Tag Info

8

An important field in current research is the yet unexplained Equity premium puzzle originally published by Mehra, Prescott (1985). Considere a multiperiod investment consumption equilibrium model (CCAPM) with its important result: $$E_t\left[m_{t,j}\right]=\frac1{\left(1+R_{F,t+j}\right)}$$ where $E_t\left[m_{t,j}\right]$ donates the expected value of a ...

8

There is actually no clear cut consensus on where Economics belongs (although it is fair to say most would likely put it into category of social science). Some authors consider it to be science, some social science, some even moral science, and some even argue it should have its own category. A good paper that tries to answer this question for economics is ...

7

Popper Karl Popper is more controversial than I can possibly explain. To me, it is manifestly obvious that in order for an idea to be "right", there must be some way for it to be wrong (otherwise, it's a tautology, and those are not very interesting). To this end, an experiment is a technique for demonstrating that an idea may be wrong. But if ...

6

In short, no it is not necessary. I have never asked anyone for permission and I have never been asked. The people I thank usually have not read my paper (rarely anyone does, to be honest), but we have had chats on visits or after seminars or conferences. If you thank someone make sure they are familiar with the paper. Certainly include someone who presented ...

5

I don't have many books to share but there is the website on Farm economy data from the USDA. Farm Labor USDA Economic Research Service (ERS) https://www.ers.usda.gov/topics/farm-economy/farm-labor/ There is also the USDA National Agricultural Statistics Service (feel free to explore their site) https://www.nass.usda.gov/Data_and_Statistics/index.php ...

5

Good question! Qualitative methods (QM henceforth) have become more widespread in the recent decades, according to a 2014's survey in the Journal of Economic Surveys. QM include, among others, in-depth interviews, focus groups, case studies, ethnographic studies, and mixed-methods (quanti+quali). They are still not that popular though, and have been very ...

4

Deaton's "Understanding Consumption" (1993) was one of the major sources I used when doing seminar work for my master's. In the end I decided to write my thesis about a different (somewhat related) subject after realising the empirical difficulties with what I planned on doing. I have since chosen a different research subject, but Understanding Consumption ...

4

Another unsolved puzzle in economics is the Dividend puzzle studied first by Fischer Black(1976), which evolves from the Modigliani-Miller theorems. Considere well known models for equilibrium in capital markets like the CAPM or the Fama-French 4-factor model. In the latter, return $r_i$ of any asset $i$ is explained by the risk of $i$ towards given ...

4

Seminars and conferences are the best ways to get exposure to working papers, in addition to following specific authors. (Some of my colleagues also follow economists on Twitter, where they sometimes post new working papers.) In addition, subscribe to the email alerts from the journals in your field/interest. This will get you up to date with what comes out ...

3

I want to know if it's valid to talk about the economic growth and development of a city instead of a country In principle there is nothing wrong with narrowing your research question down to municipal level. There are studies that look at economic growth on urban level. Here is just an example that came out of quick google scholar search: Ding, Chengri, ...

3

Your claim that most go into academia is wrong. From the top universities, about half to two-thirds go into academia, but from most universities, most go to non-academic careers. It's simple accounting: a top-30 university graduates about 20 PhDs in economics per year, hires 1 or 2. Google "[university name] economics job market outcomes", or "[university ...

3

Very interesting question. Those at cafehayek.com seem to dislike it a lot but don't really back it up which is disappointing. At first glance, it is very easy to see how affirmative action could hurt the economy, and construction a model to show this would also be pretty straight forward. See here(paywalll) (Moro & Norman, 2003). There is pretty ...

3

I am currently doing my graduate studies in Economics; and I came across the name of Deaton in Microeconomics class the very first time. In my opinion, his work became the integral part of modern mainstream microeconomics. I studied the Almost Ideal Demand System (AIDS), the model what was mentioned above. His work builds a bridge between microeconomics and ...

2

Perhaps someone with more expertise on the matter can answer your question more directly, but in the mean time: In the literature on innovation, it is fairly common to use patent data to measure the intensity of innovation activity. Here are Aghion et al (2005) on their approach: "There is a large literature on measuring innovation intensity, with the ...

2

Update Resource Curse literature attempts to address the issues you are raising, take a look at here and here. Here is an interesting example of a technology transfer case. Original answer They do, in fact, have increased the share of R&D spending by a huge margin in the past 5 years. Some of these countries see commerce, trade and tourism as more ...

2

Fama-French library has good data on which you can test your first Fama-French regression model. I have found this video on Youtube that might help you with this first project. Ps.: It would help a lot if you were more specific about what you want to learn. I can give other suggestions, but I really don't know what you are looking for.

2

The National Bureau of Economic Research is a good source for the latest in economic research: https://nber.org/ You can also go to Brookings institute: https://www.brookings.edu/ Federal Reserve Board: https://www.federalreserve.gov/econres.htm

2

Yes there are. Two big ones are: Why are some nations rich and why are some nations poor? What are the causes of large scale involuntary unemployment of resources and individuals (I.e. a depression).

2

The answer to your question: I wanted to know if it is possible to have an exhaustive set of things I need to test to be reasonably confident about the p-values I get, both overall and for each specific regressor's coefficient is "no", but for a different reason than is stated in the comments. To start this, let me ground you in what a p-value is ...

1

I do not completely understand what you mean by "summing up the data", but I think it is pretty safe to say that the distribution isn't normal. Since you are using a Likert-scale, presumably all values are non-negative under the transformation of "summing up", which means that it can't be normal. The reason that the Kolmogorov-Smirnov test doesn't reject the ...

1

Here are a few that come to mind. Bargaining: How are bargaining outcomes determined? Market failure: Why do markets fail, and what are the welfare consequences of their failures? Suppose the answers include moral hazard, limited commitment, adverse selection, and externalities. Then, how can governments or private entities counteract these problems and ...

1

The question posed as I currently understand it is, "What determines whether schools subsidize undergraduate varsity athletes? The best way to economically approach this question is to consider the different schools as firms giving "on the job training" to the student athletes. They help improve two types of human capital for the student. Specialized ...

1

I mean, even in the US, the ability of a school to offer sports scholarships is determined by what athletic conference(/division) they belong to: Division III schools are forbidden from offering athletic scholarships. (So in that regard- it can vary even at the city level. Boston has some schools that give athletic scholarships, and some that don't). In fact,...

1

Your supervisor might want for you to come up with a research question yourself, maybe because that's part of the assignment. At the thesis, you should be able to demonstrate independent thinking rather than being told what to do for an assignment, and your supervisor might want you to do some more research on your own. However, it is also part of his/her ...

1

Are you interested in inequality? I highly recommend this database made by Thomas Piketty. Here's his TED lecture on the topic, too.

1

There is a great deal to consider when discussing resource rich countries. Countries that rely on a single sector have less diverse economies, which can lead to a number of issues (especially if the price of a particular resource drops). Additionally, resource rich countries tend to have unstable governments, which makes it difficult to diversify and grow ...

1

One of the discussions in financial forecasting is whether econometric methods or machine learning methods give more sound results. Have a look at this paper.

1

One of the main approaches in the literature is based on offering a consumer a choice between sets of bundles and then using a revealed preference theory framework to infer what kind of utility and demand functions (if any) are consistent with the observed choice behavior. For example, suppose that we one data observe a consumer able to buy any of bundles \$\...

1

In order to derive a preference indifference curve between different quantities of two goods, one possible questioning protocol would consist in: First choosing any arbitrary combination of quantities for the bundle of goods (e.g. 20 units of A and 5 units of B); Then choosing any arbitrary quantity of one of the goods (e.g. 15 units of good A); Asking the ...

Only top voted, non community-wiki answers of a minimum length are eligible