James E Hartley
Biographic Data
| ID | 3960581 |
|---|---|
| NAME | James E Hartley |
| GIVEN NAMES | James E |
| FAMILY NAME | Hartley |
| SIGNATURE | HARTLEY J E |
| AFFILIATIONS | Mount Holyoke College |
| VERIFIED | No |
| TOTAL WORKS | 9 |
| TOTAL CITATIONS | 10 |
| AUTHOR COUNT | 9 |
| EDITOR COUNT | 0 |
| FIRST PUBLICATION YEAR | 1996 |
| LATEST PUBLICATION YEAR | 2014 |
| H-INDEX | 1 |
The Quest for Microfoundations
The Fairy Tale History of Macroeconomics is, like all such stories, a tale of triumph. Once upon a time, there were the Dark Days of Macroeconomics when Keynesian IS-LM curves roamed the land. Then came the Troubled Times when the Keynesian models floundered in the Great Stagflation of the 1970s. But, along came an intrepid set of warriors, bearing new and better models, sorting through the wreckage of the Great Destruction of the Keynesian model…
Kydland and Prescott's Nobel Prize: The methodology of time consistency and real business cycle models
Finn Kydland and Edward Prescott won the 2004 Nobel Prize in Economics for their work on time consistency and real business cycle models. What united the work in these two papers is the method of modeling the economy. In the mid-1970s, Kydland and Prescott set out to use optimal control theory in a rational expectations model, and ended up being credited with a sea change in the manner in which economists think about central banking. In the early…
Should American studies study itself
Sociology research at liberal arts colleges
Does the Solow Residual Actually Measure Changes in Technology
Real business cycle models purport to explain the business cycle as the result of technological change. This paper shows that the commonly used measure of technological change, the Solow residual, does not capture changes in the technology of the production function. The model used in this paper is within the framework of models described in Hansen & Sargent (1990, 1991). Technological change is modeled as a change in the value of one of the 'dee…
The Representative Agent in Macroeconomics
Retrospectives: The Origins of the Representative Agent
This paper examines Alfred Marshall's invention of the representative firm. Marshall first used the representative firm in order to describe an industry supply curve for an industry with heterogeneous firms. Despite Marshall's limited use of the notion, the representative agent was extensively criticized as an ephemeral, useless construct that was unable to account for economic growth and that ignored important heterogeneities. The criticisms suc…
Scholars and Mentors: Research in Psychology and the Production of Ph.D.S
For the 161 national liberal arts colleges, there is a positive correlation between number of research publications in psychology and number of students going on to earn Ph.D.s in psychology
Reform During Crisis: The Transformation of California's Fiscal System During the Great Depression
In the midst of the Great Depression, California engaged in a massive restructuring of its tax system, reducing reliance on the property tax and introducing sales and income taxes. Our analysis suggests that this restructuring, which included a voter referendum, was primarily driven by a desire to change the mix rather than the level of taxation. Nonetheless, by introducing new taxes that had a higher revenue elasticity than the existing taxes, C…
Sociology research at liberal arts colleges
The Quest for Microfoundations
The Fairy Tale History of Macroeconomics is, like all such stories, a tale of triumph. Once upon a time, there were the Dark Days of Macroeconomics when Keynesian IS-LM curves roamed the land. Then came the Troubled Times when the Keynesian models floundered in the Great Stagflation of the 1970s. But, along came an intrepid set of warriors, bearing new and better models, sorting through the wreckage of the Great Destruction of the Keynesian model…
Kydland and Prescott's Nobel Prize: The methodology of time consistency and real business cycle models
Finn Kydland and Edward Prescott won the 2004 Nobel Prize in Economics for their work on time consistency and real business cycle models. What united the work in these two papers is the method of modeling the economy. In the mid-1970s, Kydland and Prescott set out to use optimal control theory in a rational expectations model, and ended up being credited with a sea change in the manner in which economists think about central banking. In the early…
Does the Solow Residual Actually Measure Changes in Technology
Real business cycle models purport to explain the business cycle as the result of technological change. This paper shows that the commonly used measure of technological change, the Solow residual, does not capture changes in the technology of the production function. The model used in this paper is within the framework of models described in Hansen & Sargent (1990, 1991). Technological change is modeled as a change in the value of one of the 'dee…
Reform During Crisis: The Transformation of California's Fiscal System During the Great Depression
In the midst of the Great Depression, California engaged in a massive restructuring of its tax system, reducing reliance on the property tax and introducing sales and income taxes. Our analysis suggests that this restructuring, which included a voter referendum, was primarily driven by a desire to change the mix rather than the level of taxation. Nonetheless, by introducing new taxes that had a higher revenue elasticity than the existing taxes, C…
Retrospectives: The Origins of the Representative Agent
This paper examines Alfred Marshall's invention of the representative firm. Marshall first used the representative firm in order to describe an industry supply curve for an industry with heterogeneous firms. Despite Marshall's limited use of the notion, the representative agent was extensively criticized as an ephemeral, useless construct that was unable to account for economic growth and that ignored important heterogeneities. The criticisms suc…
Scholars and Mentors: Research in Psychology and the Production of Ph.D.S
For the 161 national liberal arts colleges, there is a positive correlation between number of research publications in psychology and number of students going on to earn Ph.D.s in psychology
Reform During Crisis: The Transformation of California's Fiscal System During the Great Depression
In the midst of the Great Depression, California engaged in a massive restructuring of its tax system, reducing reliance on the property tax and introducing sales and income taxes. Our analysis suggests that this restructuring, which included a voter referendum, was primarily driven by a desire to change the mix rather than the level of taxation. Nonetheless, by introducing new taxes that had a higher revenue elasticity than the existing taxes, C…
The Representative Agent in Macroeconomics
Does the Solow Residual Actually Measure Changes in Technology
Real business cycle models purport to explain the business cycle as the result of technological change. This paper shows that the commonly used measure of technological change, the Solow residual, does not capture changes in the technology of the production function. The model used in this paper is within the framework of models described in Hansen & Sargent (1990, 1991). Technological change is modeled as a change in the value of one of the 'dee…
Sociology research at liberal arts colleges
Should American studies study itself
Kydland and Prescott's Nobel Prize: The methodology of time consistency and real business cycle models
Finn Kydland and Edward Prescott won the 2004 Nobel Prize in Economics for their work on time consistency and real business cycle models. What united the work in these two papers is the method of modeling the economy. In the mid-1970s, Kydland and Prescott set out to use optimal control theory in a rational expectations model, and ended up being credited with a sea change in the manner in which economists think about central banking. In the early…
The Quest for Microfoundations
The Fairy Tale History of Macroeconomics is, like all such stories, a tale of triumph. Once upon a time, there were the Dark Days of Macroeconomics when Keynesian IS-LM curves roamed the land. Then came the Troubled Times when the Keynesian models floundered in the Great Stagflation of the 1970s. But, along came an intrepid set of warriors, bearing new and better models, sorting through the wreckage of the Great Destruction of the Keynesian model…
Economics (6 works) · Macroeconomics (5 works) · Computer Science (3 works) · Economic Theory and Policy (3 works) · Keynesian economics (3 works) · Political science (3 works) · Business cycle (2 works) · Economic Theory and Institutions (2 works) · Engineering (2 works) · Finance (2 works)