From 6 April 2017 09:00 to 7 April 2017 15:45

Conference History of Macro-econometric Modeling

On 6 and 7 April 2017 the conference 'History of Macro-econometric Modeling' will take place. This conference is based on the assumption tat macroeconometric modeling should be seen as central to the development of macroeconomics. It is organised and supported by the Descartes Centre, the European Society for the History of Economic Thought (ESHET), the Royal Netherlands Academy of Arts and Sciences (KNAW), and the Tjalling Koopmans Institute (U.S.E. research Institute).

Macroeconometric models were the way in which insights from macroeconomic theory were applied to policy. For example, the construction and running of large macroeconometric models was a major activity in many treasuries and central banks. Such models and models based on competing methodological approaches were a major element in the testing and development of macroeconomic theories and in attempts to resolve controversies, such that between Keynesianism and monetarism or between and new classicals and new Keynesians.


Whilst university economics departments have been very important, it is impossible to provide a serious history of macroeconometric modeling without taking into account the varied institutional settings in which it has been undertaken—treasuries, central banks, independent research institutes, international organizations (including the International Monetary Fund, the World Bank, the Organization for Economic Cooperation and Development, and the United Nations) and private consultancy organizations. There are also different national traditions in such work and in its relationship to policy making.


Thursday 6 April

Reshaping the face of empirical macroeconomics:

The Rise of VAR Analysis

Pedro Garcia Duarte

Kevin D. Hoover

10:00-10:45 Lawrence R. Klein and the making of large-scale macro-econometric modelling Erich Pinzon-Fuchs Approaches
11:15-12:00 How schools of thoughts in macroeconomics strategized over Solow’s residual Aurélien Saidi Approaches
12:15-13:00 Christopher Sims: making visible the invisible Boris Salazar Approaches
14:00-14:45 MIT-Penn-Federal Reserve model

Roger Backhouse

Beatrice Cherrier



Competition and evolution: Macroeconometric models during 1955-1976 Hsiang-Ke Chao


16:15-17:00 The evolution of macroeconomics through the prism of stagflation explanations Aurélien Goutsmedt Models


Friday 7 April

Development planning without theory

Marcel Boumans

Planning & Policy
10:00-10:45 Macroeconometric models and planning. The multi-sector growth model Verena Halsmayer Planning & Policy
11:15-12:00 The Vatican on the role of econometric models Ariane Dupont-Kieffer Planning & Policy
12:15-13:00 Reacting to the Lucas Critique. Some Keynesian Pragmatic Replies Francesco Sergi Planning & Policy
14:00-14:45 Franco Modigliani on the Financial Sector: his journey from high theory to macroeconometric modelling

Goulven Rubin



The MPS model and post war monetary debate (1960s-1970s) Antonella Rancan



Start date and time
6 April 2017 09:00
End date and time
7 April 2017 15:45
Entrance fee