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Where Modern Macroeconomics Went Wrong

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NBER2017-09-01 更新2025-01-04 收录
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This paper provides a critique of the DSGE models that have come to dominate macroeconomics during the past quarter-century. It argues that at the heart of the failure were the wrong microfoundations, which failed to incorporate key aspects of economic behavior, e.g. incorporating insights from

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2017-09-01
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