inside the economist s mind phần 7 doc

... that was because we were dealing simul- taneously with the Indonesian crisis, which was at its height at the same time. The Russian crisis was particularly dramatic. We saw the storm clouds gathering, ... Peterson, at Michigan, stressed this, but it was also my physics professors that stressed to me the importance of units of measurement. We write most of our long-term contracts in...

Ngày tải lên: 10/08/2014, 07:21

... 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

... asked many of the same questions to both, and focused much of the conversation on the issue of whether it is useful to distinguish a Yale school. Thus, the conversations discuss the work of other ... profession itself, I guess there is a strong current for equi- librium solutions. There always has been. The rational-expectations New Classical real business theory also offered youn...

Ngày tải lên: 09/08/2014, 19:21

... the results and asked whether the things that were most sensitive to resource supply were the things that should be most sensitive. The answer was “Certainly not.” I also studied questions such as economies ... leave the lag coefficients unrestricted and restrict only the contemporaneous responses to the shock. Those restrictions by themselves would fit per- fectly into a Cowles C...

Ngày tải lên: 10/08/2014, 07:21

... cetera. The entire course consisted of his assigning exercises and then calling on the students to present the solutions on the blackboard. It s called the Moore method—no lectures, only exercises. ... 15a, and the list can be made much longer. But of course, all these discussions are only the barest of hints. We still need the game theory to understand these matters. The T...

Ngày tải lên: 10/08/2014, 07:21

... studies selfishness. Obviously, studying war is not the same as advocating war; similarly, studying selfishness is not the same as advocating selfishness. Bacteriologists do not advocate disease; they study ... described me, in developing the so-called neoclassical synthesis. I don’t think neoclassical synthesis is a good name for it, since it was a neoclassical/ neo-Keynesian synthesis, b...

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 2001)...

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 ... 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; Professo...

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