I have been back to academia for just over a year
I don’t see any signs of a revolution of that kind taking place.
I think where academic macroeconomics now stands
is just the continuation of trends that were already in place before the Great Recession.
There is much interest in trying to develop models
with more respect for heterogeneity on the firm side and the household side
and using sophisticated computational methods and data to come up with that
these are just continuations of trends that were in place before the Great Recession.
I am disappointed by that
I think that the financial crisis and then the really slow recovery
should really make macroeconomists revisit and rethink the path we are on in macro
but I don’t see very much of that happening at this stage
