(Macro)Economics and Humor (seriously...)
There has been quite a hubub in the blogosphere recently about the State Of Macroeconomics. Noah Smith has a pretty decent encapsulation of the discussion, (started by Paul Krugman, rebutted - poorly - by Steve Williamson, and followed up by Brad DeLong and John Quiggin).
I really don't have much to add to this, except to say that by pretty much any stretch of the imagination
I really don't have much to add to this, except to say that by pretty much any stretch of the imagination
- Most (all?) of the "modern" macro models have failed, and failed spectacularly
- DSGE sucketh profoundly
- Keynes really was a genius.
- As is Zach Weiner

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