Potlucking

So much more appetizing than politicking...  or pot licking, for that matter.  Anyways.

Macro model party, all via Mark Thoma.
Forecasting ability of macroeconomic models, professional kind, theoretical kind, some old school Keynesian-type kind.  None do a very good job.  Research says "No" to Krugman saying "No" to DSGE.
Noah Smith defending (weakly) Lucas/Prescott.  "No" to forecast, but policy implications are OK.  I started thinking about Minority Report with the mention of the Lucas Critique; you know someone's going to murder someone else, but then you have actions which change that.  Now I'm thinking of Back to the Future.

I buy it.  Forecasting, unless you're keeping track of everything, is impossible because of stochastic, random(ish?) events.  The movie Limitless is a lie.  The usefulness is in policy analysis.  At least think a little bit about how people might react/interact to policy changes which an older macromodel might not be able to handle as cleanly.

PS.  Sorry for the tangents.
PPS.  Yes please.  Electric DeLorean DMC.