Quote of the day

Leggendo un paper di Ricardo J.Caballero, A Caricature Model of the World Economy, ho trovato questa frase illuminante:

“Also note that much of what I will say has a formal “micro-founded” model in the background (see, in particular, Caballero and Krishnamurthy (2006, 2008a,b, 2009) and Caballero et al (2008a,b)) but I do not make any major effort to draw those connections here. Instead I indulge in the liberating experience of simply writing down equations that roughly capture Things I believe in. (Warning: this should not be done without proper supervision or if you still need to get tenure.)