A Joke for Econ Grad Students

A group of macroeconomists are sitting on a panel at a conference discussing developments in the discipline.

In a heated exchange, the New Keynesian says to the Real Business Cyclist: “You guys have put macroeconomics back twenty years with this nonsense!”

The Real Business Cyclist smiles and says “So you DO believe in negative productivity shocks after all.”

Pointer from student Gabriel Mihalache, who remarks: "I don’t know what’s more perverse...that I understand the joke or that I find it really funny."