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1500 questions
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votes
1 answer
Piketty's Return on Capital
How exactly does Piketty et al's method (as in his book) for computing the interest rate over time and countries work?
I know that they use reported tax returns, and that some criticize them for also using increase in housing values even if…
FooBar
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2 answers
Aggregation of the closure property of a production set
Consider an economy with finitely many goods $I$ and factors $F$. For each good $i$, let $Y_i \subset \mathbb R^I \times \mathbb R^F_{\geq 0}$ denote a production set for $i$. Assume each $Y_i$ has constant returns to scale and for all $(y,l)\in…
John Sturm
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9
votes
2 answers
The Savage sure thing principle and Subjective utility representation
I have tried reading and understanding Savage's proof of the subjective utility representation, it is too complicated. Is anyone aware of a shorter/more elegant proof of this?
It is not a problem if we assume a finite prices set.
The original is in…
user157623
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5 answers
What kind of economic freeware exists for economics students?
Can anyone recommend some free software for students studying economics for use in senior projects, theses, or dissertations?
luna_moth
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3 answers
Why is the rouble collapsing?
What are the reasons why the rouble (RUB) is collapsing? Which one is the main one?
Danil Gholtsman
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9
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1 answer
How was the year 1925 chosen as a dividing point in the history of economic thought?
The JEL codes divide "History of Economic Thought" into "through 1925" and "since 1925".
What is the significance of the year 1925 in the history of economic thought? Or was this just some cutoff point that was quite arbitrarily chosen?
user23102
9
votes
10 answers
Why don't profitable firms use previous profits to offset current loss
It is being reported that EasyJet expects a heavy loss in the current year due to Covid-19 pandemic. The report states that
The airline said it expected to sink into a pre-tax loss of between
£815m and £845m in the current financial year, which is…
RedBaron
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9
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3 answers
Would a fair distribution of wealth from the super rich increase the purchasing power/life quality of the average person?
I will start by saying that I do not have any background in finance and that the following question might be very much naive, but it has been bugging me for a while now. The general narrative seems to be that redistribution of wealth from the super…
Mark
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9
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2 answers
Why not talk about utility functions on the surreal line when preferences are lexicographic, etc?
I've been reading about the surreal numbers out of curiosity. Though I don't totally understand them, I wonder why I don't see them used more often. Surreal numbers extend the real line to also include infinitesimal and infinite numbers (transfinite…
Pburg
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4 answers
Mortgage loans from foreign banks at lower interest rates
I had a thought - what if I live in a relatively poor country like let's say Russia and I would like to buy a house. In order to do that, I need to take a mortgage loan. In Russia however, interest rates are pretty high, lets say the best offer from…
Orsinus
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9
votes
2 answers
R or Python for private sector economist/strategist
Quick question (but complex answer) : R or Python ?
I work as an economist/Strategist in the finance industry. As I do a lot of presentations, notes-writing, data searching, my programming time is limited but we try to develop “small scale” models…
user2952666
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9
votes
1 answer
What did "18/9", "25/", and "30/" mean in this 1800 British document?
In "The Petition of the Master Taylors of London and its Vicinity, December 1800" (reproduced in Galton, 1896), it is stated
the wages and allowances ... were accordingly settled at the rate of 18/9 per week ...
the wages the journeymen now receive…
user23101
9
votes
2 answers
Statistical models which represent the impact of strict measures vs no strict measures (and less economic impact), enforced due to Covid-19
I have been wondering whether there are statistical models like this one, (which estimated the deaths caused by the virus itself) that estimate the deaths caused by the economic turndown. There is an estimate of how much the pandemic would cost the…
user
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9
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3 answers
Economics Online Seminars
As education moves to the internet, so are research seminars. Some of these seminars are regular and others appear to be temporary due to the covid-19 and the lockdown.
Here are some examples from the American Economic Association
Regular…
emeryville
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9
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5 answers
What is the evidence that econometrics has empirical value?
Economies are extremely complex systems with many variables, not to mention the fact that they emerge from the interactions of complex beings. I agree that economies have certain underlying principles, but I remain skeptical of the overall value of…
Gregory Higley
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