The present financial and economic crisis has revealed a systemic failure of academic economics and emphasized the need to re-think how to model economic phenomena. Lawson (2009) seems concerned that critics of standard models now will fill academic journals with contributions that make the same...

An explication of the key ideas behind the Cointegrated Vector Autoregression Approach. The CVAR approach is related to Haavelmo's famous quot;Probability Approach in Econometricsquot; (1944). It insists on careful stochastic specification as a necessary groundwork for econometric inference and...

Økonomien er selve grundlaget for vores samfundsindretning og for politikken. Men den økonomiske videnskab har med sine stadig mere abstrakte og matematiske modeller mistet realitetssansen og mangler forankring i den sociale, menneskelige virkelighed, som den faktisk ser ud. I?Økonomien og...