The future of macroeconomics: macro theory and models at the Bank of England
The adoption as policy models by central banks of representative agent New Keynesian dynamic stochastic general equilibrium models has been widely criticised, including for their simplistic micro-foundations. At the Bank of England, the previous generation of policy models is seen in its 1999 medium...
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| Format: | Working paper |
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University of Oxford
2017
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The future of macroeconomics: macro theory and models at the Bank of England
Published 2018
Journal article