Is Empirical Macroeconomics a Discipline ?

La macroéconomie est-elle une discipline empirique ?

Redouane Taouil ()
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Redouane Taouil: CREG - Centre de recherche en économie de Grenoble - UGA [2016-2019] - Université Grenoble Alpes [2016-2019]

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Abstract: Econometric techniques have turned macroeconomics into an empirical discipline. Yet, once the core concepts are examined, the empirical statements can neither invalidate nor select between the various theoretical proposals. Furthermore, the Dynamic Stochastic General Equilibrium method (DSGE) relies on a whole series of hypothesis that give precedence to theory. Empirical validation as a criterion for the evaluation both of the content of those models and of their progress is therefore excluded.

Keywords: the new synthesis; dynamic stochastic general equilibrium; econometric; empirical; primacy of theory; macroéconomie; théorie macroéconomique; économétrie; économie empirique (search for similar items in EconPapers)
Date: 2018
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Published in Revue d'histoire de la pensée économique, 2018, 2 (6), pp.117-139

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:halshs-01972953

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