Artikel
Economists, incentives, judgment, and the European CVAR approach to macroeconometrics
This paper argues that the DSGE approach to macroeconometrics is the dominant approach because it meets the institutional needs of the replicator dynamics of the profession, not because it is necessarily the best way to do macroeconometrics. It further argues that this 'DSGE theory-first' approach is inconsistent with the historical approach that economists have advocated in the past and that the alternative European CVAR approach is much more consistent with economist's historically used methodology, correctly understood. However, because the European CVAR approach requires explicit researcher judgment, it does not do well in the replicator dynamics of the profession. The paper concludes with the suggestion that there should be an increase in dialog between the two approaches.
- Sprache
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Englisch
- Erschienen in
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Journal: Economics: The Open-Access, Open-Assessment E-Journal ; ISSN: 1864-6042 ; Volume: 3 ; Year: 2009 ; Issue: 2009-9 ; Pages: 1-21 ; Kiel: Kiel Institute for the World Economy (IfW)
- Klassifikation
-
Wirtschaft
- Thema
-
Methodology
macroeconometrics
general to specific
DSGE
VAR
judgment
incentives
Makroökonomik
Dynamisches Gleichgewicht
VAR-Modell
Wissenschaftliche Methode
Vergleich
Publikationsanalyse
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Colander, David C.
- Ereignis
-
Veröffentlichung
- (wer)
-
Kiel Institute for the World Economy (IfW)
- (wo)
-
Kiel
- (wann)
-
2009
- DOI
-
doi:10.5018/economics-ejournal.ja.2009-9
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:43 MEZ
Datenpartner
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Artikel
Beteiligte
- Colander, David C.
- Kiel Institute for the World Economy (IfW)
Entstanden
- 2009
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