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Alban William Housego "A. W." "Bill" Phillips, MBE (18 November 1914 – 4 March 1975) [1] was a New Zealand economist who spent most of his academic career as a professor of economics at the London School of Economics (LSE). He invented the Phillips curve of economics in 1958. He also designed and built the MONIAC hydraulic economics computer ...
Cliometrics (/ ˌ k l aɪ. oʊ ə ˈ m ɛ t. r ɪ k s /, also / ˌ k l iː oʊ ˈ m ɛ t. r ɪ k s /), sometimes called 'new economic history' [1] or 'econometric history', [2] is the systematic application of economic theory, econometric techniques, and other formal or mathematical methods to the study of history (especially social and ...
Published at the same time, international trade, e-commerce, enterprise theory, property rights and contracts, urban economics, national economics, public economics, macroeconomics, and other fields of the latest research results, also shows it is widely used, and proves that the influence of inframarginal analysis to reduce labor cost and the ...
Dynamic stochastic general equilibrium modeling (abbreviated as DSGE, or DGE, or sometimes SDGE) is a macroeconomic method which is often employed by monetary and fiscal authorities for policy analysis, explaining historical time-series data, as well as future forecasting purposes. [1]
Phillips Machine in the Science Museum, London. The Phillips Machine, also known as the MONIAC (Monetary National Income Analogue Computer), Phillips Hydraulic Computer and the Financephalograph, is an analogue computer which uses fluidic logic to model the workings of an economy.
An economic theory that defines wealth by the amount of precious metals owned. [48] business cycle. Also called the economic cycle or trade cycle. The downward and upward movement of gross domestic product (GDP) around its long-term growth trend. [49] The length of a business cycle is the period of time containing a single boom and contraction ...
William Stanley Jevons FRS (/ ˈ dʒ ɛ v ən z /; [2] 1 September 1835 – 13 August 1882) was an English economist and logician.. Irving Fisher described Jevons's book A General Mathematical Theory of Political Economy (1862) as the start of the mathematical method in economics. [3]
The Market for 'Lemons': Quality Uncertainty and the Market Mechanism" [1] is a widely cited seminal paper in the field of economics which explores the concept of asymmetric information in markets. The paper was written in 1970 by George Akerlof and published in the Quarterly Journal of Economics. The paper's findings have since been applied to ...