sigh thread in which one of my faves outs himself as, a Cophttps://twitter.com/asglidden/status/1059505933368193024 …
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Ugh I KNOW and he deserves it fortunately I am an apostate from the profession and he has no power over me
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Replying to @eigenrobot @__vba
I was talking to a professional economist recently: him: That's why Romer won a Nobel; his model isn't contradicted by reality. me: but does it have any predictive value him: That's not the point.
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Replying to @peroxycarbonate @__vba
I think the Chris Sims Nobel was my favorite for this reason
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Replying to @eigenrobot @__vba
but i like real business cycle theories
Actually, "RBC" is ambiguous because I think of it involving intra-sectoral shifts while economists seem to think of the economy as divided by "sectors" and ignore within-firm specialization.1 reply 0 retweets 1 like
I'm fond of RBC as a default explanation for most things but I don't honestly know the literature well enough to have a strong opinion I did go to UMN for undergrad however which still meant something ten years ago
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