ROBERT LUCAS, one of the greatest macroeconomists of his generation, and his followers are "making ancient and basic analytical errors all over the place". ROBERTLUCAS是他那一代最伟大的宏观经济学家之一,但其信徒“在基础分析方面所犯的古老错误正遍布全球”。
Perhaps modern macroeconomists could learn from the forest managers. 当代宏观经济学家或许可以向森林管理员取取经。
Unless and until macroeconomists find a way to integrate concepts such as default and bubbles into their frameworks, it is hard to see them making a useful contribution to the policy debate. 除非宏观经济学家找到一种方法,将违约和泡沫之类的概念纳入他们的框架中,在那之前,很难看出他们对政策辩论作出了什么有益的贡献。
These are usually ignored by macroeconomists. 这些通常会被宏观经济学家忽视。
MACROECONOMISTS are widely disparaged for getting most things wrong, but really it is a wonder that they know anything at all. 宏观经济学因为总是给出错误结果而一直饱受鄙视,但是实际上值得一问的是他们到底知道什么。
Macroeconomists refer to a "great moderation", based on a reduction in cyclical fluctuations in gross domestic product in recent decades in most high-income countries. 宏观经济学家称之为“大缓和”(greatmoderation),理由是最近几十年来,大多数高收入国家国内生产总值(gdp)的周期性波动有所减弱。
Before the financial crisis, most macroeconomists were blinded by the idea that efficient markets would take care of themselves. 在本轮金融危机之前,多数宏观经济学家都盲目相信,有效市场会自我管理。
Thanks to the seismic events of the past two years, the prestige of macroeconomists is low, but the potential of their subject is much greater. 多亏了过去两年的震撼性事件,现宏观经济学家的威望已在谷底,但他们这一学科潜力无穷。
In the first months of the crisis, macroeconomists reposed great faith in the powers of the Fed and other central banks. 在危机的第一个月,宏观经济学家对美联储和其他央行重新树立了极大信心。
Back in the credit boom, most bankers and macroeconomists forgot that basic point but the credit crunch has rammed it home. 在信贷繁荣时期,多数银行家和宏观经济学家都遗忘了这一基本要点,但信贷危机让他们重新认识到这一点。
The fundamental problem is that macroeconomists treat inflation as a variable, while most of us do not. 根本问题在于,宏观经济学家将通胀视为一个变量,而我们大多数人并不这么认为。
Neoclassical equilibrium theory, which some macroeconomists had grown sceptical of, has also found new practitioners. 新古典主义的均衡理论(一些宏观经济学家已对该理论产生了怀疑)也找到了新的信奉者。
In the meantime, he says, macroeconomists should turn to patient empirical spadework, documenting crises past and present, in the hope that a fresh theory might later make sense of it all. 同时,他又说,宏观经济应对经验性的基础工作更为耐心,记录过去及现在的危机,希冀日后会有一种全新的理论能解释这一切。