scholarly journals RATIONAL EXPECTATIONS: RETROSPECT AND PROSPECT

2013 ◽  
Vol 17 (5) ◽  
pp. 1169-1192 ◽  
Author(s):  
Kevin D. Hoover ◽  
Warren Young
Keyword(s):  
Social Sciences ◽  
Financial Crisis ◽  
Behavioral Economics ◽  
Rational Expectations ◽  
Panel Discussion ◽  
50Th Anniversary ◽  
Expectations Hypothesis ◽  
History Of Economics ◽  
History Of ◽  
Recent Financial Crisis

The transcript of a panel discussion marking the 50th anniversary of John Muth's “Rational Expectations and the Theory of Price Movements” (Econometrica 1961). The panel consisted of Michael Lovell, Robert Lucas, Dale Mortensen, Robert Shiller, and Neil Wallace. The discussion was moderated by Kevin Hoover and Warren Young. The panel touched on a wide variety of issues related to the rational-expectations hypothesis, including its history, starting with Muth's work at Carnegie Tech; its methodological role; applications to policy; its relationship to behavioral economics; its role in the recent financial crisis; and its likely future.The panel discussion was held in a session sponsored by the History of Economics Society at the Allied Social Sciences Association (ASSA) meetings in the Capitol 1 Room of the Hyatt Regency Hotel in Denver, Colorado.

REAL BUSINESS CYCLES AFTER THREE DECADES

2013 ◽  
Vol 19 (2) ◽  
pp. 425-445
Author(s):  
Sumru Altug ◽  
Warren Young
Keyword(s):  
Social Sciences ◽  
Business Cycles ◽  
Business Cycle ◽  
Panel Discussion ◽  
Real Business Cycle ◽  
Real Business Cycles ◽  
Macroeconomic Analysis ◽  
Time To Build ◽  
History Of ◽  
Recent Financial Crisis

The transcript of a panel discussion marking three decades of the real business cycle approach to macroeconomic analysis as manifested in Kydland and Prescott's “Time to Build” (Econometrica, 1982) and Long and Plosser's “Real Business Cycles” (Journal of Political Economy, 1983). The panel consists of Edward Prescott, Finn Kydland, Charles Plosser, John Long, Thomas Cooley, and Gary Hansen. The discussion is moderated by Sumru Altug and Warren Young. The panel touches on a wide variety of issues related to real business cycle models, including their history and methodology, starting with the work of Prescott and Kydland at Carnegie Tech and Plosser and Long at Rochester; their applications to policy; and their role in the recent financial crisis and likely future.The panel discussion was held in a session sponsored by the History of Economics Society at the Allied Social Sciences Association (ASSA) meetings in the Randle A Room of the Manchester Grand Hyatt Hotel in San Diego, California.

scholarly journals Economists as Worldly Philosophers

2011 ◽  
Vol 101 (3) ◽  
pp. 171-175 ◽  
Author(s):  
Robert J Shiller ◽  
Virginia M Shiller
Keyword(s):  
Financial Crisis ◽  
Early History ◽  
Economic Science ◽  
History Of Economics ◽  
Great Progress ◽  
History Of ◽  
Crisis Support ◽  
Interdisciplinary Interaction

While leading figures in the early history of economics conceived of it as inseparable from philosophy and other humanities, there has been movement, especially in recent decades, towards its becoming an essentially technical field with narrowly specialized areas of inquiry. Certainly, specialization has allowed for great progress in economic science. However, recent events surrounding the financial crisis support the arguments of some that economics needs to develop forums for interdisciplinary interaction and to aspire to broader vision.

scholarly journals Michel Foucault's archaeology of knowledge and economic discourse

2010 ◽  
Vol 3 (2) ◽  
pp. 1 ◽  
Author(s):  
Serhat Kologlugil
Keyword(s):  
Social Sciences ◽  
Economic Thought ◽  
History Of Economic Thought ◽  
Economic Methodology ◽  
Economic Discourse ◽  
History Of Economics ◽  
History Of ◽  
Archaeology Of Knowledge ◽  
Archaeological Analysis ◽  
Epistemological Framework

The literature in economic methodology has witnessed an increase in the number of studies which, drawing upon the postmodern turn in social sciences, pay serious attention to the non-epistemological-discursive elements of economic theorizing. This recent work on the "economic discourse" has thus added a new dimension to economic methodology by analyzing various discursive aspects of the construction of scientific meanings in economics. Taking a similar stance, this paper explores Michel Foucault's archaeological analysis of scientific discourses. It aims to show that his archaeological reading of the history of economic thought provides an articulate non-epistemological framework for the analysis of the discursive elements in the history of economics and contemporary economic theorizing.

Money and Banking in Scotland and Norway

2015 ◽  
Author(s):  
John Bryden ◽  
Keith Hart
Keyword(s):  
Monetary Policy ◽  
Fiscal Policy ◽  
Financial Crisis ◽  
Critical Discussion ◽  
Small Open Economies ◽  
History Of ◽  
Continued Use ◽  
Key Features ◽  
Recent Financial Crisis ◽  
Scottish Independence

This chapter explores the history of money and banking in Scotland and Norway, and, focusing for the most part on Scotland, make comparisons between the monetary experience of both in the period up to the recent financial crisis and its aftermath. The Chapter further considers the currency and banking options facing small open economies like those of the two countries, in the context of the dramatic changes take place in the global organisation of money. The authors consider the key features of banking and monetary policy in Norway and Scotland, and explore fiscal policy questions relating to Scottish independence and the available monetary alternatives, querying the continued use of monopoly currencies as the accepted norm and emphasising the firm need for regulation of finance in any future Scotland. The analysis, which uses sociological, anthropological, economic, historical, legal and philosophical sources, is far from conventional and includes a critical discussion of the consequences of the removal of political controls over money in recent decades that has led to a situation where politics is still mainly national while the money circuit is global and lawless.

Sign in / Sign up

Export Citation Format

Share Document