Math & Statistics

“You are now leaving the world as you know it.”

The recent debate about the reproducibility of the results published by Carmen Reinhart and Kenneth Rogoff offers a showcase for the importance of replication in empirical economics.

This research project provides the mathematics for a second marginal revolution enabling the natural modeling of heterogeneous agents with unstable beliefs, fully dynamic preferences, and allowances for an increased level of self-inconsistency.

Has the servant’s servant become the master’s master?

How representation of data can contribute to, or dispel the false certainty of statistical and econometric technique.

This research project develops a monograph on divergent stochastic time series that permits the modeling of capital, inventory, and financial capital in economies.

This paper asks, how empirical evidence does or does not influence economic thinking and theory. In particular, which role do calibration, statistical inference, and structural change play?

Human economic interactions spontaneously express themselves in the quantitative form of prices and transactions quantities. Thismakes it difficult to avoid quantitative reasoning in political-economic research altogether

Modern economics can benefit significantly both from a radical reorientation at the level of method, as well as from a greater input from appropriate branches of philosophy.

This paper, which is prepared for the Inagural Conference of the Institute for New Economic Thinking in King’s College, Cambridge, 8-11 April 2010, questions the preeminence of theory over empirics in economics and argues that empirical econometrics needs to be given a more important and independent role in economic analysis, not only to have some confidence in the soundness of our empirical inferences, but to uncover empirical regularities that can serve as a basis for new economic thinking.