Gianluca Benigno on the Basics and Policy Functionality of R** and the Dollar’s Imperial Circle
Macro Musings with David Beckworth
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The Unobservable Variable in Standard Macro
I'm somebody who likes to take money seriously. There's a little bit of monetrism flowing in my veins here. But even if you take like a monetrous view, there's an unobservable that you got a no,. And we don't know what real money demand is in real time. So however you want to slice this, there's always going to be some unknown unobservable variable That you're just estimating and plugging it in and hoping that's the best measure.
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