The Methodology of Empirical Macroeconomics

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Cambridge University Press, Oct 11, 2001 - Business & Economics - 186 pages
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Economic methodology typically focuses on microeconomic theory. The Methodology of Empirical Macroeconomics breaks new ground by focusing instead on the genuine problems that arise for macroeconomists trying to relate theory to data. It demonstrates that with careful attention to actual macroeconomic practice, economic methodology and the philosophy of science help to resolve problems faced by working macroeconomists. Some issues addressed are: the relationship between theoretical models and empirical observations; microfoundations for macroeconomics; the scope and nature of economic laws, the role of idealizations, methodological individualism, and the problem of causality.
  

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User Review  - thcson - LibraryThing

I enjoyed reading the book and I liked the author's philosophical approach to macroeconomics, but the short format dictated by the lectures on which this book was based was just a bit too limited for ... Read full review

Contents

Preface
ix
Some Methodological Problems in Macroeconomics
1
Are There Macroeconomic Laws?
17
Does Macroeconomics Need Microfoundations?
57
Causality in Macroeconomics
89
Pragmatism Realism and the Practice of Macroeconomics
135
Bibliography
169
Index
179
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About the author (2001)

Kevin D. Hoover is Professor of Economics and Philosophy at Duke University. A graduate of the College of William and Mary, he received his doctorate from the University of Oxford. He developed his interest in applied macroeconomics early in his career while working at the Federal Reserve Bank of San Francisco. Before moving to Duke, Hoover taught economics at the University of California, Davis, and at Oxford. He is the author of The New Classical Macroeconomics (1988), Causality in Macroeconomics (Cambridge University Press, 2001) and The Methodology of Empirical Macroeconomics (Cambridge University Press, 2001), as well as nine edited volumes and more than 100 academic articles on macroeconomics, monetary economics, econometrics, the methodology and philosophy of economics, and the history of economic thought. He is past chairman of the International Network for Economic Method, the past president of the History of Economics Society and a former editor of the Journal of Economic Methodology. He is currently the editor of the journal History of Political Economy and a Fellow of the Center for the History of Political Economy at Duke University.

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