Should-Read: Jo Mitchell: Dilettantes Shouldn’t Get Excited: “The Freshwater version of the model concluded that all government policy has no effect and that any changes are driven by an unexplained residual… …The more moderate Saltwater version, with added Calvo fairy, allowed a rediscovery of Milton Friedman’s main results: an expectations-augmented Phillips Curve and short-run demand … Continue reading Should-Read: Jo Mitchell: Dilettantes Shouldn’t Get Excited