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DSGE models (Introduction) have recently been criticized by P. Romer (2016) as pseudoscientific (Section 1). Their dominance is attributed to the uncritical “deference to authority” that has dominated macroeconomics “for the last 30 years”. In contrast, the paper aims to support the widespread view that – their problems notwithstanding – DSGE models meet the epistemic standards of scientific research...
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