... and I say this as someone who has contributed to developing such linearization methods myself benjaminmoll.com/WIMM/. Of course these methods are very useful for answering some questions. But just not for many others. (Plus the downsides in Fatih's thread)

Show Post

I couldn't agree more! The excessive focus on linearized solutions to HA models is a bit like the old joke about the drunk who is looking for a key under a lamppost because that's where the light is. More discussion of why we need non-linear models and ways forward here benjaminmoll.com/challenge/

Show Post

I would surmise that even for regular shocks linear methods may miss important action. For example there may be asymmetries around a steady state. In a recession most people are slightly affected but some are greatly. In a boom it's a story of all boats being lifted.

Show Post

re: nobel prize in chemistry (from hackernews) social sciences kinda of going the same way?

Show Post

Kapalı içerik

Show Post