William Barnett

Quotes From

Bubbles and Broad Monetary Aggregates: Toward a Consensus Approach to Business Cycles
A challenge for quantity-theoretic explanations of business cycles is that recessions manifest despite central banks’ scrupulousness to avoid falls in monetary aggregates, a fact which would seem to indicate a structural explanation. This paper argues that a broader and theoretically richer Divisia aggregate – which reflects changes in financial market . . .

Hi, I'm C. Harwick, an economist in New York State with an interest in monetary theory, institutional evolution, and folk music.

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Jan1922:51
@ANDevereaux @HarrisonSearles He’s actually making a pure theory point: if you can’t compare someone’s utility across time, it doesn’t make sense to posit a stream of consumption that gives you constant utility across time. (Goal of the book is to reconstruct micro without an explicit utility function)
◄ In reply to @ANDevereaux
Jan1922:48
@HarrisonSearles Although I think Hicks might actually agree that words in general are too fuzzy, I do think he’s convincingly established that these few are *particularly* fuzzy.
◄ In reply to @HarrisonSearles