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American Economic Journal
The ''American Economic Journal'' is a group of four peer-reviewed academic journals published by the American Economic Association. The names of the individual journals consist of the prefix ''American Economic Journal'' with a descriptor of the field attached. The four field journals which started in 2009 are ''Applied Economics'', ''Economic Policy'', ''Macroeconomics'', and ''Microeconomics''. History The American Economic Association set up an ad hoc Committee on Journals chaired by Robert Hall which in April 2006, after a three-year study of the subject, recommended that the American Economic Association (AEA) start four new field journals. One of the reasons given was that almost all other academic societies publish more than three journals, and that by adding more journals, the diversity of editors would be increased. Other reasons included the elevated pricing of field journals in economics, most of which are published by Elsevier, and the inability of ''The American Ec ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economics
Economics () is the social science that studies the Production (economics), production, distribution (economics), distribution, and Consumption (economics), consumption of goods and services. Economics focuses on the behaviour and interactions of Agent (economics), economic agents and how economy, economies work. Microeconomics analyzes what's viewed as basic elements in the economy, including individual agents and market (economics), markets, their interactions, and the outcomes of interactions. Individual agents may include, for example, households, firms, buyers, and sellers. Macroeconomics analyzes the economy as a system where production, consumption, saving, and investment interact, and factors affecting it: employment of the resources of labour, capital, and land, currency inflation, economic growth, and public policies that have impact on glossary of economics, these elements. Other broad distinctions within economics include those between positive economics, desc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Political Economy
Political economy is the study of how Macroeconomics, economic systems (e.g. Marketplace, markets and Economy, national economies) and Politics, political systems (e.g. law, Institution, institutions, government) are linked. Widely studied phenomena within the discipline are systems such as Market economy, labour markets and Financial market, financial markets, as well as phenomena such as Economic growth, growth, Distribution of wealth, distribution, Economic inequality, inequality, and International trade, trade, and how these are shaped by institutions, laws, and government policy. Originating in the 16th century, it is the precursor to the modern discipline of economics. Political economy in its modern form is considered an interdisciplinary field, drawing on theory from both political science and Neoclassical economics, modern economics. Political economy originated within 16th century western Ethics, moral philosophy, with theoretical works exploring the administration ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Microeconomics
Microeconomics is a branch of mainstream economics that studies the behavior of individuals and firms in making decisions regarding the allocation of scarce resources and the interactions among these individuals and firms. Microeconomics focuses on the study of individual markets, sectors, or industries as opposed to the national economy as whole, which is studied in macroeconomics. One goal of microeconomics is to analyze the market mechanisms that establish relative prices among goods and services and allocate limited resources among alternative uses. Microeconomics shows conditions under which free markets lead to desirable allocations. It also analyzes market failure, where markets fail to produce efficient results. While microeconomics focuses on firms and individuals, macroeconomics focuses on the sum total of economic activity, dealing with the issues of growth, inflation, and unemployment and with national policies relating to these issues. Microeconomics also deal ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Steven Davis (economist)
Steven J. Davis is an American economist. He is currently the William H. Abbott Distinguished Service Professor Of International Business and Economics at the University of Chicago Booth School of Business and a Senior Fellow at the Hoover Institution. Davis is known for developing and studying longitudinal firm-level microdata and economic uncertainty. As of April 2020, Davis is ranked 33rd by the Research Papers in Economics in terms of the number of citations in the last 10 years discounted by citation age. Education Davis graduated from Central Catholic High School in Portland Oregon. He received a Bachelor of Arts in economics from Portland State University in 1980. Davis completed his gradate and doctoral work at Brown University earning an A.M. in 1981 and a Ph.D. in 1986. After receiving his doctorate, Davis began teaching at the University of Chicago Booth School of Business. Work Job creation and destruction Davis is known for his work using firm-level longitudin ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Subprime Mortgage Crisis
The United States subprime mortgage crisis was a multinational financial crisis that occurred between 2007 and 2010 that contributed to the Financial crisis of 2007–2008, 2007–2008 global financial crisis. It was triggered by a large decline in US home prices after the collapse of a 2000s United States housing bubble, housing bubble, leading to Mortgage loan, mortgage delinquencies, foreclosures, and the devaluation of Mortgage-backed security, housing-related securities. Declines in residential investment preceded the Great Recession and were followed by reductions in household spending and then business investment. Spending reductions were more significant in areas with a combination of high household debt and larger housing price declines. The housing bubble preceding the crisis was financed with Mortgage-backed security, mortgage-backed securities (MBSes) and collateralized debt obligations (CDOs), which initially offered higher interest rates (i.e. better returns) than go ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
International Monetary Fund
The International Monetary Fund (IMF) is a major financial agency of the United Nations, and an international financial institution, headquartered in Washington, D.C., consisting of 190 countries. Its stated mission is "working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world." Formed in 1944, started on 27 December 1945, at the Bretton Woods Conference primarily by the ideas of Harry Dexter White and John Maynard Keynes, it came into formal existence in 1945 with 29 member countries and the goal of reconstructing the international monetary system. It now plays a central role in the management of balance of payments difficulties and international financial crises. Countries contribute funds to a pool through a quota system from which countries experiencing balance of payments problems can borrow money. , the fund had XDR 477 billion (a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Olivier Blanchard
Olivier Jean Blanchard (; born December 27, 1948) is a French economist and professor who is a senior fellow at the Peterson Institute for International Economics. He was the chief economist at the International Monetary Fund from September 1, 2008, to September 8, 2015. Blanchard was appointed to the position under the tenure of Dominique Strauss-Kahn; he was succeeded by Maurice Obstfeld. He is also a Robert M. Solow Professor of Economics emeritus at the Massachusetts Institute of Technology (MIT). According to IDEAS/RePEc, he is one of the most cited economists in the world. Career Blanchard graduated from ESCP in 1970. From 1970 to 1973, he completed graduate level courses in economics and applied mathematics at Paris Dauphine University and Paris Nanterre University. He obtained a PhD in economics from MIT in 1977 and then taught at Harvard University between 1977 and 1983, after which time he returned to MIT as a professor. His areas of expertise in macroeconomics are t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Alan Auerbach
Alan J. Auerbach (born in 1951) is an American economist. He is currently the director of the Robert D. Burch Center for Tax Policy and Public Finance at the University of California, Berkeley. He received his undergraduate degree in economics and mathematics from Yale University and earned his Ph.D. in economics at Harvard University and was an assistant and then an associate professor at Harvard. He was then a professor of law and economics at the University of Pennsylvania. Auerbach is a fellow of the American Academy of Arts and Sciences and of the Econometric Society. He was the Deputy Chief of Staff of the U.S. Joint Committee on Taxation in 1992. He is the author of many articles, books, and reviews. He is the past, or present, editor of six journals including the ''Journal of Economic Literature'', '' American Economic Review'', '' National Tax Journal'', and ''International Tax and Public Finance''. Selected books * (1987) "''Handbook of Public Economics''". Elsevier ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Environmental Economics
Environmental economics is a sub-field of economics concerned with environmental issues. It has become a widely studied subject due to growing environmental concerns in the twenty-first century. Environmental economics "undertakes theoretical or empirical studies of the economic effects of national or local environmental policies around the world. ... Particular issues include the costs and benefits of alternative environmental policies to deal with air pollution, water quality, toxic substances, solid waste, and global warming." Environmental economics is distinguished from ecological economics in that ecological economics emphasizes the economy as a subsystem of the ecosystem with its focus upon preserving natural capital. One survey of German economists found that ecological and environmental economics are different schools of economic thought, with ecological economists emphasizing "strong" sustainability and rejecting the proposition that human-made ("physical") capital ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Regulatory Economics
Regulatory economics is the economics of regulation. It is the application of law by government or regulatory agencies for various purposes, including remedying market failure, protecting the environment and economic management. Regulation Regulation is generally defined as legislation imposed by a government on individuals and private sector firms in order to regulate and modify economic behaviors. Conflict can occur between public services and commercial procedures (e.g. maximizing profit), the interests of the people using these services (see market failure), and also the interests of those not directly involved in transactions (externalities). Most governments, therefore, have some form of control or regulation to manage these possible conflicts. The ideal goal of economic regulation is to ensure the delivery of a safe and appropriate service, while not discouraging the effective functioning and development of businesses. For example, in most countries, regulation controls ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Law And Economics
Law and economics, or economic analysis of law, is the application of microeconomic theory to the analysis of law, which emerged primarily from scholars of the Chicago school of economics. Economic concepts are used to explain the effects of laws, to assess which legal rules are economically efficient, and to predict which legal rules will be promulgated. There are two major branches of law and economics; one based on the application of the methods and theories of neoclassical economics to the positive and normative analysis of the law, and a second branch which focuses on an institutional analysis of law and legal institutions, with a broader focus on economic, political, and social outcomes, and overlapping with analyses of the institutions of politics and governance. History Origin The historical antecedents of law and economics can be traced back to the classical economists, who are credited with the foundations of modern economic thought. As early as the 18th century, Adam ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Urban Economics
Urban economics is broadly the economic study of urban areas; as such, it involves using the tools of economics to analyze urban issues such as crime, education, public transit, housing, and local government finance. More specifically, it is a branch of microeconomics that studies urban spatial structure and the location of households and firms . Much urban economic analysis relies on a particular model of urban spatial structure, the monocentric city model pioneered in the 1960s by William Alonso, Richard Muth, and Edwin Mills. While most other forms of neoclassical economics do not account for spatial relationships between individuals and organizations, urban economics focuses on these spatial relationships to understand the economic motivations underlying the formation, functioning, and development of cities. Since its formulation in 1964, Alonso's monocentric city model of a disc-shaped Central Business District (CBD) and the surrounding residential region has served as a st ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
