On the Role of Theory and Evidence in Macroeconomics

Katarina Juselius

On the Role of Theory and Evidence in Macroeconomics

Department of Economics

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Abstract

This paper, which is prepared for the Inagural Conference of the Institute for New Economic Thinking in King's College, Cambridge, 8-11 April 2010, questions the preeminence of theory over empirics in economics and argues that empirical econometrics needs to be given a more important and independent role in economic analysis, not only to have some confidence in the soundness of our empirical inferences, but to uncover empirical regularities that can serve as a basis for new economic thinking.

Original language	English
Publisher	Department of Economics, University of Copenhagen
Number of pages	20
Publication status	Published - 2010

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On the Role of Theory and Evidence in Macroeconomics

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