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An essay on the history of DSGE models [PDF]

arXiv
Dynamic Stochastic General Equilibrium (DSGE) models are nowadays a crucial quantitative tool for policy-makers. However, they did not emerge spontaneously. They are built upon previously established ideas in Economics and relatively recent advancements in Mathematics.
arxiv  

Trade and the environment, trade policies and environmental policies—How do they interact?

Journal of Economic Surveys, EarlyView.
Abstract While international trade can offer gains from specialization and access to a wider range of products, it is also closely interlinked with global environmental problems, above all, anthropogenic climate change. This survey provides a structured overview of the economic literature on the interaction between environmental outcomes, trade ...
Gabriel Felbermayr, Sonja Peterson, Joschka Wanner   +2 more
wiley   +1 more source

Conventional wisdom, meta‐analysis, and research revision in economics

Journal of Economic Surveys, EarlyView.
Abstract Over the past several decades, meta‐analysis has emerged as a widely accepted tool to understand economics research. Meta‐analyses often challenge the established conventional wisdom of their respective fields. We systematically review a wide range of influential meta‐analyses in economics and compare them to “conventional wisdom.” After ...
Sebastian Gechert, Bianka Mey, Matej Opatrny, Tomas Havranek, T. D. Stanley, Pedro R. D. Bom, Hristos Doucouliagos, Philipp Heimberger, Zuzana Irsova, Heiko J. Rachinger   +9 more
wiley   +1 more source

The effect of bubbles on production: The state of the literature

Journal of Economic Surveys, EarlyView.
Abstract In this paper, a comprehensive review is carried out on the strand of the literature related to the effects of bubbles on production, which includes the scarce empirical literature. The content is structured according to the bubble phase, since a major part of the literature considers that during the boom, there can be a crowding‐in effect ...
Cristhian Fernández‐González, Luis A. Hierro, Helena Domínguez‐Torres   +2 more
wiley   +1 more source

Preference changes and index number theory

Journal of Economic Surveys, EarlyView.
Abstract The economic approach to the cost of living index assumes that consumer preferences remain constant over time. This assumption poses little risk in calculating a short‐run intertemporal bilateral price index. The assumption, however, breaks down in the case of a fixed‐based time series index spanning a long period and in the context of ...
Thu Huyen Le, Kam Yu
wiley   +1 more source

Beyond fads and magic bullets: The promise of behavioral approaches in development economics

Journal of Economic Surveys, EarlyView.
Abstract The history of development economics has been portrayed as a succession of fads and magic bullets. This study inquires whether behavioral approaches to economic development are destined to become such a fad or whether they have long‐lasting contributions to offer.
Svenja Flechtner
wiley   +1 more source

Reformulating the Critique of Human Capital Theory

Journal of Economic Surveys, EarlyView.
ABSTRACT Despite criticism, human capital theory (HCT) has remained central for six decades to the teaching and practice of economics. This paper reformulates the critique of HCT, focusing on two aspects that are typically relegated to the margin.
Paul Auerbach, Francis Green
wiley   +1 more source

Robots vs. Workers: Evidence From a Meta‐Analysis

Journal of Economic Surveys, EarlyView.
ABSTRACT This study conducts a meta‐analysis to assess the effects of robotization on employment and wages, synthesizing the evidence from 33 studies (644 estimates) on employment and a subset of 19 studies (195 estimates) on wages. The results challenge the alarmist narrative about the risk of widespread technological unemployment, suggesting that the
Dario Guarascio, Alessandro Piccirillo, Jelena Reljic   +2 more
wiley   +1 more source

Regional Dependencies and Local Spillovers: Insights From Commuter Flows

Journal of Regional Science, EarlyView.
ABSTRACT A region's growth trajectory is influenced by the economic circumstances of other regions in its proximity. While proximity is often understood in a geographic sense, economic connectivity can take many different forms. In particular, shock transmission processes between regions are inherently asymmetric and heterogeneous, which is not ...
Melanie Krause, Sebastian Kripfganz
wiley   +1 more source

The Mafia's Economic Grip: Firm Efficiency and a Composite Indicator of Organized Crime

Journal of Regional Science, EarlyView.
ABSTRACT In Italy, organized crime poses a significant economic challenge as it reduces productivity and contributes to regional inequalities. This study investigates the influence of mafia activity on firm efficiency, with a specific focus on civil engineering companies. A composite indicator of organized crime was developed to measure its presence at
Antonio Fabio Forgione, Carlo Migliardo
wiley   +1 more source