Wednesday, September 7, 2016

Brian Romanchuk — SFC vs. DSGE (Again)

There was a recent set of articles discussing Stock-Flow Consistent (SFC) and Dynamic Stochastic General Equilibrium (DSGE) models; an initial article by Simon Wren-Lewis (link), which led to responses by others; I would recommend these two articles (link and link) by Ramanan.

The discussion was civil, which is partially the result that Simon Wren-Lewis agrees that the fixation on "microfoundations" makes very little sense. However, since it is still insisted upon by mainstream academics as being necessary to get published in mainstream journals, his flexibility is not particularly representative.…
Brian also explains the writing projects he is working on.

Bond Economics
SFC vs. DSGE (Again)
Brian Romanchuk

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