by Summary:
I was a discussant on a DSGE macro model at the Malaysian Central Bank’s annual conference. Rather than discussing the nuances of the particular model, I discussed the validity of the DSGE approach itself–covering the Sonnenschein-Mantel-Debreu Theorem (SMD), Mas-Colell’s honest treatment of it, how this is an instance of emergent properties, and Robert Solow’s stinging ...
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I was a discussant on a DSGE macro model at the Malaysian Central Bank’s annual conference. Rather than discussing the nuances of the particular model, I discussed the validity of the DSGE approach itself–covering the Sonnenschein-Mantel-Debreu Theorem (SMD), Mas-Colell’s honest treatment of it, how this is an instance of emergent properties, and Robert Solow’s stinging ...
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Steve Keen considers the following as important:
This could be interesting, too:
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