Why Kocherlakota is Disappointed with Post-Great Recession Macroeconomics?

Welcome to the latest installment of our interview series “Where is the General Theory of the 21st Century?” “Where is the General Theory of the 21st Century?” is an interview series which we ask top economists a very important question: “Why haven’t economists come up with a new General Theory … …Click to read the whole thing…

Kocherlakota on How to Reform the Federal Reserve System

Welcome to the latest installment of our interview series “Where is the General Theory of the 21st Century?” “Where is the General Theory of the 21st Century?” is an interview series which we ask top economists a very important question: “Why haven’t economists come up with a new General Theory … …Click to read the whole thing…

Paul Romer is worried about Macroeconomics… and what others think about his worries…

Paul Romer’s latest paper “The Trouble with Macroeconomics” is definitely one of the hottest topic in the economics blogosphere. The central message is that Romer thinks the state of Macroeconomics has been going backward ever since the Real Business Cycle Theory and DSGE model took the center stage of macroeconomics. Accroeding … …Click to read the whole thing…