Veteran economists weigh in on ‘rebuilding’ macro theory

Olivier Blanchard believes DSGE models should be preserved, but supplemented

Several top economists have come together to give their thoughts on how it might be possible to rescue the core model of New Keynesian macroeconomics from its critics.

The series of papers, published in the Oxford Review of Economic Policy on January 5, tackle the question of how best to repair the dynamic stochastic general equilibrium (DSGE) model that underpins so much macroeconomic analysis. The articles are free to read until February 7.

Broadly, most of those contributing say the model

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

Register for Central Banking

All fields are mandatory unless otherwise highlighted

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account