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One Year and One Month Ago at Grasping Reality: August 10, 2016

Two Things Worth Highlighting: Must-Read: Nikola Koepka and Joerg Baten (2005): The biological standard of living in Europe during the last two millennia Comment of the Day: Charles Steindel: Olivier Blanchard on Role of DSGE: "On the whole... masterful. The rub is, as you say, at the end. What are good microfoundations? As he notes, information asymmetries, behavioral economics considerations, and the like, make the crude 'micro' backbones of standard DSGE models laughably at odds with reality.
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