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Monthly Archives: November 2016

What is Hysteresis?

Hysteresis is referred to the hypothesis that recessions may have permanent effects on the level of output relative to trend.

What is New Keynesian DSGE Models?

DSGE is a methodology for a wide range of macroeconomics models. One of the most common formulations is the so-called New Keynesian model. New Keynesian economics can be interpreted as an effort to combine the methodological tools developed by real business cycle theory with some of the central tenets of Keynesian economics tracing back to Keynes’ own General Theory.

The model you should use to explain Macroeconomics to your Mum | Q&A with Olivier Blanchard

Blanchard Cover Photo
>Professor Olivier Blanchard further explained the role empirical research on DSGE models, how to teach undergraduates macro after the Great Recession, and his research on hysteresis.

DSGE model and the State of Macroeconomics | Q&A with Olivier Blanchard |

In this interview, Blanchard discussed his view on the role of DSGE model in modern Macroeconomics and policymaking. He also explained his decision to rewrite his macroeconomics textbooks after the Great Recession. His recent research on hysteresis was also discussed.

Economy