Economic models are broken, and economists have wildly different ideas about how to fix them – Quartz


Quartz

Economic models are broken, and economists have wildly different ideas about how to fix them
Quartz
In a new paper (pdf) entitled “Where Modern Macroeconomics Went Wrong,” Nobel laureate Joseph Stiglitz of Columbia University lays much of the blame on the models used to understand the economy. These Dynamic Stochastic General Equilibrium …

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