Central banks and other policy institutions have a long history of using macroeconomic models to help prepare forecasts and to quantify the economic consequences of various policies. Likewise, private ...

Abstract: Robert Lucas’s famous critique of macro modeling focused the attention of modelers on what he called adaptive expectations: What’s happening “now” in a model’s data space is more important ...

We develop an integrated epidemiological-macroeconomic model to analyze the interplay between the COVID-19 outbreak and economic activity, as a tool for capacity building purposes. We illustrate a ...

This article appears in the April 2023 issue of The American Prospect magazine. Subscribe here. Economics is commonly described as the science of scarcity. We have limited resources, and we have to ...

The JEI has been internationally respected journal of institutional and evolutionary economics since its founding in 1967. The journal has published articles that describe aspects of evolving economic ...

PDF document available at: https://www.un.org/development/desa/dpad/wp-content/uploads/sites/45/publication/2016_Apr_WorldEconomicForecastingModel.pdf The World ...

This paper develops a two-country macro model with endogenous tradability to study features of international economic integration. Recent episodes of integration in Europe and North America suggest ...

Expertise from Forbes Councils members, operated under license. Opinions expressed are those of the author. Digitalization is transforming everything, and as a part of this, the technology-driven ...

Léon Walras (1874) had already realised that his neo-classical general equilibrium model could not accommodate autonomous investments. In the early 1960s, Amartya Sen analysed the same issue in a ...

Adam Hayes, Ph.D., CFA, is a financial writer with 15+ years Wall Street experience as a derivatives trader. Besides his extensive derivative trading expertise, Adam is an expert in economics and ...