by Philip Pilkington
Someone said to me a while back:
“Phil, you are always railing against econometrics but some of the MMT guys and quite a few Post-Keynesians maintain that these techniques are useful and valid”.
I recognise this fully well actually. It preoccupies me perhaps more than it should. Indeed, Post-Keynesians are using econometrics with increasing frequency – and at the very same time they are becoming increasingly interested in highly abstract modelling. I’m not a big fan of this trend as readers of this blog will probably have guessed.