Lars P. Syll

How to control confounding (wonkish)  [embedded content] Advertisements

Tony Lawson vs Uskali Mäki We are all realists and we all — Mäki, Cartwright, and I — self-consciously present ourselves as such. The most obvious research-guiding commonality, perhaps, is that we do all look at the ontological presuppositions of economics or economists. Where we part company, I believe, is that I want to go much further. I guess I would see their work as primarily analytical and my own as more critically constructive or dialectical. My...

Emanuel Macron — l’arrogance du pouvoir  [embedded content] Advertisements

Reasons to dislike DSGE models First: They are based on unappealing assumptions. Not just simplifying assumptions, as any model must, but assumptions profoundly at odds with what we know about consumers and firms … Second: Their standard method of estimation, which is a mix of calibration and Bayesian estimation, is unconvincing … Third: While the models can formally be used for normative​ purposes, normative implications are not convincing … Fourth: DSGE...

Ist die Integration gescheitert?  [embedded content] Advertisements

Hatte Karl Marx doch recht?  [embedded content] Advertisements

But once, we were here (personal)  [embedded content]  [embedded content] In loving memory of my brother Peter ‘Uncas’ Pålsson — truly ‘a red man deep inside.’ Advertisements

RCTs risk distorting our knowledge base The claimed hierarchy of methods, with randomized assignment being deemed inherently superior to observational studies, does not survive close scrutiny. Despite frequent claims to the contrary, an RCT does not equate counterfactual outcomes between treated and control units. The fact that systematic bias in estimating the mean impact vanishes in expectation (under ideal conditions) does not imply that the (unknown)...

The debate about RCTs is over. The randomistas lost. We won.  [embedded content] Advertisements

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