Lecture 5: Firm-level misallocation: benchmark model and early results
27 Oct 2021 Leave a comment
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How intangible capital may explain rising labour productivity during recessions
26 Oct 2021 Leave a comment
in applied price theory, business cycles, economic growth, economic history, Edward Prescott, entrepreneurship, financial economics, global financial crisis (GFC), great recession, macroeconomics, monetary economics
“The sharp drop in intangible investment contributes to a decline in actual economic output greater than that measured by official government GDP accounts. This implies that in the actual U.S. economy, true labor productivity declined significantly during the recent recession—a finding consistent with established aggregate theory based on the neoclassical model of economic growth. Thus, McGrattan and Prescott’s experiment solves the labor productivity puzzle by reconciling the apparent mismatch between theory and economic data that show labor productivity bucking the GDP trend. “The addition of intangible capital and non- neutral technology to the model was crucial in accounting for high productivity and low GDP during the period,” they write.”
From https://www.minneapolisfed.org/article/2012/unmeasured-investment
How the Labor Market Adjusts to Technological Shocks (Lessons from Hoover Boot Camp) | Ch 3
26 Oct 2021 Leave a comment
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Daron Acemoglu on How Inequality Weakens Nations
26 Oct 2021 Leave a comment
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Lee Ohanian on Sweden’s Experiment with Socialism
26 Oct 2021 Leave a comment
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Entrepreneurship
21 Oct 2021 Leave a comment
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Creative destruction
18 Oct 2021 Leave a comment
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The Fractured-Land Hypothesis
17 Oct 2021 Leave a comment
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Human Capital, Development, and Growth
16 Oct 2021 Leave a comment
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Peter J. Boettke — “Regulation and Entrepreneurship”
15 Oct 2021 Leave a comment
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News-driven business cycle theory is promising
13 Oct 2021 Leave a comment
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The tight Detroit automaker oligopoly had wildly unstable market shares and investment strategies
13 Oct 2021 Leave a comment
in applied price theory, Austrian economics, economic history, entrepreneurship, industrial organisation, law and economics, managerial economics, organisational economics, politics - USA, survivor principle, theory of the firm, transport economics Tags: antitrust economics, competition law, creative destruction
Essential Nozick: Income inequality and the role of choice
13 Oct 2021 Leave a comment
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Utopia, you are standing in it! 
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