…they play a similar role to compulsory savings. Put another way: this model can also explain countries with relatively low taxes but compulsory savings, such as Singapore. d. The model…

…(government and private including international); the most common MMT construct, the three-sector model (government, domestic private, and international); the rather uncommon four-sector model (government, international, domestic household, and domestic business);…

…accurate when he says: So, basically, what we have here is Bullard saying that the neoclassical (Solow) growth model – and all models like it – are wrong. He’s saying…

…Nouriel Roubini’s latest. In my view, the market is behaving very rationally. The Troika (ECB+EU+IMF) adapted the standard IMF model to the European sovereign debt crisis as a means to…

…getting accused of somehow trying to bias results by using all the data available. So I’m going to run a version of the model similar to the one I ran…

…build a model of the following form: % change in real GDP from t to t+1 = a + b*Top Marginal Tax Rate at time t + c* Top Marginal…

…9. Do not try to impress me with big words. Especially when they are statistical terms. 10. If you haven’t tried applying data to your model, your model is probably…

…even simplifies matters. That is to say, for most applications facing critters roughly our physical size, a flat earth is a good model. On the other hand, we’d be much…

…a “model” that may or may not be right and even though I have been using this model almost exactly as it is for some 15 to 20 years there…

…a historical model that supplies an underlying unity here? I suggest there is, with the caution that it may only apply to the European and American models, though personally I…