Taylor Swift and Econometric Models

: Back then, in the era before the iPhone and Taylor Swift, Goldman issued two easy-to-grasp papers, replete with colorful graphs, that the bank argued showed our current worldview was about to look topsy-turvy, according to The Guardian. Using econometric models, the writers prophesied that the combined economies of Brazil, Russia, India and China - the Brics for short - would grow bigger than the current six leading economies within 40 years. This week they may well get their ultimate test. Since economic power equals political power, the implications were astounding. Related:Is the game up for China much emulated growth model Jayati Ghosh When the 2008 financial crisis hit the global economy, China experienced only a short slowdown and afterwards it continued to post double digits rates of growth. And for a while it even looked like Goldman Sachs was right. (news.financializer.com). As reported in the news.