Univ. of Michigan's Wolfers: You Want to Be Less Model-Driven

The video discusses the concept of R-Star and its impact on long-term interest rates, highlighting Larry Summers' evolving views. It explores the ongoing influence of the pandemic on the economy, including labor supply and work-from-home trends. The discussion also covers central bank strategies in a post-pandemic world and emphasizes the importance of humility in economic predictions.

What does the speaker suggest about the reliability of economic models in the current context?

How does the speaker view the relationship between data and economic predictions?

Discuss the importance of humility in economics as mentioned in the conversation.