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In spite of the widespread use of the concept of potential output in economic theory and empirical applications as well …
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view, economic theory may be useful not only by providing predictions, but also by pointing out weaknesses of arguments. It … is argued that, when a theory requires a non-trivial act of interpretation, it's roles in producing predictions and …
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view, economic theory may be useful not only by providing predictions, but also by pointing out weaknesses of arguments. It … is argued that, when a theory requires a non-trivial act of interpretation, its roles in producing predictions and …
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Top scholars synthesize and analyze scholarship on this widely used tool of policy analysis in 27 articles, setting forth its accomplishments, difficulties, and means of implementation. Though CGE modeling does not play a prominent role in top U.S. graduate schools, it is employed universally in...
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