What do economists know that policymakers need to?
Article Abstract:
Economists effectively contribute to the betterment of a country's economic status provided they realize their role and capabilities. To effectively guide, economists should lose their self-absorption, increase their knowledge about real phenomena and consequences, and realize that policymaking is a human initiative. Economists must learn to coincide flexibility of approach with the willingness to experiment by adhering to the basic truths of economic theory. They must also realize the significance of foreign aid organizations that develop better policies.
Publication Name: American Economic Review
Subject: Economics
ISSN: 0002-8282
Year: 1997
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Ownership structure, institutional organization and measured X-efficiency
Article Abstract:
The popularity of efficiency measurement in applied economics has drawn attention toward the evaluation of the empirical techniques used by researchers. Researchers are not relating measurement and theory in a systematic manner. Economists should relate their choice of sample or research method to the investigation of the issues raised by the X-efficiency theory of Harvey Leibenstein. The nature of the cause and effect of inefficiency can only be measured if a more scientific approach to sample selection is taken.
Publication Name: American Economic Review
Subject: Economics
ISSN: 0002-8282
Year: 1992
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International price and quantity comparisons: potentials and pitfalls
Article Abstract:
The International Comparison Programme (ICP) of the United Nations International Comparison Project provides countries with tools for comparative economic studies. ICP benchmark studies are used for international policy analysis and economic research. On the other hand, the Penn World Table provides real time-series analysis by combining System of National Accounts with benchmark studies.
Publication Name: American Economic Review
Subject: Economics
ISSN: 0002-8282
Year: 1996
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