What Was the Industrial Revolution?
27 Oct 2021 Leave a comment
in development economics, economic growth, economic history, economics of education, financial economics, growth disasters, growth miracles, history of economic thought, human capital, industrial organisation, labour economics, labour supply, macroeconomics, occupational choice, property rights, Robert E. Lucas Tags: Great Enrichment, industrial revolution
Finn E. Kydland’s (Nobel Laureate) Speech at the WHU – New Year’s Conference 17
27 Oct 2021 Leave a comment
in budget deficits, business cycles, development economics, econometerics, economic growth, economic history, economics of regulation, entrepreneurship, fiscal policy, global financial crisis (GFC), great recession, growth disasters, growth miracles, human capital, labour economics, labour supply, macroeconomics, monetary economics, poverty and inequality, Robert E. Lucas Tags: real business cycles
Lecture 5: Firm-level misallocation: benchmark model and early results
27 Oct 2021 Leave a comment
in applied price theory, applied welfare economics, comparative institutional analysis, development economics, economic growth, economic history, entrepreneurship, growth disasters, growth miracles, human capital, industrial organisation, labour economics, labour supply, macroeconomics, occupational choice, survivor principle
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
in applied price theory, economic growth, economic history, economics of education, economics of regulation, entrepreneurship, health and safety, history of economic thought, human capital, industrial organisation, labour economics, labour supply, market efficiency, minimum wage, occupational choice, occupational regulation, personnel economics, poverty and inequality, survivor principle, unemployment
Daron Acemoglu on How Inequality Weakens Nations
26 Oct 2021 Leave a comment
in applied price theory, constitutional political economy, development economics, economic growth, economic history, economics of bureaucracy, economics of education, economics of regulation, entrepreneurship, financial economics, growth disasters, growth miracles, history of economic thought, human capital, income redistribution, industrial organisation, labour economics, labour supply, law and economics, macroeconomics, poverty and inequality, property rights, Public Choice, rentseeking, survivor principle
Prescott on booms and busts
25 Oct 2021 Leave a comment
in budget deficits, business cycles, economic growth, history of economic thought, macroeconomics, monetarism, monetary economics
From Five Macroeconomic Myths, By Edward Prescott, The Wall Street Journal, December 11, 2006 https://www.minneapolisfed.org/~/media/files/research/prescott/wsj/wsj_12-11-06_five_macroeconomic_myths.pdf?la=en via https://www.minneapolisfed.org/research/prescott/wsj
Ricardo Versus Thornton on the Appropriate Monetary Response to Supply Shocks
23 Oct 2021 Leave a comment
in business cycles, economic growth, history of economic thought, macroeconomics, monetary economics Tags: monetary policy, real business cycles
The Macroeconomic Consequences of Infrastructure Investment
22 Oct 2021 Leave a comment
in applied price theory, budget deficits, business cycles, econometerics, economic growth, fiscal policy, labour economics, labour supply, macroeconomics, monetary economics, unemployment Tags: multiplier
Lecture 1: Empirical overview of macro development
22 Oct 2021 Leave a comment
in applied price theory, applied welfare economics, comparative institutional analysis, development economics, econometerics, economic growth, economic history, Edward Prescott, growth disasters, growth miracles, history of economic thought, industrial organisation, labour economics, labour supply, law and economics, macroeconomics, property rights, Robert E. Lucas
Hayek Lecture 2011: Robert Barro on ‘Fiscal-Stimulus Packages’
18 Oct 2021 Leave a comment
in applied price theory, Austrian economics, budget deficits, business cycles, econometerics, economic growth, economic history, economics of bureaucracy, Euro crisis, F.A. Hayek, fiscal policy, global financial crisis (GFC), great depression, great recession, history of economic thought, inflation targeting, job search and matching, labour economics, labour supply, macroeconomics, monetarism, monetary economics, Public Choice, unemployment
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