The substantial questions of macroeconomics itself are very old, going back to the origins of economics itself. But professional self-consciousness of the distinction between macroeconomics and microeconomics dates only to the 1930s. The distinction was drawn quite independently of Keynes, yet...

The potted histories of macroeconomics textbooks are typically Keynes-centric. Keynes is credited with founding macroeconomics, and the central developments in the field through the early 1970s, including large-scale macroeconometric models are usually termed "Keynesian." The story of...

A popular view of models among economists and philosophers alike is that all models are false, but some are useful. Models are frequently treated as convenient fictions, idealizations, stories about credible worlds, or "near enough" to the truth. But such a understandings pose serious questions,...

Economic methodology typically focuses on microeconomic theory. The Methodology of Empirical Macroeconomics breaks new ground by focusing instead on the genuine problems that arise for macroeconomists trying to relate theory to data

The difficulty of conducting relevant experiments has long been regarded as the central challenge to learning about the economy from data. The standard solution, going back to Haavelmo's famous quot;The Probability Approach in Econometricsquot; (1944), involved two elements: first, it placed...

Each chapter of Macroeconometrics is written by respected econometricians in order to provide useful information and perspectives for those who wish to apply econometrics in macroeconomics. The chapters are all written with clear methodological perspectives, making the virtues and limitations of...