71–80 of 166 posts
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Do countries get to declare how their names are spelled in other languages?
Excuse me? Of course! Do people get to declare their name and pronoun?
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Do you mean the Turkiye government? ;) (Reference to the recent news item that Erdogan made a public statement in which he renamed Turkey to Turkiye in English.)
Do countries get to declare how their names are spelled in other languages?
https://en.m.wikipedia.org/wiki/Name_of_the_Czech_Republic#A...
I bet there has to be better solutions than github.
Wow, cool! The model is specified as a constrained nonlinear optimization problem for which a solution is found using high-quality proprietary numerical solvers.[a] All partial differential equations specifying the model have a basis in economic theory or in heuristics and approximations shown to be consistent with reality. Parameters come directly from (what I assume is a large amount of) economic data collected by…
FYI, the New York Fed's model is written in Julia and also open source. https://github.com/FRBNY-DSGE/DSGE.jl
Oh god, our economy is doomed.
Economics is not a science like physics. We can't do controlled experiments, we can't falsify hypothesis. This leads to very muddy waters and what you are left with are two kinds of economists: Those who tell people what they want to hear and those nobody listens to. Econometrics gives people everything they want to hear, and with a scientific veneer as a bonus. The HN crowd should however appreciate how susceptible…
Why not?
Economics is not a science like physics. We can't do controlled experiments, we can't falsify hypothesis. This leads to very muddy waters and what you are left with are two kinds of economists: Those who tell people what they want to hear and those nobody listens to. Econometrics gives people everything they want to hear, and with a scientific veneer as a bonus. The HN crowd should however appreciate how susceptible…
>We can't do controlled experiments Why not?
Wow now I’m a fan of Denmark! This is the future of government!
Soon they'll have our entire lives modelled out for us. Know what we'll be useful for, optimise to give us exactly what we need and nothing more. What could possibly go wrong.
I much prefer a predictable policy in response to the economy.
I've often wondered whether the first super-intelligent AI that gets created, if it somehow manages to be both under government control and not put to strictly military uses, might be tasked with modelling the economy and deciding on the "correct" set of economic policies. Extending the scope of AI decision-making outside of the realm of economics seems much harder, though, as there's much less training data for ques…
But how would you decide how much to give through UBI next year? How inflation will change in response? How many people will still be needed in jobs?
You still need a model, because the world is changing, and a model helps you understand how.
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>We can't do controlled experiments Why not?
Because people aren't lab mice. My favourite example are claims wrt. experiments for the Universal basic income. These experiments always pertain to people who receive more money than previously, but somehow never include a proportional group of people from whom the money is taken away. To do this experiment correctly, you would have to pick a random sample of the population and do the redistribution regardless of wh…