Edward E.Leamer – Macroeconomic Patterns & Stories

Edward E.Leamer – Macroeconomic Patterns & Stories

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This book offers the wisdom and insight regarding the US economy from a well-known and distinguished econometrician who found himself first teaching macro economics to MBAs and then Directing the highly-regarded and widely-quoted UCLA/Anderson Forecast which provides quarterly forecasts for the US economy. Edward Leamer argues that “We are pattern-seeking story-telling animals.” He provides in this book the patterns and stories that are the basis for his understanding of what determines the business cycle and what determines long-run economic growth.  

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This book offers the wisdom and insight regarding the US economy from a well-known and distinguished econometrician who found himself first teaching macro economics to MBAs and then Directing the highly-regarded and widely-quoted UCLA/Anderson Forecast which provides quarterly forecasts for the US economy. Edward Leamer argues that “We are pattern-seeking story-telling animals.” He provides in this book the patterns and stories that are the basis for his understanding of what determines the business cycle and what determines long-run economic growth. Edward Leamer is the Chauncey J. Medberry Professor of Management, Professor of Economics, Professor of Statistics, Director of the UCLA/Anderson Business Forecast Project and Chief Economist of the Ceridian-UCLA Pulse of Commerce Index. (www.ceridianindex.com). Never drawn to the fads of the mainstream, Ed Leamer is known both for his creative thoughts and his engaging style of writing. Specification Searches makes the case that traditional statistical theory is helpful for studying experimental data but either misleading or nearly irrelevant for studying nonexperimental data. Macroeconomic Patterns and Stories is an engaging look at macroeconomic data built on the premise that “Economists are pattern-seeking, story-telling animals.” In his most recent book, The Craft of Economics, Leamer argues that economists are using mostly formal thinking and formal data analyses, and would do better work if they included informal approaches as well.