I have spent the past several years learning mainstream macroeconomics, in order to be sure that my heterodox views on the topic were justified. When I began this project I expected that many of the predictions of mainstream models that I disagreed with would be a result of some of the unrealistic assumptions such modelsContinue reading “New Keynesian Macroeconomic Models are worse than you think”
Tag Archives: DSGE models
Do Microfoundations address the Lucas Critique?
Modern macroeconomics has been endlessly criticized, not only by critics of mainstream economics, but also by many prominent mainstream economists. For example, nobel price winners such as Paul Romer, Paul Krugman, and Joseph Stiglitz have written articles in which they disparage modern macroeconomists. Even economists who have been very involved with such models such asContinue reading “Do Microfoundations address the Lucas Critique?”
The Mountain Goat Economics 