[Selections by Humberto Barreto for SHOE list.]
nep-hpe <http://nep.repec.org/nep-hpe.html> New Economics Papers
<http://nep.repec.org/> on History and Philosophy of Economics
Issue of 2022‒10‒10
papers chosen by
Erik Thomson <http://econpapers.repec.org/RAS/pth72.htm>
University of Manitoba <http://umanitoba.ca/>
------------------------------
1. Jan Tinbergen and J. G. Koopmans on Multiple Equilibria and
Coordination Failures
<https://mail.google.com/mail/u/0/#m_423019696018129908_p1> By Michaël
Assous
<http://econpapers.repec.org/scripts/search.pf?aus=Micha%C3%ABl%20Assous>
; Vincent Carret
<http://econpapers.repec.org/scripts/search.pf?aus=Vincent%20Carret>
2. Peter Howitt – a Keynesian Still in Recovery
<https://mail.google.com/mail/u/0/#m_423019696018129908_p2> By David
Laidler
<http://econpapers.repec.org/scripts/search.pf?aus=David%20Laidler>
3. Classicals versus Keynesians: Fifty Distinctions between Two Major
Schools of Economic Thought
<https://mail.google.com/mail/u/0/#m_423019696018129908_p3> By Seyyed
Ali Zeytoon Nejad Moosavian
<http://econpapers.repec.org/scripts/search.pf?aus=Seyyed%20Ali%20Zeytoon%20Nejad%20Moosavian>
4. PARETO ON CLASSICAL POLITICAL ECONOMY: ‘PER LA VERITÀ’
<https://mail.google.com/mail/u/0/#m_423019696018129908_p4> By Michael
McLure
<http://econpapers.repec.org/scripts/search.pf?aus=Michael%20McLure>
5. What analytical framework for Sovereign Money? Some insight from the
100% Money literature, and a comment on criticisms
<https://mail.google.com/mail/u/0/#m_423019696018129908_p5> By Samuel
Demeulemeester
<http://econpapers.repec.org/scripts/search.pf?aus=Samuel%20Demeulemeester>
6. Network effects or rent extraction? Evidence from editorial board
rotation. <https://mail.google.com/mail/u/0/#m_423019696018129908_p6>
By Lorenzo
Ductor
<http://econpapers.repec.org/scripts/search.pf?aus=Lorenzo%20Ductor>; Bauke
Visser <http://econpapers.repec.org/scripts/search.pf?aus=Bauke%20Visser>
7. Teaching Economics and Ethics
<https://mail.google.com/mail/u/0/#m_423019696018129908_p7> By Davis,
John B.
<http://econpapers.repec.org/scripts/search.pf?aus=Davis,%20John%20B.>
8. Development and Interdisciplinarity: re-examining the 'economics silo'
<https://mail.google.com/mail/u/0/#m_423019696018129908_p8> By Matthias
Aistleitner
<http://econpapers.repec.org/scripts/search.pf?aus=Matthias%20Aistleitner>
9. The Agenda for Evolutionary Economics: Results, Dead Ends, and
Challenges Ahead.
<https://mail.google.com/mail/u/0/#m_423019696018129908_p9> By Giovanni
Dosi <http://econpapers.repec.org/scripts/search.pf?aus=Giovanni%20Dosi>
10. L'imprévisibilité relative des forces économiques mondiales Une
analyse du « futur du capitalisme » de Lester Thurow (1996)
<https://mail.google.com/mail/u/0/#m_423019696018129908_p10> By Jacques
Fontanel
<http://econpapers.repec.org/scripts/search.pf?aus=Jacques%20Fontanel>
11. Towards extracting collective economic narratives from texts
<https://mail.google.com/mail/u/0/#m_423019696018129908_p11> By Lange,
Kai-Robin
<http://econpapers.repec.org/scripts/search.pf?aus=Lange,%20Kai-Robin>;
Reccius,
Matthias
<http://econpapers.repec.org/scripts/search.pf?aus=Reccius,%20Matthias>;
Schmidt,
Tobias
<http://econpapers.repec.org/scripts/search.pf?aus=Schmidt,%20Tobias>;
Müller,
Henrik
<http://econpapers.repec.org/scripts/search.pf?aus=M%C3%BCller,%20Henrik>
; Roos, Michael W. M.
<http://econpapers.repec.org/scripts/search.pf?aus=Roos,%20Michael%20W.%20M.>
; Jentsch, Carsten
<http://econpapers.repec.org/scripts/search.pf?aus=Jentsch,%20Carsten>
------------------------------
1. Jan Tinbergen and J. G. Koopmans on Multiple Equilibria and
Coordination Failures
<http://econpapers.repec.org/RePEc:hal:wpaper:halshs-03753085>
By: Michaël Assous
<http://econpapers.repec.org/scripts/search.pf?aus=Micha%C3%ABl%20Assous>
(TRIANGLE
- Triangle : action, discours, pensée politique et économique - ENS Lyon -
École normale supérieure - Lyon - UL2 - Université Lumière - Lyon 2 - IEP
Lyon - Sciences Po Lyon - Institut d'études politiques de Lyon - Université
de Lyon - UJM - Université Jean Monnet [Saint-Étienne] - CNRS - Centre
National de la Recherche Scientifique); Vincent Carret
<http://econpapers.repec.org/scripts/search.pf?aus=Vincent%20Carret>
(TRIANGLE
- Triangle : action, discours, pensée politique et économique - ENS Lyon -
École normale supérieure - Lyon - UL2 - Université Lumière - Lyon 2 - IEP
Lyon - Sciences Po Lyon - Institut d'études politiques de Lyon - Université
de Lyon - UJM - Université Jean Monnet [Saint-Étienne] - CNRS - Centre
National de la Recherche Scientifique)
Abstract: In a 1932 policy paper, the Dutch economist Jan Tinbergen
suggested that there could be two stable equilibria in a model with two
firms acting in two sectors, with one of the equilibria having more
production and employment. Arguing on the basis of a diagram that firms
could not get out of the "bad" equilibrium on their own, he suggested that
this justified government interventions to increase employment. While he
referred to the general equilibrium systems of Walras and Cassel, he did
not present a fully worked out model but referred to the unpublished study
of one J. G. Koopmans. The latter was spurred by Tinbergen's reference to
publish his ideas on the problem of multiple equilibria. In his three-part
paper, he underlined that a Walrasian system could not show Tinbergen's
coordination problem, because there could be no unemployment at an
equilibrium point in a Walrasian model. The examples he presented, with
three equilibria, showed that they could not be ordered. After this
exchange, Tinbergen moved away from Walrasian multiple equilibria, and
abandoned the general equilibrium approach to economic modeling in favor of
the macrodynamic approach that was developed at the same time by Ragnar
Frisch and Michal Kalecki.
Keywords: coordination,duopoly,Jan Tinbergen,multiple equilibria,J. G.
Koopmans
Date: 2022–08–17
URL: http://d.repec.org/n?u=RePEc:hal:wpaper:halshs-03753085&r=
2. Peter Howitt – a Keynesian Still in Recovery
<http://econpapers.repec.org/RePEc:uwo:uwowop:202211>
By: David Laidler
<http://econpapers.repec.org/scripts/search.pf?aus=David%20Laidler>
(University
of Western Ontario)
Abstract: Peter Howitt is best known for his contributions to growth
theory, but his work in short-run economics, which began with his Ph.D
thesis and still continues, is important and deserves attention. It lies
firmly in the Keynesian macro-disequilibrium tradition of Clower and
Leijonhufvud, and for a long time has been overshadowed by New-classical
and New-Keynesian orthodoxy. However, the development of agent based
modelling and behavioural economics will perhaps give disequilibrium
macroeconomics a new lease on life.
Keywords: equilibrium, disequilibrium, money, New classical Economics,
New Keynesian Economics, Keynes, Lucas, Howitt, Clower, Leijonhufud, Phelps.
JEL: B22 B59 E12 E13 E31 E32
<http://econpapers.repec.org/scripts/search.pf?jel=B22%20B59%20E12%20E13%20E31%20E32>
Date: 2022
URL: http://d.repec.org/n?u=RePEc:uwo:uwowop:202211&r=
3. Classicals versus Keynesians: Fifty Distinctions between Two Major
Schools of Economic Thought
<http://econpapers.repec.org/RePEc:arx:papers:2209.02683>
By: Seyyed Ali Zeytoon Nejad Moosavian
<http://econpapers.repec.org/scripts/search.pf?aus=Seyyed%20Ali%20Zeytoon%20Nejad%20Moosavian>
Abstract: Macroeconomics essentially discusses macroeconomic phenomena
from the perspectives of various schools of economic thought, each of which
takes different views on how macroeconomic agents make decisions and how
the corresponding markets operate. Therefore, developing a clear,
comprehensive understanding of how and in what ways these schools of
economic thought differ is a key and a prerequisite for economics students
to prosper academically and professionally in the discipline. This becomes
even more crucial as economics students pursue their studies toward higher
levels of education and graduate school, during which students are expected
to attain higher levels of Bloom's taxonomy, including analysis, synthesis,
evaluation, and creation. Teaching the distinctions and similarities of the
two major schools of economic thought has never been an easy task to
undertake in the classroom. Although the reason for such a hardship can be
multi-fold, one reason has undoubtedly been students' lack of a holistic
view on how the two mainstream economic schools of thought differ. There is
strong evidence that students make smoother transition to higher levels of
education after building up such groundwork, on which they can build
further later on (e.g. Didia and Hasnat, 1998; Marcal and Roberts, 2001;
Islam, et al., 2008; Green, et al., 2009; White, 2016). The paper starts
with a visual spectrum of various schools of economic thought, and then
narrows down the scope to the classical and Keynesian schools, i.e. the
backbone of modern macroeconomics. Afterwards, a holistic table contrasts
the two schools in terms of 50 aspects. Not only does this table help
economics students enhance their comprehension, retention, and
critical-thinking capability, it also benefits macroeconomic instructors to
...
Date: 2022–09
URL: http://d.repec.org/n?u=RePEc:arx:papers:2209.02683&r=
4. PARETO ON CLASSICAL POLITICAL ECONOMY: ‘PER LA VERITÀ’
<http://econpapers.repec.org/RePEc:uwa:wpaper:22-13>
By: Michael McLure
<http://econpapers.repec.org/scripts/search.pf?aus=Michael%20McLure>
(Economics
Department, Business School, The University of Western Australia)
Abstract: In this essay, I investigate Pareto’s understanding of
classical political economy as a science, with particular emphasis on the
themes of surplus, value and the cost of production. For those themes, this
study reveals that Pareto considered substantive economic knowledge to have
developed asymptotically. In reaching that view, and in emphasising the
substantive continuity in the progress of economics from classical
political economy to the economics of the Lausanne school, I attempt to
clarify why Francesco Ferrara’s critical assessment of, and positive
contribution to, classical political economy was important for Pareto’s
appreciation of the classical approach.
Date: 2022
URL: http://d.repec.org/n?u=RePEc:uwa:wpaper:22-13&r=
5. What analytical framework for Sovereign Money? Some insight from the
100% Money literature, and a comment on criticisms
<http://econpapers.repec.org/RePEc:hal:wpaper:hal-03751756>
By: Samuel Demeulemeester
<http://econpapers.repec.org/scripts/search.pf?aus=Samuel%20Demeulemeester>
(TRIANGLE
- Triangle : action, discours, pensée politique et économique - ENS Lyon -
École normale supérieure - Lyon - UL2 - Université Lumière - Lyon 2 - IEP
Lyon - Sciences Po Lyon - Institut d'études politiques de Lyon - Université
de Lyon - UJM - Université Jean Monnet [Saint-Étienne] - CNRS - Centre
National de la Recherche Scientifique)
Abstract: The 2007-2008 Global Financial Crisis has brought renewed
interest in the 100% Money reform idea of the 1930s', the essence of which
was to require 100% reserves on transaction deposits so as separate money
issuance from bank loans. A modern version of this idea, the Sovereign
Money proposal, has been much discussed in recent years. Some heterodox
economists have harshly criticized Sovereign Money advocates for lacking a
clear analytical framework, as well as for disregarding "established"
literature on such topics as the causality relationship between money and
prices, the accommodation of business needs, financial instability, or the
seigniorage privilege. The literature on 100% Money, however, appears to
have been largely overlooked by both sides of the debate-even though, as
this article shows, it could have brought valuable theoretical insight to
the discussion. Building upon the arguments of the 100% Money writers, this
paper concludes that many of the criticisms addressed to the Sovereign
Money proposal are either inconclusive or misplaced.
Keywords: 100% money,Sovereign Money,full reserve banking,endogenous
money,financial instability B26,E30,E42
Date: 2022–08–15
URL: http://d.repec.org/n?u=RePEc:hal:wpaper:hal-03751756&r=
6. Network effects or rent extraction? Evidence from editorial board
rotation. <http://econpapers.repec.org/RePEc:gra:wpaper:22/13>
By: Lorenzo Ductor
<http://econpapers.repec.org/scripts/search.pf?aus=Lorenzo%20Ductor>
(Department
of Economic Theory and Economic History, University of Granada.); Bauke
Visser <http://econpapers.repec.org/scripts/search.pf?aus=Bauke%20Visser>
(Erasmus
University Rotterdam and Tinbergen Institute)
Abstract: A department’s yearly publication count in a journal increases
when a member of the department joins the journal’s editorial board. The
common interpretation of this fact—that during the board member’s tenure,
departmental colleagues publish more—is inaccurate. In a sample of 106
economics journals covering 1990-2011, we estimate that of the observed
increase in the publication count, 73 per cent is (co-)authored by board
members themselves. Their single-authored papers in a journal receive
significantly less citations if they are on that journal’s editorial board.
We find no evidence that they discover attractive papers among their
colleagues that otherwise wouldn’t be published.
Keywords: Editorial boards, Networks, Colleague, Coauthor, Rent
extraction, Publishing
JEL: A11 A14 O31
<http://econpapers.repec.org/scripts/search.pf?jel=A11%20A14%20O31>
Date: 2022–09–15
URL: http://d.repec.org/n?u=RePEc:gra:wpaper:22/13&r=
7. Teaching Economics and Ethics
<http://econpapers.repec.org/RePEc:mrq:wpaper:2022-07>
By: Davis, John B.
<http://econpapers.repec.org/scripts/search.pf?aus=Davis,%20John%20B.>
(Department
of Economics Marquette University)
Abstract: As an interdisciplinary field, economics and ethics has been
taught in many different ways, including in my experience teaching the
course over many years. This paper describes the challenges teaching this
subject involves and the strategy I ultimately adopted for doing so after
trying different approaches. This strategy was meant to address the needs
of a heterogenous collection of students, many of whom had limited
knowledge of economics and were likely not take many additional courses in
it. The course was structured around four modules opposed to one another in
two pairs: (1) Ways economics influences ethics: The market vision (2) Ways
economics influences ethics: Rationality and efficiency (3) Ways ethics
influences economics: Moral limits of markets (4) Ways ethics influences
economics: Taming the market Each module was built around real world
applications. The course finished with a fifth module in the form of a
capstone exercise – Rationing health care – that required students rank
who had a priority for care from four individual cases of varying life
circumstances drawn from Cookson and Dolan (2000). Students used the views
they had developed in the first four modules to do this, and then explained
and discussed both their rankings and the overall rankings that prevailed
over all students. The course was taught both in person and online and in
both long and short teaching terms, emphasized student interaction and
openness to different views of how economics and ethics can be connected,
and argued for democratic values in pluralist societies.
Keywords: economics and ethics, teaching, interdisciplinary, health care
JEL: A12 A13 A22
<http://econpapers.repec.org/scripts/search.pf?jel=A12%20A13%20A22>
Date: 2022–09
URL: http://d.repec.org/n?u=RePEc:mrq:wpaper:2022-07&r=
8. Development and Interdisciplinarity: re-examining the 'economics silo'
<http://econpapers.repec.org/RePEc:ico:wpaper:139>
By: Matthias Aistleitner
<http://econpapers.repec.org/scripts/search.pf?aus=Matthias%20Aistleitner>
(Institute
for Comprehensive Analysis of the Economy, Johannes Kepler University Linz,
Austria)
Abstract: Recent evidence from citation analysis [Mitra, S., Palmer, M,
Vuon, V. (2020). Development and interdisciplinarity: A citation analysis.
World Development, 135, 105076; hereafter MPV] shows that development as a
field of study hardly interacts with other disciplines – except mainstream
economics. Moreover, MPV analyze the reported affiliation of each author
listed in the Web of Science database and find that, in response to growing
competition in the publishing process, economists tend to publish more in
development studies journals. In this paper, I apply an alternative
approach in identifying the disciplinary and paradigmatic background of
development scholars by matching bibliometric data on articles published in
World Development with the RePEc author database. The results from this
analysis suggest a quite different picture regarding the share of
economists that publish in the field’s flagship journal: in contrast to
MPV, I report a significantly higher share of scholars with an economics
research background. Considering these findings, the paper further explores
non-trivial differences of the 'economics silo' (i.e. economists that
publish research related to development) in World Development vis-Ã -vis
research by scholars from other social science disciplines via extensive
citation analysis. The overall finding of this analysis is that the lack of
interdisciplinarity (as observed by MPV) is largely due to economists that
publish their work in the journal.
Keywords: Development, Interdisciplinarity, Citation Analysis, RePEc,
Economic Imperialism
Date: 2022–09
URL: http://d.repec.org/n?u=RePEc:ico:wpaper:139&r=
9. The Agenda for Evolutionary Economics: Results, Dead Ends, and
Challenges Ahead. <http://econpapers.repec.org/RePEc:ssa:lemwps:2022/24>
By: Giovanni Dosi
<http://econpapers.repec.org/scripts/search.pf?aus=Giovanni%20Dosi>
Abstract: This essay outlines the evolutionary research agenda
thoroughly explored in its microeconomic aspects in the forthcoming Manual,
The Foundations of Complex Evolving Economies. Part One: Innovation,
Organization and Industrial Dynamics, Oxford University Press, 2023. But is
there an ''evolutionary paradigm'', in the first place? And if yes, what is
it? In brief, in such a paradigm, the economy is interpreted as a complex
evolving system. In that, a wide set of techno-economic phenomena are
understood as emergent properties - outcomes of far-from-equilibrium
interactions among heterogeneous agents - characterized by endogenous
preferences, most often ''boundedly rational'' - but always capable of
learning, adapting, and innovating with respect to their understandings of
the world in which they operate, the technologies they master, their
organizational forms, and their behavioral repertoires. All that involves
some crucial properties. First, if the entities are genuinely evolving, new
elements, new technologies, new organizational forms, new patterns of
interaction are bound to appear along the course of evolution. Second,
evolution is a multi-scale phenomenon. This is a fundamental property of
biological evolution, and even more so is the evolution of economies and
whole societies, nested in different institutions - possibly evolving at
different paces, and coupled with technological and organizational changes.
Third, but relatedly, economies are complex interactive systems.
Interaction generally implies emergence. There is no isomorphism between
macroscopic phenomena, say, the dynamics of industries, markets, and whole
economies, on the one hand, and the behaviours of individual entities, on
the other. More is different (Anderson, 1972). Fourth, complexity is
intimately linked with non-linearities, and thus multiple possible
dynamical paths. History counts. And this, even more so, in socio-economic
environments characterized by knowledge accumulation. Knowledge builds upon
itself, thus involving what economists in their jargon call dynamic
increasing returns. As summarized in this essays Part One of the Manual
addresses in the foregoing perspective, (i) Innovation and technological
evolution; (ii) The theory of the firm in evolving environments; (iii) The
formalization of learning processes; (iv) the theory of production; (v)
consumption patterns; (vi) economic interactions and the working of
markets; and, (vii) The ensuing structures and evolution of industries.
Further in this essay we sketch some fundamental topics of the
macroeconomic and developmental research ahead, which we mean to explore in
Part Two of the Manual, in progress. At the same time the reader is warned
against multiple risks of ''normalization'' by which 'evolution' is reduced
to sheer 'innovation', and the latter is handled by standard econometric
instruments, which are inevitably bound to largely neglect, among other
features, the emergence of novelty, coupled dynamics, profound
heterogeneities at all levels, and various forms of complementarities.
Keywords: Economic evolution; complex systems; technological and
organizational innovation; heterogeneity; market processes; bounded
rationality; organizational capabilities; routines and heuristics; theory
of production; industrial structures.
Date: 2022–09–21
URL: http://d.repec.org/n?u=RePEc:ssa:lemwps:2022/24&r=
10. L'imprévisibilité relative des forces économiques mondiales Une
analyse du « futur du capitalisme » de Lester Thurow (1996)
<http://econpapers.repec.org/RePEc:hal:wpaper:hal-03754661>
By: Jacques Fontanel
<http://econpapers.repec.org/scripts/search.pf?aus=Jacques%20Fontanel>
(CESICE
- Centre d'études sur la sécurité internationale et les coopérations
européennes - UGA - Université Grenoble Alpes - IEPG - Sciences Po Grenoble
- Institut d'études politiques de Grenoble - UGA - Université Grenoble
Alpes)
Abstract: Forecasting is always difficult, especially the future.
Economists have sought to develop a scientific infrastructure designed to
improve the productive performance and living standards of consumers and
citizens. However, this body of knowledge hardly allows for the development
of effective instruments to fulfill these objectives. Contrary to
Fukuyama's idea of the "end of history", Lester Thurow has presented an
outline of the future evolution of a capitalism whose strength as well as
precariousness he measures. His analysis highlights the inadequacies of
capitalism, the absence of a competing economic system, the emergence of a
multipolar world without a hegemonic power, the development of regional
blocs, the shortcomings of the market, the development of inequalities, the
rise of the grey matter industry, the threat of demographics, the crisis of
work, and economic and political instability. Several elements of analysis
remain relevant, but three essential elements of the political-economic
situation in the world today are unfortunately absent, such as the
permanence of military warfare, especially in developed countries, and the
conflict of world leadership between the United States and China. Finally,
the issue of global warming and pollution is never mentioned.
Abstract: Il est toujours difficile de prévoir, surtout l'avenir. Les
économistes ont cherché à élaborer une infrastructure scientifique destinée
à améliorer les performances productives et le niveau de vie des
consommateurs et citoyens. Cependant, l'ensemble de ces connaissances ne
permettent guère de développer des instruments efficaces pour remplir ces
objectifs. En contestation de l'idée de Fukuyama sur la « fin de l'histoire
», Lester Thurow a présenté les grandes lignes des évolutions à venir d'un
capitalisme dont il mesure aussi bien la force que la précarité. Son
analyse met en lumière les insuffisances du capitalisme, l'absence d'un
système économique concurrent, l'apparition d'un monde multipolaire sans
puissance hégémonique, le développement des blocs régionaux, les défauts du
marché, le développement des inégalités, l'essor de l'industrie de la
matière grise, la menace de la démographie, la crise du travail, et
l'instabilité économique et politique. Plusieurs éléments d'analyse restent
d'actualité, mais trois éléments essentiels de la situation
politico-économique du monde d'aujourd'hui sont malheureusement absents,
comme la permanence des actions de guerres militaires, notamment dans les
pays développés, et le conflit de leadership mondial entre les Etats-Unis
et la Chine. Enfin, la question du réchauffement climatique et de la
pollution n'est jamais évoquée.
Keywords: Capitalism,demography,hegemony,social
inequalities,wars,economic wars,global
warming,Capitalisme,démographie,hégémonie,inégalités
sociales,guerres,guerres économiques,réchauffement climatique.
Date: 2022–08–19
URL: http://d.repec.org/n?u=RePEc:hal:wpaper:hal-03754661&r=
11. Towards extracting collective economic narratives from texts
<http://econpapers.repec.org/RePEc:zbw:rwirep:963>
By: Lange, Kai-Robin
<http://econpapers.repec.org/scripts/search.pf?aus=Lange,%20Kai-Robin>;
Reccius,
Matthias
<http://econpapers.repec.org/scripts/search.pf?aus=Reccius,%20Matthias>;
Schmidt,
Tobias
<http://econpapers.repec.org/scripts/search.pf?aus=Schmidt,%20Tobias>;
Müller,
Henrik
<http://econpapers.repec.org/scripts/search.pf?aus=M%C3%BCller,%20Henrik>
; Roos, Michael W. M.
<http://econpapers.repec.org/scripts/search.pf?aus=Roos,%20Michael%20W.%20M.>
; Jentsch, Carsten
<http://econpapers.repec.org/scripts/search.pf?aus=Jentsch,%20Carsten>
Abstract: Identifying narratives in texts is a challenging task, as not
only narrative elements such as the factors and events have to be
identified but their semantic relation has to be explained as well. Despite
this complexity, an effective technique to extract narratives from texts
can have a great impact on how we view political and economical
developments. By analyzing narratives, one can get a better understanding
of how such narratives spread across the media landscape and change our
world views as a result. In this paper, we take a closer look into a
recently proposed definition of a collective economic narrative that is
characterized by containing a cause-effect relation which is used to
explain a situation for a given world view. For the extraction of such
collective economic narratives, we propose a novel pipeline that improves
the RELATIO-method for statement detection. By filtering the corpus for
causal articles and connecting statements by detecting causality between
them, our augmented RELATIO approach adapts well to identify more complex
narratives following our definition. Our approach also improves the
consistency of the RELATIO-method by augmenting it with additional pre- and
post-processing steps that enhance the statement detection by the means of
Coreference Resolution and automatically filters out unwanted noise in the
form of uninterpretable statements. We illustrate the performance of this
new pipeline in detecting collective economic narratives by analyzing a
Financial Times data set that we filtered for economic and
inflation-related terms as well as causal indicators.
Keywords: Econometrics,narrative,text mining,coreference
resolution,named entity recognition,causal linking
JEL: C18 C55 C87 E70
<http://econpapers.repec.org/scripts/search.pf?jel=C18%20C55%20C87%20E70>
Date: 2022
URL: http://d.repec.org/n?u=RePEc:zbw:rwirep:963&r=
------------------------------
This nep-hpe issue is ©2022 by <http://econpapers.repec.org/RAS/pth72.htm>Erik
Thomson. It is provided as is without any express or implied warranty. It
may be freely redistributed in whole or in part for any purpose. If
distributed in part, please include this notice.
General information on the NEP project can be found at http://nep.repec.org.
For comments please write to the director of NEP, Marco Novarese
<http://novarese.org/> at <[log in to unmask]>. Put “NEP” in the
subject, otherwise your mail may be rejected.
NEP’s infrastructure is sponsored by
the School of Economics and Finance of Massey University in New Zealand.
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