by 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 BlogWhy DSGE models are worse than uselessLars P. Syll | Professor, Malmo University
Topics:
Mike Norman considers the following as important:
This could be interesting, too:
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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