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Duffie on speculative trading

…is a bet against what appears to be a market trend and making the bet can shift the market. Casino gambling doesn’t really look to fundamentals; it looks to perceptions

How to Build an Economic Model

…The first is a lack of measurability. There are no public records for “didn’t get promoted.” Nor, except in extreme cases, is there a way to measure treatment by supervisors….

Drug testing for those being bailed out

rdan Associated Press carries some news on our perceptions and priorities. Now who HAS the money for more drugs…especially cocaine? Oh the irony! CHARLESTON, W.Va. – Want government assistance? Just…

What Remains of the Keynesian Revolution ?

…does not imply that increased public spending has no effect on aggregate demand. Krugman presented a model with Ricardian equivalence which implies a public spending muliplier of 1. Becker and…