2,793 works, 150 years of economic thought. Each one summarized and searchable, with cited passages inside.
How much economic detail can a planning model responsibly promise when national statistics are scarce and unreliable? Gerhard Tintner and Oswaldo Dávila address this problem through a deliberately compact, five-equation Keynesian model of Ecuador, estimated from 1950–1961 data. They defend aggregation as a safeguard against false precision while arguing that coherent development policy requires explicit econometric relationships. The article’s concrete interest lies in its comparison of policy effects: within the model, investment and government consumption plus net exports can produce similar gains in output yet opposite movements in employment and wages. Readers can examine how limited evidence becomes a tool for distinguishing policy choices—and where that tool needs caution, particularly when reported numerical interpretations do not consistently match the equations.