What on earth have economists gotten into? A technical quagmire so challenging that they need to coauthor with fields medalist to do econ?? This surely can't be the right approach to writing macro models...
Ben Moll style mean field games papers
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Economics is a complex and multifaceted field, and economists often need to collaborate with experts from other disciplines in order to address complex problems and challenges. Collaborating with researchers from other fields, such as a Fields Medalist in mathematics, can bring a unique perspective and set of skills to the research process.
It is not unusual for economists to work with researchers from other disciplines, particularly in fields such as macroeconomics, which involves the study of the economy as a whole and can be influenced by a wide range of factors. Collaborating with experts from other fields can help economists to develop more sophisticated and accurate models and to better understand the underlying issues and dynamics of the economy.
Ultimately, the decision to collaborate with researchers from other fields is up to the individual economists and their research teams. Collaborating with experts from other fields can bring valuable insights and expertise to the research process, but it is important to carefully consider the potential benefits and challenges of such collaborations.
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What on earth have economists gotten into? A technical quagmire so challenging that they need to coauthor with fields medalist to do econ?? This surely can't be the right approach to writing macro models...
Why not? Macroeconomics is more complicated than physics.
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It is not necessarily the case that macroeconomics is more complicated than physics. Both fields are complex and multifaceted, and the level of difficulty or technicality can vary depending on the specific topic or area of research.
In some cases, economists may choose to collaborate with researchers from other fields, such as mathematicians or physicists, in order to bring different perspectives and expertise to bear on a particular problem or question. This can be a useful way to gain new insights and to advance research in both economics and the other field.
However, it is important to note that economics is a social science, and it is distinct from other fields such as physics in its methods and approaches. Economic models and theories are developed to explain and predict economic behavior, and they are tested and refined using data and empirical evidence. As such, the right approach to writing macro models in economics may involve a combination of theoretical and empirical methods, and may incorporate insights and ideas from other disciplines.
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What on earth have economists gotten into? A technical quagmire so challenging that they need to coauthor with fields medalist to do econ?? This surely can't be the right approach to writing macro models...
They are not that complicated. What paper are you talking about?
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What on earth have economists gotten into? A technical quagmire so challenging that they need to coauthor with fields medalist to do econ?? This surely can't be the right approach to writing macro models...
If the mathematicians can help us out with incomplete markets models with aggregate risk, it seems like a good division of labor. You think economists should be trying to do all of the technical stuff themselves when other people can do it better?
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Economics is a complex and multifaceted field, and economists often need to collaborate with experts from other disciplines in order to address complex problems and challenges. Collaborating with researchers from other fields, such as a Fields Medalist in mathematics, can bring a unique perspective and set of skills to the research process.
It is not unusual for economists to work with researchers from other disciplines, particularly in fields such as macroeconomics, which involves the study of the economy as a whole and can be influenced by a wide range of factors. Collaborating with experts from other fields can help economists to develop more sophisticated and accurate models and to better understand the underlying issues and dynamics of the economy.
Ultimately, the decision to collaborate with researchers from other fields is up to the individual economists and their research teams. Collaborating with experts from other fields can bring valuable insights and expertise to the research process, but it is important to carefully consider the potential benefits and challenges of such collaborations.AI post?
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it's pretty straightfoward actually. A stochastic optimal control problem with one state equation that describes the distribution of agents. It is just built on a higher toward of math sophistication. But once you are there, you are there.
Economists are still dabbling into control theory. Can you imagine when they discover h_infinity, robust control, etc?
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Have you read any of Sargent’s work from 15 years ago?
it's pretty straightfoward actually. A stochastic optimal control problem with one state equation that describes the distribution of agents. It is just built on a higher toward of math sophistication. But once you are there, you are there.
Economists are still dabbling into control theory. Can you imagine when they discover h_infinity, robust control, etc? -
Have you read any of Sargent’s work from 15 years ago?
it's pretty straightfoward actually. A stochastic optimal control problem with one state equation that describes the distribution of agents. It is just built on a higher toward of math sophistication. But once you are there, you are there.
Economists are still dabbling into control theory. Can you imagine when they discover h_infinity, robust control, etc?
Started mid nineties I think.
Control theory in engineering is a kids game compared with good macro -
Have you read any of Sargent’s work from 15 years ago?
it's pretty straightfoward actually. A stochastic optimal control problem with one state equation that describes the distribution of agents. It is just built on a higher toward of math sophistication. But once you are there, you are there.
Economists are still dabbling into control theory. Can you imagine when they discover h_infinity, robust control, etc?
Started mid nineties I think.
Control theory in engineering is a kids game compared with good macroI'm sure control theorists are terryfied by first order stochastic difference equations
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What on earth have economists gotten into? A technical quagmire so challenging that they need to coauthor with fields medalist to do econ?? This surely can't be the right approach to writing macro models...
Well, it's either this or badly executed sociology with proprietary data. Which side are you on?