Literaturbeitrag / Review Paper. Macroeconometric Models – From “Little Science” to “Big Science”

Heilemann Ullrich ()
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Heilemann Ullrich: Institut für Empirische Wirtschaftsforschung (IEW), Universität Leipzig, Grimmaische Straße 12–14, 04109 Leipzig, Germany, and Fraunhofer Center for Central and Eastern Europe, Neumarkt 9–19, 04109 Leipzig, Germany

Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik), 2015, vol. 235, issue 1, 82-89

Abstract: This is a fine, useful book on the history and structure of macroeconometric models. Its perspective is “applied” and has a “positivistic bias”. It gives a good (or not so good) picture of the state of the art. The problems of the now “Big Science” deserve more attention than the modelling community (and Welfe) so far has been willing to pay. The trend towards ever larger policy-relevant models will continue. However, few of them are accessible to third parties. “Transparency”, a major goal models had once started to increase, continues to get out of sight.

Keywords: Structural macroeconometric models; perspectives of model development; model transparency (search for similar items in EconPapers)
Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:jns:jbstat:v:235:y:2015:i:1:p:82-89

DOI: 10.1515/jbnst-2015-0107

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