Replication in Quantitative Macroeconomics
Robert Kirkby, Victoria University of Wellington — September 29, 2022
Session 3 of the Webinar series: Replicating empirical studies in economics - an opportunity for students
Registration was possible here for the live question & answer session on September 29, 2022, 20h Brussels/Paris/Berlin time, September 30, 7am in New Zealand.
A recorded video presentation was available to view prior to the session here.
The recording of the live Q&A session is available here.
Use the discussion page to comment or ask questions in written form.
Robert Kirkby (Victoria University of Wellington)
Abstract
Macroeconomics differs from other fields in Economics in both the sources of data used and in the style of computation involved. In particular, data most often comes from reputable existing datasets, such as various IMF datasets, or those run by large Government organizations. On the other hand, many Macroeconomics papers involve substantial computing, often of models that have been coded specifically for that paper, rather than using standard software. As a result, there is both a substantial overlap in issues around replication in Macroeconomics and other fields, and also some important differences.
We will discuss the state of replication in Macroeconomics (embryonic) and many related questions: Why is replication important? What does a successful/failed replication mean? How to find out if a paper has been replicated? How to go about performing a replication? How to make your work more easily replicable? Has the field improved over the past decade? What is most important to improve over the coming years?
We will finally discuss how to do replication yourself: choosing a paper, performing the replication, useful resources, common issues, what if you need to contact the original authors?, what to do with the replication once completed?
A full working paper is available here.
Presenter bio
Robert Kirkby is a Macroeconomist at Victoria University of Wellington. He works on macroeconomic policy analysis as well as teaching macroeconomics. A substantial component of his research is the development of theoretical and computational tools to better perform such analysis.
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