Simon Wren-Lewis has a piece discussing the microfoundations of macroeconomic models. This provides me with an excuse to go off at a slight tangent: my point being why I don't think that macroeconomic ...

Abstract: Robert Lucas’s famous critique of macro modeling focused the attention of modelers on what he called adaptive expectations: What’s happening “now” in a model’s data space is more important ...

The Institute is a world leader in macroeconomic modelling and forecasting. It has produced quarterly economic forecasts for around sixty years, supported by macroeconomic models. The aim of the ...

Papers presented at the conference on “Macroeconomic Models for Monetary Policy” held March 6, 2009, at the Federal Reserve Bank of San Francisco addressed such issues as how to model wage and price ...

The Trump administration is fundamentally transforming the relationship between the private sector and the U.S. government.

The recent shake-up at the research department of the Federal Reserve Bank of Minneapolis has rekindled a discussion about the best macroeconomic model to use as a guide for policymakers. Should we ...

Faith in macroeconomic models plummeted after the Great Recession, and for good reason. The models failed to foresee the economic problems that were coming, the severity of the recession was misjudged ...

The paper identifies three major areas in which AI is now vital. These include financial market prediction, macroeconomic ...

Research has revealed several facts about financial crises based on historical data. Crises are rare events that are associated with severe recessions that are typically deeper than normal recessions.

The Trump administration made some bold claims about the 2017 Tax Cuts and Jobs Act, which slashed the corporate-tax rate. Larry Kudlow, the head of the former president’s National Economic Council, ...

Via Ryan Avent, I came across this fascinating interview about why economic models always fail us in crisis. That's a big question, so fortunately the professor has a really great historical analogy ...