The first and most optimistic response was complete rational expectations econometrics. A rational expectations equilibrium is a likelihood function. Maximize it.
The first and most optimistic response was complete rational expectations econometrics. A rational expectations equilibrium is a likelihood function. Maximize it.
Creating dynamic equilibrium macro theories and building a time series econometrics suitable for estimating them were both big tasks.
© 2020 Inspirational Stories
© 2020 Inspirational Stories