopt a more flexible and empirically-driven approach.
Developing models for policy analysis in central banks
By: Vítor Constâncio – ECB
Rebuilding Macroeconomics
