Modern Macro Perspectives

We finish our macro theme for now, with some interesting modern perspectives. Both some important discussion about the need for, and the purpose of, economic modeling; Thomas John Sargant and Christopher A. Sims will take us there. They got the prize jointly in 2011, and disagree on some important points. We start with Robert Mundell – cheeky called the father of the Euro - who got the prize in 1999, whose ideas might be scaringly more relevant these days.

In season 1 (Danish) we reviewed the history of economic thought before WWII. The coming seasons are dedicated to the Nobel Prize in Economics, and I am joined by economist Otto Brøns-Petersen. The Nobel prize is a good benchmark for how the field and profession of economics developed after WWII. We will focus both on the scientific contributions and on the people behind them. These are all star economists and worthy of your time and attention. Some will mainly feature in one episode, others in several. We therefore advice that you listen in the thematic order we propose – but it is up to you. Rest assured, we will cover all… Eventually.

References

1971 Princeton tract The dollar and the policy mix is credited with founding supply-side economics (Bartlett 1971, p 101).

Macroeconomic Features of the French Revolution, jpurnal of political economy

Video: https://www.facebook.com/watch/?v=627150095324225

Thomas J. Sargent Banquet Speech (2011): https://www.nobelprize.org/prizes/economic-sciences/2011/sargent/speech/

Thomas J. Sargent Prize Lecture (2011): https://www.nobelprize.org/prizes/economic-sciences/2011/sargent/lecture/

Christopher A. Sims Prize Lecture (2011): https://www.nobelprize.org/prizes/economic-sciences/2011/sims/lecture/

Robert Mundell Banquet Speech (1999): https://www.nobelprize.org/prizes/economic-sciences/1999/mundell/speech/

Robert Mundell Prize Presentation (1999): https://www.nobelprize.org/prizes/economic-sciences/1999/mundell/lecture/