2

Some example of large macro models would be the the World Banks macro-fiscal model or Smets-Wouters DSGE model. How will having access to high computing power change the models is very opinion based question I don’t think anyone can predict that but I will indulge you. With increasing computer power it will be definitely possible to make these models more ...


2

As we discussed in the comments, in William Jacob's An Historical Inquiry Into the Production, and Consumption of the Precious Metals, on page 101 it says It is probable that in all ages those metals have cost more in their production than their value ever repaid. This is the likely source of the quote.


1

We must first remember the fact that, at the time Karl Marx wrote his Das Kapital work, it was approximately twelve years after Eschwege died, as these are keys to be able to understand which would be the chief accuracy here... As it happens, the claim you presented itself contains major hints as to its authentic, primary source. (In actuality, as it turns ...


1

Just to add to @1muflon1's point: availability and standardization of data aside, the mere ability to run more detailed models can potentially have drastic effects on output. In complex systems, activity at small scales can impact phenomena at larger scales through mechanisms that are not always completely understood in the literature. This is a ...


1

In case someone wanted the links for some of the references in the comments. Brookings Institute Peterson Institute for International Economics


Only top voted, non community-wiki answers of a minimum length are eligible