Economists develop economic models to explain consistently recurring relationships. Their models link one or more economic variables to other economic variables. For example, economists connect the ...

Spatial econometrics addresses the challenges posed by spatially correlated data, enabling researchers to understand and quantify how economic phenomena in one location can influence those in ...

Discover how the Nordic model blends capitalism and social welfare, compared to the U.S. system, with insights on taxation, social services, and economic efficiency.

Lawrence Klein, the University of Pennsylvania economist who won the 1980 Nobel Prize for his computer-based models that help governments forecast the future and act accordingly, died Sunday at his ...

This is a preview. Log in through your library . Abstract In this paper four alternative quarterly econometric models of investment behavior are fitted to a common set of data for individual ...

This article appears in the April 2023 issue of The American Prospect magazine. Subscribe here. Economics is commonly described as the science of scarcity. We have limited resources, and we have to ...

The problem of price stabilization of primary commodities is dealt with here in the context of one commodity--tin. An attempt has been made to construct and estimate an econometric model with main ...

We are living at a time when large language models increasingly make choices once reserved for people. From writing emails to guiding business decisions, these systems shape daily life. That shift has ...

Economists develop economic models to explain consistently recurring relationships. Their models link one or more economic variables to other economic variables (see “Economic Models,” p. 8). For ...