Last week, Matt Yglesias wrote a piece arguing that Republican harping on high gas prices is unlikely to much damage Barack Obama. The fundamental point of the piece is that gas prices are endogenous: ...

Endogenous and exogenous are economic terms to describe internal and external factors respectively affecting business production, efficiency, growth and profitability. You are not able to control all ...

Comparative Statics, tracking an optimal or equilibrium value as an exogenous variable changes, ceteris paribus, is the heart of economic analysis. By building models and analyzing the comparative ...