This paper challenges the commonly held view that Smith's moral theory is a subjectivist theory. Smith's test for goodness and rightness - for propriety - is not the approbation of an impartial spectator, but the warranted approbation of such a spectator. Something is right or good not because...

Limited dependent variable (LDV) data are common in political science, and political methodologists have given much good advice on dealing with them. We review some methods for LDV “change point problems” and demonstrate the use of Bayesian approaches for count, binary, and duration-type...

In this paper, we present a simplified macroeconomic model where money demand does not depend on the level of income. We then derive aggregate demand in a simple four quadrant diagram similar to a standard IS-LM. The analysis is extended to a model including net exports. The standard economic...