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This paper estimates the nature and magnitude of the local externalities from own industry scale, as envisioned by Marshall. Census panel data on individual plants in high-tech and machinery industries across up to 487 countries are utilized, to quantify the direct effects of local external...
Persistent link: https://www.econbiz.de/10012471426
This essay offers a brief history of macroeconomics, together with an evaluation of what has been learned over the past several decades. It is based on the premise that the field has evolved through the efforts of two types of macroeconomist-- those who understand the field as a type of...
Persistent link: https://www.econbiz.de/10012466316
recent economics research on prominent ideas in moral psychology. First, the theory that morality is ultimately economically … politico-economic outcomes influence each other if they engage with research in economics …
Persistent link: https://www.econbiz.de/10014512133
Economics is not only a social science, it is a genuine science. Like the physical sciences, economics uses a …, economics stresses three factors that distinguish it from other social sciences. Economists use the construct of rational … have allowed economics to invade intellectual territory that was previously deemed to be outside the discipline's realm …
Persistent link: https://www.econbiz.de/10012471484
This review considers the evolution of economic thinking on the relationship between digital technology and inequality across four decades, encompassing four related but intellectually distinct paradigms, which I refer to as the education race, the task polarization model, the...
Persistent link: https://www.econbiz.de/10013210102
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...
Persistent link: https://www.econbiz.de/10012456423
In recent years, comparative economics experienced a revival, with a new focus on comparing capitalist economies. The …
Persistent link: https://www.econbiz.de/10012469090
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
role of secondary markets in providing opportunities for redistributing risk is made transparent and the modifications …
Persistent link: https://www.econbiz.de/10012478938