Max Lybbert

Add friend
Sign in to Goodreads to learn more about Max.


The Witchwood Crown
Rate this book
Clear rating

 
Statistical Metho...
Rate this book
Clear rating

 
About Face: The E...
Rate this book
Clear rating

 
See all 5 books that Max is reading…
Loading...
“Many of the models in the literature are not general equilibrium models in my sense. Of those that are, most are intermediate in scope: broader than examples, but much narrower than the full general equilibrium model. They are narrower, not for carefully spelled out economic reasons, but for reasons of convenience. I don't know what to do with models like that, especially when the designer says he imposed restrictions to simplify the model or to make it more likely that conventional data will lead us to reject it. The full general equilibrium model is about as simple as a model can be: we need only a few equations to describe it, and each is easy to understand. The restrictions usually strike me as extreme. When we reject a restricted version of the general equilibrium model, we are not rejecting the general equilibrium model itself. So why bother "testing" the restricted version? If we reject it, we will just create another version.”
Fischer Black, Exploring General Equilibrium

Dan Wells
“How many people haven't dies because I killed the Withered that would have killed them? How many people have died because I kicked the hornet's nest and woke the hounds of hell?”
Dan Wells, The Devil's Only Friend

“In principle, we can estimate and even test the general equilibrium model. ...

In practice, we probably won't try to estimate or test the most general version of the model. The costs of gathering detailed data on tastes and technology, and of experimenting with the economy, are too high. If we decide not to test the general equilibrium model, I think we should keep it around to help organize our thinking about stylized facts and other data.”
Fischer Black, Exploring General Equilibrium

“Estimation' suggests a Bayesian approach to data, while 'testing' suggests a classical approach. I prefer estimation, since I think researchers who want to test often choose models that are more specific than the economics require. They talk of adding restrictions for no reason other than making their models easier to reject.”
Fischer Black, Exploring General Equilibrium

Dan Wells
“I promised a friend I'd walk through hell to get her back,' I said. 'Don't make me bring you with me.”
Dan Wells, Over Your Dead Body

year in books
Murilo ...
1,689 books | 90 friends

David S...
2,164 books | 1,138 friends

Jodyjarvis
52 books | 130 friends

Matt Ph...
181 books | 58 friends

Don Vic...
93 books | 76 friends

Leonora...
77 books | 55 friends

Sofie G...
157 books | 178 friends

Spencer...
156 books | 87 friends

More friends…


Polls voted on by Max

Lists liked by Max