Inside the economist s mind phần 5 pptx
Inside the economist s mind phần 5 pptx
... remarkable “Non-Substitution” theorems (1 951 ) and, in his famouspaper with Solow (1 953 ), initiated the analysis of dynamic Leontief systems.This work was reiterated in his famous 1 958 volume on ... hostile 1936 review of The General Theory (occasioned much byKeynes s flippancies about Marshall and the classics”), handsomelyacknowledged wisdoms in The General Theory s approaches in his ... times” money is tight rather than loose: Safe Treasury bills arecheap as dirt just because effective tightness of credit chokes off businessactivity and thereby lowers the market-clearing short...
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Inside the economist s mind phần 7 pptx
... his life has been well documented in newspapers and maga-zines: While at the IMF, he was on the front lines during the Mexicancrisis, the Russian crisis, the Asian crises, and many others. ... growththeory for so long. The other proposition is that recessions don’t reallymatter because the loss of consumer surplus is five decimal places down.That strikes me as a problem with the calculation ... psychology.But, on the other hand, economists, such as Milton Friedman, seemedto assume that is the only thing one could do with surveys, and to adviseinstead that economists should rely exclusively on...
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Inside the economist s mind phần 1 pdf
... to see that the history of economics is not just the history told by the research scientists themselves, but it is a history of the import and impact of ideas (see Bernstein 2001).In this passage ... periodthrough the collaboration of scientists, engineers, military planners andstrategists, and social scientists, particularly economists. The kinds oftools and symmetries in analysis that Samuelson ... economics and the economists’ livesand about, in a larger sense, how a community of modern social scientistsconducts its business. The conversations are unusual records. Though they provide the readerwith...
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Inside the economist s mind phần 2 pdf
... militant Marxist economist. When Ideveloped input–output analysis it was as a response to the weaknessesof classical–neoclassical supply-and-demand analysis. It was terribly dis-jointed essentially, ... University Press.Brush, S. G. (19 95) Scientists as historians. Osiris 10, 2 15 231.Bush, V. (19 45) Science: The Endless Frontier. Washington, D.C.: GovernmentPrinting Office.Davis, J.R. (1971) The New ... twoprofessors. I was research assistant of Professor Sombart, who was a quiteinteresting historical economist, and Bortkiewicz, who was a mathemat-ical economist. But Professor Sombart didn’t understand...
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Inside the economist s mind phần 3 pps
... East Asiancrisis using the same concept to explain the situation there. The relation-ship between the government, banks, and enterprises show signs of the soft-budget-constraint syndrome. The ... bubbles do exist. They are one of the sources ofmalfunctioning of the market mechanism. The essence of these bubblesis that indeed capital gains get confused with profits, and this results in the ... complex analysis of the two systems. But these two books, and a fewothers (e.g., some of Mises s and Hayek s works) are rather exceptional.A typical American textbook on economic systems is not written...
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Inside the economist s mind phần 4 pps
... career?Friedman: So far as your questions about economics versus statistics isconcerned, you should note that, for the two years before I went to the Statistical Research Group, I was at the U .S. Treasury ... tested and I derived its implications.I tested those implications and, on the whole, they tended to confirm the hypothesis. I suggested additional tests that should be made to test the hypothesis. ... very well, the consumers in Europe are suffering, the con-sumers in the United States are getting a good deal, and the opposite istrue for the producers in the United States. And there s very little...
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Inside the economist s mind phần 6 potx
... but also that they should have smooth time paths. The data show the slow and smooth cross-variable responses, but not the correspondingly smooth time paths. The stickiness paper showed howyou could ... underpinnings of the theory has been useful.Now there have also been other papers on this topic that may be whatyou had in mind. These papers question whether the theory makes anysense at all. ... and hisinfluence got the work some attention, but it s true that most economistsfound these methods hard to follow.Hansen: Your first job was as an assistant professor at Harvard. Whatwas it...
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Inside the economist s mind phần 8 ppsx
... Economics, better known as EDP, was started in 1978. Ithas some 120 graduates to date. The first of these, a certain PierreDehez, set the standards! One of the indicators of success is that EDPhas ... you must listen to people who disagree with us. Take the field exams as soon as possible and then visit some other university oruniversities before returning to Belgium.”That is the best advice ... Lucas s Critiquewas to urge applied macroeconomists and econometricians to developways to implement those cross-equation restrictions. His paper had threeexamples. What transcends them is their...
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Inside the economist s mind phần 9 ppt
... theory.statisticsGAMETHEORYchemistrypsychologyeconomics. . . . .biologypolitical science. . .mathematicscomputer sciencelawof the aspects and understands less and less of the others. ... hands with this stuff.”There is no justification for this in the game-theoretic sociology, just asthere was no justification for it in the mathematics sociology. Each oneof these branches of the ... as RAs. It was a thrill teaching classes to suchstudents. Often I knew less than the students I was “teaching.” Ourphilosophy at Minnesota was that we teachers were just more experi-enced students.One...
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Inside the economist s mind phần 10 doc
... profession itself, I guess there is a strong current for equi-librium solutions. There always has been. The rational-expectationsNew Classical real business theory also offered young economists ... them, whether they are testable. Nowhere else in sciencedoes one directly test assumptions; a theory stands or falls by the validityof the conclusions, not of the assumptions.ITEC 15 8/ 15/ 06, ... of television-news sound-biteeconomists who are always ready to discuss what was said on the floor of the House yesterday.Colander: Your view strikes me as having similarities with the Santa Fecomplexity...
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