Fifth reading session: Christopher Sims (1980) Macroeconomics and reality

During the last four reading sessions, we covered certain discussions within the Ontology of Economics. Now it is time to move to the analysis of causality within economic, more specifically Econometrics. In the upcoming four sessions, we will dive into the causality's inquiry within Economics.

In the first part of the analysis of Econometrics, we will read the seminal work of Christopher Sims about the Macroeconomics and reality. In this paper, Sims explores the foundational underpinnings of Econometrics. After this paper, various developments did take place within Macroeconometrics.

Paper: Sims, C. (1980). Macroeconomics and Reality. Econometrica, 48(1), 1-33. doi:10.2307/1912017
Key words: econometrics; macroeconomics; reality; causality
Link to the paper: https://drive.google.com/file/d/1exP2qPkO-Ny07ohX7CHrR39p78Vjstwv/view?usp=sharing
Date: 05. February 2020, 21:00 (CET, Berlin)

Besides, it is mandatory to read the paper, since the discussion will be specifically based on the paper of each reading session.
This paper is a bit more technical than the others assigned in the group, therefore, please take your time accordingly.

Structure: First 30 minutes we will discuss key points from the paper. Then, we will move on to elaborate, criticize or analyze the ideas stated and try to connect the reading to the overall picture of the reading group.

Please do join us if you are interested. Looking forward to having a fruitful discussion about Macroeconomics and Reality!