Evsey Domar, when asked by a graduate student at MIT why the questions in the macroeconomics examination do not change from year to year, is said to have replied, "Ah - but the answers do!"
Tuesday, August 7, 2007
A Bon Mot from the BPEA
From T.N. Srinivasan's comments on Obstfeld and Rogoff, "Global Current Account Imbalances and Exchange Rate Adjustments," Brookings Papers on Economic Activity (2005):