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Rodrik tells us that good economists think in terms of models, and there are major differences between models and theory. He also comments on macroeconomists quest on finding the "one true model" on the business cycle,
In the interview, Ricardo Reis discuss with us his latest research project - "Reservism", the study of the role of reserves on central bank balance sheets and their implications for central bank solvency, quantitative easing, and the ability to control inflation.
>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.
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.
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...