Today, let me draw your attention to this very interesting JEL article. It provides a superb overview of macroeconomic research during the last 40 years. As the authors, P. J. Glandon, Ken Kuttner, Sandeep Mazumder, and Caleb Stroup, mentioned: “It is tough to make predictions (especially about the future), so we will leave the state of macroeconomics in 2063 as a fruitful topic for future research.” See you in 40 years in 2063!
How is macroeconomic research conducted and what is it trying to accomplish? We explore these questions using information gleaned from 1,894 articles published in 10 leading journals. The emphasis on quantitative, computation-intensive theory-based analysis has grown over the past 40 years, while the use of econometric methods to test economic hypotheses has diminished. Applied micro techniques and micro data have displaced time series methods. Market imperfections are pervasive and financial frictions have received increasing attention in the past 10 years. The frequency with which non-macro JEL codes appear in macro articles indicates a great deal of overlap between macroeconomics and other fields.
Glandon, P. J., Ken Kuttner, Sandeep Mazumder, and Caleb Stroup. 2023. “Macroeconomic Research, Present and Past.” Journal of Economic Literature, 61 (3): 1088-1126.DOI: 10.1257/jel.20211609
The Data and Code for: Macroeconomic Research, Present and Past for this example is available on my GitHub: https://github.com/JamelSaadaoui/EconMacroBlog. All the credits go to the authors: Philip Glandon, Kenyon College; Ken Kuttner, Williams College; Caleb Stroup, Davidson College; Sandeep Mazumder, Baylor University