What does the field of economics think of Noah Smith? : r/AskEconomics

A central repository for questions about economic theory, research, and policy. Please read the rules before posting, as we remove all comments which break the rules. Answers must be in-depth and comprehensive, or they will be removed. Posts should be in the form of a question. I'm a senior, studying econ. I've read his substack and enjoyed it, but his article on macro left me in a little bit of a crisis of faith. I spoke to my macro professor, who seemed to have thoughts on Noah Smith in general, which he didn't share. He did, however, say that many of the claims made in the article are flatly untrue. A brief summary of the article, from the edits: DSGE models aren’t good at forecasting, the standard microfoundations have been repeatedly shown to not fit the micro data and are theoretically dubious, the models are very difficult to even fit to the data in the first place, private companies refuse to use the models, and central banks only use them as one source of analysis among many.

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• Majo