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Read Arnold Kling's critique of macroeconomics, particularly of the confidence placed by economists in macroeconometric models. https://arnoldkling.com/essays/papers/macroeconometrics.pdf(Links to an external site.) In a one paragraph
Read Arnold Kling's critique of macroeconomics, particularly of the confidence placed by economists in "macroeconometric" models.
https://arnoldkling.com/essays/papers/macroeconometrics.pdf(Links to an external site.)
In a one paragraph summary extending at least five to seven sentences, summarize Kling's argument.Included in that summary is your own critical analysis. Is Kling correct? Or do economists understand the limitations of their models, which despite such limits, are useful to policymakers?
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