Notice: Function _load_textdomain_just_in_time was called incorrectly. Translation loading for the jetpack domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /mnt/stor08-wc1-ord1/694335/916773/www.tvhe.co.nz/web/content/wp-includes/functions.php on line 6131

Notice: Function _load_textdomain_just_in_time was called incorrectly. Translation loading for the updraftplus domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /mnt/stor08-wc1-ord1/694335/916773/www.tvhe.co.nz/web/content/wp-includes/functions.php on line 6131

Notice: Function _load_textdomain_just_in_time was called incorrectly. Translation loading for the avia_framework domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /mnt/stor08-wc1-ord1/694335/916773/www.tvhe.co.nz/web/content/wp-includes/functions.php on line 6131

Warning: Cannot modify header information - headers already sent by (output started at /mnt/stor08-wc1-ord1/694335/916773/www.tvhe.co.nz/web/content/wp-includes/functions.php:6131) in /mnt/stor08-wc1-ord1/694335/916773/www.tvhe.co.nz/web/content/wp-includes/feed-rss2-comments.php on line 8
Comments on: Hold up: In defence of macroforecasters http://www.tvhe.co.nz/2010/08/04/hold-up-in-defence-of-macroforecasters/ The Visible Hand in Economics Wed, 04 Aug 2010 21:23:30 +0000 hourly 1 https://wordpress.org/?v=6.9.4 By: TVHE » More defence http://www.tvhe.co.nz/2010/08/04/hold-up-in-defence-of-macroforecasters/#comment-26723 Wed, 04 Aug 2010 21:23:30 +0000 http://www.tvhe.co.nz/?p=5197#comment-26723 […] }); }Ok, so there were a couple of comments in the previous post that I think I need to discuss in order to explain why macroforecasters have […]

]]> By: Matt Nolan http://www.tvhe.co.nz/2010/08/04/hold-up-in-defence-of-macroforecasters/#comment-26690 Wed, 04 Aug 2010 01:07:27 +0000 http://www.tvhe.co.nz/?p=5197#comment-26690 @Paul Walker

The problem? If they can’t bring it back to economic fundamentals, then they can’t explain things. If they can’t explain things, people won’t keep paying them. I am sure that macroforecasters generally take this into account when thinking about issues.

Macroeconomists have talked about microfoundations for long enough now that everyone involved in the field should take them into account methinks.

]]> By: Paul Walker http://www.tvhe.co.nz/2010/08/04/hold-up-in-defence-of-macroforecasters/#comment-26689 Wed, 04 Aug 2010 01:04:17 +0000 http://www.tvhe.co.nz/?p=5197#comment-26689 @Matt Nolan

But many of the macro forecasters don’t see macro as applied micro, that’s part of the problem.

]]> By: Matt Nolan http://www.tvhe.co.nz/2010/08/04/hold-up-in-defence-of-macroforecasters/#comment-26688 Wed, 04 Aug 2010 00:59:44 +0000 http://www.tvhe.co.nz/?p=5197#comment-26688 @Paul Walker

Hey hey, witchcraft is a strong term. I’d call macro an applied version of micro, and I’d call macro forecasting an application of the concepts of macro.

]]> By: Paul Walker http://www.tvhe.co.nz/2010/08/04/hold-up-in-defence-of-macroforecasters/#comment-26687 Wed, 04 Aug 2010 00:57:23 +0000 http://www.tvhe.co.nz/?p=5197#comment-26687 @Matt Nolan

That’s only because macro is witchcraft while micro is actual economics!!!!!

]]> By: Matt Nolan http://www.tvhe.co.nz/2010/08/04/hold-up-in-defence-of-macroforecasters/#comment-26686 Tue, 03 Aug 2010 23:32:00 +0000 http://www.tvhe.co.nz/?p=5197#comment-26686 @Eric Crampton

Agreed on this point – macro is a much easier target than micro 😀

]]> By: Eric Crampton http://www.tvhe.co.nz/2010/08/04/hold-up-in-defence-of-macroforecasters/#comment-26685 Tue, 03 Aug 2010 23:29:35 +0000 http://www.tvhe.co.nz/?p=5197#comment-26685 Oh, and it’s always fun to rip on macro a bit :>

]]> By: Eric Crampton http://www.tvhe.co.nz/2010/08/04/hold-up-in-defence-of-macroforecasters/#comment-26684 Tue, 03 Aug 2010 23:29:09 +0000 http://www.tvhe.co.nz/?p=5197#comment-26684 I think both Falkenberg and Cowen are going after the ones selling themselves as having crystal balls, not the folks who are providing specialized reports for specific clients on how the likely macro environment, which everybody knows about, is likely to affect those clients in particular.

]]>