Inside the economist s mind phần 8 ppsx
Inside the economist s mind phần 8 ppsx
... Economics, better known as EDP, was started in 19 78. 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 ... col-lected papers, Essays on Economic Decisions Under Uncertainty, consists ofseveral parts: individual as well as public decisions, market equilibrium, con-sumer as well as producer decisions, human...
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inside the economist s mind phần 8 ppsx
... for the model and data set at hand. Presumably, they impose onlya subset of the moment conditions because they trust some aspects oftheir model more than others. This is a type of robustness ... Economics, better known as EDP, was started in 19 78. 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 ... costs for low-skilled workers. The position paper was oneof the first public documents to stress the deterioration in the marketposition of unskilled workers. So, for the unskilled workers,...
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inside the economist s mind phần 2 ppsx
... overlapping-generations model, as two classes of households. One class can tradeassets against the state of the world, while the other can’t because it isborn later, so it has to trade just on the spot market. ... out someparts of the discussion in the interests of space, but what re-mains is essentially unedited. Asmost readers will know, DavidCass has collaborated extensivelywith Karl Shell over the ... Wrightbusiness school; even though they had a Master in Business Administra-tion program, it was just not a traditional business school.MD: This would have been around 1970?Cass: Yes, this was in...
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Inside the economist s mind phần 1 pdf
... Analysis, based upon his Ph.D. dissertation at HarvardUniversity, established him as the economists’ economist by raising the standards of the entire profession. Paul Samuelson s classic textbook,Economics, ... periodthrough the collaboration of scientists, engineers, military planners andstrategists, and social scientists, particularly economists. The kinds oftools and symmetries in analysis that Samuelson ... 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...
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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, ... statesof the world and we interpret it, in the structure of the overlapping-generations model, as two classes of households. One class can tradeassets against the state of the world, while the other ... 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 ... laboriouslyin about 30 pages. The reason for the laboriousness was in part because the theorem was so much against the grain of the teachings of corporatefinance the art and science of designing 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 inthe...
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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 5 pptx
... 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 ... forecasts. No Tom Kuhn casestudy here at all.Barnett: Let s get back to your own post-1936 macro hits and misses,beliefs, and evolutions.Samuelson: As in some other answers to this interview’s...
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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 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. ... understoodsince the days of Adam Smith. That is why people worked on growththeory for so long. The other proposition is that recessions don’t reallymatter because the loss of consumer surplus ... 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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