Would Policymaker Use of Complexity Analysis Make Economics More Relevant to the Real World?
Debate at the 2017 Festival of Economics, Bristol, chaired by Romesh Vaitilingam
- Join us today 12.30 PM for #economicsfest debate with OECD Catherine L Mann and Oxford University Doyne Farmer @UoBris_IAS @FestivalofIdeas http://bristol.ac.uk/ias/diary/2017/realworldeconomics.html … pic.twitter.com/9UUKSZ9sMX
- Is standard economic forecasting fit for purpose? Or do policymakers need complexity analysis? #economicsfest http://www.ideasfestival.co.uk/events/debate-doyne-farmer-and-catherine-mann/ …
- About to watch @CLMannEcon and Doyne Farmer debating at Bristol #economicsfest pic.twitter.com/6bSc3LL0pU
- Catherine Mann, Chief Economist, OECD - complexity analysis in real world economics #economicsfest @UoBris_IAS @FestivalofIdeas pic.twitter.com/avI3Qi7tNV
- "Why has monetary policy not had quite the effect that we thought?" @CLMannEcon on transmission channels #economicsfest
- Channels of transmission (risk, uncertainty) affect effectiveness of monetary policies #economicsfest @UoBris_IAS @FestivalofIdeas
- The state of the world economy - my short film interview with @CLMannEcon @OECD, #economicsfest @voxeu http://voxeu.org/content/state-world …
- Forecasting macro-economic behaviour (growth, inflation) short term to 20yr projections #economicsfest @UoBris_IAS @FestivalofIdeas
- Doyne Farmer, Physicist, Oxford Martin School, “economics is hard - atoms don’t think!” #economicsfest @UoBris_IAS @FestivalofIdeas pic.twitter.com/mKQZM2iQhb
- If we treat all economic shocks as exogenous, we're saying that it's someone else's problem to understand why they happened - Doyne Farmer at #economicsfest
- Are business cycles chaotic? Complexity analyst Doyne Farmer @RebuildMacro, #economicsfest @FestivalofIdeas https://www.rebuildingmacroeconomics.ac.uk/business-cycles-chaotic-part/ …
- Market reactions to shocks & behaviours as a whole can lead to unexpected collective emergent properties #economicsfest @UoBris_IAS @FestivalofIdeas
- What, how & who are affected by specific policies? Increasing granularity is increasingly challenging to forecast - need machine learning & simulation models #economicsfest @UoBris_IAS @FestivalofIdeas
- The global economic outlook @OECD, #economicsfest @CLMannEcon http://www.oecd.org/eco/outlook/economic-outlook/ …
- "Economics has a long tradition of incremental progress in research - physics uses more radical shifts" - Doyne Farmer at #economicsfest
- Taking Dynamic Stochastic General Equilibrium Model to individual level for deeper understanding of models of change - endogenous dynamics #economicsfest @UoBris_IAS @FestivalofIdeas
- Catherine Mann and Doyne Farmer debate using complexity analysis to inform policy. #economicsfest pic.twitter.com/8yp73SnVOA
- How can we understand our complex economy? Doyne Farmer @INETeconomics, #economicsfest @FestivalofIdeas https://www.youtube.com/watch?v=GPKmFEDLh5E …
- Importance of web-scraping and judicious assumptions for better modelling #economicsfest @UoBris_IAS @FestivalofIdeas
- "I'm an engineer, not a physicist" - @CLMannEcon's response on the need to solve the policy problem at hand #economicsfest
- Need to build behavioural assumptions into models at people level #economicsfest @UoBris_IAS @FestivalofIdeas @Doynefar
- Is the world becoming more rational? Increase in potential collective rationality but individual behaviour unpredictable #economicsfest @UoBris_IAS @FestivalofIdeas
- Bristol Centre for Complexity Sciences, #economicsfest debate @FestivalofIdeas http://www.bristol.ac.uk/bccs/
- For those at the current #economicsfest session on complexity analysis ... https://twitter.com/TheEconocracy/status/931144947339808768 …
- Strong, balanced, sustainable inclusive growth is the aim of the G20 #economicsfest @UoBris_IAS @FestivalofIdeas
- Better job of predicting financial crisis? Early warning indicators were all there but not picked up #economicsfest @UoBris_IAS @FestivalofIdeas
