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Saturday, February 21, 2009

The Limitations of Econometric Computer Models

Computer models were the tools employed to inflate the subprime mortgage balloon that precipitated collapse of our financial markets.  And the same sorts of inherently faulty computer models are generating proclamations that President Obama’s near-trillion-dollar stimulus and mortgage protection programs will create millions of new jobs and restore the economy to prosperity.

Posted by Thomas E. Brewton on 02/21 at 10:15 PM
Economics • (8) Comments
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