Selva Brasilis

Um país que evoluiu da oca e senzala ao abismo, barbárie e caos, sem ter experimentado a civilização

Wednesday, August 4, 2010

Solow e o Teste do Mau Cheiro

Robert Solow vai ao congresso Americano para detonar os modelos DSGE: "I do not think popular DSGE models pass the smell test. They take it for granted that the whole economy can be thought about as if it were a single consistent person or dynasty carrying out a rationally designed, long-term plan, occasionally disturbed by unexpected shocks, but adapting to them in a rational, consistent way. I do not think that this picture passes the smell test. The protagonists of this idea make a claim to respectability by asserting that it is founded on what we know about microeconomic behavior, but I think that this claim is generally phony. The advocates no doubt believe what they say, but they seem to have stopped sniffing or to have lost their sense of smell altogether".
SELVA BRASILIS at 9:54 PM
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