AHE Research Methods Workshop 17th January 2020 Dr

Transcript:AHE Research Methods Workshop 17th January 2020 Dr:
AHE Research Methods Workshop 17th January 2020 Dr Sara Stevano Qualitative Methods for Economic Research Questions What types of economic questions can be addressed with qualitative methods/data? How can qualitative methods be used for the collection of economic data? What contributions can qualitative methods/data make to economic inquiry? Commonly-held views about qualitative methods Qualitative methods produce findings that cannot be generalised Qualitative data is about people’s opinions Qualitative methods are less rigorous than quantitative ones Qualitative methods are less useful than quantitative methods in economic research Qualitative methods are useful to inform the design of quantitative methods Qualitative data is not objective Qualitative methods yield richer information Lack of agreed criteria to assess the quality of qualitative studies  Truths or myths? What is a qualitative method? What examples can you think of? Organisation of work ‘Modern economics began with Adam Smith's visit to a pin factory, which helped him explain how the division of labor worked (Smith, 1776 [1985 p. 6]).’ Helper, 2000: 228 ‘The intellectual roots of industry studies can be traced to the economists Adam Smith (1723-1790) and Alfred Marshall (1842-1924), who demonstrated that the scientific foundation of economics and its social effects are enhanced by grounding analysis in the practical experience of industry and in the direct observation of production processes… In his preface to Industry and Trade (1919), Alfred Marshall explains that he had a career-long practice of visiting manufacturing plants so that he might be better informed by the experience.’ Sloan Foundation (project on industry studies) Importance of observational evidence (field visit) to understand the organisation of work and productive processes Economic decisions Blinder, A. (1994) ‘On Sticky Prices: Academic Theories Meet the Real World’, in N. G. Mankiw, ed. Monetary Policy, Chicago: University of Chicago Press. Market-clearing hypothesis works in the long run, not in the short run – prices adjust with a certain delay (‘sticky prices’ hypothesis) Why do firms not adjust prices more quickly to respond to changing economic conditions? Interviews with business people responsible for setting prices in their firms (structured interviews with open-ended questions) Two key findings: Sticky prices are common Firms typically review prices only once or twice a year – none of 12 theories of price stickiness emerged as the overwhelming explanation for not adjusting prices more often Value of asking economic actors why they make the decisions they make; could achieve greater depth by exploring the