Understanding the Great Recession — An Interview with Larry Christiano

Following our discussion on post-2008 Macroeconomics developments and the importance of DSGE models in part I of the interview, we asked Prof. Christiano about one of his recent and important research paper “Understanding the Great Recession”. What does his model tell us about the Great Recession? Does labor participation rate have a role in the developments of the Great Recession? These are the questions we’ve discussed with Prof. Christiano, and he has some great answers.

A Macroeconomic Earthquake – How Larry Christiano thinks about the Post-2008 Macroeconomics?

In this interview, Prof Christiano shared his view on the development of post-2008 academic macroeconomics. We’ve asked Prof Christiano does he agree that modern macroeconomic models are too complicated for the general public, or even policymakers and if he agrees that economic models should be “simpler”. Does he think the recent revival of ISLM model a “good trend”? Should Macroeconomists hang on their faith in DSGE models? Should they explore alternative paths?

Blanchard Cover Photo

Blanchard: “I would use this model to explain Macroeconomics to my Mum”

This is the sixth installment of our interview series “Where is the General Theory of the 21st Century?” Blanchard on DSGE and the State of Macroeconomics | #WITGT21 Conversation Series | EconReporter Continuing our previous discussion on “DSGE model and the State of Macroeconomics”, Professor Olivier Blanchard further explained the … …Click to read the whole thing…