Ed Prescott, famous for purging econometricians from his department, calls the Minnesota Fed purge "crazy":http://blogs.wsj.com/economics/2013/11/26/nobel-winning-economist-calls-minneapolis-fed-shakeup-crazy/ …
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@AdamPosen@Noahpinion mfs grew from careful analysis of the failures of the alternative. how do you substantiate ur assertion 'w/o merit'?
@AdamPosen @Noahpinion is bernanke and gertler's financial accelerator 'without merit'?
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The merit is in intuition given by Bernanke's historical insight
@t0nyyates@Noahpinion and in the subsequent empirical work, not the modelThanks. Twitter will use this to make your timeline better. Undo -
@t0nyyates@AdamPosen@Noahpinion maybe worth noting that the Fed made $90b last year - or net $$$ taken out of economy by money printerThanks. Twitter will use this to make your timeline better. Undo
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