An economics, investment, trading and policy blog with a focus on Modern Monetary Theory (MMT). We seek the truth, avoid the mainstream and are virulently anti-neoliberalism.
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Thursday, August 9, 2012
Emanuele Campiglio — Including banks in macroeconomic models - finally
We present the banking part of our macro model, explaining its theoretical framework and offering some numerical simulations.
Instead of theory slowly trying to rediscover operations, just let operations dictate what theory can strive to explain & project.
ReplyDeleteOperations change too fast to be sampled only at the whim of theorists. To make theory useful, operations have to dictate needs to theorists.
We've got this whole thing ass backwards.