tag:blogger.com,1999:blog-20142791.post8545693826980228888..comments2024-03-11T07:41:19.149-04:00Comments on The Perfect Substitute: Sargent and Sims Press ConferenceUnknownnoreply@blogger.comBlogger5125tag:blogger.com,1999:blog-20142791.post-29178087861656833342012-09-16T22:28:50.197-04:002012-09-16T22:28:50.197-04:00An OBD II scanner can be a device utilized to inte...An OBD II scanner can be a device utilized to interpret codes that are getting presented by the car's computer system.auto code scannerhttp://www.kfzdiagnosegeraet.de/noreply@blogger.comtag:blogger.com,1999:blog-20142791.post-29133122850535656992011-10-27T16:07:50.779-04:002011-10-27T16:07:50.779-04:00Right on, Will. I was disgusted by the Schiff vide...Right on, Will. I was disgusted by the Schiff video, too. The distortion goes a step beyond what you explained, though. Sargent did go on to talk about the issues that are salient in the public discussion about Europe -- though he set his discussion in a different time and place, namely, 18th century America at the time of the Articles of the Confederation. <br /><br />It's a great way to say, 'I don't know all the facts of the matter as they are unfolding in real time today, but I do know that whatever the specific problem and solution, we can learn about it by studying the principles at work in a similar case in history.' And that's refreshing.Harry Davidhttps://www.blogger.com/profile/17424107455563750052noreply@blogger.comtag:blogger.com,1999:blog-20142791.post-51232835037985446242011-10-24T22:10:27.434-04:002011-10-24T22:10:27.434-04:00You're welcome,
I agree with Adrian's as...You're welcome, <br /><br />I agree with Adrian's assessment, and his comparison with Krugman.<br /><br />As you say, they are humble even in their own field. One needs a humble mind, with questions rather than certainty, to keep the ideas working and research moving.<br /><br />Best,<br />NCNicolas Cachanoskyhttps://www.blogger.com/profile/16913728606793276232noreply@blogger.comtag:blogger.com,1999:blog-20142791.post-75056178532590687322011-10-24T21:54:42.704-04:002011-10-24T21:54:42.704-04:00Thanks for the link, Nicolas. I especially like th...Thanks for the link, Nicolas. I especially like this comparison between Sims/Sargent and Krugman (please excuse the horrible translation):<br /><br />ORIGINAL<br />"Yo valoro la posiciĆ³n de Sims y Sargent. Antes que la posiciĆ³n de Krugman, de responder cualquier pregunta, sea o no de su campo de estudio, prefiero la humildad de limitar a los galardonados a responder sobre aquello por lo cual obtuvieron el premio."<br /><br />TRANSLATION<br />"I appreciate the position Sims and Sargent take. I prefer their humility to limit questions they will answer to those for which got the prize to Krugman's position, which is to answer any question regardless of whether it is within his specialized field."<br /><br />I am surprised more people are not making this comparison. They are humble and reserved; he uses the prize as leverage in the policy world. The only thing I would add is that Sims and Sargent are humble EVEN IN their narrow course of study. I think that is a very respectable position to take.<br /><br />Their contributions to macro are much broader than vector auto regressions. Sargent played an important role in overturning the Keynesian consensus through rational expectations and has also done some groundbreaking research on less-than-fully-rational expectations. His work on the unpleasant monetarist arithmetic and the fiscal origins of hyperinflation is great also. And, contrary to Schiff's claim, he mentions most of this in the press conference.<br /><br />Here is an excellent interview with Sargent:<br />http://www.minneapolisfed.org/publications_papers/pub_display.cfm?id=4526<br />I know much less about Sims, but I plan to read a lot about him in the coming weeks...Will Lutherhttps://www.blogger.com/profile/18245369390177307556noreply@blogger.comtag:blogger.com,1999:blog-20142791.post-7798147656085984412011-10-24T20:55:51.842-04:002011-10-24T20:55:51.842-04:00Very interesting, we had a very similar discussion...Very interesting, we had a very similar discussion (and conclusions) a few days ago. It is, however, in Spanish...<br /><br />http://puntodevistaeconomico.wordpress.com/2011/10/19/peter-schiff-contra-los-nuevos-premio-nobel/<br /><br />Best,<br />NCNicolas Cachanoskyhttps://www.blogger.com/profile/16913728606793276232noreply@blogger.com