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Replication data for: Power Laws in Economics: An Introduction

Resource Type
  • Gabaix, Xavier
Publication Date
  • 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.
  • Is supplement to
    DOI: 10.1257/jep.30.1.185 (Text)
  • Gabaix, Xavier. “Power Laws in Economics: An Introduction.” Journal of Economic Perspectives 30, no. 1 (February 2016): 185–206.
    • ID: 10.1257/jep.30.1.185 (DOI)

Update Metadata: 2020-05-18 | Issue Number: 2 | Registration Date: 2019-10-13

Gabaix, Xavier (2016): Replication data for: Power Laws in Economics: An Introduction. Version: V0. ICPSR - Interuniversity Consortium for Political and Social Research. Dataset.