inside the economist s mind phần 3 potx
inside the economist s mind phần 3 potx
... the Western economists who went as advisers to Eastern Europe orRussia after the change of the system were forced to discover on the spotthat everything depends on the context; in this sense ... not resist asking Bob a few questions about his GSIA years in the interview.Many researchers in the economics profession have been impressedand inspired by Lucas s technical skills, but the clarity ... shocks, inyour opinion, in generating business cycles?Lucas: The answer must depend on which cycles we are talking about.If we are discussing the U .S. Depression in the 1 93 0s or the depressionin...
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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 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 1 pdf
... HarvardUniversity, 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 ... 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 ... as partof the Cold War enlistment of mathematicians and economists in thatwar. The hypothesis of the politically disinterested scientist economist is falsified by such work, and in Aumann’s...
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Inside the economist s mind phần 2 pdf
... 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. ... 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, ... him to discuss mod-ern macroeconomics and the influence his work has had on itsdevelopment. We edited out someparts of the discussion in the interests of space, but what re-mains is essentially...
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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 1 936 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 ... forecasts. No Tom Kuhn casestudy here at all.Barnett: Let s get back to your own post-1 936 macro hits and misses,beliefs, and evolutions.Samuelson: As in some other answers to this interview s ... 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 8 ppsx
... discussions between Jean Gabzsewicz and Jacques Thisse. Then,Louis Phlips convened the first meeting of about 30 economists fromdifferent European countries where the project was discussed. Most ... PierreDehez, set the standards! One of the indicators of success is that EDPhas been copied and emulated by several others. These joint degrees,with obligation for the students to spend time at two institutions, ... 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...
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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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