Add to ORKGProfessor Crotty once casually observed that in his view economics could not be properly thought of as a science. This paper investigates the implications of this view in light of the question of how the scientific method has recently contributed to the evolution of economic practice. It is argue that agent-based models might provide a platform for an integration of recent micro and macroeconomic theories
The recent crisis of 2008 has revealed several challenges for the economic science, sparking a consi...
Such persistent failure by macroeconomists deserves explanation. What do economists actually do? Are...
The standard macroeconomic models have failed, by all the most important tests of scientific theory....
This paper was written as the first draft of the invited Foreword for the book, Money and the Econom...
We are entering the third decade of the twenty-first century with profound uncertainties and crucial...
Yet again the failure of mainstream economics to address an economic crisis has promoted the idea th...
In this paper we sketch some reflections on the pitfalls and inconsistencies of the research program...
Are current economic models well equipped to provide useful policy prescriptions? Many economists wo...
Are current economic models well equipped to provide useful policy prescriptions? Many economists wo...
Macroeconomic theory has developed into increasingly sophisticated mathematical models. In the words...
The sudden financial crash of 2008 and the failure of economists to adequately predict the crisis ha...
This paper argues that macro models should be as simple as possible, but not more so. Existing model...
The recent economic events driven by the big financial crisis of 2007-08 has cogently put to the for...
In this paper we sketch some reflections on the pitfalls and inconsistencies of the research program...
“I conclude with an unworthy hypothesis regarding past and present directions of economic research. ...
The recent crisis of 2008 has revealed several challenges for the economic science, sparking a consi...
Such persistent failure by macroeconomists deserves explanation. What do economists actually do? Are...
The standard macroeconomic models have failed, by all the most important tests of scientific theory....
This paper was written as the first draft of the invited Foreword for the book, Money and the Econom...
We are entering the third decade of the twenty-first century with profound uncertainties and crucial...
Yet again the failure of mainstream economics to address an economic crisis has promoted the idea th...
In this paper we sketch some reflections on the pitfalls and inconsistencies of the research program...
Are current economic models well equipped to provide useful policy prescriptions? Many economists wo...
Are current economic models well equipped to provide useful policy prescriptions? Many economists wo...
Macroeconomic theory has developed into increasingly sophisticated mathematical models. In the words...
The sudden financial crash of 2008 and the failure of economists to adequately predict the crisis ha...
This paper argues that macro models should be as simple as possible, but not more so. Existing model...
The recent economic events driven by the big financial crisis of 2007-08 has cogently put to the for...
In this paper we sketch some reflections on the pitfalls and inconsistencies of the research program...
“I conclude with an unworthy hypothesis regarding past and present directions of economic research. ...
The recent crisis of 2008 has revealed several challenges for the economic science, sparking a consi...
Such persistent failure by macroeconomists deserves explanation. What do economists actually do? Are...
The standard macroeconomic models have failed, by all the most important tests of scientific theory....