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phenomenon of pluralism is only rudimentarily developed and the discourse between the different approaches is proceeding as … methodological pluralism in modern economics. …
Persistent link: https://www.econbiz.de/10010980571
case for pluralism and the case against requiring macroeconomic theory to be expressed in terms of its microfoundations …
Persistent link: https://www.econbiz.de/10010796237
economic and financial crisis. These flaws are deeply rooted in neoclassical economics, so much so as the lack of pluralism …
Persistent link: https://www.econbiz.de/10010669835
This paper outlines a curriculum reform of economics at the undergraduate level in Western universities centred around eight main themes and which follows a pluralistic, interdisciplinary approach. The aim is to liberate teaching from the stultifying grips of neoclassical economics and its...
Persistent link: https://www.econbiz.de/10010669839
The introductory course poses a particular problem for a pluralist approach. The mainstream has assumed that its paradigm constitutes the whole of what is worthwhile communicating to first year students. Thus a substantial portion of the available teaching time has been pre-allocated. The...
Persistent link: https://www.econbiz.de/10010669846
market that stresses the need for pluralism in economics. Following the arguments of the theory of money emissions, we …
Persistent link: https://www.econbiz.de/10010669859
The financial and economic crisis that has been devastating a number of countries in the world since its outbreak in 2007-2008 originates in the currently still dominant paradigm in both finance and economics. The contributions selected for this special issue explain collectively that the only...
Persistent link: https://www.econbiz.de/10010669869
Modern DSGE models are microfounded and have deep parameters that should be invariant to changes in economic policy, so … issues also cause parameter instability after policy changes in DSGE models. This paper will look at the implications of … parameter shifts for econometric policy evaluation, to see whether policy advice derived from DSGE models would have differed …
Persistent link: https://www.econbiz.de/10010862249
Abstract Starting from some of the most recent literature developed after the world financial crisis, it has been developed a model with heterogeneous agents and an active interbank market, characterized by an endogenous default probability. The key feature of the analysis is that the...
Persistent link: https://www.econbiz.de/10011156994
Modern DSGE models are microfounded and have deep parameters that should be invariant to changes in economic policy, so … issues also cause parameter instability after policy changes in DSGE models. This paper will look at the implications of … parameter shifts for econometric policy evaluation, to see whether policy advice derived from DSGE models would have differed …
Persistent link: https://www.econbiz.de/10011077128