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In the early 1980s, rational expectations and new classical economics dominated macroeconomic theory. This essay evolved from the authors' profound disagreement with that trend. It demonstrates not only how the new classical view got macroeconomics wrong, but also how to go about doing...
Persistent link: https://www.econbiz.de/10004973076
This paper explores the responses of fertility and nuptiality to fluctuations in real wages and mortality that can be inferred from annual series of English historical data over the period 1542 to 1800. The paper begins with a review of the time series properties of the data and summarizes the...
Persistent link: https://www.econbiz.de/10005395946
Persistent link: https://www.econbiz.de/10005411731
We examine the health and height of men born in England and Wales in the 1890s who enlisted in the army at the time of the First World War. We take a sample of the army service records and use this information to find the recruits as children in the 1901 census. Econometric results indicate that...
Persistent link: https://www.econbiz.de/10011107097
We examine the health and height of men born in England and Wales in the 1890s who enlisted in the army at the time of the First World War. We take a sample of the army service records and use this information to find the recruits as children in the 1901 census. Econometric results indicate that...
Persistent link: https://www.econbiz.de/10010959694
Persistent link: https://www.econbiz.de/10005665568
Migrants are sometimes regarded as marginal workers in metropolitan labour markets. London has long been a major destination for migrants from elsewhere in Britain and abroad. In this paper we examine the earnings and unemployment experience in 1929-1931 of male workers who migrated to London,...
Persistent link: https://www.econbiz.de/10005622393
Persistent link: https://www.econbiz.de/10010714506
Patinkin's contribution to monetary theory is discussed with particular attention given to his 'dichotomy argument'. It is shown that he is perfectly correct, but there is a confusion in the literature between the 'neutrality proposition' and the independence of equilibrium of the quantity of...
Persistent link: https://www.econbiz.de/10005505381
This paper conjectures that, in the future, economists will rely more on computer simulation and less on analytical methods. Copyright 1991 by Royal Economic Society.
Persistent link: https://www.econbiz.de/10005392794