Author Archives: tzotos

DSGE Critiques PP

Hello class, Today Christian and I are presenting the critiques of DSGE models, mainly post 2008 global financial crisis! I have attached a link to view the presentation below if you would like to review it and develop questions beforehand. The predominent economists who provided discourse on the topic include Robert Solow, Anton Korinek, Noah […] Continue reading

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Update: Critiques of DSGE Models

Hello class, Christian and I are writing our portion of the paper on the critiques of DSGE models. We have chosen the most prominent critiques and have looked at the points of discourse from well-known economists, such as Robert Solow, Anton Korinek, Noah Smith, Roger Farmer, Camilo Tovar, and Paul Krugman. The structure of the paper […] Continue reading

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Noah Smith’s Conclusion on DSGE Models

In my last blog post I summarized and reflected on Noah Smith’s article The Most Damning Critique of DSGE. The blog post expanded on Smith’s opinion of utilizing DSGE models in the financial sector but I neglected to note one of the most important points made. Noah claims that there are numerous different variations of DSGE models […] Continue reading

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Noah Smith’s Conclusion on DSGE Models

In my last blog post I summarized and reflected on Noah Smith’s article The Most Damning Critique of DSGE. The blog post expanded on Smith’s opinion of utilizing DSGE models in the financial sector but I neglected to note one of the most important points made. Noah claims that there are numerous different variations of DSGE models […] Continue reading

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RE: The Most Damning Critique of DSGE

Noah Smith’s article, The Most Damning Critique of DSGE, questions the lack of use of DSGE models in financial sectors. Smith is perplexed that the financial sector does not utilize DSGE models to forecast economic fluctuations or the effects of government policy for large monetary gains. He claims this siuation to be “currently the most […] Continue reading

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Roger Farmer’s Main Points

Hey everyone I hope you all had a nice spring break! Real quick here are some notes that I took on Roger Farmer’s Prosperity for All book. There is a chance I might have missed some important ideas and topics but I wanted to keep it relatively concise so that it would fit in a blog […] Continue reading

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RE: Conceptual Frameworks

“Conceptual frameworks are not things to do. Conceptual frameworks are tools for understanding, tools to think with.” -Gardner Campbell A lot of the points made by Gardner in his recent blog post, Conceptional Frameworks: some thoughts, really resonated with me. To start off, several of the issues of today’s educational system brought up in the […] Continue reading

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Roger Farmer’s Main Points

Hey everyone I hope you all had a nice spring break! Real quick here are some notes that I took on Roger Farmer’s Prosperity for All book. There is a chance I might have missed some important ideas and topics but I wanted to keep it relatively concise so that it would fit in a blog […] Continue reading

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Rational Expectations

Although I believe Rational Expectations are a far more efficient alternative to Adaptive Expectations I do believe there exist some flaws that are inherent in its fundamentals. As discussed in class last Wednesday and Friday, Rational Expectations (RE) are formulated and derived from models which in return is then used to create specific forecasts. In […] Continue reading

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Friedman & Phelps: Natural Rate Hypothesis

One important theory that Friedman proposed during his lifetime was the Natural Rate Hypothesis (NRH) or the Non-Accelerating Inflation Rate of Unemployment (NAIRU). Next class, Brittany, Daley, and I will briefly explain this concept to you all but if you would like to learn about it beforehand I included an online article at the bottom that […] Continue reading

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