Mark Thoma quotes Forecasting the Great Recession: DSGE vs. Blue Chip, by Marco Del Negro, Daniel Herbst, and Frank Schorfheide, Liberty Street: Coincidentally commenter Luis Enrique asked me what I…

Robert Waldmann Following a link e-mailed by Ken Houghton I read this at “the Ambrosini critique” (thanks Ken) I read The need for more math is also related to the…

…ever. Now note I said some DSGE models. There are DSGE models of all sorts. However, models with the properties described in the paragraph above have been taken very seriously…

Robert Waldmann Below I ask why the argument that the stimulus must crowd out private spending because output can’t be higher than aggregate supply hasn’t been made (or made more…

…DSGE with reality is based on doing whatever it takes to make a DSGE model behave like an old Keynesian model (that is fit the data as old Keynesian models…

Robert Waldmann Thinks that this post by Mark Thoma discussing this Post by Menzie Chinn is unusually excellent. I suggest you go read it. If interested my thoughts on it…

…papers : http://www.nber.org/papers/w20561 http://www.voxeu.org/article/low-interest-rates-can-boost-households-consumption – See more at: http://angrybearblog.strategydemo.com/2015/01/interest-rates-mortgage-refinancing-and-consumption.html#comment-2538304 End update My long confused and confusing reply to Coberly after the jump (and down in the thread) Robert Waldmann January…