Frequently, economic models posit structural parameters. A model may have various exogenous variables, and those variables may change to create various responses by economic variables. Methodological uses of models include investigation, theorizing, and fitting theories to the world. Vivian Walsh 1987. "models and theory," The New Palgrave: A Dictionary of Economics, v. 3, pp. 482-83.

Overview

In general terms, economic models have two

1.Previous
3.Next