Macroeconomics is a pseudoscience, like astrology. It’s time for everyone to start pointing and jeering.https://twitter.com/hbdchick/status/845776954594938880 …
Seems to sum to: “Many of our practices each independently guaranteed that what we did had no empirical value;
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now we are doing some of those differently.” No argument—or even suggestion!—that resulting discipline has any empirical value.
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what do you mean by empirical value? Structural models, for example, inform real policy decisions
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