Wall Street Skips Economics Class

Economists abandoned one type of economic model for another, though Wall Street and the Fed stick with the old model. Who's right?
After-school detention for you.

If you care at all about what academic macroeconomists are cooking up (or if you do any macro investing), you might want to check out the latest economics blog discussion about the big change that happened in the late '70s and early '80s. Here's a post by the University of Chicago economist John Cochrane, and here's one by Oxford's Simon Wren-Lewis that includes links to most of the other contributions.

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