TY - JOUR
T1 - The ordinary business of macroeconometric modeling: working on the Fed-MIT-Penn model, 1964-74
AU - Backhouse, Roger
AU - Cherrier, B
PY - 2019
Y1 - 2019
N2 - Using the FMP model as an example, this article examines the practices of macroeconometric modelers around 1970. It is argued that, for all the criticism such methods have received, they represented conscious choices made because modelers had objectives and criteria that were different from those of later critics. For example, where critics saw a lack of theoretical consistency, modelers saw and valued flexibility.
AB - Using the FMP model as an example, this article examines the practices of macroeconometric modelers around 1970. It is argued that, for all the criticism such methods have received, they represented conscious choices made because modelers had objectives and criteria that were different from those of later critics. For example, where critics saw a lack of theoretical consistency, modelers saw and valued flexibility.
UR - https://read.dukeupress.edu/hope/article/51/3/425/137806/The-Ordinary-Business-of-Macroeconometric
U2 - 10.1215/00182702-7551852
DO - 10.1215/00182702-7551852
M3 - Article
VL - 51
SP - 425
EP - 447
JO - History of Political Economy
JF - History of Political Economy
SN - 0018-2702
IS - 3
ER -