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The Macroeconomist as Scientist and Engineer
Mankiw, N. Gregory - 2006
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%u2014 those who understand the field as a type of...
Persistent link: https://www.econbiz.de/10012779829
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Marshall'S Economies
Henderson, J. Vernon - 2021
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/10013248099
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The Incubator of Human Capital : The NBER and the Rise of the Human Capital Paradigm
Goldin, Claudia; Katz, Lawrence F. - 2022
human capital theory brought the NBER into the modern era of economics …The human capital construct is deep in the bones of economics and finds reference by many classical economists, even if … they did not use the phrase. The term “human capital,” seldom mentioned in economics before the 1950s, increased starting …
Persistent link: https://www.econbiz.de/10014100574
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The Contribution of a Monetary History of the United States : 1867 to 1960 to Monetary History
Bordo, Michael D. - 2021
This paper assesses the role of Friedman and Schwartz's "A Monetary History of the United Slates: 1867 to 1960" as a progenitor of research in monetary history. The paper critically surveys the literature on three major themes in the book: monetary disturbances; the domestic monetary framework...
Persistent link: https://www.econbiz.de/10013310581
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The Political Economy of Ideas : On Ideas Versus Interests in Policymaking
Mukand, Sharun - 2018
We develop a conceptual framework to highlight the role of ideas as a catalyst for policy and institutional change. We make an explicit distinction between ideas and vested interests and show how they feed into each other. In doing so the paper integrates the Keynes-Hayek perspective on the...
Persistent link: https://www.econbiz.de/10012922972
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Depression for Economists
de Quidt, Jonathan - 2016
attention in the economics literature. In this paper, we present a simple model which predicts the core symptoms of depression …
Persistent link: https://www.econbiz.de/10012976995
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Keynes and the Dollar in 1933
Edwards, Sebastian - 2017
On December 1933, John Maynard Keyes published an open letter to President Roosevelt, where he wrote: “The recent gyrations of the dollar have looked to me more like a gold standard on the booze than the ideal managed currency of my dreams.” In this paper I use high frequency data to...
Persistent link: https://www.econbiz.de/10012963186
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Instrumental Variables Estimation of Heteroskedastic Linear Models Using All Lags of Instruments
West, Kenneth D. - 2007
We propose and evaluate a technique for instrumental variables estimation of linear models with conditional heteroskedasticity. The technique uses approximating parametric models for the projection of right hand side variables onto the instrument space, and for conditional heteroskedasticity and...
Persistent link: https://www.econbiz.de/10012776859
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The Phillips Curve Now and then
Gordon, Robert J. - 2011
This paper describes the development of the "triangle" model of inflation, which holds that the rate of inflation depends on inertia, demand. and supply. This model differs from most other versions of the Phillips curve by relating inflation directly to the level and rate of change of detrended...
Persistent link: https://www.econbiz.de/10013127297
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Instrumental Variables Estimation of Heteroskedastic Linear Models Using All Lags of Instruments
West, Kenneth D. - 2012
We propose and evaluate a technique for instrumental variables estimation of linear models with conditional heteroskedasticity. The technique uses approximating parametric models for the projection of right hand side variables onto the instrument space, and for conditional heteroskedasticity and...
Persistent link: https://www.econbiz.de/10013106202