Must-Reads: Jared Bernstein: Budget Deal’s Impact Is Only a Blip: Noah Smith: I love microfoundations. Just not yours: “Check out the debate between Tony Yates and Simon Wren-Lewis…. It was kind of cute that Yates singled out Calvo pricing as an unrealistic, kludgey, hold-your-nose sort of microfoundation…. Lagos-Wright (2005)… is every bit as unrealistic as … Continue reading Things to Read on the Afternoon of December 18, 2013