“Positive economics is in principle independent of any particular ethical position or normative judgments.” (Friedman 1953) Discuss. Friedman was an advocate of sharp distinction between positive and […]
Using the UK as an example 1. Introduction There are two critical factors of macroeconomics and two significant determinants of economic progress of an economy, one […]
The Moral Hazard perspective on the financial crisis of 2008: An Explanation for How Moral Hazard lead to the default on the subprime mortgage, Lehman brothers […]
A Critical Discussion of the Relative Successes and Shortcomings of Dynamic Stochastic General Equilibrium Models From the late 20th Century, Dynamic Stochastic General Equilibrium (DSGE) models grew […]