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1. Abramovitz, Moses (1912–2000)

Born in Brooklyn, New York, Abramovitz was educated at Harvard (AB, 1932) and Columbia (Ph.D., 1939). He held faculty appointments at Columbia (1940–2, ...

By Richard A. Easterlin. From The New Palgrave Dictionary of Economics, Second Edition, 2008

2. absolute and exchangeable value

The notion of absolute (as distinct from exchangeable or relative) value arises in classical economics from the image of a given magnitude of output being ...

By John Eatwell. From The New Palgrave Dictionary of Economics, Second Edition, 2008

3. absorption approach to the balance of payments

The absorption approach to the balance of payments states that a country's balance of trade will only improve if the country's output of goods and services ...

By David Vines. From The New Palgrave Dictionary of Economics, Second Edition, 2008

4. acceleration principle

The acceleration principle holds that the demand for capital goods is a derived demand and that changes in the demand for output lead to changes in the ...

By P.N. Junankar. From The New Palgrave Dictionary of Economics, Second Edition, 2008

5. access to land and development

Access to land can be an effective policy instrument for poverty reduction. This article shows how different types of property rights can affect access ...

By Alain de Janvry and Elisabeth Sadoulet. From The New Palgrave Dictionary of Economics, Second Edition, 2008

6. accounting and economics

Accounting provides an important source of economic measures, yet consistently falls short of the economist's conceptual ideal. This shortfall is fodder ...

By Joel S. Demski. From The New Palgrave Dictionary of Economics, Second Edition, 2008

7. adaptive estimation

Adaptive estimation arises in the context of partially specified models. Partially specified models occur with some frequency in econometrics. For example, ...

By Douglas G. Steigerwald. From The New Palgrave Dictionary of Economics, Second Edition, 2008

8. adaptive expectations

The adaptive expectations hypothesis may be stated most succinctly in the form of the equation:Etxt+1=∑i=0∞λ(1-λ)ixt-i;0<λ<1 where E denotes an ...

By Michael Parkin. From The New Palgrave Dictionary of Economics, Second Edition, 2008

9. addiction

Research on addiction had already yielded a wide range of interesting and important findings when economists first arrived on the scene. The economic ...

By George Loewenstein and Scott Rick. From The New Palgrave Dictionary of Economics, Second Edition, 2008

10. adjustment costs

This article surveys the use of adjustment frictions in macroeconomic research, exploring the consequences of convex and non-convex adjustment costs for ...

By Aubhik Khan and Julia K. Thomas. From The New Palgrave Dictionary of Economics, Second Edition, 2008