> Roger Backhouse, université de Birmingham
> Béatrice Cherrier, université de Caen
'We argue that economists' empirical practices need to be central to any history of macroeconomics. The Keynesian revolution was driven as much by changed empirical practices as by theoretical innovation and the most important element in the New Classical revolution was arguably the Lucas critique of macroeconometric modeling. After sketching such a history we study the MIT-Penn-Federal Reserve model. Motivated by the monetarist controversy and the Fed's need for policy guidance, the model involved messy compromises between theory, econometric methods and IT constraints. The model was an integral part of the history of macroeconomics and not just a spin-off from an autonomous theoretical development.'
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