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Tuesday, July 14, 2020 | History

2 edition of In search of a stylised fact found in the catalog.

In search of a stylised fact

Andrea Brandolini

In search of a stylised fact

do real wages exhibit a consistent pattern of cyclical variability?.

by Andrea Brandolini

  • 84 Want to read
  • 35 Currently reading

Published by Centre for Economic Performance in London .
Written in English


Edition Notes

SeriesDiscussion paper / Centre for Economic Performance -- no. 112, Discussion paper (Centre for Economic Performance) -- no. 112.
ID Numbers
Open LibraryOL13806096M

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In search of a stylised fact by Andrea Brandolini Download PDF EPUB FB2

The term “stylised facts” was introduced by the economist Nicholas Kaldor in the context of a debate on economic growth theory inexpanding on model assumptions made in a paper.

Criticizing the neoclassical models of economic growth of his time, Kaldor argues that theory construction should begin with a summary of the relevant facts. Stylized Fact. BIBLIOGRAPHY. The original idea of a stylized fact was introduced by Nicholas Kaldor ( – ) and applied to macroeconomic growth theory.

Beyond the original application, the idea of a stylized fact is used throughout economics and the social sciences (and also in other scientific disciplines) as a simplifying abstraction of some social or economic process or fact.

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Economists use the term ‘stylized fact’ in many contexts, though the meaning of this phrase and the motivation for using such a concept is unclear. In this paper, we provide a philosophical analysis of stylized facts, which aims to be methodologically interesting and useful.

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