inside the economist s mind phần 5 pps

... other issues in Classical economics (1 957 , 1978). In macroeconomics, Samuelson s multiplier–accelerator macrodynamic model (1939) is justly famous, as is the Solow–Samuelson presentation of the ... domestically. Consequently, there is some sadness today when he looks back on his career, but there is also a sense of accomplishment. In spite of everything, there was no depression and the...

Ngày tải lên: 10/08/2014, 07:21

... 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 ... bubbles do exist. They are one of the sources of malfunctioning of the market mechanism. The essence of these bubbles is that indeed capital gains get confused with profits, and th...

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

... remarkable “Non-Substitution” theorems (1 951 ) and, in his famous paper 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 by Keynes s flippancies about Marshall and the classics”), handsomely acknowledged wisdoms in The General Theory s approach...

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

... 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

... 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 ... costs for low-skilled workers. The position paper was one of the first public documents to stress the deterioration in the market position of unskilled workers. So, for the unskilled wo...

Ngày tải lên: 10/08/2014, 07:21

... 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 ... period through the collaboration of scientists, engineers, military planners and strategists, and social scientists, particularly economists. The kinds of tools and symmetries in ana...

Ngày tải lên: 09/08/2014, 19:21

... 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 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.: Government Printing Office. Davi...

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