inside the economist s mind phần 4 pot

... Trends in the United States, which was his doctoral disserta- tion, was essentially data analysis. The thesis of the book is that retarda- tion in the growth of each industry separately does not ... thing as a business cycle. I think there are fluctuations and there are reaction mechanisms. Various parts of the economy react systemat- ically to shocks to the system, but in the se...

Ngày tải lên: 10/08/2014, 07:21

... 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. ... 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 wa...

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

... the Western economists who went as advisers to Eastern Europe or Russia after the change of the system were forced to discover on the spot that 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 impressed and inspired by Lucas s technical skills,...

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 1 948 , 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 200...

Ngày tải lên: 09/08/2014, 19:21

... 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

... East Asian crisis 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 ... laboriously in about 30 pages. The reason for the laboriousness was in part because the theorem was so much against the grain of the teachings of corporate finance the art and...

Ngày tải lên: 09/08/2014, 19:21

... with Paul A. Samuelson 145 Samuelson was also instrumental in establishing the modern theory of pro- duction. His Foundations (1 947 ) are responsible for the envelope theorem and the full characterization ... 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...

Ngày tải lên: 09/08/2014, 19:21

... 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, and many others. ... understood since the days of Adam Smith. That is why people worked on growth theory for so long. The other proposition is that recessions don’t really matter because the loss of consum...

Ngày tải lên: 09/08/2014, 19:21

... Pierre Dehez, set the standards! One of the indicators of success is that EDP has been copied and emulated by several others. These joint degrees, with obligation for the students to spend time at two institutions, ... discussions between Jean Gabzsewicz and Jacques Thisse. Then, Louis Phlips convened the first meeting of about 30 economists from different European countries where the...

Ngày tải lên: 09/08/2014, 19:21