{"id":"https://openalex.org/W2029901409","doi":"https://doi.org/10.1093/oxrep/16.4.33","title":"How complicated does the model have to be?","display_name":"How complicated does the model have to be?","publication_year":2000,"publication_date":"2000-12-01","ids":{"openalex":"https://openalex.org/W2029901409","doi":"https://doi.org/10.1093/oxrep/16.4.33","mag":"2029901409"},"language":"en","primary_location":{"id":"doi:10.1093/oxrep/16.4.33","doi":"https://doi.org/10.1093/oxrep/16.4.33","is_oa":false,"landing_page_url":"https://doi.org/10.1093/oxrep/16.4.33","pdf_url":null,"source":{"id":"https://openalex.org/S106098198","display_name":"Oxford Review of Economic Policy","issn_l":"0266-903X","issn":["0266-903X","1460-2121"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a","anvur-class-a","anvur-scientific","cwts-core","jufo-1","norway-1","poland-100","russia-white-list-1","vabb-shw"],"host_organization":"https://openalex.org/P4310311648","host_organization_name":"Oxford University Press","host_organization_lineage":["https://openalex.org/P4310311648","https://openalex.org/P4310311647"],"host_organization_lineage_names":["Oxford University Press","University of Oxford"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Oxford Review of Economic Policy","raw_type":"journal-article"},"volume":null,"type":"article","indexed_in":["crossref"],"open_access":{"is_oa":false,"oa_status":"closed","oa_url":null,"any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5032113724","display_name":"Pa\u00fal Krugman","orcid":null,"observed_orcids":[]},"institutions":[{"id":"https://openalex.org/I20089843","display_name":"Princeton University","ror":"https://ror.org/00hx57361","country_code":"US","type":"education","lineage":["https://openalex.org/I20089843"]}],"countries":["US"],"is_corresponding":true,"raw_author_name":"P Krugman","raw_affiliation_strings":["Princeton University","Princeton University#TAB#"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Princeton University","institution_ids":["https://openalex.org/I20089843"]},{"raw_affiliation_string":"Princeton University#TAB#","institution_ids":["https://openalex.org/I20089843"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":1,"corresponding_author_ids":["https://openalex.org/A5032113724"],"corresponding_institution_ids":["https://openalex.org/I20089843"],"apc_list":{"value":3866,"currency":"GBP","value_usd":5098},"apc_paid":null,"fwci":2.4647,"has_fulltext":false,"cited_by_count":149,"citation_normalized_percentile":{"value":0.92961125,"is_in_top_1_percent":false,"is_in_top_10_percent":true},"cited_by_percentile_year":{"min":89,"max":100},"biblio":{"volume":"16","issue":"4","first_page":"33","last_page":"42"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10007","display_name":"Monetary Policy and Economic Impact","score":0.37059998512268066,"subfield":{"id":"https://openalex.org/subfields/2000","display_name":"General Economics, Econometrics and Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10007","display_name":"Monetary Policy and Economic Impact","score":0.37059998512268066,"subfield":{"id":"https://openalex.org/subfields/2000","display_name":"General Economics, Econometrics and Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T11742","display_name":"Economic Theory and Policy","score":0.3686999976634979,"subfield":{"id":"https://openalex.org/subfields/2000","display_name":"General Economics, Econometrics and Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T12137","display_name":"Economic theories and models","score":0.23409999907016754,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/is-lm-model","display_name":"IS-LM model","score":0.753000020980835},{"id":"https://openalex.org/keywords/microfoundations","display_name":"microfoundations","score":0.7710000276565552},{"id":"https://openalex.org/keywords/model-complexity","display_name":"model complexity","score":0.8100000023841858},{"id":"https://openalex.org/keywords/macroeconomic-models","display_name":"macroeconomic models","score":0.5260000228881836},{"id":"https://openalex.org/keywords/phillips-curve","display_name":"Phillips curve","score":0.871999979019165},{"id":"https://openalex.org/keywords/aggregate-supply","display_name":"aggregate supply","score":0.7480000257492065},{"id":"https://openalex.org/keywords/rational-expectations","display_name":"rational expectations","score":0.7570000290870667},{"id":"https://openalex.org/keywords/aggregate-demand","display_name":"aggregate demand","score":0.9419999718666077},{"id":"https://openalex.org/keywords/model-simplicity","display_name":"model simplicity","score":0.4819999933242798}],"concepts":[{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.6678605079650879},{"id":"https://openalex.org/C20556612","wikidata":"https://www.wikidata.org/wiki/Q4469374","display_name":"Volume (thermodynamics)","level":2,"score":0.5613911747932434},{"id":"https://openalex.org/C165556158","wikidata":"https://www.wikidata.org/wiki/Q83937","display_name":"Keynesian economics","level":1,"score":0.45061010122299194},{"id":"https://openalex.org/C6303427","wikidata":"https://www.wikidata.org/wiki/Q47398","display_name":"Economic history","level":1,"score":0.3471652567386627},{"id":"https://openalex.org/C121332964","wikidata":"https://www.wikidata.org/wiki/Q413","display_name":"Physics","level":0,"score":0.11229369044303894},{"id":"https://openalex.org/C97355855","wikidata":"https://www.wikidata.org/wiki/Q11473","display_name":"Thermodynamics","level":1,"score":0.10981553792953491}],"mesh":[],"locations_count":1,"locations":[{"id":"doi:10.1093/oxrep/16.4.33","doi":"https://doi.org/10.1093/oxrep/16.4.33","is_oa":false,"landing_page_url":"https://doi.org/10.1093/oxrep/16.4.33","pdf_url":null,"source":{"id":"https://openalex.org/S106098198","display_name":"Oxford Review of Economic Policy","issn_l":"0266-903X","issn":["0266-903X","1460-2121"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a","anvur-class-a","anvur-scientific","cwts-core","jufo-1","norway-1","poland-100","russia-white-list-1","vabb-shw"],"host_organization":"https://openalex.org/P4310311648","host_organization_name":"Oxford University Press","host_organization_lineage":["https://openalex.org/P4310311648","https://openalex.org/P4310311647"],"host_organization_lineage_names":["Oxford University Press","University of Oxford"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Oxford Review of Economic Policy","raw_type":"journal-article"}],"best_oa_location":null,"sustainable_development_goals":[],"sustainable_development_goals_aurora":[{"id":"https://metadata.un.org/sdg/8","score":0.5600000023841858,"display_name":"Decent work and economic growth"}],"study_designs":[],"awards":[],"funders":[],"has_content":{"pdf":false,"grobid_xml":false},"content_urls":null,"referenced_works_count":8,"referenced_works":["https://openalex.org/W2027059017","https://openalex.org/W2053435361","https://openalex.org/W2078686744","https://openalex.org/W2081845494","https://openalex.org/W2111819448","https://openalex.org/W2889712533","https://openalex.org/W3121863184","https://openalex.org/W4308477980"],"related_works":["https://openalex.org/W2090365974","https://openalex.org/W2165280632","https://openalex.org/W2990024115","https://openalex.org/W2004865129","https://openalex.org/W7096736172","https://openalex.org/W4388063310","https://openalex.org/W951223999","https://openalex.org/W3122186411","https://openalex.org/W7095270305","https://openalex.org/W7104736888"],"abstract_inverted_index":{"Simple":[0],"macroeconomic":[1],"models":[2,36,68,86],"based":[3,37],"on":[4,38,58],"IS-LM":[5],"have":[6,61],"become":[7],"unfashionable":[8],"because":[9],"of":[10,13,19,52,69,82,84,104],"their":[11],"lack":[12],"micro-foundations,":[14],"and":[15],"are":[16,41],"in":[17],"danger":[18],"being":[20],"effectively":[21],"forgotten":[22],"by":[23],"the":[24,64,80],"profession.":[25],"Yet":[26],"while":[27],"thinking":[28],"about":[29,76],"micro-foundations":[30],"is":[31],"a":[32],"productive":[33],"enterprise,":[34],"complex":[35],"such":[39],"foundations":[40],"not":[42,62,72,97],"necessarily":[43],"more":[44],"accurate":[45],"than":[46],"simple,":[47],"ad-hoc":[48],"models.":[49],"Three":[50],"decades":[51],"attempts":[53],"to":[54,100],"base":[55],"aggregate":[56,77],"supply":[57],"rational":[59],"behaviour":[60],"displaced":[63],"Phillips":[65],"curve;":[66],"inter-temporal":[67],"consumption":[70],"do":[71],"offer":[73],"reliable":[74],"predictions":[75],"demand.":[78],"Meanwhile,":[79],"ease":[81],"use":[83],"small":[85],"makes":[87],"them":[88,99],"superior":[89],"for":[90],"many":[91],"practical":[92],"applications.":[93],"So":[94],"we":[95],"should":[96],"allow":[98],"be":[101],"driven":[102],"out":[103],"circulation.":[105]},"counts_by_year":[{"year":2026,"cited_by_count":2},{"year":2025,"cited_by_count":1},{"year":2024,"cited_by_count":1},{"year":2023,"cited_by_count":2},{"year":2022,"cited_by_count":5},{"year":2021,"cited_by_count":4},{"year":2020,"cited_by_count":9},{"year":2019,"cited_by_count":7},{"year":2018,"cited_by_count":31},{"year":2017,"cited_by_count":33},{"year":2016,"cited_by_count":8},{"year":2015,"cited_by_count":6},{"year":2014,"cited_by_count":3},{"year":2013,"cited_by_count":2},{"year":2012,"cited_by_count":2}],"updated_date":"2026-10-16T09:59:22.235173","created_date":"2016-06-24T00:00:00"}
