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« Paul Krugman and Scott Sumner -- who is Nominally Misguided or Speaking Nominal Nonsense? | Main | Bottom-up versus Top-down Macro »

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Paul De Grauwe draws the Lucas model vs Hayek model contrast in a new paper here:

http://www.cesifo-group.de/link/es09_DeGrauwe.pdf

Paul De Grauwe, "Top Down versus Bottom Up Macroeconomics"

I've included a key excerpt at "Taking Hayek Seriously":

http://hayekcenter.org

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