The property of economic policies that their merits are relatively insensitive to the exact specification of the underlying model of the economy
A field of economics that uses controlled experiments to test and estimate economic models.
Identification of the numerical values of the parameters in an economic model by various informed methods.
A comprehensive examination of the concept of circular flow of income in economics, detailing its meaning, mechanisms, and implications.
An overview of the closed economy, an economic model characterized by a lack of external trade and capital flows.
A model used to illustrate the fluctuations in the economy due to time lags in response between supply and price changes.
A comprehensive analysis of computable general equilibrium models and their application in economic theory.
The treatment of time in dynamic economic models as a continuous variable.
The difficulties that arise in mathematical models as the number of variables increases
The representation of time in a dynamic economic model as a discrete variable with specific time periods.
Definition and meaning of dynamic equilibrium in economics
Definition and meaning of dynamic stochastic general equilibrium (DSGE), a class of theoretical models used in macroeconomics.
The demonstration that an equilibrium exists for an economic model or a game.
An economic model where prices are fixed in the short run, allowing quantities to adjust faster than prices.
The existence of more than one solution to the equations describing the equilibrium of an economic model.
A firm's strategy to optimize profits in different locations under imperfect competition.
A comprehensive entry on the Trade Cycle, detailing its definition, historical context, and theoretical frameworks.
A comprehensive look at what constitutes a variable in economics, including different classifications and their roles in economic models
