1st Edition

Macroeconomic Measurement Versus Macroeconomic Theory

By Merijn Knibbe Copyright 2020
278 Pages 39 B/W Illustrations
by Routledge

278 Pages 39 B/W Illustrations
by Routledge

278 Pages 39 B/W Illustrations
by Routledge

Ideally, scientific theory and scientific measurement should develop in tandem, but in recent years this has not been the case in economics. There used to be a time when leading economists, or their students, established or led statistical offices and took care that the measurements were consistent with the theory (and vice versa). Not anymore. Macroeconomic theorists and macroeconomic... Read more

Preface

Chapter 1. Introduction

Chapter 2. Money, prices and pricing

Chapter 3. Money and how it’s measured

Chapter 4. Labor and unemployment

Chapter 5. Capital (and land)

Chapter 6. Consumption

Chapter 7. I stands for Gross Fixed Capital Formation

Chapter 8. (Un)real production

Chapter 9. Macro economic unit labor costs as we measure them are no indicator of competitivity

Epilogue

Biography

Merijn Knibbe was born in Veldhoven, The Netherlands. He studied economics at the Rijksuniversiteit (University of) Groningen. He has written a Ph. D. thesis about production and income in Dutch agriculture between 1850 and 1950 and a habilitation on developments in Frisian agriculture between 1505 and 1832. He has also published on historical flows of feed, food and minerals in the Netherlands as well as many blogs on economic developments after the Great Financial Crisis and the extent to which economic metrics and models can be used to map and analyse the nature of this crisis.