Document Type
Article
Publication Date
6-2023
Publication Title
The Journal of Economic Asymmetries
Volume
27
Pages
1-15
Publisher Name
Elsevier
Publisher Location
Amsterdam
Abstract
This paper focuses on economic and financial asymmetries by addressing methodological issues related to the meaning of economic asymmetries and how such asymmetries arise in markets, general equilibrium modeling and in national and global economies. The methodology of modeling asymmetric information began with Akerlof's celebrated model of “lemons” and while these asymmetries were quickly adopted in microeconomics, macroeconomics, business cycles and related areas, economic policies adapted the concept of asymmetries to highlight the importance of unequal magnitudes of responses among economic and financial variables. We discuss numerous topics that illustrate the large scope of economic and financial asymmetries in actual economies and their modeling to establish their methodological centrality in economic analysis and policy.
Recommended Citation
Alogoskoufis, George; Malliaris, A. (Tassos) G.; and Stengos, Thanasis. The Scope and Methodology of Economic and Financial Asymmetries. The Journal of Economic Asymmetries, 27, : 1-15, 2023. Retrieved from Loyola eCommons, School of Business: Faculty Publications and Other Works, http://dx.doi.org/10.1016/j.jeca.2023.e00297
Creative Commons License
This work is licensed under a Creative Commons Attribution-Noncommercial-No Derivative Works 3.0 License.
Copyright Statement
© Elsevier, 2023.
Comments
Author Posting. © Elsevier, 2023. This is the author's version of the work. It is posted here by permission of Elsevier for personal use, not for redistribution. The definitive version was published in the Journal of Economic Asymmetries, Volume 27, June 2023. https://doi.org/10.1016/j.jeca.2023.e00297