History of Economics eJournal最新文献_第8页

Nonneutrality of Money in Dispersion: Hume Revisited 货币在分散中的非中性:再访休谟

History of Economics eJournal Pub Date : 2019-08-01 DOI: 10.1111/iere.12387

Gu Jin, Tao Zhu

引用次数: 5

Hamilton's Law and Finance - Borrowing from the Brits (And the Dutch) 汉密尔顿的法律和金融——借鉴英国(和荷兰)

History of Economics eJournal Pub Date : 2019-07-24 DOI: 10.2139/ssrn.3428606

Christian C. Day

{"title":"Hamilton's Law and Finance - Borrowing from the Brits (And the Dutch)","authors":"Christian C. Day","doi":"10.2139/ssrn.3428606","DOIUrl":"https://doi.org/10.2139/ssrn.3428606","url":null,"abstract":"We live in an era when Modern Monetary Theory has gained purchase. Deficits do not seem to matter to nations or their finance ministers. States believe the can print their way to utopia without a reckoning; this is a scheme freighted with disaster. \u0000 \u0000This article centers on the achievements of America’s greatest finance minister whose grasp of political economy was without equal. Hamilton charted the course for American economic power. His work is timely and worthy of study. \u0000 \u0000Late-18th century America sought commercial growth and new manufacturers yet feared monopolistic economic power. Hamilton’s economic program, centered on a national bank and program for manufacturing, provided the framework for the finance-led transformation of America. In a short time, Hamilton’s elegant solutions (based upon the English financial model) transformed America from a defaulting debtor to a magnet that attracted immense amounts of capital in the 19th century. The burden of the Revolutionary War debt needed to be resolved. Hamilton’s program: the assumption of the states and Confederation debt, its monetization, the establishment of the Bank of the United States, and Report on Manufactures laid the foundation for a vibrant economy. The article demonstrates how Hamilton’s prudent program strengthened the new federal government while providing the blueprint for the commercial society that emerged in the 19th century.","PeriodicalId":253619,"journal":{"name":"History of Economics eJournal","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-07-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124373473","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

The Wealth of Nations: A Further Inquiry into its Nature and Causes 国富论:对国富论的性质和成因的进一步探讨

History of Economics eJournal Pub Date : 2019-07-17 DOI: 10.2139/ssrn.3421222

Yijiang Wang

引用次数: 1

‘We Can Get a Coup’: Warren Nutter and the Overthrow of Salvador Allende “我们可以发动政变”:沃伦·纳特和推翻萨尔瓦多·阿连德

History of Economics eJournal Pub Date : 2019-06-19 DOI: 10.2139/ssrn.3406799

D. Kuehn

引用次数: 16

Pluralism and Political Economy in Interwar Britain: G.D.H. Cole on Economic Planning 两次世界大战之间英国的多元主义与政治经济:G.D.H.科尔论经济计划

History of Economics eJournal Pub Date : 2019-06-15 DOI: 10.2139/ssrn.3457295

Carlos Eduardo Suprinyak

引用次数: 0

Say’s Law and the Classical Theory of Depressions 萨伊定律与经济萧条的经典理论

History of Economics eJournal Pub Date : 2019-06-07 DOI: 10.2139/ssrn.3401002

David Glasner

{"title":"Say’s Law and the Classical Theory of Depressions","authors":"David Glasner","doi":"10.2139/ssrn.3401002","DOIUrl":"https://doi.org/10.2139/ssrn.3401002","url":null,"abstract":"Say’s Law occupies a prominent, but equivocal, position in the history of economics, having been the object of repeated controversies about its meaning and significance since it was first propounded early in the nineteenth century. It has been variously defined, and arguments about its meaning and validity have not reached consensus about what was being attacked or defended. This paper proposes a unifying interpretation of Say’s Law based on the idea that the monetary sector of an economy with a competitively supplied money involves at least two distinct markets not just one. Thus, contrary to the Lange-Patinkin interpretation of Say’s Law, an excess supply or demand for money does not necessarily imply an excess supply or demand for goods in a Walrasian GE model. Beyond modifying the standard interpretation of the inconsistency between Say’s Law and a monetary economy, the paper challenges another standard interpretation of Say’s Law as being empirically refuted by the existence of lapses from full employment and economic depressions. Under the alternative interpretation, originally suggested by Clower and Leijonhufvud and by Hutt, Say’s Law provides a theory whereby disequilibrium in one market, causing the amount actually supplied to fall short of what had been planned to be supplied, reduces demand in other markets, initiating a cumulative process of shrinking demand and supply. This cumulative process of contracting supply is analogous to the Keynesian multiplier whereby a reduction in demand initiates a cumulative process of declining demand. Finally, it is shown that in a temporary-equilibrium context, Walras’s Law (and a fortiori Say’ Law) may be violated.","PeriodicalId":253619,"journal":{"name":"History of Economics eJournal","volume":"84 5","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-06-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"120812404","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

What Can We Learn about Frank Knight’s Economic Theory from the Prefaces to the Reprints of Risk, Uncertainty and Profit? 从《风险、不确定性和利润》再版的前言中，我们可以了解弗兰克·奈特的什么经济理论?

History of Economics eJournal Pub Date : 2019-05-17 DOI: 10.2139/ssrn.3390028

Ross B. Emmett

引用次数: 0

Impact Factor Pressures, Scientific Practices, and the Place of Survey Articles in the History of Economics

History of Economics eJournal Pub Date : 2019-05-17 DOI: 10.2139/ssrn.3389850

Erich Pinzón-Fuchs, Cleo Chassonnery-Zaïgouche, Catherine Herfeld

{"title":"Impact Factor Pressures, Scientific Practices, and the Place of Survey Articles in the History of Economics","authors":"Erich Pinzón-Fuchs, Cleo Chassonnery-Zaïgouche, Catherine Herfeld","doi":"10.2139/ssrn.3389850","DOIUrl":"https://doi.org/10.2139/ssrn.3389850","url":null,"abstract":"The literature in the history of economics has grown to an extent that it is almost impossible for an individual to read, study, and assimilate all the recent works even in a specialized area. Other disciplines have coped with similar growth by developing mechanisms that help members keep up-to-date with the latest scholarly contributions and methodological trends – mechanisms including survey articles. But in the history of economics, and in the larger academic context, survey articles bring serious challenges. One challenge is their unintended consequences for rankings of history of economics journals on the basis of citation measures, as evidenced by Clarivate Analytics decision to exclude three major history of economics journals from its 2018 Journal Citation Report. In this paper, we take this case as representative for illustrating the functions, advantages, and challenges of survey articles. We argue that survey articles should play an important role in the history of economics as mechanisms that mitigate narrow specialization, provide greater visibility, support reflexivity, set and evaluate the research agenda of the field, and work as a ‘technology of distance’ builds up trust among historians of economics.","PeriodicalId":253619,"journal":{"name":"History of Economics eJournal","volume":"17 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-05-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121489785","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Keynes’s Philosophy of Mathematics Can’t Be Mastered by Reading the Notes of His Economics Lectures Made by His Students in the Years 1932–35 凯恩斯的数学哲学不能通过阅读1932-35年间他的学生所做的经济学讲座笔记来掌握

History of Economics eJournal Pub Date : 2019-05-09 DOI: 10.2139/ssrn.3385726

M. E. Brady

引用次数: 0

The State of Econometrics After Pratt, Schlaifer, Skyrms, and Basmann 普拉特、施莱弗、斯基姆斯和巴斯曼之后计量经济学的发展状况

History of Economics eJournal Pub Date : 2019-05-06 DOI: 10.2139/ssrn.3383763

P. Swamy, Peter von zur Muehlen, J. Mehta, I. Chang

{"title":"The State of Econometrics After Pratt, Schlaifer, Skyrms, and Basmann","authors":"P. Swamy, Peter von zur Muehlen, J. Mehta, I. Chang","doi":"10.2139/ssrn.3383763","DOIUrl":"https://doi.org/10.2139/ssrn.3383763","url":null,"abstract":"Thirty-five years ago, J. W. Pratt and Robert Schlaifer published a critique of then ruling econometric techniques. Introducing a distinction between factors and concomitants in regressions, they determined that a “condition for consistent estimation stated in virtually every book on econometrics is meaningless in one common form, impossible to satisfy in another” and that “the relation of predetermined to excluded variables is irrelevant to consistent estimation of the effects of endogenous variables.” This critique was motivated by a common view that the error term in a regression represents the net effect of omitted variables. As this paper demonstrates, this assumption poses a problem whenever the purpose of a model is to explain an economic phenomenon, because the estimated coefficients as well as the error will be wrong in the sense that they are not unique. But a model that is not unique cannot be a causal description of unique events in the real world. For a remedy, this paper presents a methodology based on conditions under which the error term and the coefficients on regressors included in a model do become unique, where the latter represent the sums of direct and indirect effects on the dependent variable, with omitted but relevant regressors having been chosen to define both these effects. The two effects corresponding to any particular omitted relevant regressor can be learned only by converting that regressor into an included regressor. For those cases where omitted relevant regressors are not identified, thereby preventing a meaningful distinction between direct and indirect effects, we introduce so-called coefficient drivers and a feasible method of generalized least squares, permitting a “total-effects” causal interpretation of the coefficients in a model.","PeriodicalId":253619,"journal":{"name":"History of Economics eJournal","volume":"10 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-05-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128432172","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0