This session aimed to gain insight into the macroeconomic models and inputs used at the decision-making level. In his talk, Robert Arnold, Congressional Budget Office (CBO), echoed Stock by stressing ...

Macroeconomics studies an overall economy or market system, its behaviors, the factors that drive it, and how to improve its performance.

The macro economy, like the global climate, is a complex system (highly nonlinear and buffeted by random shocks) that defies attempts to model it and predict its future path. The challenge of ...

Marx never made claims about economic theories as science. He pointed out the mechanisms of capitalism and that some of the negative effects of capitalism were inevitable due to the way capitalism ...

Macroeconomic models play a crucial role in decision making and federal budget planning but may not fully account for the economic disruptions caused by extreme climate-related impacts (e.g., extreme ...