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The Empirics of General Equilibrium Tade Theory: What Have we Learned? [PDF]

open access: yes
This paper provides a selective survey of over half a century of research linking the neoclassical trade model to the data. Three lessons stand out. First, competitive and new trade theory models are complementary rather than competing ways to look at ...
Daniel Bernhofen
core  

The Two Triangles: what did Wicksell and Keynes know about macroeconomics that modern economists do not (consider)? [PDF]

open access: yes
The current consensus in macroeconomics, as represented by the New Neoclassical Synthesis, is to work within frameworks that combine intertemporal optimization, imperfect competition and sticky prices.
Hans-Michael Trautwein   +2 more
core  

New Keynesian economics : a monetary perspective [PDF]

open access: yes
In this article we construct a simple analytically tractable model to explore and evaluate New Keynesian ideas. First, we show that a New Keynesian model need not exhibit Phillips curve correlations in the absence of strategic price setting by firms ...
Stephen D. Williamson
core  

Mathematics as the role model for neoclassical economics (Blanqui Lecture)

open access: yes
Born out of the conscious effort to imitate mechanical physics, neoclassical economics ended up in the mid 20th century embracing a purely mathematical notion of rigor as embodied by the axiomatic method.
Giocoli, Nicola
core  

Farm Work, Home Work and International Productivity Differences [PDF]

open access: yes
AgricultureÂ’s share of economic activity is known to vary inversely with a countryÂ’s level of development. This paper examines whether extensions of the neoclassical growth model can account for some important sectoral patterns observed in a current ...
Douglas Gollin   +2 more
core   +2 more sources

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