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Toward a Political Economy of Macroeconomic Thinking
Saint-Paul, Gilles - 2011
This paper investigates, in a simplified macro context, the joint determination of the (incorrect) perceived model and the equilibrium. I assume that the model is designed by a self-interested economist who knows the true structural model, but reports a distorted one so as to influence outcomes....
Persistent link: https://www.econbiz.de/10013120285
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Robust Comparative Statics in Large Dynamic Economies
Acemoglu, Daron - 2012
We consider infinite horizon economies populated by a continuum of agents who are subject to idiosyncratic shocks. This framework contains models of saving and capital accumulation with incomplete markets in the spirit of works by Bewley, Aiyagari, and Huggett, and models of entry, exit and...
Persistent link: https://www.econbiz.de/10013104728
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Ricardo's Theory of Comparative Advantage : Old Idea, New Evidence
Costinot, Arnaud - 2012
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 correct, not that it is empirically valid. The goal of this paper is to … output predicted by Ricardo's theory of comparative advantage. Despite all of the real-world considerations from which this …
Persistent link: https://www.econbiz.de/10013107916
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A Conceptual Framework for Interpreting Recorded Human History
North, Douglass C. - 2007
must be a fundamental part of the development process. This paper develops an integrated theory of economics and politics …
Persistent link: https://www.econbiz.de/10012778079
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Modern Macroeconomics in Practice : How Theory is Shaping Policy
Chari, Varadarajan V. - 2010
policy changes that are precisely what macroeconomic theory of the last 30 years suggests. The three key developments that …
Persistent link: https://www.econbiz.de/10012760693
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The State of Macro
Blanchard, Olivier J. - 2008
For a long while after the explosion of macroeconomics in the 1970s, the field looked like a battlefield. Over time however, largely because facts do not go away, a largely shared vision both of fluctuations and of methodology has emerged. Not everything is fine. Like all revolutions, this one...
Persistent link: https://www.econbiz.de/10012770587
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Theory and Measurement : Emergence, Consolidation and Erosion of a Consensus
Biddle, Jeff - 2016
abandonment of economic theory in applied work in the “experimentalist paradigm.” We document the changes implied by the changing …-55, 1974-75 and 2007-08. We also show that, despite the partial abandonment of theory by applied microeconomists, the labor …
Persistent link: https://www.econbiz.de/10012992138
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An Economic Theory of Self-Control
Shefrin, Hersh; Thaler, Richard H. - 2021
us to draw on the theory of agency. We thus relate the individual's control problems with those that exist in agency …
Persistent link: https://www.econbiz.de/10013217958
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Computational Economics and Economic Theory : Substitutes or Complements
Judd, Kenneth L. - 2021
This essay examines the idea and potential of a computational approach to theory,' discusses methodological issues … and the exposition of computational results. We argue that the study of a theory need not be confined to proving theorems …
Persistent link: https://www.econbiz.de/10013217963
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The Political Economy of Hatred
Glaeser, Edward L. - 2021
What determines the intensity and objects of hatred? Hatred forms when people believe that out-groups are responsible for past and future crimes, but the reality of past crimes has little to do with the level of hatred. Instead, hatred is the result of an equilibrium where politicians supply...
Persistent link: https://www.econbiz.de/10013218402