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Blanchard’s “Policy Model” v “Theory Model”

Back in November last year, Professor Olivier Blanchard discussed with me about his view that there should be four types of macroeconomics, and "theory...

Interviews

Economics Rules – Why Economists do it with Models | Q&A with Dani Rodrik

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.