Hacker News new | ask | show | jobs
by pekk 3989 days ago
Mathematical descriptions of large-scale static properties like equilibria are patently not the same as, say, dynamic discrete-time simulations with evolving state.

I don't think we have anything satisfyingly like the latter for economics, but to claim that there is no fundamental difference is just inaccurate.

1 comments

DSGE models are precisely "dynamic discrete-time simulations with evolving state" and they are the workhorse of modern macro.