William Milberg (The Jerome Levy Economics Institute)
Abstract
There is a widespread belief that economic policy prescriptions, especially in international economics, are of grave importance for individual and national well being. Milberg contends, however, that there is little thought given to how such prescriptions follow from the theoretical models used to generate these conclusions. In fact, different models appear to be used: A formal theoretical model and a less formal one to reach policy conclusions. In this working paper, Milberg seeks to find out why this dichotomy occurred by analyzing the rhetoric contained in casual models, that is, those used to arrive at policy conclusions. He asserts that this rhetoric was not an accidental methodological discrepancy, but a necessary strategy for reaching policy conclusions.
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Paper provided by EconWPA in its series Macroeconomics with number
9904009.
Length: 38 pages Date of creation: 15 Apr 1999 Date of revision: Handle: RePEc:wpa:wuwpma:9904009
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References listed on IDEAS Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
Bagwell, Kyle & Staiger, Robert W, 1990.
"A Theory of Managed Trade,"
American Economic Review,
American Economic Association, vol. 80(4), pages 779-95, September.
[Downloadable!] (restricted)
Other versions:
Kyle Bagwell & Robert W. Staiger, 1989.
"A Theory of Managed Trade,"
Discussion Papers
801, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
[Downloadable!]