I was told that there are really two broad categories of economic models in macroeconomics. These Being:
1)Neoclassical Growth Models
2)Overlapping Generations Models

All other models that exist are variants of these two. By explanation:

Neoclassical Growth Models include:
1)The Solow Model
2)The Ramsey Cass Koopmans Model
3)The AK/"Learning By Doing" Model
4)The RD Model (endogenous growth)

Overlapping Generations Models Include:
1)Diamond Overlapping Generations Model
2)The Samuelson Overlapping Generations Model
3)The Overlapping Generations Model with Money.

Is this really the case?

  • 1
    $\begingroup$ I would maybe add category for New-Keynesian macro models. For example, I don’t see IS-LM really fitting into either of these categories but it’s clearly still used $\endgroup$ – 1muflon1 Dec 13 '19 at 14:46
  • $\begingroup$ Surely the most fundamental distinction among macro models is whether they are intended to model the short or the long term. All the models you list appear to fall in the latter category. $\endgroup$ – Adam Bailey Dec 14 '19 at 22:32
  • $\begingroup$ Would DSGE models be their own category or rather improvements/different approaches using the above models? $\endgroup$ – Brennan Dec 15 '19 at 3:49

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