inside the economist s mind phần 2 ppsx

... overlapping- generations model, as two classes of households. One class can trade assets against the state of the world, while the other can’t because it is born later, so it has to trade just on the spot market. ... out some parts of the discussion in the interests of space, but what re- mains is essentially unedited. As most readers will know, David Cass has collaborated extensi...

Ngày tải lên: 10/08/2014, 07:21

... overlapping- generations model, as two classes of households. One class can trade assets against the state of the world, while the other can’t because it is born later, so it has to trade just on the spot market. ... militant Marxist economist. When I developed input–output analysis it was as a response to the weaknesses of classical–neoclassical supply-and-demand analysis. It was...

Ngày tải lên: 09/08/2014, 19:21

... Economics, better known as EDP, was started in 1978. It has some 120 graduates to date. The first of these, a certain Pierre Dehez, set the standards! One of the indicators of success is that EDP has ... you must listen to people who disagree with us. Take the field exams as soon as possible and then visit some other university or universities before returning to Belgium.” That is the...

Ngày tải lên: 09/08/2014, 19:21

... for the model and data set at hand. Presumably, they impose only a subset of the moment conditions because they trust some aspects of their model more than others. This is a type of robustness ... calibration the answer to? Sargent: The best answer I know is contained in work by Hansen and others on GMM. They show the sense in which GMM is the best way to estimate trusted features...

Ngày tải lên: 10/08/2014, 07:21

... established him as the economists’ economist by raising the standards of the entire profession. Paul Samuelson s classic textbook, Economics, first published in 1948, is among the most successful ... 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 20 0...

Ngày tải lên: 09/08/2014, 19:21

... Economics, is now writing a paper analyzing the East Asian crisis using the same concept to explain the situation there. The relation- ship between the government, banks, and enterprises show signs ... 1956; it was my graduate thesis. Blanchard: Did you choose the topic yourself? Did you have a thesis adviser? Kornai: I did choose the topic myself. I had a thesis adviser; Profes...

Ngày tải lên: 09/08/2014, 19:21

... career? Friedman: So far as your questions about economics versus statistics is concerned, 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...

Ngày tải lên: 09/08/2014, 19:21

... hostile 1936 review of The General Theory (occasioned much by Keynes s flippancies about Marshall and the classics”), handsomely acknowledged wisdoms in The General Theory s approaches in his ... only speeds up the day that its industry moves abroad. (2) There has been a 1980 20 03 swing to the right among voters, whose swing away from “altruism” is somewhat proportional to the t...

Ngày tải lên: 09/08/2014, 19:21

... 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 how you could ... underpinnings of the theory has been useful. Now there have also been other papers on this topic that may be what you had in mind. These papers question whether the theory makes a...

Ngày tải lên: 09/08/2014, 19:21

... 20 01. That part of his life has been well documented in newspapers and maga- zines: While at the IMF, he was on the front lines during the Mexican crisis, the Russian crisis, the Asian crises, ... growth theory for so long. The other proposition is that recessions don’t really matter because the loss of consumer surplus is five decimal places down. That strikes me as a problem...

Ngày tải lên: 09/08/2014, 19:21