why there is money is pretty obvious. This topic is a yawner, that is why money search no good.
Economics Job Market Rumors » Macro Job Rumors
what's wrong with money search?
(26 posts)-
Posted 2 months ago #
-
^ Typical freshwater dismissive arrogance. The question was not "why is there money?" The question was "why is there money search?" ie what is actually gained from modelling money search rather than using an ad hoc money demand function or cash-in-advance constraint?
I'm not a macroeconomist, but I try to somewhat follow the big areas in other fields. As far as I can tell, the practical motivation for studying search is as underwhelming as that for DSGEs. "Previous models use an ad hoc money demand function with no microfoundations... so I will use an awkward unrealistic model like Lucas islands, or Kiyotaki-Wright where I just happen to randomly meet people I may or may not be able to trade with, or a Lagos-Wright model with day/night sub-periods in which sometimes I can trade with money but sometimes I can't." And for what? To estimate the welfare cost of inflation from a calibration loaded with dozens of brittle assumptions?
Randy Wright should do something more socially productive, like putting his shirt back on and growing up.
Posted 2 months ago # -
wright is a god! don't mess with him
Posted 2 months ago # -
Randy Wright should do something more socially productive, like putting his shirt back on and growing up.
----------------------------Well the Contractions are a crowd pleaser.
Posted 2 months ago # -
you can start a cottage industry of papers if you just focus on an issues and try to make it as complicated as possible using second rate math while the rest is using fourth rate math.
Posted 2 months ago # -
Randy Wright = Mike Myers
Posted 2 months ago # -
dude makes so much money though. who cares about being socially anything. rational egoists > you.
Posted 2 months ago # -
Oh? Randy successfully found some? Well, then I guess he has a right to pub on how to do so. That is frigging obvious.
Posted 2 months ago # -
The dude knows how to bang coauthors
Posted 1 month ago # -
The S&M girls say they were sore when they got back from the NBER.
Posted 1 month ago #