Questions tagged [reference-request]

requests for information about papers, books, or other sources that address a particular economic question or issue.

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9
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7answers
4k views

Mathematical Micro/Macro Economics Textbook Recommendation

I was formerly an economics major and now also majoring in mathematics. I want a textbook that is rigorously based on mathematics; not just using mathematics whenever the author wants, but in a more ...
11
votes
2answers
445 views

The Case for Basic Income in developed and underdeveloped countries

From what I can tell, the idea of the basic income guarantee is very popular in some circles as an excellent alternative to a lot of modern welfare systems. Has anybody developed a theoretic or ...
21
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5answers
4k views

Where to start learning economics as a mathematician?

I study pure mathematics at university and I'm looking to get into economics, with pretty much no background knowledge about it. Are there good sources to learn from with a decent mathematical ...
6
votes
5answers
2k views

Book recommendations on empirical methods in economic research and econometrics?

This question is more so geared toward anyone with research experience within economics, though of course, anyone is welcome to respond. I'm an undergraduate math major with a minor in economics. I'...
15
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3answers
823 views

The Economics of Coronavirus

People are concerned about the economic impacts of the virus. How severe will the economic downturn be? Will the coronavirus cause a global recession worse than the 2008 crisis? I'm not looking here ...
12
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7answers
3k views

Textbook for macroeconomics (advanced undergrad)

I find that many contemporary macroeconomics textbooks are too applied, filled with examples, case studies and intuitive illustrations, often at the expense of quantitative rigour and therefore the ...
7
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1answer
528 views

How does US (its economy, banks, industry) profit from dollar being the “standard currency”?

How does US (its economy, banks, industry, "finance industry") profit from dollar being the "standard currency"? I am not seeking "ideological" explanations, but explanations of the mechanisms ...
2
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1answer
284 views

Resources to improve my economic intuition

I am trying to improve my economic logic skills and ability to think about day-to-day issues in the systematic way economics and decisions science approaches scarcity or optimization. A simple ...
9
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5answers
879 views

References for particular definitions of risk and uncertainty

I have some doubts about risk vs. uncertainty. I have read the thread "What is the difference between risk, uncertainty and ambiguity" and have skimmed through Knight's "Risk, Uncertainty, and Profit" ...
7
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3answers
12k views

What is a rational consumer?

There is a lot of debate on whether or not consumers and investors are rational. Unfortunately, I haven't seen much qualification for what is called a rational consumer. What are the requirements ...
7
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9answers
873 views

What are some further readings in Econometrics you recommend?

I've reached the end of my Econometrics courses for the undegraduate level at my university, but I would like to continue learning. I hope I could get some recommendations for further reading. I ...
5
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2answers
199 views

Stimulus Effect of the Minimum Wage

In the question about the minimum wage found here, I have heard several times that an increase in the minimum wage can, as one of several competing effects, "boost the economy" by increasing the ...
77
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19answers
16k views

What are some results in Economics that are both a consensus and far from common sense?

What are some results in Economics that are both a consensus between most economists and far from common sense? I would also welcome suggestions of clear definitions for what we should mean as ...
13
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3answers
333 views

What have been the main developments in macroeconomics and financial economics since the 2008 financial crisis?

In the aftermath of 2008 economists were, fairly or not, blamed for a failure to foresee the coming crisis. Ideas such as "The Great Moderation" and market efficiency were openly ridiculed as ...
13
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2answers
456 views

Uses of convex analysis in Economics

I'm taking kind of a crash-course in convex analysis to complement my mathematical skills and was wondering if anyone knew about nice ways in which this kind of tools were used in Economics. To be ...
14
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1answer
2k views

Solving the Hamilton-Jacobi-Bellman equation; necessary and sufficient for optimality?

Consider the following differential equation \begin{align} \dot x(t)=f(x(t),u(t)) \end{align} where $x$ is the state and $u$ the control variable. The solution is given by \begin{align} x(t)=x_0 + \...
14
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2answers
4k views

Larry Summers on the causes of secular stagnation

In an influential speech on November 8, 2013 at the IMF Annual Research Conference, Larry Summers suggested that slow economic growth in the years following the 2007–2008 financial crisis might be due ...
14
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3answers
198 views

Current knowledge about the empirics of consumer theory

I would like to get up to speed on the current state of empirical work done to test the assumptions and predictions of consumer theory (think Chapters 1, 2, 3, and 6 of Mas-Colell et al.). Can anyone ...
9
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4answers
4k views

What are some good graduate-level econometrics books for someone with a strong mathematics background?

Related: Book recommendations on empirical methods in economic research and econometrics? I would like to focus mainly on graduate texts in Econometrics. From the question above, I gather that ...
8
votes
1answer
230 views

A timeline on the the key achievements of Economics and its evolution

Something I've never seen in Economics but have in Maths and Chemistry and really enjoyed is that when I took it we got to the see the evolution of the science (and yes Economics is a [social] science ...
8
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3answers
968 views

Book Recommendation for Microeconometrics of Discrete Data

I am looking for a few good books pitched at different levels to help analyse discrete data. Specifically: Specification, Estimation and the application of econometric methods to model discrete ...
7
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1answer
176 views

Splittet Value Function and Hamilton-Jacobi-Bellman equation

General Problem Let $k\in\mathbb{R}_+$ be the state variable, $k=k^*$ a fixed point (saddle) and $v(k)$ a value function. The problem is, that the value function has two distinct functional forms, ...
7
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6answers
1k views

Graduate Level Textbook on Labor Economics and Macro-Labor

What would be good textbooks at the graduate level that deal with Labor Economics and Labor-Macro (As in, Equilibrium Unemployment Theory, Shimer Puzzle etc)?
6
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2answers
2k views

Financial Economics Textbooks

I have an interest in financial economics, and I plan to take the graduate sequence, however I did not take an undergraduate course in that field. I would really appreciate it if someone could ...
4
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1answer
381 views

Good books to learn social choice theory

I wanted to learn Social Choice Theory and have fine mathematical background. I have read about it as a part of advanced microeconomics (Jehle and Rene)- Arrow's Impossibility Theorem etc. and got ...
4
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1answer
225 views

What are the defining features of Capitalism? [closed]

What are the necessary and sufficient conditions for an economic system (or mode of production) to be classified as "Capitalism"? Is it markets? Is it for-profit corporations? Is it limited liability ...
9
votes
2answers
498 views

Where to start with social networks?

I'm working on my master's thesis in industrial organization and I have a model that is based on social networks. I have had two courses about social networks (one more focused on basic industrial ...
9
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5answers
1k views

Are terrorists rational?

Terrorism in general, and suicidal terrorism in particular, is popularly seen as “irrational,” but many economists and political scientists argue otherwise. This quote is from Terrorism: The ...
7
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4answers
5k views

Existence of utility representation of a rational but discontinuous preference

This is related to Do discontinuous preferences imply no continuous utility function? I think the title of the above-linked question is phrased in such a way that obscures a subtly different but more ...
7
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5answers
1k views

list of math intense graduate level microeconomics books?

List of math intense graduate level microeconomics books? Except Reny's book, krep's books, varian's book and mas-collell's book books from subfields are acceptable, however by math intense i mean ...
4
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3answers
509 views

Literature Recommendation: Advanced Undergraduate Economics

I come from a strong quantitative background and am going to law school in the fall. I'm interested in financial product regulation and competition law. I have taken an introductory course in ...
3
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3answers
311 views

Alternatives to Capitalism and Communism

Are there any remarkable economists who have envisioned alternative economic system to the ones previously tried? I'm looking for realistic economic system models and their authors.
7
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3answers
978 views

What are good books about monopolies and market failures?

Is there a good undergraduate level book specifically about economic monopolies and market failures?
4
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3answers
2k views

What precisely is scarcity?

I'm aware that certain terms in economics have precise definitions that don't necessarily line up with our intuition about what they mean. I'm currently writing a paper that heavily relies on the ...
6
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2answers
75 views

Auction theory reference request

I am interested in finding the literature or at least some references (books, journal papers etc.) for the following problem: Suppose there is an auction with one seller and one buyer. The seller ...
6
votes
2answers
199 views

Multiple equilibria: which one to select?

There are two agents $i=1,2$. Consider the following programm \begin{align} &V_1(x_0) := \max_u \int^\infty_0 e^{-\rho t}F_1(x(t),u(t),v(t))dt\\ &V_2(x_0) := \max_v \int^\infty_0 e^{-\rho t}...
6
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3answers
285 views

Conventional Monetary Policy and Income Inequality

In almost every textbook, it's stated that monetary policy is preferred to fiscal policy, since the latter is more politically difficult to implement due to smaller consensus on its redistributive ...
4
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3answers
1k views

How is the ARIMA model a valid approach for forecasting Economic Variables?

Ive noticed the use of univariate forecasting methods (i.e the ARIMA model) employed in forecasting inflation (see references below). How is this a valid approach in terms of forecasting economic ...
4
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1answer
115 views

Empirical Data on Demand for Minimum-Wage Jobs in the USA

The idea of a minimum wage and its effects in terms of supply and demand are well-known in mainstream economic theory. I'm constructing an argument regarding the minimum wage, and what I'm curious ...
3
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1answer
80 views

Is there any mainstream criticism of the Benes-Kumhof conclusion that the Chicago Plan would improve the US economy nowadays?

A 2012 IMF Working paper by Benes and Kumhof "The Chicago Plan Revisited " has this abstract, finding in favor of the Chicago Plan an all counts basically: At the height of the Great Depression a ...
3
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2answers
95 views

What was the Rogoff & Reinhart spreadsheet mistake?

In class our professor said that the Rogoff and Reinhart research on growth and debt was discredited due to spreadsheet mistake. What was this mistake? Also did they perform their research in excel ...
3
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2answers
242 views

Universal Basic Income - Menial Tasks

The Universal Basic Income scenario seems to be one where people are free to cultivate their passions. From what I could gather, the main argument for this to be the best case scenario goes something ...
2
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0answers
42 views

Papers explaining Roberts's law

I was reading this article on power laws in economics. If you look at figure.5 on page 11, you come across an interesting note. Notes: Left panel: The CEO compensation is the ex ante one, ...
2
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0answers
70 views

Cyclicality of Markups

I'm looking for scholarly articles or summaries on the subject of markups. More importantly, for empirical evidence whether they're pro- or counter cyclical, and on theoretical papers on their ...
2
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0answers
45 views

Are there empirical studies that quantify shoe-leather or menu costs?

Two theoretical arguments why a high level of inflation is bad (e.g. for growth) are: shoe-leather cost: keeping lower money balances when inflation is high (implying more frequent trips to the bank/...
2
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0answers
40 views

Going from DRMs to Indirect Mechanisms

I have recently started studying mechanism design (after having taken a basic graduate micro course) through Borgers' 'Introduction to the theory of mechanism design'. I was wondering if people are ...
2
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3answers
547 views

Book recommendations: National income accounting and IS-LM model

Basically I'm interested in solving tricky thought provoking exercises based on National income and on IS LM model. I've read mankiw but it didn't satisfy my needs.
1
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1answer
82 views

Is the study of the volunteer sector inappropriate for a labour economist?

In the basics of labour economics the driving factor for increase in labour supply (for the workers in a given market) is increase in wages. The volunteer sector consists of general and skilled ...
1
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1answer
197 views

Have any economists ever argued that the notion of opportunity cost should be done away with?

I hold the opinion that the notion of opportunity cost "muddies the intellectual waters" so to speak, and I'd like to know if any professional economists have expressed this sentiment, or similar. ...
0
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2answers
63 views

Short textbook of econometrics?

I'm looking for a textbook about econometrics, but I'd like to find one with the following features : Short (350 pag. max) Introductory Clear on the math and stats used With exercises Do you know a ...