Chaos is not a "theory"

glevy at glevy at
Wed Sep 20 23:37:08 MDT 1995

Steve K wrote:

 The best we can hope for is to uncover the
> salient factors, and leave the rest to "exogenous factors".
And how do you go about determining which variables should be exogenous?
I'll grant you that your preference for Vietnamese pork rolls doesn't
have a significant impact on the trade cycle, but what variables of
import are held constant? I believe that this is a rather significant
question for all economic modelling, no?


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