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Transformation problem: The transformation problem is the problem specific to Marxist economics, and not to economics in general, of finding a general rule by which to transform the values of commodities based on socially necessary labour time into the competitive prices of the marketplace. The essential difficulty is how to reconcile profit in ...
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Research Papers in Economics (RePEc) is a collaborative effort of hundreds of volunteers in many countries to enhance the dissemination of research in economics. The heart of the project is a decentralized database of working papers , preprints , journal articles, and software components. [ 1 ]
According to the Journal Citation Reports, the journal has a 2015 impact factor of 6.662, ranking it first out of 347 journals in the category "Economics". [2] It is generally regarded as one of the top 5 journals in economics, together with the American Economic Review, Econometrica, the Journal of Political Economy, and The Review of Economic Studies.
Description: Explores the "specific differentia of medical care as the object of normative economics", demonstrating that the consideration of uncertainty is key to understanding markets in health care. Importance: Generally considered a seminal work of enduring significance; key to the foundation of health economics as a field of study.
In 1977 Edmund Phelps (1933–) (who was awarded the 2006 Nobel Economics Prize) and John B. Taylor (1946–) published a paper proving that staggered setting of wages and prices gives monetary policy a role in stabilizing economic fluctuations if the wages/prices are sticky, even when all workers and firms have rational expectations, which ...
The members of the 2007 Economics Prize Committee are still dominated by economists, as the secretary and four of the five members are professors of economics. [ 37 ] In 1978, Herbert A. Simon , whose PhD was in political science , became the first non-economist to win the prize, [ 38 ] for his work in the fields of economics and organizational ...
Good Economics for Hard Times: Better Answers to Our Biggest Problems is a 2019 nonfiction book by Abhijit V. Banerjee and Esther Duflo, both professors of economics at MIT. It was published on November 12, 2019 by PublicAffairs (US), Juggernaut Books (India), and Allen Lane (UK).