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Monday, September 19, 2016

Brian Romanchuk — Paul Romer's Criticisms of Mainstream Macro Are Weak

Although this paper has generated a fair amount of headlines, the criticisms are extremely weak from the perspective of mainstream economics, and there is no reason to expect it to cause changes in behaviour. Whatever debates it spawns will be a distraction from the deeper problems associated with DSGE macro.
Bond Economics
Paul Romer's Criticisms of Mainstream Macro Are Weak
Brian Romanchuk

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