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picture1_Economic Policy Pdf 129350 | 323892332


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 103x       Filetype PDF       File size 0.61 MB       Source: core.ac.uk


File: Economic Policy Pdf 129350 | 323892332
View metadata, citation and similar papers at core.ac.uk brought to you by CORE provided by UWE Bristol Research Repository DSGE Models and the Lucas Critique. A Historical Appraisal ...

icon picture PDF Filetype PDF | Posted on 01 Jan 2023 | 2 years ago

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...View metadata citation and similar papers at core ac uk brought to you by provided uwe bristol research repository dsge models the lucas critique a historical appraisal francesco sergi university of west england economics working paper series dsgemodels ahistorical abstract this contribution history economic thought aims describing how econometric policy evaluation has been interpreted through four decades debates claries s argument is currently under stood discussed within dynamic stochastic general equilibrium approach article illustrates two opposite interpretations lu cas arose in early on one hand theoretical interpretation championed real business cycle rbc other an empirical advocated keynesians both can be understood as addressing common question do microfoundations imply parame ters stability following micro foundations conversely for parameters or instability should supported evidence rather than considerations furthermore argues that represent fragile compromise between thes...
								

							

						
	
												
				
					
					
					
			
					
				
				
		
	

	
		





	

	
				

						

						
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Posted on: 01 Jan 2023 | 2 years ago
										
										
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