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The Impact of Milton Friedman on Modern Monetary Economics : Setting the Record Straight on Paul Krugman's "Who Was Milton Friedman?"
Nelson, Edward - 2007
Paul Krugman's essay "Who Was Milton Friedman?" seriously mischaracterizes Friedman's economics and his legacy. In this …-contained guide to Milton Friedman's impact on modern monetary economics and on today's central banks. We also refute the conclusions …
Persistent link: https://www.econbiz.de/10012465100
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The New Comparative Economics
Djankov, Simeon - 2003
In recent years, comparative economics experienced a revival, with a new focus on comparing capitalist economies. The …
Persistent link: https://www.econbiz.de/10012469090
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Ricardo's Theory of Comparative Advantage : Old Idea, New Evidence
Costinot, Arnaud - 2012
When asked to name one proposition in the social sciences that is both true and non-trivial, Paul Samuelson famously replied: 'Ricardo's theory of comparative advantage'. Truth, however, in Samuelson's reply refers to the fact that Ricardo's theory of comparative advantage is mathematically...
Persistent link: https://www.econbiz.de/10012460690
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Keynesian Macroeconomics without the LM Curve
Romer, David - 2000
Changes in both the macroeconomy and in macroeconomics suggest that the IS-LM-AS model is no longer the best baseline model of short-run fluctuations for teaching and policy analysis. This paper presents an alternative model that replaces the assumption that the central bank targets the money...
Persistent link: https://www.econbiz.de/10012471315
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The Fallacy of the Fiscal Theory of the Price Level
Buiter, Willem H. - 1999
It is not common for an entire scholarly literature to be based on a fallacy, that is, 'on faulty reasoning; misleading or unsound argument'. The 'fiscal theory of the price level', recently re-developed by Woodford, Cochrane, Sims and others, is an example of a fatally flawed research...
Persistent link: https://www.econbiz.de/10012471482
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The Public Critique of Welfare Economics : An Exploration
Besley, Timothy - 1999
The welfare economic method for analyzing the case for government intervention is often criticized for ignoring the political determination of policies. While many economists accept the thrust of this critique, exactly when and how political determination interferes with a welfare economic...
Persistent link: https://www.econbiz.de/10012471713
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Congestion on the Information Superhighway : Does Economics Have a Working Papers Problem?
Lusher, Lester; Yang, Winnie; Carrell, Scott E. - National Bureau of Economic Research - 2021
Publishing takes a long time in economics. Consequently, many authors release "working" versions of their papers. Using … data on the NBER working paper series, we show that the dissemination of economics research suffers from an overcrowding …
Persistent link: https://www.econbiz.de/10012616601
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Confirmatory Bias in Health Decisions : Evidence from the MMR-Autism Controversy
Qian, Mengcen - 2020
Since Wakefield et al. (1998), the public was exposed to mixed information surrounding the claim that measles-mumps-rubella vaccine causes autism. A persistent trend to delay the vaccination during 1998-2011 in the US was driven by children of college-educated mothers, suggesting that these...
Persistent link: https://www.econbiz.de/10012479296
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The Use and Misuse of Income Data and Extreme Poverty in the United States
Meyer, Bruce D. - 2019
Recent research suggests that rates of extreme poverty, commonly defined as living on less than $2/person/day, are high and rising in the United States. We re-examine the rate of extreme poverty by linking 2011 data from the Survey of Income and Program Participation and Current Population...
Persistent link: https://www.econbiz.de/10012479856
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Better LATE Than Nothing : Some Comments on Deaton (2009) and Heckman and Urzua (2009)
Imbens, Guido W. - 2009
inappropriate use of experimental and quasi-experimental methods in empirical work in economics in the last decade. They … specifically question the increased use of instrumental variables and natural experiments in labor economics, and of randomized … experiments in development economics. In these comments I will make the case that this move towards shoring up the internal …
Persistent link: https://www.econbiz.de/10012463752