The Rebuilding Macroeconomic Theory Project, led by David Vines and Samuel Wills (2020), is an important, albeit long overdue, initiative to rethink a failing mainstream macroeconomics. Professors Wills, who must be congratulated for stepping up the challenge of trying make macroeconomics relevant again, call new multiple-equilibrium diverse (MEADE) paradigm Their idea start with simple models,...

Incorporating financial intermediaries, with their ability to generate shocks and frictions, into macroeconomic models has recently gained substantial attention of the profession. In this commentary I ask whether the models we generated are ripe to provide valuable, quantitative advice to policymakers, especially those interested in implementing and conducting macroprudential policy. I concentr...

Considering that the effect of different types energy on sustainable development differs, optimization structure is commonly seen as a decisive factor for development. In this study, we focus and construct dynamic stochastic general equilibrium (DSGE) analysis framework including environment, society, economy. Furthermore, analyze technology shocks when proportion clean separately set at 10%, 2...