With central banks becoming monetary authorities, research departments have become a core element of a modern central bank. Crucial elements of a central bank research department are contributing to monetary policymaking and sustaining a dialogue with the academic community. The importance of...

Main description: Der vorliegende Band der Studien zur Entwicklung der ökonomischen Theorie vereinigt die überarbeiteten Referate der 24. Tagung des Dogmenhistorischen Ausschusses des Vereins für Socialpolitik an der Universität Oldenburg, die sich mit dem Verhältnis von Ökonomie und...

After World War II, a new disciplinary field called “development economics” emerged, as economists began to shape specific theories in order to address the practical problems they were facing in less developed countries. Theory arose out of practice, in the sense that the shaping of...

This paper discusses a longstanding debate between two empirical approaches to macroeconomics: the econometrics program represented by Lawrence R. Klein, and the statistical economics program represented by Milton Friedman. I argue that the differences between these two approaches do not consist...

We identify three separate stages in the post-World War II history of applied microeconomic research: A generally non-mathematical period; a period of consensus (from the 1960s through the early 1990s) characterized by the use of mathematical models, optimization and equilibrium to generate and...