What the Heck is “Calibration” Anyway?
Every year I teach EC607 I arrive at the Real Business Cycle model and run into a problem. No, it’s not struggling to answer “why are you teaching the RBC model if you don’t think it is useful for...
View ArticleAre the Micro-foundations of Money Demand Important?
EC607 is rapidly coming to a close. I’ve finished the RBC model and now I am on to discussing nominal rigidities and New Keynesian Economics. This transition is always somewhat awkward because I have...
View ArticleFixing Terrible Economics Presentations
Most economics seminar presentations are terrible. Basically, we suck at presenting our work. There are many guides to improving presentations that you can find online. There’s a recent set of...
View ArticleThe Determinants of Demand?
Is this what Allen Sanderson has in mind? (Via Greg Mankiw).
View ArticleWatch what you Say in the Echo Chamber
In a recent blog post, Paul Krugman points out that there is no conflict between “standard economics” and concern about growing income inequality. You can be perfectly conventional in your economics...
View ArticleCripes, Maybe I’m in the Echo Chamber …
Paul Krugman is not happy with my post on echo-chamber etiquette for America’s public intellectuals. As widely read public intellectuals, Paul Krugman and Noah Smith have an obligation to present a...
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