ARNOLD KLING
August 14, 2011
The Top Political Contributors
August 11, 2011
Gender and the New Commanding Heights
August 11, 2011
Jamie Galbraith Makes an Assumption
August 11, 2011
Macroeconometrics: The Science of Hubris
August 10, 2011
Real and Nominal Bond Yields
BRYAN CAPLAN
August 14, 2011
The Effect of Thumb Sucking on Income
August 12, 2011
The Voice of Cold, Hard Truth to All Would-Be Educators
August 12, 2011
Ability, Morality, and Prosperity: A Paper and a Report
August 11, 2011
The Theory of Time and Frittering
August 10, 2011
Male Variance and the Remnants of the Gender Gap
DAVID HENDERSON
August 9, 2011
Hayek in "Unbroken", Part Two
August 8, 2011
Hayek in "Unbroken"
August 5, 2011
James Bovard on the Peace Corps
August 4, 2011
Summers Way Off on FDR and 1941
August 3, 2011
The "Amazon" Tax
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You have on prior occasion made Ray Fair out as a figure of fun, but Hernández-Villaverde is quite respectful. Please to reconcile.
It also seems that the essay does not say all that much about the unit root controversy, certainly not enough to weigh in substantially on the arguments that went on in the econoblogosphere over the matter.
Interestingly, I find a deep similarity between Fernandez-Villaverde's critique of "high modernism" in Macroeconomics and a similar, and I believe correct, critique of "global warming" theories. Both suffer from models which are virtually "meaningless" in the sense that there is little to no empirical capability to test the theories. In physics, string theorists suffer the same fate, but at least they seem aware of it. They also do not ask the rest of the world to spend or waste money/capital based on their wishes and theories alone.