fundamentalist, realists, and the crisis. As usual, Paul Romer has interesting things to say. I found this on Gregory Mankiw's blog.
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Wednesday, October 8, 2008
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The question: Do you believe in models? My answer: Relative to what? If it is relative to empirics, I am sorry but I have to say yes, quoting the old say that "there are two things you'd better not watch in the making: sausages and econometric estimates"...
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