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Replication data for: Power Laws in Economics: An Introduction

Version
1
Resource Type
Dataset
Creator
  • Gabaix, Xavier
Publication Date
2015-12-28
Description
  • Abstract

    Many of the insights of economics seem to be qualitative, with many fewer reliable quantitative laws. However a series of power laws in economics do count as true and nontrivial quantitative laws—and they are not only established empirically, but also understood theoretically. I will start by providing several illustrations of empirical power laws having to do with patterns involving cities, firms, and the stock market. I summarize some of the theoretical explanations that have been proposed. I suggest that power laws help us explain many economic phenomena, including aggregate economic fluctuations. I hope to clarify why power laws are so special, and to demonstrate their utility. In conclusion, I list some power-law-related economic enigmas that demand further exploration.
Availability
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Relations
  • Is supplemented by
    DOI: 10.1257/jep.30.1.185 (Text)
Publications
  • Gabaix, Xavier. “Power Laws in Economics: An Introduction.” Journal of Economic Perspectives 30, no. 1 (February 2016): 185–206. https://doi.org/10.1257/jep.30.1.185.
    • ID: 10.1257/jep.30.1.185 (DOI)

Update Metadata: 2019-10-13 | Issue Number: 1 | Registration Date: 2019-10-13

Gabaix, Xavier (2015): Replication data for: Power Laws in Economics: An Introduction. Version: 1. ICPSR - Interuniversity Consortium for Political and Social Research. Dataset. http://doi.org/10.3886/E113966V1