The challenge of Edmund Phelps: Crises and economic models

The paper attempts an explanation of the alleged "lack of adequate economic models" to predict and eventually avoid - through certain policy recommendations - the recurrent global or individual economic or financial and fiscal crises. In the author’s opinion, in the controversy over the &q...

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Autor principal: Piffano, Horacio Luis Pablo
Formato: Articulo Documento de trabajo
Lenguaje:Inglés
Publicado: 2012
Materias:
Ciencias Económicas
JEL: D7, D8, E, G2, G38, K2
economic models
crises
institutions
policies
regulations
Acceso en línea:http://sedici.unlp.edu.ar/handle/10915/45902
http://www.depeco.econo.unlp.edu.ar/doctrab/doc94_eng.pdf
Aporte de:
SEDICI (UNLP) de Universidad Nacional de La Plata
id I19-R120-10915-45902
record_format dspace
institution Universidad Nacional de La Plata
institution_str I-19
repository_str R-120
collection SEDICI (UNLP)
language Inglés
topic Ciencias Económicas
JEL: D7, D8, E, G2, G38, K2
economic models
crises
institutions
policies
regulations
spellingShingle Ciencias Económicas
JEL: D7, D8, E, G2, G38, K2
economic models
crises
institutions
policies
regulations
Piffano, Horacio Luis Pablo
The challenge of Edmund Phelps: Crises and economic models
topic_facet Ciencias Económicas
JEL: D7, D8, E, G2, G38, K2
economic models
crises
institutions
policies
regulations
description The paper attempts an explanation of the alleged "lack of adequate economic models" to predict and eventually avoid - through certain policy recommendations - the recurrent global or individual economic or financial and fiscal crises. In the author’s opinion, in the controversy over the "rational expectation approach” and the design of dynamic and stochastic models, have been neglected some important underlying issues in economic performance, such as the very crucial institutional enforcement basis on which economic agents operate, including particularly government agents. The Public Choice School and modern Institutional Economics can help to understand the limitations and possibilities faced when seeking to improve the economic theory in its status as “science”.
format Articulo
Documento de trabajo
author Piffano, Horacio Luis Pablo
author_facet Piffano, Horacio Luis Pablo
author_sort Piffano, Horacio Luis Pablo
title The challenge of Edmund Phelps: Crises and economic models
title_short The challenge of Edmund Phelps: Crises and economic models
title_full The challenge of Edmund Phelps: Crises and economic models
title_fullStr The challenge of Edmund Phelps: Crises and economic models
title_full_unstemmed The challenge of Edmund Phelps: Crises and economic models
title_sort challenge of edmund phelps: crises and economic models
publishDate 2012
url http://sedici.unlp.edu.ar/handle/10915/45902
http://www.depeco.econo.unlp.edu.ar/doctrab/doc94_eng.pdf
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