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This paper seeks to convince historians that asking how tractability has shaped individual and collective modeling choices in economics is a worthy question. To do so, I first survey the economic methodology literature on tractability, one that grew out of methodologists’ attempts to dissect...
Persistent link: https://www.econbiz.de/10014078681
The FMP model exemplifies the Keynesian models later criticized by Lucas, Sargent and others as conceptually flawed. For economists in the 1960s such models were “big science”, posing organizational as well as theoretical and empirical problems. It was part of an even larger industry in...
Persistent link: https://www.econbiz.de/10012909475
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