Doug:

> What does that prove?

Did I say it proves anything? On the contrary, I said no econometric work
proves anything. So you better be careful about your conclusions from your own
econometric works as well.

What is interesting however is that an Economics PhD student of mine, who was
writing a PhD thesis on some high-level time series stuff, told me and other
students in my stochastic calculus class that Americans did this to themselves.
The majority of non-Americans believe that this is the case and you do not need
proofs to believe anything.

Do you?

Best,

Sabri




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