Tag Archives: Economics

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Guest post by Jeff Mosenkis of Innovations for Poverty Action. First a word from my sponsor – IPA’s kind enough to let me use some time writing these links up almost every week for the last 2.5 years, but there’s no such thing as a free link. If you’d go to www.poverty-action.org/donate and help us make our end-of-year budget I’d appreciate it. And, I’ll draw up a few winners (at random of course) for your choice of a) a tote bag from Ghana (long story), b) a very cheap lunch with some of...

Guest post by Jeff Mosenkis of Innovations for Poverty Action. First a word from my sponsor – IPA’s kind enough to let me use some time writing these links up almost every week for the last 2.5 years, but there’s no such thing as a free link. If you’d go to www.poverty-action.org/donate and help us make our end-of-year budget I’d appreciate it. And, I’ll draw up a few winners (at random of course) for your choice of a) a tote bag from Ghana (long story), b) a very cheap lunch with...

Guest post by Jeff Mosenkis of Innovations for Poverty Action. First a word from my sponsor – IPA’s kind enough to let me use some time writing these links up almost every week for the last 2.5 years, but there’s no such thing as a free link. If you’d go to www.poverty-action.org/donate and help us make our end-of-year budget I’d appreciate it. And, I’ll draw up a few winners (at random of course) for your choice of a) a tote bag from Ghana (long story), b) a very cheap lunch with some of...

Nationalekonom varnar för bostadsbubbla En inte helt obekant ekonom uttalar sig här om situationen på dagens bomarknad. Advertisements

Economic history — a victim of economics imperialism Economic history was one of the first fields to succumb at least partially to so-called economics imperialism, the phenomenon through which the methods and models of economic theory have taken over other social scientific subject fields.  The economic historian’s craft, which probably always tended to err in any case towards retrospective reassurance that things were never as bad as they appeared at the...

A recent paper by Christiano, Eichenbaum and Trabandt (C.E.T.) on Dynamic Stochastic General Equilibrium Models (DSGEs) has generated quite a reaction in the blogosphere … Bradford Delong points out that new Keynesian models were constructed to show that old Keynesian and old Monetarist policy conclusions were relatively robust, and not blown out of the water by rational expectations … The DSGE framework was then constructed so that new Keynesians could talk to RBCites. None...

Robert Lucas — nonsense on stilts In Michel De Vroey’s version of the history of macroeconomics, Robert Lucas’ declaration of the need for macroeconomics to be pursued only within ‘equilibrium discipline’ and declaring equilibrium to exist as a postulate, is hailed as a ‘Copernican revolution.’ Equilibrium is not to be considered something that characterises real economies, but rather ‘a property of the way we look at things.’ De Vroey  — approvingly —...

The Victims of Game Theory Imagine you and someone you do not know can share $100. It is up to you to propose how to divide the $100 between the two of you, and the other player will need to accept or reject your proposal. If he rejects the proposal, neither of you will receive anything. What sum will you offer the other player? I have data on the choices of about 12,300 people, most of them students, who were asked this question. Nearly half of the...

Trumped-up trickle-down tax cuts Who would have thought that Lafferian supply-side economics and ‘trickle-down’ horseshit would be resurrected? Yours truly, for one, thought we had buried those zombies for good. Trump and the GOP thought otherwise and have now decided to give wealthy business owners and corporate shareholders an early Christmas gift this year … Advertisements