Theory, general equilibrium and political economy in development economics
By: Daron Acemoglu
Contributors: National Bureau of Economic Research
Series: NBER working paper series -- working paper 15944; Working paper series (National Bureau of Economic Research : Online) -- working paper no. 15944.
Publisher: National Bureau of Economic Research
Published: 2010
Place of publication: Cambridge, MA
Language: eng
Format: Electronic resource
Description: "I discuss the role of economic theory in empirical work in development economics with special emphasis on general equilibrium and political economy considerations.  I argue that economic theory plays (should play) a central role in formulating models, estimates of which can be used for counterfactual and policy analysis.  I discuss why counterfactual analysis based on microdata that ignores general equilibrium and political economy issues may lead to misleading conclusions.  I illustrate the main arguments using examples from recent work in development economics and political economy"--National Bureau of Economic Research web site.
Notes: Title from PDF file as viewed on 5/6/2010.

Includes bibliographical references.

Also available in print.

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Mode of access: World Wide Web.