> Speaking of which, the Journal of Economic Perspectives finally got around
> to having a symposium on the macroeconomics of the crisis.
>
>> my coauthors and I
>> construct a model in which the possibility of incorrect government
>> announcements about the state of the economy impair households’ ability to
>> infer the actual state, and
>> lead households to reduce market hours until they can more clearly deduce
>> the state of the economy.
Wow - it can only be that they lack basic sociological intuition... and economic intuition for that matter.
Mike Beggs