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Now, it was feasible to tweak the old Keynesian SEM models to clarify why inflation did not enhance the economy. But at the exact same time, the aforementioned Lucas and some other heavyweights such as Tom Sargent were revealing that there was a very deep reason those SEM’sshouldn’t work. It boils down to the well-known saying that correlation does not equal causation.” Suppose economists noticed that companies exactly where individuals put on Star Trek T-shirts are …