Journal of Economic Literature (JEL) Code(s)
E1, E2, E3
This paper lists 19 points that follow from results I have obtained using a structural macroeconomic model (SEM). Such models are more closely tied to the aggregate data than are DSGE models, and I argue that DSGE models and similar models should have properties that are consistent with these points. The aim is to try to bring macro back to its empirical roots.
Fair, Ray C., "Some Important Macro Points" (2019). Cowles Foundation Discussion Papers. 95.