The Possibility of Ideological Bias in Structural Macroeconomic Models
| Autor: | Gilles Saint-Paul |
|---|---|
| Přispěvatelé: | Paris School of Economics (PSE), École des Ponts ParisTech (ENPC)-École normale supérieure - Paris (ENS Paris), Université Paris sciences et lettres (PSL)-Université Paris sciences et lettres (PSL)-Université Paris 1 Panthéon-Sorbonne (UP1)-Centre National de la Recherche Scientifique (CNRS)-École des hautes études en sciences sociales (EHESS)-Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement (INRAE), Paris Jourdan Sciences Economiques (PJSE), Université Paris 1 Panthéon-Sorbonne (UP1)-École normale supérieure - Paris (ENS Paris), Université Paris sciences et lettres (PSL)-Université Paris sciences et lettres (PSL)-École des hautes études en sciences sociales (EHESS)-École des Ponts ParisTech (ENPC)-Centre National de la Recherche Scientifique (CNRS)-Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement (INRAE), Université Panthéon-Sorbonne (UP1)-École normale supérieure - Paris (ENS Paris)-Institut National de la Recherche Agronomique (INRA)-École des hautes études en sciences sociales (EHESS)-École des Ponts ParisTech (ENPC)-Centre National de la Recherche Scientifique (CNRS) |
| Jazyk: | angličtina |
| Rok vydání: | 2018 |
| Předmět: |
Macroeconomics
jel:A11 Keynesian economics media_common.quotation_subject As is 05 social sciences Political Economy Autocoherence Experts Macroeconomic modelling Bias Keynesian cross [SHS.ECO]Humanities and Social Sciences/Economics and Finance Macroeconomic model 0502 economics and business Economics Multiplier (economics) Ideology jel:E6 050207 economics General Economics Econometrics and Finance Phillips curve 050205 econometrics media_common |
| Zdroj: | American Economic Journal: Macroeconomics American Economic Journal: Macroeconomics, American Economic Association, 2018, 10 (1), pp.216-241 |
| ISSN: | 1945-7707 |
| Popis: | An ideologically biased expert faces trade-offs in model design. The perceived model must be autocoherent—its use by all agents delivers a self-confirming equilibrium. Policy may be influenced by manipulating the Keynesian multiplier or the Phillips curve parameters. Ideological bias may arise in a way that resembles well-known historical controversies. A larger reported Keynesian multiplier is favored by more left-wing economists, as is a flatter inflation output trade-off. Some combinations of parameters must be truthfully revealed, illustrating the tight link between parameter identification and the scope for bias that is implied by the autocoherence conditions. (JEL A11, D72, E12, E13, E52, E61, E62) |
| Databáze: | OpenAIRE |
| Externí odkaz: |
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