inside the economist s mind phần 8 ppsx

... Economics, better known as EDP, was started in 19 78. 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 ... Economics, better known as EDP, was started in 19 78. 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 t...

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. ... 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

... Analysis, based upon his Ph.D. dissertation at Harvard University, established him as the economists’ economist by raising the standards of the entire profession. Paul Samuelson s classic textbook, Economics, ... period through the collaboration of scientists, engineers, military planners and strategists, and social scientists, particularly economists. The kinds of tools and symmet...

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, ... states of the world and we interpret it, in the structure of the overlapping- generations model, as two classes of households. One class can trade assets against the state of th...

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

... 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 ... times” money is tight rather than loose: Safe Treasury bills are cheap as dirt just because effective tightness of credit chokes off business activity and thereby lowers the market-clearing s...

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

... 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