What is Post Keynesianism and Who Is A Post Keynedsian?
... he meant to write that some [wide-tent] Post Keynesians “had - probably mistakenly – been attracted to them [New Keynesian theories]”. But it is not surprising that those wide tent occupants such as followers of Kalecki, whose theory emphasizes monopoly elements, would be attracted to the New Keynes ...
... he meant to write that some [wide-tent] Post Keynesians “had - probably mistakenly – been attracted to them [New Keynesian theories]”. But it is not surprising that those wide tent occupants such as followers of Kalecki, whose theory emphasizes monopoly elements, would be attracted to the New Keynes ...
- Munich Personal RePEc Archive
... destroys the opportunities for others and as known, trade among nations is not a game "without result". 3. If competitiveness has any meaning, then it is just another way to describe productivity. The development of a national standard of living is determined primarily by the rate of productivity gr ...
... destroys the opportunities for others and as known, trade among nations is not a game "without result". 3. If competitiveness has any meaning, then it is just another way to describe productivity. The development of a national standard of living is determined primarily by the rate of productivity gr ...
The Oomph in economic philosophy: a bibliometric analysis of the
... Klamer, Mäki, Hoover, Hausman, Caldwell, Hands, and Davis and Group C McCloskey, Lawson, Klamer, and Mäki. Needless to say, grouping scholars into only two groups despite the wide variety of debates and the richness of their different positions in economic philosophy may appear somewhat simplistic a ...
... Klamer, Mäki, Hoover, Hausman, Caldwell, Hands, and Davis and Group C McCloskey, Lawson, Klamer, and Mäki. Needless to say, grouping scholars into only two groups despite the wide variety of debates and the richness of their different positions in economic philosophy may appear somewhat simplistic a ...
Download Full Article
... where (I - A)-1 is the “Leontief Inverse Matrix” or called “Inter-industry Interdependence Coefficient Matrix” The use of this model for estimation of the economic impacts of tourism has become increasingly popular because of its ability to provide accurate and detailed information. (Loomis, 1997) c ...
... where (I - A)-1 is the “Leontief Inverse Matrix” or called “Inter-industry Interdependence Coefficient Matrix” The use of this model for estimation of the economic impacts of tourism has become increasingly popular because of its ability to provide accurate and detailed information. (Loomis, 1997) c ...
Growth modeling: a comparative analysis of main frameworks with
... importance of demography in economic analysis. In his main paper, he reached a conclusion that when left uncontrolled, population would increase geometrically, while the food supply only arithmetically (Malthus 1798:6). Therefore, living standards could only improve in the short term: any increments ...
... importance of demography in economic analysis. In his main paper, he reached a conclusion that when left uncontrolled, population would increase geometrically, while the food supply only arithmetically (Malthus 1798:6). Therefore, living standards could only improve in the short term: any increments ...
MARX, CLASSICAL POLITICAL ECONOMY AND THE PROBLEM
... that of the relations between already existing economic givens : for example, in the determination of the level of price given the curves for supply and demand, or the determination of the supply curve, given quantities and prices . In the light of this H .L . Moore, quite correctly, characterised M ...
... that of the relations between already existing economic givens : for example, in the determination of the level of price given the curves for supply and demand, or the determination of the supply curve, given quantities and prices . In the light of this H .L . Moore, quite correctly, characterised M ...
A Graph-Theoretic Analysis of Information Value Department of
... ative value of information of these nodes with respect to any decision node, so long as the chance nodes are not descendants of the decision node. The requirement that chance nodes not be descendants of decision nodes is addressed by forcing influence dia grams to be formulated (or reformulate d ) ...
... ative value of information of these nodes with respect to any decision node, so long as the chance nodes are not descendants of the decision node. The requirement that chance nodes not be descendants of decision nodes is addressed by forcing influence dia grams to be formulated (or reformulate d ) ...
Simulation of Long-Term Stock Returns: Fat
... intuitively that mean reversion is probable – and a significant ...
... intuitively that mean reversion is probable – and a significant ...
On The Magnification Of Derived Demand
... {x ∈ Rn | there exists y ∈ A with x − y < } where A = ∅, A ⊆ Rn , and > 0. For every two nonempty subsets E and F of Rn , define the (extended) Hausdorff distance δ(E, F ) by δ(E, F ) = inf{ ∈ (0, ∞] | E ⊆ B (F ) and F ⊆ B (E)}. [Say that an extended distance function, extended semimetric, o ...
... {x ∈ Rn | there exists y ∈ A with x − y < } where A = ∅, A ⊆ Rn , and > 0. For every two nonempty subsets E and F of Rn , define the (extended) Hausdorff distance δ(E, F ) by δ(E, F ) = inf{ ∈ (0, ∞] | E ⊆ B (F ) and F ⊆ B (E)}. [Say that an extended distance function, extended semimetric, o ...
Lecture 1
... economy’s behavior depends partly on whether prices are sticky or flexible: If prices are sticky, then demand won’t always equal supply. This helps explain • unemployment (excess supply of labor) • why firms cannot always sell all the goods ...
... economy’s behavior depends partly on whether prices are sticky or flexible: If prices are sticky, then demand won’t always equal supply. This helps explain • unemployment (excess supply of labor) • why firms cannot always sell all the goods ...
Properties of Ideal-Point Estimators
... authors have studied the properties of the unrestricted maximum likelihood estimator. For a Rasch model applied to k items with n test-takers, Andersen (1973) establishes inconsistency as n → ∞ for fixed k and an approximation to the bias. Haberman (1977) establishes consistency as k, n → ∞ provided ...
... authors have studied the properties of the unrestricted maximum likelihood estimator. For a Rasch model applied to k items with n test-takers, Andersen (1973) establishes inconsistency as n → ∞ for fixed k and an approximation to the bias. Haberman (1977) establishes consistency as k, n → ∞ provided ...
Document
... circumstances are no longer relevant. The theory of intellectual path dependence brings into economics a fresh perspective as the theory tells us why the processes in which social and intellectual institutions go through evolutionary change do not always give rise to desirable and intended conseque ...
... circumstances are no longer relevant. The theory of intellectual path dependence brings into economics a fresh perspective as the theory tells us why the processes in which social and intellectual institutions go through evolutionary change do not always give rise to desirable and intended conseque ...
Econometric Causality
... the relevant causal questions. Many “causal models” in statistics are incomplete guides to interpreting data or for suggesting answers to particular policy questions. They are motivated by the experiment as an ideal. They do not clearly specify the mechanisms determining how hypothetical counterfac ...
... the relevant causal questions. Many “causal models” in statistics are incomplete guides to interpreting data or for suggesting answers to particular policy questions. They are motivated by the experiment as an ideal. They do not clearly specify the mechanisms determining how hypothetical counterfac ...
Conversation or Monologue? On Advising Heterodox Economists
... about methodology and paradigmatic divisions implies an acceptance of the status quo, and the neutrality of science, preserving the worst of the mainstream. Not surprisingly heterodox economists spend a lot of time making methodological points that are not necessarily novel to “long-in-tooth” econom ...
... about methodology and paradigmatic divisions implies an acceptance of the status quo, and the neutrality of science, preserving the worst of the mainstream. Not surprisingly heterodox economists spend a lot of time making methodological points that are not necessarily novel to “long-in-tooth” econom ...
Motives behind willingness to pay for improving
... individual and their psychological, social and institutional environments. The CVM study reported here introduces factors from social psychology to test the standard economic model of human behaviour, while also addressing ethical motives which have been neglected by both economists and social psych ...
... individual and their psychological, social and institutional environments. The CVM study reported here introduces factors from social psychology to test the standard economic model of human behaviour, while also addressing ethical motives which have been neglected by both economists and social psych ...
“Splendid Isolation” as Trade Policy
... of TTIP do not take account of sequential economic effects going beyond the bilateral gains for the U.S. and the EU. Yet such benefits are clearly perceived – and behind the favourable view on TTIP taken by quite many observers. The sequential benefits are premised on the capacity of TTIP to change ...
... of TTIP do not take account of sequential economic effects going beyond the bilateral gains for the U.S. and the EU. Yet such benefits are clearly perceived – and behind the favourable view on TTIP taken by quite many observers. The sequential benefits are premised on the capacity of TTIP to change ...
Market and Underground Activities in a Two
... to shift resources out of market activity in response to productivity and policy disturbances than in models without such sector. Intuitively, in an underground model, although these shocks may not affect total hours worked, they may affect how hours are allocated between the market and underground ...
... to shift resources out of market activity in response to productivity and policy disturbances than in models without such sector. Intuitively, in an underground model, although these shocks may not affect total hours worked, they may affect how hours are allocated between the market and underground ...
Disturbances to the International Economy Lawrence R. Klein
... States are protectionist measures that have recently been introduced. Voluntary quotas imposed on exporters of shoes, textiles, and TV sets are another version of protectionism. Enforcement of anti-dumping laws are yet another. A more straight-forward form would be an increase in tariffs. The move t ...
... States are protectionist measures that have recently been introduced. Voluntary quotas imposed on exporters of shoes, textiles, and TV sets are another version of protectionism. Enforcement of anti-dumping laws are yet another. A more straight-forward form would be an increase in tariffs. The move t ...
Reconciling the invisible hand and innovation
... promote the public interest. This concept –that the rough-and -tumble of market competition– is a potent force for raising output and living standards– is one of the most profound and powerful ideas in history. (Samuelson and Nordhaus 1998, 265) Clearly, the way Samuelson and Nordhaus paraphrase Sm ...
... promote the public interest. This concept –that the rough-and -tumble of market competition– is a potent force for raising output and living standards– is one of the most profound and powerful ideas in history. (Samuelson and Nordhaus 1998, 265) Clearly, the way Samuelson and Nordhaus paraphrase Sm ...
East Asia vs. Latin America: TFP and Human Capital Policies
... cess education puzzle” for Latin America: significant increases in schooling have not resulted in substantial increases in output. To further understand the role of resource allocation (across individuals and levels of schooling), we modify the model along two dimensions: we allow for heterogeneity ...
... cess education puzzle” for Latin America: significant increases in schooling have not resulted in substantial increases in output. To further understand the role of resource allocation (across individuals and levels of schooling), we modify the model along two dimensions: we allow for heterogeneity ...
1 virtual economics: applying economics to the study of
... social psychology. For example, rational choice theory and cost-benefit analysis are being used to study human relationships. This perspective is called the social exchange theory. The validity of the results again depends on whether the context actually matches with the premises of the theory. The ...
... social psychology. For example, rational choice theory and cost-benefit analysis are being used to study human relationships. This perspective is called the social exchange theory. The validity of the results again depends on whether the context actually matches with the premises of the theory. The ...
CONSUMER BEHAVIOR YWCA, Lecture 6
... Consumer behavior is the study of consumers through finding out answers to the questions like >What they buy? >How they buy? >Where and when do they buy? >In how much quantity they buy? The answers to these depend on the consumer’s perception, self concept, social and cultural background, age, attit ...
... Consumer behavior is the study of consumers through finding out answers to the questions like >What they buy? >How they buy? >Where and when do they buy? >In how much quantity they buy? The answers to these depend on the consumer’s perception, self concept, social and cultural background, age, attit ...
Final Report - European Commission
... Finally, there are a number of issues relating to the technical structure or functional form of existing models which could be improved upon, particularly the treatments of technology, uncertainty and non-linear relationships. ...
... Finally, there are a number of issues relating to the technical structure or functional form of existing models which could be improved upon, particularly the treatments of technology, uncertainty and non-linear relationships. ...
Fairly Good Plans
... Economists working in many different areas have their own version of the problem here illustrated in the case of optimum growth theory. For example, the econometrician wants to know whether he should make a large effort to obtain a precise estimate of a parameter about which he already has some info ...
... Economists working in many different areas have their own version of the problem here illustrated in the case of optimum growth theory. For example, the econometrician wants to know whether he should make a large effort to obtain a precise estimate of a parameter about which he already has some info ...
Slides - ncbaeryk
... Economists use models to study economic issues. A model is a highly simplified representation of a more complicated reality. CHAPTER 2 ...
... Economists use models to study economic issues. A model is a highly simplified representation of a more complicated reality. CHAPTER 2 ...
Economic model
In economics, a model is a theoretical construct representing economic processes by a set of variables and a set of logical and/or quantitative relationships between them. The economic model is a simplified framework designed to illustrate complex processes, often but not always using mathematical techniques. Frequently, economic models posit structural parameters. Structural parameters are underlying parameters in a model or class of models. A model may have various parameters and those parameters may change to create various properties. Methodological uses of models include investigation, theorizing, and fitting theories to the world.