This is an interesting, if an Aesopian, article by Olivier Blanchard… He says that we need five kinds of macroeconomic models. He then gives examples of the five kinds. The examples of four of the kinds track—foundational, policy, toy, and forecasting—and we do indeed need those four kinds. Then we come to the fifth kind, … Continue reading There Is an Old Joke About Economists, Keys, and Lampposts That Comes to Mind Here…