Reconciling Keynes and Tinbergen?
Year: 2025
Type: article
Abstract: In 1944, just five years after the controversy between John Maynard Keynes and Jan Tinbergen, Lawrence R. Klein found himself in a unique position. As a leading expert on Keynesian economics in the United States, Klein was recruited at the Cowles Commission to rebuild Tinbergen’s macro-econometric model of the US economy. This paper explores Klein’s macro-econometric approach as a serious attempt to reconcile Tinbergen’s work with Keynes’s criticisms. For Klein, macro-econometric modeling was not merely a tool for generating insights about the economic world but also a practice that took seriously the inherent limitations of statistical and mathematical methods. Ultimately, it was this complex practice—rather than econometric techniques alone—that enabled macroeconomists to discover, understand, and articulate concrete observations about the economy.
Source: Revista Desarrollo y Sociedad
DOI: 10.13043/dys.99.5
Author: Erich Pinzón-Fuchs
Institution: Universidad Nacional de Colombia
Language: English
Topic: Economic Theory and Policy
Domain: Social Sciences
Open Access status: diamond
OpenAlex ID: W4408054068