Journal of Economic Methodology 25 (3):252-264 (2018)

Jaakko Kuorikoski
University of Helsinki
ABSTRACTWe 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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DOI 10.1080/1350178X.2018.1488563
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References found in this work BETA

Economic Modelling as Robustness Analysis.Jaakko Kuorikoski, Aki Lehtinen & Caterina Marchionni - 2010 - British Journal for the Philosophy of Science 61 (3):541-567.
Understanding with Theoretical Models.Petri Ylikoski & N. Emrah Aydinonat - 2014 - Journal of Economic Methodology 21 (1):19-36.
On Ad Hoc Hypotheses.J. Christopher Hunt - 2012 - Philosophy of Science 79 (1):1-14.
Ad Hoc Auxiliary Hypotheses and Falsificationism.Adolf Grünbaum - 1976 - British Journal for the Philosophy of Science 27 (4):329-362.

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Model Diversity and the Embarrassment of Riches.Walter Veit - 2021 - Journal of Economic Methodology 28 (3):291-303.

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