On the Role of Theory and Evidence in Macroeconomics

Katarina Juselius

No 10-12, Discussion Papers from University of Copenhagen. Department of Economics

Abstract: This paper, which is prepared for the Inagural Conference of the Institute for New Economic Thinking in King's College, Cambridge, 8-11 April 2010, questions the preeminence of theory over empirics in economics and argues that empirical econometrics needs to be given a more important and inde- pendent role in economic analysis, not only to have some confidence in the soundness of our empirical inferences, but to uncover empirical regularities that can serve as a basis for new economic thinking.

Pages: 20 pages
Date: 2010-04
New Economics Papers: this item is included in nep-hpe
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Chapter: On the Role of Theory and Evidence in Macroeconomics (2011)
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