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Must-Reads: Robert Waldmann: Benchmark II

Robert Waldmann: [Benchmark II][]: “Benchmark[s] which I think are dangerous…

…Macroeconomists have agreed to treat technology as exogenous. I think this particular choice helps explain Paul Romer’s extreme irritation…. Macroeconomists have agreed that long run forecasts are best made using a neoclassical model without frictions. This means that the macroeconomic discussion is about the optimal model of convergence to a given long run which is given by assumption and not analysis or evidence. This provoked Roger Farmer to be almost as harsh as Paul Romer (by the way reading that Farmer post is a much better use of your time than reading this post)…

Benchmark II]: http://rjwaldmann.blogspot.com/2016/10/benchmark-ii.html

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Must-Reads: Robert Waldmann: Benchmark II

October 28, 2016

AUTHORS:

October 28, 2016

AUTHORS:

Factsheet: Is the U.S. economy in a recession, and how does recession dating work?

U.S. income and wealth inequality are no longer increasing, but a return to the equitable levels of the mid-20th century isn’t likely anytime soon