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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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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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Economic Imperialism
Lazear, Edward P. - 2000
theory. Finally, a focus on efficiency leads economists to ask questions that other social sciences ignore. These ingredients …
Persistent link: https://www.econbiz.de/10014174221
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The New Comparative Economics
Djankov, Simeon; Glaeser, Edward L.; Lopez de Silanes, … - 2003
In recent years, comparative economics experienced a revival, with a new focus on comparing capitalist economies. The theme of the new research is that institutions exert a profound influence on economic development. We argue that, to understand capitalist institutions, one needs to understand...
Persistent link: https://www.econbiz.de/10014087197
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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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Theory, General Equilibrium and Political Economy in Development Economics
Acemoglu, Daron - 2010
I discuss the role of economic theory in empirical work in development economics with special emphasis on general … equilibrium and political economy considerations. I argue that economic theory plays (should play) a central role in formulating …
Persistent link: https://www.econbiz.de/10013144167