A model of the representative economist, as researcher and policy advisor

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Econ is the representative academic economist who behaves as predicted by economic theory. The paper considers an important parameter β. It assumes that economic theory predicts the sign on β, and that an empirical literature of M papers exists about β. Two cases are considered: (C1) Econ is in the academic career writing a paper with a new estimate of β. (C2) Econ is advising the Minister who is in charge of a policy using β. Economic theory gives a clear prediction in both cases: The size of β will be exaggerated in (C1) and even more in (C2).
OriginalsprogEngelsk
Artikelnummer1
TidsskriftEuropean Journal of Political Economy
Vol/bind2018
Tidsskriftsnummer54
Sider (fra-til)6-15
Antal sider10
ISSN0176-2680
DOI
StatusUdgivet - 2 okt. 2018

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