The insights into the financial meltdown that policymakers found most valuable came from scholars, such as Hyman Minsky and Charles Kindleberger, who thought in terms of broad aggregates and made no effort to establish micro foundations. The market participants, such as Ray Dalio, who were most prescient with respect to the crisis ignored microeconomics as they theorized in terms of debt and credit aggregates.
Monday, September 17, 2018
Microfoundations
Subscribe to:
Post Comments (Atom)
-
I'm not a fan of "diagrams" in economics, but sometimes... This is a screen capture of slide 36 from a SlideShare presentatio... -
In the Google News this morning, "The Fed may have saved the economy by hiking rates for 18 months—and may have guaranteed crisis for... -
Bosch season five air date: 18 April. Ten episodes. Four days later, six of the transcripts were already available. A few days later, the ... -
JW Mason : "... in retrospect it is clear that we should have been talking about big new public spending programs to boost demand.&quo... -
Comparing the labor cost of Nonfinancial Corporate Business (NCB) to NCB profits since 2018. The vertical gray bar during 2020 shows the re...
No comments:
Post a Comment