Macro Model Data Base drives change in economics ("Finanz und Wirtschaft")

After the financial crisis and the upheavals in monetary policy, regulation, and globalization, the economic sciences are urged to answer many questions. The Swiss financial paper "Finanz und Wirtschaft" analyzes the theories and approaches the economic sciences have come up with, putting special emphasis on the Macroeconomic Model Data Base.

"We're in the middle of a creative phase, a key growth area", Prof. Volker Wieland said in an interview with "Finanz und Wirtschaft" regarding the current situation. With the Macroeconomic Model Data Base Wieland had found "the most innovative approach" to drive the change and also involve critics, "Finanz und Wirtschaft" wrote. Researchers can contribute their models to the open data base so other researchers are able to replicate and possibly improve them, an "open source system in the service of science".

Link to the source. Finanz und Wirtschaft: "Die Ökonomie erfindet sich neu"

Published by: Andrij Stachurski

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