Comparative Statics involves the analysis of how equilibrium positions in economic models change with variations in exogenous parameters, helping economists understand the effects of policy changes, shifts in preferences, and external shocks.
A comprehensive look at Computable General Equilibrium Models, which are used to analyze the economy-wide effects of policy changes by solving all equations analytically or numerically.
A comprehensive exploration of distributional weight, its historical context, types, key concepts, applications, and relevance in the evaluation of social welfare.
An in-depth examination of Dynamic Stochastic General Equilibrium (DSGE) models, including their historical context, key components, mathematical formulations, and applications in macroeconomic policy analysis and forecasting.
Positive economics focuses on describing and explaining economic phenomena, making predictions without value judgements. It contrasts with normative economics, which prescribes policies based on subjective criteria.
A comprehensive exploration of Regression Kink Design, a method of estimation designed to find causal effects when policy variables have discontinuities in their first derivative. Explore historical context, key events, formulas, diagrams, applications, and more.
A scenario is a set of assumptions on policy choices and the values of exogenous variables used to predict future developments in an economy. By varying these assumptions, alternative scenarios can be created to evaluate the effects of different policies and the robustness of conclusions to alternative values of exogenous variables.
Social Cost-Benefit Analysis (SCBA) is a comprehensive method used to evaluate the overall impact of policies, projects, or decisions on social welfare by considering both the positive and negative effects on society.
In economics, a tax wedge refers to the difference between what consumers pay and what producers receive due to taxation, which can inhibit certain economic outcomes.
