Sunday, April 29, 2012

butt plug pop out

brit macro-nit

nigel lewis carroll  Halfmoon-Smitherington My Photo

"  Internal consistency rather than external consistency
 is the admissibility criteria for microfounded models."



translation :



"macroeconomic models will be rejected
if some parts are theoretically inconsistent with other parts
 but not if some model property is inconsistent with the data."


".. the motivation for a paper will often be a ‘puzzle’,
which is an empirical fact that cannot as yet by explained
 by a model....however .the paper is not required
to be consistent will all other relevant facts"


------------------------------------------
thru the looking glass:

stick figure parables
  just so  fables

 ab-rah  kadab-rah