Category Archives: Student Blogs

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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At a Glance

Advances in technological firms have opened the opened a large sum of Americans to a vast amount of information. Since the 90s the labor force participation rate has been steadily decreasing. In 2013 “According to BLS projections, 15.1 million men will have left the labor force by 2022, resulting in a labor force of 86.9 […] Continue reading

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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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DSGE and Why It’s “Broken” – Paper Scrap

DSGE Dynamic Stochastic General Equilibrium, or DSGE model has been the most dominant recent macroeconomic model in the recent economic history. The name Dynamic Stochastic General Equilibrium does tell some interesting characteristic that the model possesses. “Dynamic” being the simplest part of the model just suggests that the model over goes a progress of constant […] Continue reading

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Updating Older Schools of Thought – Paper Scrap

Neo-Classical Economics Neo-Classical Economics is a form macroeconomic thought that was based on incorporation of rational expectation theory in the through 60s and 70s. This means that the macro economy is made of many individuals who make the best decisions that they possibly can and will drive the economy. This economic model is highlighted by […] 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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Classical and Keynesians – Paper Scrap

Unfortunately my descriptions of different economic thoughts that we have discussed this semester won’t make the final paper, but here they are for your viewing pleaser!   Classical Economics The first class of economics which had kicked off the main study of economics was the classical view of the economy. There was no differentiation between Macroeconomic or Microeconomic […] 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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Another Critique for DSGE Models

I found this simplified critique of DSGE models (Policy Brief), written by Olivier Blanchard that was published in August of last year. I think he outlines several key flaws in the microeconomic foundations of the DSGE models in a streamlined manner. It is a short article, restating some of what we have found in class, […] 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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