The Structure of the Spatial Theory of Elections

Balzer, Wolfgang; Dreier, Volker

doi:10.1093/bjps/50.4.613

Cited by 4 publications

(1 citation statement)

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“…Differing from Rodrik's horizontal expansion, model development in macroeconomics appears, at least at the outset, to proceed along the lines proposed by Ylikoski and Aydinonat (2014), who emphasize the notion of a model family (see also Balzer and Dreier 1999). According to Aydinonat and Ylikoski, a model family is formed around a set of critical assumptions (the central mechanism), which remains the same within the family, and testing the robustness of the main results is essential to the empirical interpretability of the model family as a whole (see also Kuorikoski 2 Thus, when Bernanke and Gertler (1989), for example, formalized the financial accelerator in a general equilibrium framework they started a model family because several later papers used their framework.…”

Section: What Is Model Selection?mentioning

confidence: 99%

Model selection in macroeconomics: DSGE and ad hocness

Kuorikoski

Lehtinen

2018

Journal of Economic Methodology

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We investigate the applicability of Rodrik's accounts of model selection and horizontal progress to macroeconomic DSGE modelling in both academic and policy-oriented modelling contexts. We argue that the key step of identifying critical assumptions is complicated by the interconnectedness of the common structural core of DSGE models and by the ad hoc modifications introduced to model various rigidities and other market imperfections. We then outline alternative ways in which macroeconomic modelling could become more horizontally progressive.

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Section: What Is Model Selection?mentioning

confidence: 99%