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Ricardo's Theory of Comparative Advantage : Old Idea, New Evidence

Costinot, Arnaud - 2012

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/10013107916

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 …

Persistent link: https://www.econbiz.de/10014087197

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

A Conceptual Framework for Interpreting Recorded Human History

North, Douglass C. - 2007

Neither economics nor political science can explain the process of modern social development. The fact that developed … societies always have developed economies and developed polities suggests that the connection between economics and politics … 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

Modern Macroeconomics in Practice : How Theory is Shaping Policy

Chari, Varadarajan V. - 2010

Theoretical advances in macroeconomics made in the last three decades have had a major influence on macroeconomic policy analysis. Moreover, over the last several decades, the United States and other countries have undertaken a variety of policy changes that are precisely what macroeconomic...

Persistent link: https://www.econbiz.de/10012760693

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

Theory and Measurement : Emergence, Consolidation and Erosion of a Consensus

Biddle, Jeff - 2016

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/10012992138

An Economic Theory of Self-Control

Shefrin, Hersh; Thaler, Richard H. - 2021

Although many economists, most notably Strotz, have discussed dynamic inconsistency and precommitment, none have dealt directly with the essence of the problem: self-control. This paper attempts to fill that gap by modeling man as an organization. The Strotz model is recast to include the...

Persistent link: https://www.econbiz.de/10013217958

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 raised by such computational methods, and outlines the problems associated with the dissemination of computational methods and the exposition of computational results. We argue that...

Persistent link: https://www.econbiz.de/10013217963

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

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