Spatial econometrics addresses the challenges posed by spatially correlated data, enabling researchers to understand and quantify how economic phenomena in one location can influence those in ...

Ultimately, I believe AI advantage will be defined by how intelligently organizations allocate tokens, compute and energy.

Conventional tests for composite hypotheses in minimum distance models can be unreliable when the relationship between the structural and reduced-form parameters is highly nonlinear. Such nonlinearity ...

ECONOMISTS develop economic models to explain consistently recurring relationships. Their models link one or more economic variables to other economic variables (see “What Are Economic Models,” F&D, ...

HANK models impart new lessons about redistribution and the heterogeneous effects of monetary policy and shed new light on traditional central bank objectives of inflation control and output ...

Eureka moments are rare in all fields, not least in economics.1 One such moment came to me when I was an undergraduate at the London School of Economics in the 1960s. I was talking to a friend who was ...

Lawrence Klein, the University of Pennsylvania economist who won the 1980 Nobel Prize for his computer-based models that help governments forecast the future and act accordingly, died Sunday at his ...