Lucas critique and the modularity assumption

Created
Fri, 10/11/2023 - 02:33
Updated
Fri, 10/11/2023 - 02:33
Prima facie modular systems seem very special. But a number of authors suppose that modularity is the hallmark of causality … I have two objections to the usual claims about modularity. First, it is not a hallmark of causality. Recall the Phillips curve, a canonical example of a non-modular causal connection – one that, à […]

Tags