economics

  • Extreme Makeover: Science Edition

    Extreme Makeover: Science Edition0

    2016 gave us an American president-elect despite never having served in elected office. It also marked an historic turning point in the European project when a key member voted to leave. These events, in the minds of many, cemented the phenomenon of the ‘post-truth’ paradigm where slapdash opinions have garnered widespread favour atop ‘facts’. The architects of previous sacrosanct-held facts, the sciences, and especially the economics profession, require a makeover. 

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  • Policy dead-end: Central Banks’ continued use of DSGE Models

    Policy dead-end: Central Banks’ continued use of DSGE Models0

    The financial crisis ushered in an era where monetary policy has been disproportionately tasked with mending a sluggish economy. Central banks have taken, far from their original remit, extraordinary, and historically unprecedented steps in an attempt to boost economic activity, stabilise financial markets and spur inflation. With central banks wielding ever-greater influence on economic policy, the continued use of questionable policy-setting models, such as the Dynamic Stochastic General Equilibrium or DSGE model, should be reviewed.

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