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 ...

Julia Kagan is a financial/consumer journalist and former senior editor, personal finance, of Investopedia. Erika Rasure is globally-recognized as a leading consumer economics subject matter expert, ...

This article appears in the April 2023 issue of The American Prospect magazine. Subscribe here. Economics is commonly described as the science of scarcity. We have limited resources, and we have to ...

Bayesian Model Averaging (BMA) has emerged as a robust framework for addressing model uncertainty in empirical growth research. Rather than selecting a single ‘best’ specification, BMA combines the ...

This course, presented by the Institute for Capacity Development, gives government officials a rigorous foundation estimating of macro-econometric models and their application for nowcasting, ...