Experience Stern | Faculty & Research

Excerpt from The New York Times -- "Paul Romer is a highly regarded macroeconomist who recently became chief economist at the World Bank. (It was Romer who is credited with having coined, in 2004, the famous slogan that 'a crisis is a terrible thing to waste.') Last winter he, too, issued a lacerating critique of his field, titled 'The Trouble With Macroeconomics.' His argument focuses on the question of 'identification,' which is shorthand in the field for how economists identify the cause of an event."

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