An argument for studying macroeconomics

Rather than answering million or billion dollar questions like microeconomists, macroeconomists try to answer trillion dollar questions.

E.G. Why is actual output below potential output & when (or will) it come back to trend?

PotentialvActual

From Yuriy Gorodnichenko (both the idea and the graph).

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About ozidar

I'm an Assistant Professor of Economics at the University of Chicago Booth School of Business and a Faculty Research Fellow at National Bureau of Economic Research. You can follow me on twitter @omzidar. http://faculty.chicagobooth.edu/owen.zidar/index.html
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One Response to An argument for studying macroeconomics

  1. Barry says:

    Shouldn’t potential GDP be shifted due to the evident structural break?

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