Economists in sentence

2720 examples of Economists in a sentence

Many economists argued that these clever models were flawed, because the punishment threat was not credible, particularly in the case of a systemic meltdown affecting a large part of the financial system.

Economists in DenialLONDON – Early last month, Andy Haldane, Chief Economist at the Bank of England, blamed “irrational behavior” for the failure of the BoE’s recent forecasting models.

What mainstream economists mean by rational behavior is not what you or I mean.

That is, to act rationally is to act in a manner consistent with economists’ models of rational behavior.

In their 2011 book Beyond Mechanical Markets, the economists Roman Frydman of New York University and Michael Goldberg of the University of New Hampshire argued powerfully that economists’ models should try to “incorporate psychological factors without presuming that market participants behave irrationally.”

He wanted an economics that would give full scope for judgment, enriched not only by mathematics and statistics, but also by ethics, philosophy, politics, and history – subjects dropped from contemporary economists’ training, leaving a mathematical and computational skeleton.

To offer meaningful descriptions of the world, economists, he often said, must be well educated.

The Public and Its ProblemsCHICAGO – On a recent visit to Europe, I found economists, journalists, and business people thoroughly frustrated with their politicians.

For a long time, economists had converged on the view that if central banks optimized policies for their domestic situation, coordination could offer little benefit.

And, for many economists, delegating economic policy to technocratic bodies in order to insulate them from the “folly of the masses” almost always is the preferred approach.

The Stanford economists Nicholas Bloom and David Price confirmed this finding, and argue that virtually the entire increase in income inequality in the US is rooted in the growing gap in average wages paid by firms.

This comes after years of declarations by prominent economists, including Berkeley’s Brad DeLong and former US Federal Reserve Chair Ben Bernanke, that helicopter money offers a way to overcome deflation (with which Japan has struggled for decades).

But we must first consider more broadly the challenges confronting economists and financial experts in today’s world – challenges that remain poorly understood, by contemporary economics’ critics and defenders alike.

Some of us argued that the government should use professionally designed auctions – an area where economists have expertise akin to engineers – instead of selling the asset for a pre-determined price.

But there are many fields where economists’ knowledge is highly imprecise and comes with significant provisos, which may not be fully understood.

This may be because decision-makers choose not to pay attention; but it may also be because economists themselves do not spell out the risks.

Economists and moralists have been united in believing that you should actually spend less than you earn – in order to “save” for the proverbial rainy day or for old age.

While many economists judge Germany’s strategy the worst and America’s the best, the Scandinavian strategy can be considered a second-best strategy.

Today, economists are similarly troubled by unwanted ghosts, as they ponder the reappearance of economic ills long thought buried and dead.

From Stephen Roach at Morgan Stanley to Paul Krugman at Princeton, to the Governors of the US Federal Reserve and the senior staff at the European Central Bank, to almost everyone in Japan, economists all over the world are worrying about deflation.

Their thoughts retrace the economic thinking of over fifty years ago, a time when economists concluded that the thing to do with deflation was to avoid it like the plague.

Let's hope that today's economists also learn the lessons of their unwanted ghosts.

Moving quickly allows the transformation to be guided mainly by the spontaneity of innovative market forces rather than by government planners or economists.

Yet many economists have advocated a slow and systematic pace because they believe the ordering of reforms toward a market economy makes an enormous difference to the long run success of the process.

At the end of 2000, at the height of the Internet stock boom and just before the 2001 crash, the economists James Glassman and Kevin Hassett published Dow 36,000 .

And most economists agree that the US has genuine trade grievances against China, including intellectual property theft, asymmetrical technology transfers, and non-tariff barriers, such as the requirement that foreign companies enter joint-venture agreements with domestic firms to access the Chinese market.

But most economists also agree that competitive tariffs are a risky way to address these grievances.

Many economists hesitate on precisely what lies ahead.

The 1944 Bretton Woods conference was marked by a clash between the United States and the United Kingdom, represented by the economists Harry Dexter White and John Maynard Keynes, respectively.

There, the government, whose statistical agency puts annual inflation at 10%, is punishing private-sector economists who release much higher estimates – typically around 25% – with heavy fines.

Related words