Max Lybbert

“Those who do use models consistent with general equilibrium add assumptions that make their models much more specific. They may still aim for models general enough to explain many things, but they speak of 'identifying restrictions,' or restrictions that make it possible to 'reject' the models by looking at conventional economic data. I like creating more specific models, too, but only when I have strong economic reasons for the restrictions I add.”
― Fischer Black, Exploring General Equilibrium

“I try to say things clearly. this means confronting the work of others directly, rather than citing it and moving on. It means a nonacademic writing style. It sometimes means stating as fact things that are clearly opinion. No doubt the reader's glasses differ from mine. But we are all looking at the same world, and the technology for making glasses is constantly improving. Someday it will all be clear.”
― Fischer Black, Exploring General Equilibrium

“Estimation' suggests a Bayesian approach to data, while 'testing' suggests a classical approach. I prefer estimation, since I think researchers who want to test often choose models that are more specific than the economics require. They talk of adding restrictions for no reason other than making their models easier to reject.”
― Fischer Black, Exploring General Equilibrium

“I promised a friend I'd walk through hell to get her back,' I said. 'Don't make me bring you with me.”
― Dan Wells, Over Your Dead Body