----- Original Message ----- From: "Doug Henwood" <dhenwood at panix.com> To: "lbo-talk" <lbo-talk at lbo-talk.org> Sent: Monday, October 11, 2004 7:08 AM Subject: [lbo-talk] Kydland & Prescott win econ "Nobel"
[I haven't studied it in detail, but what I've read of real bizcycle theory sounds like a lot of right-wing mystification.]
Norwegian, American Win Nobel Economics Prize By Jan Strupczewski and Stephen Brown
STOCKHOLM (Reuters) - Finn Kydland of Norway and Edward Prescott of the United States won the Nobel economics prize Monday for research that laid the groundwork for more independent central banks and explained business cycles.
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An utterly withering attack was done on K & P and Robert Solow by former Federal Reserve economist Kevin Hoover in:
Technology Shocks or Coloured Noise? Why real-business-cycle models cannot explain actual business cycles Kevin D. Hoover & Kevin D. Salyer 299 Review of Political Economy Volume 10 Number 3 July 1998
The folks at the Bank of Sweden must not get out much..........
Ian