All Outputs (3)

DSGE models and the Lucas Critique. A historical appraisal
Working Paper
Sergi, F. (2018). DSGE models and the Lucas Critique. A historical appraisal. Economics Working Papers

This contribution to the history of the economic thought aims at describing how “Econometric Policy Evaluation: A Critique” (Lucas, 1976) has been interpreted through four decades of debates. This historical appraisal clarifies how Lucas’s argument i... Read More about DSGE models and the Lucas Critique. A historical appraisal.

Reacting to the Lucas Critique: The Keynesians' pragmatic replies
Working Paper
Goutsmedt, A., Pinzon-Fuchs, E., Renault, M., & Sergi, F. (2017). Reacting to the Lucas Critique: The Keynesians' pragmatic replies. Paris, France

We illustrate how the Lucas Critique was called into question by Keynesian macroeconomists during the 1970s and 1980s. Our claim is that Keynesians' reactions were carried out from a pragmatic approach, which addressed the empirical and practical rel... Read More about Reacting to the Lucas Critique: The Keynesians' pragmatic replies.

Robert Lucas and the twist of modeling methodology. On some econometric methods and problems in New Classical macroeconomics
Working Paper
Sergi, F. (2015). Robert Lucas and the twist of modeling methodology. On some econometric methods and problems in New Classical macroeconomics. Paris

The purpose of this contribution to the epistemology and history of recent macroeconomics is to construct a clear understanding of econometric methods and problems in New Classical macroeconomics. Most historical literature has focused (so far) on... Read More about Robert Lucas and the twist of modeling methodology. On some econometric methods and problems in New Classical macroeconomics.