Three Outstanding Challenges for Economic Research

5 Pages Posted: 12 Aug 2011  

Ricardo Reis

London School of Economics & Political Science (LSE); National Bureau of Economic Research (NBER); Centre for Economic Policy Research (CEPR)

Date Written: July, 19 2011

Abstract

The economic crisis of the past two years has brought a tremendous amount of excitement to the field of macroeconomics. Students are flocking into macro classes, PhD theses and seminar papers are becoming more creative and connected to the real world. It is a good bet that soon new approaches will emerge to think about macroeconomic phenomena. Harder to forecast is whether they will require a change in paradigm or a more intense use of existing ideas and models.

Either way, it is hard to think of a time in the evolution of economic science where funding research may get more bang for its buck. Applications to graduate programs are higher than ever, which will in a few years lead to more economists applying for grants than ever, and research is shifting towards the type of basic fundamental research that the NSF almost solely funds. In this report, I will present three areas or questions, where I currently see large outstanding questions, but where I also see active work.

Suggested Citation

Reis, Ricardo, Three Outstanding Challenges for Economic Research (July, 19 2011). American Economic Association, Ten Years and Beyond: Economists Answer NSF's Call for Long-Term Research Agendas. Available at SSRN: https://ssrn.com/abstract=1889361 or http://dx.doi.org/10.2139/ssrn.1889361

Ricardo A.M.R. Reis (Contact Author)

London School of Economics & Political Science (LSE) ( email )

Houghton Street
London, WC2A 2AE
United Kingdom

National Bureau of Economic Research (NBER)

1050 Massachusetts Avenue
Cambridge, MA 02138
United States

Centre for Economic Policy Research (CEPR)

77 Bastwick Street
London, EC1V 3PZ
United Kingdom

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