Past, Current and Future Macroeconomic Models

Past, Current and Future Macroeconomic Models

The Great Recession after the financial crisis gave rise to a lot of criticism of contemporary macroeconomic models. The standard modeling assumptions were severely challenged by scholars and policy makers, as they could not account for frictions in the financial...
Eating your cake the right way

Eating your cake the right way

For some reason I always have a hard time making inter-temporal decisions. Should I drink a few more beers tonight, taking into account that I have a lecture at 9 am tomorrow? Should I buy that new piece of clothing or save to accumulate some (possibly negative)...