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For the past two decades, economics has developed into a science in which just one methodology and one theory have …
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Ongoing demographic change will lead to a relative scarcity of raw labor to the effect that output growth will be decreasing in the next decades, a secular stagnation. As physical capital will be relatively abundant, this decrease of output will be accompanied by reductions of asset returns. We...
Persistent link: https://www.econbiz.de/10011537898
In this paper we conduct a quantitative analysis of a number of stylized educational loan systems. We develop a stochastic general equilibrium model of a closed economy with a competitive firm sector and a government that levies taxes and administers educational loans. Individuals are...
Persistent link: https://www.econbiz.de/10010418274
We study the environmental and economic effects of public abatement in the presence of multiple stable steady-state ecological equilibria. Under shallow-lake dynamics (SLD), the isocline for the stock of pollution features two stable branches, a good and a bad one. Assuming that the ecology is...
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economics (EE). This article aims to address this lacuna. To do so, we analyze the use of statistical tools in EE from early … economics experiments of the 1940s-1950s to the present days. Our narrative is based on qualitative analysis of papers published …
Persistent link: https://www.econbiz.de/10011810043
For the creation of Concordian econometrics, this paper offers a synthetic view of some technical characteristics of … Concordian economics, a new field of research that yields an advanced understanding of the complexities of the economic process …, including bubbles, for three fundamental reasons: First, Concordian economics integrates into its analysis hoarding, defined as …
Persistent link: https://www.econbiz.de/10013008724
This paper provides a tribute to Edmond Malinvaud's contributions to econometrics. We overview the primary original … contributions in Edmond Malinvaud's masterful work The Statistical Methods of Econometrics. This advanced text developed a complete … treatment of linear estimation theory using geometric methods and, for the first time, provided rigorous nonlinear regression …
Persistent link: https://www.econbiz.de/10013020487