The Scientific Illusion in Empirical Macroeconomics

1991/06/01 by Lawrence H. Summers
Economics, Econometrics and Finance · #Complex Systems and Time Series Analysis #Market Dynamics and Volatility #Monetary Policy and Economic Impact

paper · doi:10.2307/3440321

openalex publication_date 1991/06/01 · openalex created_date 2025/10/10 · openalex updated_date 2026/07/23

Abstract

Lawrence H. Summers, The Scientific Illusion in Empirical Macroeconomics, The Scandinavian Journal of Economics, Vol. 93, No. 2, Proceedings of a Conference on New Approaches to Empirical Macroeconomics (Jun., 1991), pp. 129-148

Citations

• Technical Change and the Aggregate Production Function
• The Relation Between Unemployment and the Rate of Change of Money Wage Rates in the United Kingdom, 1861–1957¹
• An Exact Consumption-Loan Model of Interest with or without the Social Contrivance of Money
• Macroeconomics and Reality
• Social Security, Induced Retirement, and Aggregate Capital Accumulation
• Time to Build and Aggregate Fluctuations
• A Course in Microeconomic Theory

Related

• Macroeconomics and Reality
• Complexity, causality, and expectations: Why macroeconomics needs a program of empirical microfoundations
• Why Economic Theories and Policies Fail? Unnoticed Variables and Overlooked Economics
• Is Econophysics a Solid Science?
• ‘Ergodicity Economics’ is Pseudoscience