
Macro-Economics Struggles to Cope with Reality - Osiris30
http://www.bloomberg.com/view/articles/2016-06-10/economics-struggles-to-cope-with-reality
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nabla9
The article is too damning of DSGE models.

DSGE modeling accuracy is comparable to the vector atoregression with just
tiny amount of parameters. They are used because they clearly capture
something from the dynamics of the economy.

From two models with equal accuracy, the one with smaller amount of parameters
is usually better.

