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30 sats \ 3 replies \ @Undisciplined 2 Apr \ parent \ on: Mini Pleb Economist: AAR from the classroom econ
Even my macro professors usually chuckled when they introduced that part of the model. I struggle being very harsh towards them, because they also know that what they're doing is pretty silly.
Yeah they're not dumb, it's just that their professional incentives don't really align with actually doing anything about this weakness
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I get what they're doing and it's not any worse than what most of our professions does.
They take the approved models (which contain assumptions we all know are wrong) and they tweak it a little in the hope the new model has some improved explanatory power.
No one really wants to take big swings or go out on a limb with a whole new assumption set. Getting that kind of stuff through the review process is a huge pain in the ass. It's so much easier to just say "Following on what so-and-so did..."
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Seriously. One trick I learned after many years of experience is to throw the referees some red meat, coz they feel obligated to criticize something. So throw some red meat in there for them to criticize but that doesn't invalidate the main point of the paper
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