Insights on the Economy

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...

John Cochrane talks about Fiscal Theory of Price Level and how can we apply this theory on the current macroeconomy.

Cochrane discusses with us his view on the development in Macroeconomics since the Great Depression. He also explains what Neo-Fisherian and Fiscal Theory of Price Level are, and why they are important for understanding the current economic situation around the world.

Rodrik explained why good economists think in terms of models, and what are major differences between models and theory. He also told us why macroeconomists' quest to find "the one true model" on the business cycle is probably misguided.