Tuesday, September 15, 2009

What's Wrong with Macroeconomics?

Mark Thom, Dept of Econ, U of Oregon has accumulated a list of links to articles by economists navel-gazing...

Some recent contributions to "what's wrong with macroeconomics?":
Nick Rowe: John Cochrane, Paul Krugman, and Say's Law, again
Brad Delong: In Which Nick Rowe Says John Cochrane Commits "Small But important" Errors...
Free Exchange: Which caricature do you prefer?
Mario Rizzo: The Great Moderation in Macroeconomics
Vernon Smith and David Colander: Causes of the Crisis
Robert Gordon: Is Modern Macro or 1978-era Macro More Relevant to the Understanding of the Current Economic Crisis? [introduction posted below]
David Warsh: Economics and Its Discontents [posted below]
Paul Krugman: Freshwater Rage [posted below]
Update Brad DeLong: More Musings on the Total Intellectual Train Wreck that is Today's Chicago School...
Update Free Exchange: What the economists aren't explaining
Update Barkley Rosser: How Seriously Wrong John Cochrane Is

Paul Krugman: How Did Economists Get It So Wrong?
Barry Eichengreen: The Last Temptation of Risk
Philip Lane: Economists and the Crisis
David Altig: Economists got it wrong, but why?
John Cochrane: How did Paul Krugman get it so Wrong?
David Laidler: Lucas, Keynes, and the Crisis
Mark Thoma "The Great Multiplier Debate"
Antonio Fatas and Ilian Mihov: Did economists ever get it right?
The Economist: Lucas Roundtable (Lucas)
The Economist: What went wrong with economics
The Economist: The other-wordly philosophers
The Economist: Efficiency and beyond
Cosmic Variance: Mistaking Beauty for Truth
Mark Gertler: The State of Macroeconomics (scroll down)
Willem Buiter The unfortunate uselessness of most ’state of the art’ academic monetary economics
Mark Thoma "The Unfortunate Uselessness of Most 'State of the Art' Academic Monetary Economics"
Tim Harford Are those who sweat the big stuff in meltdown?
Francesco Caselli: Economists are actively engaged in seeking remedies to the crisis
Mark Thoma Macroeconomic Meltdown?
Daniel Kahneman: Irrational everything
Mark Thoma: Are Macroeconomic Models Useful?
Roman Frydman: Mathematical Formalism in Economics
Dani Rodrik: Blame economists, not economics
Mark Thoma The State of Macroeconomics (scroll down)
George Waters: "Equilibrium and Meltdown"
Paul Krugman and Roman Frydman: "The Gratuitous Ignorance of Many of our Economists"
Mark Thoma: Can Econometricians Tell Us which Macroeconomic Model is Best?
David Colander, Hans Föllmer, Armin Haas, Michael Goldberg, Katarina Juselius, Alan Kirman, and Thomas Lux The Financial Crisis and the Systemic Failure of Academic Economics
Kenneth Arrow: Risky business

and ill add one more by a 19 year old student:
The Curious Case of Macroeconomics

he is asking for more links on this post:
What's Wrong with Macroeconomics?

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