More Thoughts on Agent Based Models
My recent post on Agent Based Models (ABMs) generated a few interesting responses and I thought I would briefly reply to a couple of them in this post. In particular, two responses came from people...
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End of an Era
On August 13 Judit Polgar announced that she was retiring from competitive chess. This came as a shock to most people who follow chess – it certainly came as a shock to me though I have heard on...
View ArticleThe Lure of Capital Taxation
The taxation of capital income – corporate profits, capital gains, interest, dividends, etc. – has always been attractive to both politicians and to economists. Politicians are drawn to capital...
View ArticleBack to Blogging …
I haven’t written a post in a long, long time. Research, referee reports, teaching and administrative work have all been preventing me from contributing to the blog. This summer I’m going to try to...
View ArticleIn Praise of Linear Models …
Noah Smith and Francis Coppola have recent columns discussing the prevalence of linear methods in economics and in particular in macroeconomics. Coppola acknowledges that adding financial components to...
View Article(Paul) Romer’s Rant
Paul Romer has decided that it is time to air some grievances. In a widely discussed recent article in the AER Papers and Proceedings volume, he calls out some prominent macroeconomists for the alleged...
View ArticleWarren Buffet: Fighting Income Inequality with the EITC
Warren Buffet’s article in the Wall Street Journal reminds me of some posts I wrote a while back on fighting income inequality. His article contains a lot of wisdom. Some excerpts: The poor are most...
View ArticleIs Big Data the answer to all our problems?
Noah Smith recently commented on a Malcom Gladwell talk in which he (Gladwell) expressed doubts about the promise of “Big Data.” When people use the term “Big Data” they are often referring to...
View ArticleHomo Economicus vs. Homo Economicus “Straw-icus”
I haven’t written on my blog for a really long time but I am starting to approach a point where I might actually have some time to post again somewhat regularly. My reason for writing this particular...
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