The first macroeconomic model was built 80 years ago by Jan Tinbergen in 1936. The model was Keynesian with 32 stochastic equations based on the macroeconomic ideas of John Maynard Keynes. Important for the purposes of this workshop, the model was developed to answer an important monetary policy question: Whether a small open economy’s currency should be devalued in order to stimulate the economy.
É, velho, 32 equações! Não quero ver mais choro.