Models
in sentence
1964 examples of Models in a sentence
Nor was it clear which
models
provide the most reasonable account of the functioning of the economy, especially in a case where more or less heterogeneous countries were to form a monetary union.
Can
models
without an explicit, well developed financial sector be expected to explain an economic world in which financial markets play an ever-increasing role?
How could central banks, which depend on these financial markets to serve as the transmission mechanism of monetary policy, possibly rely on such
models?
One of the biggest challenges for many companies has been to convert insights from statistical
models
into real changes in day-to-day operations.
Its entrepreneurial class has pioneered business ventures, such as Inditex and Mercadona, whose
models
are case studies in the best business schools.
Most important, employees need role
models.
According to these projections – which are based on models, new data, and the judgment of the particular institution or forecaster – the United States, the United Kingdom, and Japan are contributing the most to the uptick in growth.
Protecting workers and consumers is critical, but shielding specific industries from the impact of new business
models
will not hold off the next wave of transformation.
The United States was confronting slowing growth and accelerating inflation, or stagflation, a novel problem that raised questions about policymakers’ competence and the adequacy of their economic
models.
Whether the changes are profoundly disruptive, or merely provide incremental improvements in products, services, or business models, the results boost an economy’s long-run productivity.
Likewise, the early strategic government intervention – including planning, subsidies, and state ownership – that has underpinned innovation-led growth
models
in Israel, South Korea, and Taiwan is simply not available in many countries.
So perhaps the problem with existing regulatory
models
lies in the assumption that the entire atmosphere is available for unconstrained use.
Larger and more powerful nations were envious of so a powerful spokesman, and his speeches became textbook
models
for statesmen and diplomats in distant lands.
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.
And, surely, academics are also to blame for the inertia, with many of them still defending elegant but deeply flawed
models
of perfect markets that create an illusion of safety for a system that is in fact highly risk-prone.
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.
But in the rarefied world of neoclassical forecasting models, it means that people, equipped with detailed knowledge of themselves, their surroundings, and the future they face, act optimally to achieve their goals.
That is, to act rationally is to act in a manner consistent with economists’
models
of rational behavior.
Central banks’ forecasting
models
essentially use the same logic.
Our
models
of quantifiable risk fail when faced with radical uncertainty.
This, then, is the problem – which Haldane glimpsed but could not admit – with the BoE’s forecasting
models.
The important things affecting economies take place outside the self-contained limits of economic
models.
The challenge is to develop macroeconomic
models
that can work in stormy conditions:
models
that incorporate radical uncertainty and therefore a high degree of unpredictability in human 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.”
But such efforts to incorporate radical uncertainty into economic models, valiant though they are, suffer from the impossible dream of taming ambiguity with math and (in Masch’s case) with computer science.
The erosion of business
models
and growing dependence on third-party digital distributors – like Facebook and Google – have handcuffed news organizations and cut deeply into their profits.
Despite the rise of private education in many low-income countries, investment opportunities in public-private
models
and private education remain limited.
The people running Ireland and Latvia were praised as role
models
just a short time before they became scapegoats.
And, once again, a broad spectrum of implementation
models
is emerging in different parts of the world.
Financial-market reform has fallen far short of securing the sector’s resilience, let alone driving investment in the technology, energy systems, infrastructure, and business
models
needed to develop a sustainable world economy.
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