What did Jan Tinbergen develop for economic analysis?
Dynamic models
Supply-demand curves
Game theory
Behavioral models
Answer
Dynamic models, developed by Jan Tinbergen, are mathematical representations of economic systems that incorporate time as a factor. These models allow economists to analyze the behavior of economic variables over time, taking into account the effects of past events and the interactions between different sectors of the economy. Dynamic models are essential for understanding the long-term consequences of economic policies and for forecasting future economic trends.
Tinbergen Trivia: Unraveling the Genius of a Dutch Economist
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