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- W1574755330 abstract "I have been given the daunting task of discussing how the debate among the various schools of business cycle theorists might be resolved. People obviously differ in how they think the macroeconomy works. Will there ever be a winner? I am optimistic enough to think so, although I view the last two decades as making only modest progress in this direction. One problem is that there is too little testing of alternative models. There has been no systematic attempt to find the model that best approximates the macroeconomy. As disturbing, however, is the fact that macroeconomic research appears to be moving away from its traditional empirical emphasis. I will elaborate on both points in this chapter.KeywordsRoot Mean Square ErrorBusiness CycleEndogenous VariableRational ExpectationPosterior OddsThese keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves." @default.
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- W1574755330 date "1992-01-01" @default.
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- W1574755330 title "The Cowles Commission Approach, Real Business Cycle Theories, and New-Keynesian Economics" @default.
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- W1574755330 doi "https://doi.org/10.1007/978-94-011-2956-5_4" @default.
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