Traditional dynamic stochastic general equilibrium model

Joe Biden’s experiment could revolutionise economic thinking

Traditional dynamic stochastic general equilibrium model to figure out the impact on the US and global economies. At the heart of this model is the idea that there is a single equilibrium around which the economy fluctuates.

Biden administration could reverse the Washington consensus preference for small deficits and market efficiency, in favour of a much bigger role for the state and policy. That would be an economic revolution. 

Megan Greene FT 6 May 2021

https://www.ft.com/content/4c7048ee-4336-43f9-9ecb-5718eccec5f1

Why financial policymakers are still fighting the last war

Megan Greene FT 23 november 2020

The writer is a senior fellow at Harvard Kennedy School 

https://englundmacro.blogspot.com/2020/11/why-financial-policymakers-are-still.html