This blog is intended to allow me to record and share occasional ideas, principally in the realm of monetary economics.
My main inspiration comes from the work of Wynne Godley, my supervisor at Cambridge in the 1980s. I was privileged to spend many hours with him working on the development of prototype data-driven stock-flow models of the UK economy. My own input was perhaps limited to inputting data, but in return I learned enormous amounts about theoretical and empirical modelling. I had been interested in the long-run dynamics of models before, but Wynne's ideas were a revelation to me and have shaped the way I have thought about macroeconomic issues ever since.
For most of the time since then, I have worked in commercial fields, paying little attention to academic economics. This has given me a much deeper understanding of the way things really work, but has meant that I have not been exposed to more recent developments in economic thinking. Coming back to the subject now, I'm not sure that I've missed anything important.
Nick EdmondsReflections on Monetary Economics
(h/t Ramanan at The Case for Concerted Action)