Thursday, March 31, 2011

Macro, short samples, scatterplots

Here's an interesting post at Freakonomics by Justin Wolfers in which he concludes "Be wary of economists wielding short samples."

I like the post for its scatter plots. Here is my favorite plot from his post:



It reminds me of the Phillips curve plots from the 1960s and 1970s (but in reverse).

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