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The Austrian Theory of the Marginal Use And of Ordinal Marginal Utility
McCulloch, J. Huston - 1977
The Austrian theory of the "marginal use" is restated and extended. It is found that the Austrian concept of marginal …
Persistent link: https://www.econbiz.de/10012478959
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Some Notes on the Scientific Methods of Simon Kuznets
Fogel, Robert W. - 1987
on his approach to measurement and theory. The paper closes with the transcription of a brief autobiographical talk by …
Persistent link: https://www.econbiz.de/10012476606
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Economic Imperialism
Lazear, Edward P. - 1999
theory. Finally, a focus on efficiency leads economists to ask questions that other social sciences ignore. These ingredients …
Persistent link: https://www.econbiz.de/10012471484
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RBC Methodology and the Development of Aggregate Economic Theory
Prescott, Edward C. - 2016
This essay reviews the development of neoclassical growth theory, a unified theory of aggregate economic phenomena that … was first used to study business cycles and aggregate labor supply. Subsequently, the theory has been used to understand … methodology to address various quantitative questions come up with essentially the same answer--evidence that the theory has a …
Persistent link: https://www.econbiz.de/10012456255
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Capital Gains Taxation in an Economy with an "Austrian Sector"
Kovenock, Daniel J. - 1981
This paper examines the effects of a proportional capital gains tax in an economy with an Austrian sector (with wine and trees) and an ordinary sector. We analyze the effect of capital gains taxation (on both an accrual and a realization basis) on the efficiency with which resources are used...
Persistent link: https://www.econbiz.de/10012478357
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The Economic Approach to Personality, Character and Virtue
Heckman, James J.; Galaty, Bridget; Tian, Haihan - National Bureau of Economic Research - 2023
This chapter presents an economic approach to character and personality traits with an application to the study of virtue. Economists interpret psychological traits, including character traits and virtue, as strategies that shape responses to situations (actions) determined by underlying...
Persistent link: https://www.econbiz.de/10014287358
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DSGE Models for Monetary Policy Analysis
Christiano, Lawrence J. - 2010
Monetary DSGE models are widely used because they fit the data well and they can be used to address important monetary policy questions. We provide a selective review of these developments. Policy analysis with DSGE models requires using data to assign numerical values to model parameters. The...
Persistent link: https://www.econbiz.de/10012462581
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Decomposition Methods in Economics
Fortin, Nicole - 2010
This chapter provides a comprehensive overview of decomposition methods that have been developed since the seminal work of Oaxaca and Blinder in the early 1970s. These methods are used to decompose the difference in a distributional statistic between two groups, or its change over time, into...
Persistent link: https://www.econbiz.de/10012462607
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Instruments of development : Randomization in the tropics, and the search for the elusive keys to economic development
Deaton, Angus S. - 2009
randomized controlled trials (RCTs) to accumulate credible knowledge of what works, without over-reliance on questionable theory …
Persistent link: https://www.econbiz.de/10012463957
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New Keynesian Models : Not Yet Useful for Policy Analysis
Chari, V.V. - 2008
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/10012464338