Baddeley, Michelle - In: European Journal of Economics and Economic Policies: … 11 (2014) 1, pp. 99-112
In the aftermath of the financial crisis, macroeconomics is at a crossroads: on the one hand, the analytically rigorous, assumption-based approaches based on dynamic stochastic general equilibrium (DSGE) models lack intuitive plausibility and predictive power; on the other hand, alternative...