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Philosophers and economists can agree on the intergenerational discount rate and climate policy paths
Nesje, Frikk; Drupp, Moritz A.; Freeman, Mark C.; … - 2022
The estimated values to society from long-term public projects, including climate change mitigation and infrastructure construction, are highly sensitive to the social discount rate (SDR) employed. Governmental guidance on social discounting has predominantly been based on input from expert...
Persistent link: https://www.econbiz.de/10013365181
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Financial returns to collecting rare political economy books
Ursprung, Heinrich W. - 2021
Rare books of political economy are eminently collectable. Using historical prices, I employ hedonic regressions to estimate financial returns to collecting the works of ten eminent political economists and develop a price index for this corpus of collectables. For the observation period...
Persistent link: https://www.econbiz.de/10012437910
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Have macroeconomic models lost their connection with economic reality?
Veen, Tom van - 2020
Macroeconomic theory has developed into increasingly sophisticated mathematical models. In the words of Mankiw … the development of macroeconomic theory over the past 40 years. The focus is on the main lines of thinking and the story … changes in macroeconomic theory and that the current debates after the GFC will be the start of a more plural approach to …
Persistent link: https://www.econbiz.de/10012211109
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The epistemic vices of democracies in the age of populism
Bonatti, Luigi - 2023
rationally (in the sense of rational choice theory) pursuing them. This leads to a certain skepticism towards the idealization of …
Persistent link: https://www.econbiz.de/10014315089
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Household models : an historical perspective
Apps, Patricia (contributor); Rees, Ray (contributor) - 2007
Persistent link: https://www.econbiz.de/10003624695
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Please bring me the New York Times : on the European roots of richard Abel Musgrave
Sinn, Hans-Werner (contributor) - 2007
Persistent link: https://www.econbiz.de/10003499567
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Academic exclusion : some experiences
Hillman, Arye L.; Ursprung, Heinrich W. - 2016
We describe and compare the experiences of academic exclusion of Alexander Del Mar, J.A. Hobson, and Gordon Tullock. While aspects of the circumstances differed, a common element was academic exclusion because of challenges to mainstream views. Alexander Del Mar, J.A. Hobson, and Gordon Tullock...
Persistent link: https://www.econbiz.de/10011481205
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Central banking and crisis management from the perspective of Austrian business cycle theory
Schnabl, Gunther - 2016
The paper analyses the evolvement and effects of central bank crisis management since the mid 1980s based on a Hayek-Mises-Wicksell overinvestment framework. It is shown that, given that the traditional transmission mechanism between monetary policy and consumer price inflation has collapsed,...
Persistent link: https://www.econbiz.de/10011561161
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Another road to serfdom
Komlos, John - 2016
Friedrich Hayek's The Road to Serfdom is an influential book more than seventy years after its publication. This paper examines his arguments and finds that they come up short in many ways and suggests that we have taken "another road to serfdom". Hayek's mind was completely closed to the...
Persistent link: https://www.econbiz.de/10011497774
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Why trade when you can transfer the technology : revisiting smith and ricardo
Acharyya, Rajat; Marjit, Sugata - 2021
This paper explores the possibility of international technology transfer in lieu of trade in a model with absolute and comparative advantage. Countries having absolute advantage in producing a good may offer that technology to a possible trading partner against a fee and both the countries might...
Persistent link: https://www.econbiz.de/10012584221