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Mapping types of macromodel to types of macro user
Oxford Review of Economic Policy ( IF 6.326 ) Pub Date : 2021-01-19 , DOI: 10.1093/oxrep/graa013
Simon Wren-Lewis 1
Affiliation  

This paper expands on a list of different types of macroeconomic model proposed by Olivier Blanchard. The paper distinguishes between models that range between simple and complex, and between models that range in their focus between data consistency and theoretical consistency. While model users in the private sector and the public sector use a range of different types of model, academics confine themselves largely to models that are internally consistent in terms of their theory. The paper argues that the use of a wider range of models outside academia can no longer be explained by the novelty of DSGE models, and instead reflects some intrinsic advantages of other types of model. Finally the paper considers whether this difference in model use between sectors is beneficial.

中文翻译:

将宏模型的类型映射到宏用户的类型

本文扩展了由奥利维尔·布兰查德(Olivier Blanchard)提出的一系列不同类型的宏观经济模型。本文区分了介于简单和复杂之间的模型,以及介于数据一致性和理论一致性之间的模型。尽管私营部门和公共部门的模型用户使用各种不同类型的模型,但学者们在很大程度上将自己局限于理论上内部一致的模型。该论文认为,学术界以外的更多模型的使用不再能够通过DSGE模型的新颖性来解释,而是反映了其他类型模型的某些固有优势。最后,本文考虑了部门之间使用模型的差异是否有益。
更新日期:2021-01-20
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