Reconsidering macroeconomic policy prescriptions with meta-analysis
回顾了元分析方法的最新进展,并综述其在宏观经济学中的应用,发现元分析常挑战传统观点,在财政、货币和劳动力市场政策中揭示出版偏倚和意外决定因素,从而建立新共识。
Abstract This paper investigates recent developments in meta-analysis, the tool to quantitatively synthesize research in a certain body of literature. After providing a brief overview on how to do a meta-analysis and discussing recent methodological advancements, I review applied contributions to the field of macroeconomics. It turns out that meta-analyses have often questioned the conventional wisdom and established new consensuses in fiscal, monetary, and labor market policies by uncovering substantial publication bias and unexpected determining factors in many bodies of literature—in particular those dominated by policy conclusions in the neoclassical tradition like minimum wages, central bank strategies, financial regulation and the relative effects of tax and spending policies.