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Sufficient Statistics for Welfare Analysis : A Bridge between Structural and Reduced-Form Methods
Chetty, Raj - 2008
The debate between quot;structuralquot; and quot;reduced-formquot; approaches has generated substantial controversy in applied economics. This article reviews a recent literature in public economics that combines the advantages of reduced-form strategies -- transparent and credible...
Persistent link: https://www.econbiz.de/10012769875
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Economics of Research and Innovation in Agriculture
Moser, Petra - 2021
Feeding the world’s growing population is one of the most critical policy challenges for the 21st century. With tightening constraints on water, arable land, and other natural resources, agricultural innovation is quickly becoming the most promising path meet the nutrient needs for future...
Persistent link: https://www.econbiz.de/10013309902
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The Positive Economics of Methodology
Landsburg, Steve - 2007
Does an observation constitute stronger evidence for a theory if it was made after rather than before the theory was … formulated, when it may have influenced the theory's construction? Philosophers have discussed this question (of quot … and then constructs a theory) versus structural models with formal econometric tests (where a model is constructed before …
Persistent link: https://www.econbiz.de/10012776741
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Instruments of Development : Randomization in the Tropics, and the Search for the Elusive Keys to Economic Development
Deaton, Angus - 2010
randomized controlled trials (RCTs) to accumulate credible knowledge of what works, without over-reliance on questionable theory …
Persistent link: https://www.econbiz.de/10012757925
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New Keynesian Models : Not Yet Useful for Policy Analysis
Chari, Varadarajan V. - 2010
Macroeconomists have largely converged on method, model design, reduced-form shocks, and principles of policy advice. Our main disagreements today are about implementing the methodology. Some think New Keynesian models are ready to be used for quarter-to-quarter quantitative policy advice; we do...
Persistent link: https://www.econbiz.de/10012758420
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Will Monetary Policy Become More of a Science?
Mishkin, Frederic S. - 2010
This paper reviews the progress that the science of monetary policy has made over recent decades. This progress has significantly expanded the degree to which the practice of monetary policy reflects the application of a core set of quot;scientific principlesquot;. However, there remains, and...
Persistent link: https://www.econbiz.de/10012759738
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Methodological Frontiers of Public Finance Field Experiments
Kling, Jeffrey R. - 2010
The purpose of this article is to demonstrate how a rich array of methods can be applied to increase the relevance of field experiments in public economics. Two cross-cutting themes are important in multiple phases of the research. First, greater statistical sophistication can draw more value...
Persistent link: https://www.econbiz.de/10012760378
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Modeling the Long Run : Valuation in Dynamic Stochastic Economies
Hansen, Lars Peter - 2008
I explore the equilibrium value implications of economic models that incorporate reactions to a stochastic environment. I propose a dynamic value decomposition (DVD) designed to distinguish components of an underlying economic model that influence values over long horizons from components that...
Persistent link: https://www.econbiz.de/10012770669
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Methods of Identification in Social Networks
Graham, Bryan S. - 2014
Social and economic networks are ubiquitous, serving as contexts for job search, technology diffusion, the accumulation of human capital and even the formulation of norms and values. The systematic empirical study of network formation - the process by which agents form, maintain and dissolve...
Persistent link: https://www.econbiz.de/10013048060
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A Critical Assessment of the Role of Imperfect Competition in Macroeconomics
Carlton, Dennis W. - 2021
explaining short-run fluctuations in GNP. Theory and the empirical evidence suggest that the existence of intellectual property …
Persistent link: https://www.econbiz.de/10013232435