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Lars P. Syll’s — Why DSGE models are worse than useless

Summary:
To flog a dead horse. Unfortunately, the horse is still alive and well in academia and central banks.The unsellability of DSGE models — private-sector firms do not pay lots of money to use DSGE models — is one strong argument against DSGE.But it is not the most damning critique of it.Lars P. Syll’s BlogWhy DSGE models are worse than uselessLars P. Syll | Professor, Malmo University

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To flog a dead horse. Unfortunately, the horse is still alive and well in academia and central banks.

The unsellability of DSGE models — private-sector firms do not pay lots of money to use DSGE models — is one strong argument against DSGE.

But it is not the most damning critique of it.

Lars P. Syll’s Blog
Why DSGE models are worse than useless
Lars P. Syll | Professor, Malmo University


Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

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