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History of Political Economy (2018) 50 (S1): 231–248.
Published: 01 December 2018
... for abstract mathematical models as helping inquirers to rise above such impediments, even if only temporarily, or to gain focus, as was the case with his making technical progress an exogenous variable. Tinbergen’s models of the “first stage” were also intended to make planning for development tractable...
History of Political Economy (2019) 51 (3): 471–491.
Published: 01 June 2019
...: the structure of the money market is clearer, as is the relationship of its equations with the microeconomic choices of banks. Regarding credit rationing, we found that modelers made important efforts to include it despite its nonobservable nature and to develop a measure of it. A succession of proxy variables...
History of Political Economy (2021) 53 (S1): 81–110.
Published: 01 December 2021
... orientations. By analyzing the financial programming tool, the article shows that the treatment of basic national accounting identities neglects variables like household consumption even when alternative methods exist. Changes in methods may be discarded to ensure the legibility of economic works over...
History of Political Economy (2022) 54 (5): 859–877.
Published: 01 October 2022
...Maria Pia Paganelli Abstract What are the causes of prosperity? In addition to the division of labor, saving, capital accumulation, and good institutions, Adam Smith explains opulence through vanity and luck, two variables we tend to forget today. For Smith, wealth comes from our propensity...
History of Political Economy (2017) 49 (3): 405–436.
Published: 01 September 2017
...Mauro Boianovsky This essay makes use of archival material to examine Evsey Domar's role in the introduction of the rate of growth as a variable in economics in the 1940s and 1950s. Domar investigated the nature of what he called the “moving equilibrium” of economic processes with infinite duration...
History of Political Economy (2020) 52 (S1): 191–217.
Published: 01 December 2020
... economy. Early in his career, he had developed an analogue electrical-mechanical “regression analyzer” to calculate statistical estimates. During the mid-1950s, he shifted to micro-level data and the Monte Carlo method, and then created the first microanalytic simulation of demographic variables. After...
History of Political Economy (2011) 43 (suppl_1): 166–187.
Published: 01 December 2011
... demand study, and his 1955 and 1958 papers on limited dependent variables (Tobit estimation), were contributions to econometrics, not just the use of existing techniques by an applied economist. The present essay examines Tobin's involvement with econometrics from his student days “teaching myself...
History of Political Economy (2008) 40 (1): 133–162.
Published: 01 March 2008
... of payments. Exchange rates are monetary variables, and monetary policy strongly influences their movement. Contrary to received commentaries, Graham was the first twentieth-century economist to make a coherent case for flexible rates; he was an unappreciated forerunner of postwar, Chicago-based advocacy...
History of Political Economy (2011) 43 (suppl_1): 140–165.
Published: 01 December 2011
... . User’s Manual for the Estimation of Linear Equations with Lagged Dependent Variables and Autoregressive Errors . London School of Economics . ———. 1974 . Stochastic Specification in an Aggregate Demand Model of the United Kingdom . Econometrica 42.3 : 559 – 78 . Hildreth C. Jarrett F...
History of Political Economy (1990) 22 (3): 489–505.
Published: 01 September 1990
..., the aggregation of economic variables has not been included in lists of Walras's contributions. Nevertheless, he added individual supply func- tions to obtain market supply functions and added individual demand functions to obtain market demand functions, and he did so as early as 1874, thereby achieving...
History of Political Economy (2010) 42 (1): 75–110.
Published: 01 March 2010
... considers the fol- lowing more concrete problem. Let y denote an economic variable, the observed values of which may be considered as results of planned eco- nomic decisions taken by individuals, ﬁ rms, etc. And let us start from the assumption that the variable y is inﬂ uenced by a number of causal...
History of Political Economy (2011) 43 (suppl_1): 258–282.
Published: 01 December 2011
... with Variable Coefficients: Integration and Extension . Annales de l’INSEE 30–31 : 483 – 509 . ———. 1978b . On the Pooling of Time Series and Cross Section Data . Econometrica 46 : 69 – 85 . Mundlak Y. Hoch I. . 1965 . Consequences of Alternatives Specifications in Estimation of Cobb...
History of Political Economy (1997) 29 (4): 593–633.
Published: 01 November 1997
..., and the control of bills of exchange is discussed in the last one. The emphasis is on estimating linear relationships between changes in dependent and independent variables, in line with the currency school model which implies proportionality. Since the emphasis is on monetary control, it is reasonable...
History of Political Economy (1984) 16 (4): 577–582.
Published: 01 November 1984
... of Political Economy 16:4 (1984) ness can also be removed by allowing the number of firms in the market to be a variable (Section II). It is further argued that this is a familiar convention in models with nonconstant returns (Section III), and that it is in accord with Wicksell's own work...
History of Political Economy (1990) 22 (2): 281–294.
Published: 01 June 1990
.... Every algebraic equation or set of such equa- tions defines in this sense a class of patterns, with the individual manifestation of this kind of pattern being particularized as we substitute definite values for the variables. (1967b, 23-24) 6. See, e.g., Hayek 1967a, 4-5; 1967c, 94...
History of Political Economy (1986) 18 (1): 87–110.
Published: 01 March 1986
... of it is accumulated. According to Marx the total production can be presented in this case as follows: I. Means-of-production industries Constant capital (c) + variable capital (v) + surplus value (m) 3. The English translation is Luxemburg 1951. [Translator] King Otto Bauer’s...
History of Political Economy (2009) 41 (Suppl_1): 315–333.
Published: 01 December 2009
... Origins of Comparative Development: An Investigation of the Settler Mortality Data . Mimeo, University of Michigan. Angrist, J., and G. Imbens. 1999 . Comment on James J. Heckman, “Instrumental Variables: A Study of the Implicit Behavioral Assumptions Used in Making Program Evaluations.” Journal...
History of Political Economy (1969) 1 (2): 359–369.
Published: 01 June 1969
...= annual rate of exploitation = 100% 6. Marx, p. 171. JOHNSON THE LAST HOUR OF SENIOR AND MARX 363 variables, capital letters are used for annual-flow variables, and lower- case letters for the dependent ratios or model constraints. Table 2 gives the definitions...
History of Political Economy (1983) 15 (2): 229–247.
Published: 01 June 1983
.... This volume . . . includes fragments of various draft-chapters of the General Theory written in 1933. These fragments repeatedly present the entrepreneur’s decision to (say) expand output as being based on whether or not aggregate receipts exceed aggregate variable costs. They also show...
History of Political Economy (2014) 46 (2): 211–229.
Published: 01 June 2014
...) Like Mill, Haavelmo (1944, 40) did not believe that economics could be turned into an exact science such as astronomy. From experience we know that attempts to establish exact functional relationships between observable economic variables would be futile. It would indeed be strange...