Does Macroeconomics Need Microfoundations?
The representative-agent in macroeconomics analyzes the gas as if there is one big molecule subject to the law that governs real molecules. Kevin D. Hoover (2007). Are only…
The representative-agent in macroeconomics analyzes the gas as if there is one big molecule subject to the law that governs real molecules. Kevin D. Hoover (2007). Are only…
It was very interesting to reread this special issue of Le Point published last summer. This issue displays a journalistic article on one page and an abstract of…
Amicus Plato, sed magis amica veritas. Miguel de Cervantes, Don Quichotte (1605). How did we find out that Earth is a sphere? How in the same moment a…
The numbers are going up not because we are testing more, but because the virus is being transmitted more. Jennifer Lee (2020). The case fatality rate (i.e. the…
Kurtosis tells you virtually nothing about the shape of the peak – its only unambiguous interpretation is in terms of tail extremity; i.e., either existing outliers (for the…
Two important characteristics of maps should be noticed. A map is not the territory it represents, but, if correct, it has a similar structure to the territory, which…
“Data! Data! Data!” he cried impatiently. “I can’t make bricks without clay.” Sherlock Holmes. The Adventure of the Copper Beeches, Sir Arthur Conan Doyle (1892). In my previous…
The rate of exchange between two countries is primarily determined by the quotient between the internal purchasing power against goods of the money of each country. The general…
Estimator: A statistic used to approximate a population parameter. Sometimes called a point estimator. Estimate: The observed value of the estimator. Unbiased estimator: An estimator whose expected value…
We’re supposed to be living in an era where human beings have become the dominant influence on the environment, but COVID-19 has revealed the fragility of our societies and the…
L’Histoire ne rampe pas. L’Histoire bondit. Nassim Nicholas Taleb (2008). Dans ces temps troublés pour l’économie mondiale plongée dans un coma artificiel, l’union monétaire européenne est sur la…
History does not crawl. History jumps. Nassim Nicholas Taleb (2008). In these dark times of ’Coronacoma’ for the World Economy, the European Monetary Union is on the brink……
La loi de la population nous est inconnue, parce qu’on ignore la nature de la fonction qui sert de mesure aux obstacles, tant préventifs que destructifs, qui s’opposent…
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