Citation

Discussion Paper Details

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Full Details

Title: Economic Science and Political Influence

Author(s): Gilles Saint-Paul

Publication Date: December 2012

Keyword(s): Autocoherent models, Degenerative research programs, Identification, Ideology, Intellectual competition, Macroeconomic modelling, Polarization and Self-confirming equilibria

Programme Area(s): International Macroeconomics

Abstract: When policymakers and private agents use models, the economists who design the model have an incentive to alter it in order influence outcomes in a fashion consistent with their own preferences. I discuss some consequences of the existence of such ideological bias. In particular, I analyze the role of measurement infrastructures such as national statistical institutes, the extent to which intellectual competition between different schools of thought may lead to polarization of views over some parameters and at the same time to consensus over other parameters, and finally how the attempt to preserve influence can lead to degenerative research programs.

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Bibliographic Reference

Saint-Paul, G. 2012. 'Economic Science and Political Influence'. London, Centre for Economic Policy Research. https://cepr.org/active/publications/discussion_papers/dp.php?dpno=9263