mainly macro

Paul Romer has continued the discussion he started, broadening it out from ‘mathiness’ to a more general discussion of how the subject is...

And more on whether price setting is microfounded in RBC models. For macroeconomists. Why do central banks like using the New Keynesi...

This is mainly of interest to economists, but given the importance of these issues, I have tried to write it in an accessible manner. S...

Paul Krugman : “The state of macro is, in fact, rotten, and will remain so until the cult that has taken over half the field is somehow disl...

In a recent post , Paul Krugman used a well known Tobin quote: it takes a lot of Harberger triangles to fill an Okun gap. For non-economists...