Their thinking was embodied in a new genre of working models of the economy, called “dynamic stochastic general equilibrium” (DSGE) models.

他们的思想体现在一种经济运作新模式上，称为“动态随机一般均衡（DSGE）”模型。

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DSGE models sometimes work, but their success depends on events and policies remaining unchanged, since DSGE calculations are based on historical observations.

动态随机一般均衡模型有时候会有效，但是他们的成功要依赖事件和政策保持不变，因为动态随机一般均衡模型的计算是基于历史观察。

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The mainstream macroeconomics embodied in DSGE models was a poor guide to the origins of the financial crisis, and left its followers unprepared for the symptoms.

体现在“动态随机一般均衡”模型中的主流宏观经济学，不能有效找出金融危机的根源。，使其拥趸对各种金融危机的各种症状毫无准备。

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That this is often approximately true is why DSGE models perform well enough in a business-as-usual economy.

ECONOMIST: Economics focus

Although DSGE models are also based on microeconomic foundations, they accept the traditional view that there exists some ideal equilibrium towards which all prices are drawn.

ECONOMIST: Economics focus