「The welfare cost of business cycles is not the business cycle itself, but the fact that people are risk averse.」- 爱德华·普雷斯科特经典语录

The welfare cost of business cycles is not the business cycle itself, but the fact that people are risk averse.

爱德华·普雷斯科特

💡 解读：经济周期的福利成本并非周期本身，而在于人们是风险厌恶的。

👤 更多爱德华·普雷斯科特经典语录 9句

Policy rules are better than discretion because they avoid the time inconsistency problem.

爱德华·普雷斯科特

The key to understanding business cycles is to understand the nature of the shocks that hit the economy.

爱德华·普雷斯科特

The welfare cost of business cycles is not the cycles themselves but the inability of individuals to smooth consumption over time.

爱德华·普雷斯科特

Monetary policy can be destabilizing if it is not conducted in a time-consistent manner.

爱德华·普雷斯科特

The Great Depression was not a failure of markets but a failure of policy.

爱德华·普雷斯科特

Technology shocks are the primary source of economic fluctuations.

爱德华·普雷斯科特

Policy rules are superior to discretion because they eliminate the time inconsistency problem.

爱德华·普雷斯科特

The Great Depression was not a failure of capitalism but a failure of government policy.

爱德华·普雷斯科特

The key to understanding business cycles is to recognize that they are equilibrium responses to real shocks.

爱德华·普雷斯科特

李娟

但愿同入梦。

琼瑶

悲伤就是知识

拜伦

表面看起来糟糕的事，本质上却往往并非如此。

塞涅卡

我绝不坚信这个时代没有放之四海而皆准的正义和良善的价值观，它们不仅仅有，而且不是朝令夕改流动无常的，它们是稳定而永恒的。

亚历山大·索尔仁尼琴

我们根本没想到要怀疑或轻视“历史的启示”；历史就是我们的一切。

恩格斯

奇花与丽日争妍，翠竹共青天斗碧。

吴承恩

大家礼义教子弟，小家凶恶训儿郎。

周希陶

真理就是自由人的祖国。真理不存在于丑化了的现实里。生命的第一个行动就是创造的行动。在争论中是不分高贵卑鄙，也不管称号姓氏的，重要的只是真理，在它面前人人平等。

罗曼·罗兰

人人为我，我为人人。

列宁

40句相邻名言

Individuals do not act so as to maximize utilities described in independently-existing functions.

詹姆斯·布坎南

公共选择理论奠基人

The bureaucrat’s utility function includes the size of his budget as an argument.

詹姆斯·布坎南

公共选择理论奠基人

Constitutional constraints are the rules that allow us to live together in peace.

詹姆斯·布坎南

公共选择理论奠基人

The time inconsistency problem in monetary policy arises when policymakers have an incentive to deviate from their announced policy once economic agents have formed expectations.

芬恩·基德兰德

经济周期与货币理论研究的先驱

Business cycles are not merely fluctuations around a deterministic trend; they represent shifts in the trend itself.

芬恩·基德兰德

经济周期与货币理论研究的先驱

The key to understanding economic fluctuations lies in the interaction between technology shocks and the decisions of households and firms.

芬恩·基德兰德

经济周期与货币理论研究的先驱

Optimal fiscal policy requires that tax rates be smooth over time, responding only to permanent changes in government spending.

芬恩·基德兰德

经济周期与货币理论研究的先驱

The time inconsistency problem in monetary policy arises when policymakers have an incentive to deviate from their announced policy once economic agents have acted on it.

芬恩·基德兰德

经济周期与货币理论研究的先驱

Business cycles are not, as once thought, merely fluctuations around a stable trend, but rather reflect deeper structural changes in the economy.

芬恩·基德兰德

经济周期与货币理论研究的先驱

The key to understanding economic fluctuations lies in the interaction between technology shocks and the time it takes to build new capital.

芬恩·基德兰德

经济周期与货币理论研究的先驱

Optimal fiscal policy should be designed to mitigate the distortions caused by time inconsistency and political business cycles.

芬恩·基德兰德

经济周期与货币理论研究的先驱

Rules rather than discretion in economic policy can help avoid the pitfalls of short-term political pressures.

芬恩·基德兰德

经济周期与货币理论研究的先驱

Business cycles are not merely fluctuations around some smooth trend, but are instead the result of fundamental shocks to the economy.

芬恩·基德兰德

经济周期与货币理论研究的先驱

Optimal fiscal policy requires that taxes be smooth over time, as abrupt changes can distort economic decisions.

芬恩·基德兰德

经济周期与货币理论研究的先驱

Monetary policy rules should be designed to avoid the pitfalls of discretionary policy, which often leads to time inconsistency.

芬恩·基德兰德

经济周期与货币理论研究的先驱

The welfare cost of business cycles is not the cycles themselves but the inability of individuals to smooth consumption over time.

爱德华·普雷斯科特

经济周期与政策时间不一致性研究

Technology shocks are the primary source of economic fluctuations.

爱德华·普雷斯科特

经济周期与政策时间不一致性研究

The key to understanding business cycles is to recognize that they are equilibrium responses to real shocks.

爱德华·普雷斯科特

经济周期与政策时间不一致性研究

Monetary policy can be destabilizing if it is not conducted in a time-consistent manner.

爱德华·普雷斯科特

经济周期与政策时间不一致性研究

The Great Depression was not a failure of capitalism but a failure of government policy.

爱德华·普雷斯科特

经济周期与政策时间不一致性研究

The key to understanding business cycles is to understand the nature of the shocks that hit the economy.

爱德华·普雷斯科特

经济周期与政策时间不一致性研究

Policy rules are better than discretion because they avoid the time inconsistency problem.

爱德华·普雷斯科特

经济周期与政策时间不一致性研究

Policy rules are superior to discretion because they eliminate the time inconsistency problem.

爱德华·普雷斯科特

经济周期与政策时间不一致性研究

The Great Depression was not a failure of markets but a failure of policy.

爱德华·普雷斯科特

经济周期与政策时间不一致性研究

The public interest theory of regulation holds that regulation is supplied in response to the demand of the public for the correction of inefficient or inequitable market practices.

乔治·斯蒂格勒

市场结构与产业组织理论先驱

Competition is a tough weed, not a delicate flower.

乔治·斯蒂格勒

市场结构与产业组织理论先驱

The degree of market failure is not a sufficient condition for government intervention.

乔治·斯蒂格勒

市场结构与产业组织理论先驱

The scientist is not content to stop with the obvious.

乔治·斯蒂格勒

市场结构与产业组织理论先驱

The most important single central fact about a free market is that no exchange takes place unless both parties benefit.

乔治·斯蒂格勒

市场结构与产业组织理论先驱

The degree of market failure is never zero, but neither is the degree of government failure.

乔治·斯蒂格勒

市场结构与产业组织理论先驱

The point is that the effects of government spending depend on the state of the economy.

保罗·克鲁格曼

国际贸易与经济地理学权威

The point is that the effects of government policies that alter incentives—whether through taxes, subsidies, or regulation—are often very different from what the proponents of those policies claim.

保罗·克鲁格曼

国际贸易与经济地理学权威

If you want people to do something, make it easy.

理查德·塞勒

行为经济学奠基人之一

The key to nudge is to make the desired behavior more salient, easier, and more attractive.

理查德·塞勒

行为经济学奠基人之一

People are not dumb. The world is hard.

理查德·塞勒

行为经济学奠基人之一

The key to Nudge is to make the right choice the easy choice.

理查德·塞勒

行为经济学奠基人之一

Institutions are the rules of the game in a society or, more formally, are the humanly devised constraints that shape human interaction.

道格拉斯·诺斯

新制度经济学奠基人之一

The history of the economy is largely a story of institutional evolution.

道格拉斯·诺斯

新制度经济学奠基人之一

The incentives that shape the direction of economic activity are a function of the institutional framework.

道格拉斯·诺斯

新制度经济学奠基人之一

Economic growth occurs when the existing constraints are altered in such a way as to permit more efficient organization of economic activity.

道格拉斯·诺斯

新制度经济学奠基人之一

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