Category Archives: econ 488

Going Global

One thing that we should consider as we revise each of our sections (I made this point earlier today but I think this is a better example) – how do the purposes of macro theory intersect, and what are the consequences of failure in one area? This article I think makes an interesting point in that […] Continue reading

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What do we mean when we say that Macroeconomics is broken?

Hi friends (but mostly Nikita and Alli because this might be something we want to consider), First, please excuse the stream of consciousness (I promise I tried to keep this organized). Second, when I refer to modern macro as being “broken” I’m referring to it being broken with regards to its ability to predict/explain behavior […] Continue reading

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ECON488 – Global Posts 2017-04-17 13:53:53

https://drive.google.com/drive/folders/0B0QOnO2TyKAlZGZSX2FJUjlhU3M?usp=sharing
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#byeforever GDP

http://www.heritage.org/index/
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For those who had Waka-Flocka-itis on Friday (and other orders of business)

Hi friends, First, for those who were unable to make it to class on Friday, you can access the slides to Brittany and I’s presentation on the Federal Reserve’s FRB model here: https://docs.google.com/presentation/d/1ltQnFXu9I-Dm-f91YtzKIKuJyJpUh7wdkRGOmiKrg9Q/edit#slide=id.p Second, there are still a few stragglers who have not yet joined the dropbox. Here are some step-by-step instructions to join: 1. […] Continue reading

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The Unfortunate Eselessness of most ‘State of the Art’ Academic Monetary Economics

We’ve heard it before: Beware of PhD economists. Don’t ask them too many questions; just let them talk. Let them talk about that one thing they spent 6 years writing a dissertation about, and only that thing. Don’t try to argue, don’t try to think. They’ve already done that. They know it. You know it. […] Continue reading

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The Real Issue in Macroeconomics

The current calculation of the unemployment rate makes me believe that there is no such thing as involuntary unemployment, because the of people who are involuntarily unemployed aren’t even a part of the labor force, thus, they are not included in the unemployment rate calculation. So how can they be unemployed involuntarily if they aren’t […] Continue reading

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How can we fix this?

To fix or to rebuild? There are plenty of obscure economists who have come up with ways to fix macroeconomics. I think of them like the early 2000s emo bands of Economics. It’s our job to listen to them before they air on the radio. It’s our job to take their theories and pick them apart. […] Continue reading

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An Interesting Take on RBC Models

Mankiw throws some New Keynesian perspective into our analysis of RBC models. Good explanation of Walrasian Equilibrium and Classical Dichotomy.
http://scholar.harvard.edu/files/mankiw/files/real_business_cycles.pdf

 
Also, look at how CUTE my do… Continue reading

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An Interesting Take on RBC Models

Mankiw throws some New Keynesian perspective into our analysis of RBC models. Good explanation of Walrasian Equilibrium and Classical Dichotomy.
http://scholar.harvard.edu/files/mankiw/files/real_business_cycles.pdf

 
Also, look at how CUTE my do… Continue reading

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