Tuesday, 26 April 2011

You’ll miss me when I’m gone

No blogging today. Sorry. I’m in Christchurch for twenty-four hours with no intention of putting finger to keypad.

Feel free to have a conversation amongst yourselves while I’m away.

Or, unless you’d rather do “he said she said” about the fortunes of the disappearing ACT Party, check out the Objective Standard’s (U.S.-based) Week in Review.


  1. I thought that the following will be a good read on economic model deficiencies and some new directions of research in the field of economics is encouraged. No breakthru yet, but changing course in research direction must be taken seriously by professional economists. They must embrace researches that are coming from outside of economics itself, such as physics, psychology, sociology, engineering, biology. NB: There is not a single equation in the paper, which makes it readable to most commentators here.

    International Finance from Macroeconomics to Econo-physics

  2. This is also a good read too. Again, there's no equation in the paper.

    The Financial Crisis and the Systemic Failure of Academic Economics (click on the download button at top of the page)

    I completely agree with the authors of the paper. Economists must warn about any suspect or deficiency in their models, instead of just stating their conclusions based on DSGE (dynamic stochastic general equilibrium) for example without mentioning its weaknesses. Yep, DSGE does have weaknesses.

  3. I meant to post the followings as well in one (previous post).

    Beyond DSGE Models: Toward an Empirically Based Macroeconomics

    Again, it is readable since there is no equation. I've posted these papers at Matt Nolan's blog as well.

    I know that Libertarianz don't like the following, but go ahead and have a look. There are derivations in the paper, so avoid them if you want to get a general idea of what's it about or perhaps just skip the main section (the model derivation section) and read the abstract, introduction and conclusion.

    Analysing tax evasion dynamics via the Ising model

    The Ising model mentioned in the paper above, is a concept in thermodynamic/statistical-physics where properties of ferro-magnetism where the model of a state of a specific particle is influenced by the spins (spin-up or spin-down) of its neighboring particles.

  4. Ok, perhaps I can generate some discussion.

    How did the so called economic forecasters at the NZ Reserve Bank (NZRB) estimated that the upcoming World Cup event will generate $700 millions to the economy, but as the NZ Herald this morning reported that other economists have said that the figure has been largely exaggerated? Can someone from the NZRB be held responsible for this fuck-ups?

    The taxpayers have been duped.

  5. PC my previous comment disappeared into the thin air. May be too many (2) links. Ignore the one that disappeared if it is being help up on the moderation/spam folder. I'll re-post them here as separate messages.

    Beyond DSGE Models: Toward an Empirically Based Macroeconomics

    Again, it is readable since there is no equation. I've posted these papers at Matt Nolan's blog as well.

  6. School Principal28 Apr 2011, 08:54:00

    Ron Paul has just formed an exploratory committee and that may mean a run for 2012 presidential election.

    He is continuing to press the issue that the US should end its militarism , by closing military bases overseas.

    I partly support that. The US should close half of its foreign bases. I mean, Japan can definitely look after itself on national defense. Why is the American taxpayers' paying for maintaining a US military base in Japan?


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