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by dj-wonk
4537 days ago
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You are talking about the aggregate demand–aggregate supply model, right? https://en.wikipedia.org/wiki/AD-AS_model Here's my take: the paper would say that solving the AD-AD model with a computational technique with specific choices for parameters would not be considered a theoretical contribution. I think that is an accurate characterization of economics, based on my experience of what 'theoretical' means. Why? When you use a numerical technique (i.e. not a symbolic manipulation) with particular values for the parameters, few would call that theoretical work. They'll call it applied economics. (Side note: I can't speak from experience if the AD-AS model is usually solved with dynamic programming.) |
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