Klein can well be said to have created the field of macroeconometric modeling almost singlehandedly. His international influence started at an early stage. The article offers scattered archive observations on Klein's early years from undergraduate study to the University of Pennsylvania in 1958....

Notwithstanding his fundamental contribution to the critique of the neoclassical notion of capital, we maintain that Pierangelo Garegnani’s research has been especially characterized by the reconstruction of an alternative approach to economics. Following Sraffa’s lead, Garegnani found such...

Based on long-term studies and archive documents, memories of employees of the Institute of Economics at the Bulgarian Academy of Science (BAS) and personal impressions an attempt was made to find out how it was established. Unknown or concealed facts are focused – the succession from the...

Based on long-term studies and archive documents, memories of employees of the Institute of Economics at the Bulgarian Academy of Science (BAS) and personal impressions an attempt was made to find out how it was established. Unknown or concealed facts are focused – the succession from the...

Much of the literature surrounding Schumpeter's 1942 Capitalism, Socialism and Democracy has focused on his reformulation of democratic theory rather than on the perceived tensions in the classical variant which motivated his reorientation. In contrast to the position of Schumpeter, the rational...

This paper studies life cycle creativity among Nobel laureate economists. We identify two distinct life cycles of scholarly creativity. Experimental innovators work inductively, accumulating knowledge from experience. Conceptual innovators work deductively, applying abstract principles. We find...

Volatility in exchange rates is a prominent feature of open economies, a fact which has motivated elaborate attempts in many countries at exchange rate management. This paper analyzes quantitatively the welfare effects of exchange rate risk in a general two-country environment. It finds that the...

The 2014 John Bates Clark Medal of the American Economic Association was awarded to Matthew Gentzkow of the University of Chicago Booth School of Business. The citation recognized Matt's "fundamental contributions to our understanding of the economic forces driving the creation of media...

This paper concerns a neglected aspect of Lucas's work: his methodological writings, published and unpublished. Particular attention is paid to his views on the relationship between theory and ideology. I start by setting out Lucas's non-standard conception of theory: to him, a theory and a...

Some 150 years ago Hermann Heinrich Gossen passed away. Who was this author after whom one of the prizes of the Verein of Socialpolitik is named? The paper provides a critical summary account of Gossen’s work. Gossen was convinced that he had discovered the only faithful interpretation of the...