quinta-feira, 18 de setembro de 2014

Alexandre Rands should study more

He is correct in bashing the UNICAMPERS, by definition.

But before defending the dual mandate for the CB, he should study Barro-Gordon classic model.

Math is easy, and results are powerful : including the potential gdp growth in the model is theoretically irrelevant (but in practice this would be a terrible signal amidst so much uncertainty); whilst including growth targets above potential create inflation bias -- which is no good.

Um comentário:

  1. Oh cadu você concorda com o Antoninho nessa?? Acho que o keynesianismo bate ainda forte no seu peito pra ouvir/ler essa sem alguma ponta de amargura.