Saturday, January 02, 2016

Making And Using Models - The New York Times

Making And Using Models - The New York Times:

"Larry Summers, Brad DeLong, and yours truly are having a bit of a three-cornered dialogue about the role of models in policy, set off by Larry’s initial post about why he believes the Fed is making a mistake in raising rates. We’re now in round two – and before I get to the specifics, let me ask: Don’t you wish real life were like this? (Let me pull Marshall McLuhan John Maynard Keynes out from behind this sign.)"

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