Amy who?
Time for a Nobel Prize in the field of Health Economics. Top choices Newhouse, Pauly, Grossman.Not unti Amy is old enough to get it.
Undegrad pollution detected.
Official Economics Nobel Prize 2017 Predictions thread
-
Card and Krueger
What's wrong with Card and Krueger? Do you think their contributions are insufficient or do you think that they don't have any? Is the issue with Card, Krueger or both?
Nahhh. Higher wages cause unemployment as shown by the Seattle data:
http://www.nber.org/papers/w23532.pdf
No nobel for silly empirical work. Wages as a giffen good?/???Being a giffen good has to do with individual demand and NOTHING with general equilibrium. Suppose you have two agents and a fixed supply of good X. They have preferences such that X is Giffen. Can you determine that X is Giffen only from aggregate data?
Almost nobody gets it. Microeconomists most of the time work in partial equilibrium. Macroeconomists usually don't have more than one agent