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American Economist articles from March 2003
Publishes graduate and undergraduate student essays and articles on all areas of economics research. The essays cover current developments in pure and applied economics. This is the official journal of Omicron Delta Epsilon, the international honor societ
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American Economist archives from March 2003
The Keynesian gospel according to Modigliani.(Keynes's contribution to the understanding and cure of mass unemployment)
March 22, 2003... Introduction
My purpose in this essay is to try to explain Keynes's path-breaking contribution to the understanding and cure of mass unemployment, the most serious shortcoming of a market economy. My ambition is to do so in a way that is...
Behavioral macroeconomics and macroeconomic behavior.
March 22, 2003... Think about Richard Scarry's Cars and Trucks and Things That Go. (1) Think about what that book would have looked like in sequential decades of the last century had Richard Scarry been alive in each of them to delight and amuse children and...
Two puzzles of asset pricing and their implications for investors.
March 22, 2003... 1. Introduction
The tradeoff of risk and return is becoming ever more important for individuals, institutions, and public policy. In fact, Bernstein (1996) suggests that the rational analysis of risk is a defining characteristic of the...
Whither macro?(macroeconomics)
March 22, 2003... I.
When I first began serious study of macroeconomics, twenty years ago at the London School of Economics, the field was in serious disarray. (Me being who I was, that was part of the attraction.) The Keynesian consensus of the 1960s was...
Ranking of economic journals: A statistical survey and analysis.(Illustration)
March 22, 2003... I. Introduction
The literature has focused on two prominent features of economics journals. One group has documented several underlying qualitative criteria in order to rank the journals. The other has attempted to make inferences from the...
What Price Fame? (Book Review).(Book Review)
March 22, 2003... What Price Fame? By Tyler Cowen. Cambridge, MA: Harvard University Press, 2000. Pp. 248.
"Every man, however hopeless his pretensions may appear, has some project by which he hopes to rise to reputation; some art by which he imagines that...