Economists develop economic models to explain consistently recurring relationships. Their models link one or more economic variables to other economic variables (see “Economic Models,” p. 8). For ...

Procyclic is a condition where the behavior and actions of a measurable product or service move in tandem with the cyclical state of the economy.

Description: Current economic issues, problems, and research methods. Designed to explore in depth an economic issue currently before the public or to examine a particular aspect of the methodology of ...

This paper presents the problem of aggregation over individual agents as a basic identification problem inherent to interpreting relationships between averaged economic variables. The concept of a ...