2024-03-28T08:55:57Z
https://mpra.ub.uni-muenchen.de/cgi/oai2
oai:mpra.ub.uni-muenchen.de:39
2019-09-28T04:53:46Z
7374617475733D707562
7375626A656374733D4F:4F34:4F3431
7375626A656374733D42:4232:423233
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/39/
Strukturální modely růstu
Kyn, Oldrich
O41 - One, Two, and Multisector Growth Models
B23 - Econometrics ; Quantitative and Mathematical Studies
This is one chapter from the book “Eseje o teoriich ekonomickeho rustu” (Essays in the Theory of the Economic Growth”, that was published in Czechoslovakia during 1967. The main purpose of the book was to fill one of the many gaps in the knowledge of the advanced contemporary economic theory. These gaps were created in the times of dogmatic Marxism. This particular chapter was about the multi-sector models of economic growth. It starts with Walras’s attempts to make a dynamic version of his model of general equilibrium. It continues with presentation and detail explanation of several versions of the Leontief’s Input-Output model. Then von Neumann’s model is discussed with its extensions by Morishima (Marx-von Neumann and Walras – von Neumann models) and with analysis of the “Turnpike Theorem” (Dorfman, Samuelson, Solow, Hicks, Mc Kenzie, Morishima, Nikaido and Radner). There is a brief information about Optimalization models at the end of the chapter.
1967
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/39/1/MPRA_paper_39.pdf
Kyn, Oldrich (1967): Strukturální modely růstu. Published in: “Eseje o teoriich ekonomickeho rustu” (1967): pp. 247-277.
cs
oai:mpra.ub.uni-muenchen.de:2040
2019-09-27T23:56:50Z
7374617475733D707562
7375626A656374733D43:4334:433433
7375626A656374733D43:4330:433032
7375626A656374733D43:4334:433436
7375626A656374733D42:4232:423234
7375626A656374733D42:4234:423430
7375626A656374733D42:4232:423233
7375626A656374733D42:4231:423134
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/2040/
The indeterminacy of price-value correlations: a comment on papers by Simo Mohun and Anwar Shaikh
Freeman, Alan
C43 - Index Numbers and Aggregation
C02 - Mathematical Methods
C46 - Specific Distributions ; Specific Statistics
B24 - Socialist ; Marxist ; Sraffian
B40 - General
B23 - Econometrics ; Quantitative and Mathematical Studies
B14 - Socialist ; Marxist
This paper is the first published critique of the indeterminacy of price-value correlations and their inadequacy as empirical evidence for the determination of prices by values. It comments on the approach developed by Shaikh, Petrovic, Parys, Ochoa and others, according to which prices, as asserted by Ricardo, are empirically ‘97%’ determined by values.
This method calculates measures of distance (according to some or other measure such as Mean Absolute Distance, or correlation) between a vector of empirically-observed average price of a set of industrial sectors, and a vector of aggregate values calculated as the vertically-integrated labour coefficients of the same set of industrial sectors.
The present paper suggests, and establishes using a Monte Carlo method, that the observed correlations are most likely to ‘spurious’ since they can be entirely accounted for by variations in the size of the industrial sectors concerned.
The paper was published in the same volume as the paper from Anwar Shaikh to which it responds, as well as another by Simon Mohun on which the paper also comments. (Bellofiore, R (ed) Marxian Economics: a Reappraisal, Volume 2, pp139-162. Basingstoke: McMillan)
The controversy was subsequently developed in a number of exchanges including, in particular, papers in the Cambridge Journal of Economics between Andrew Kliman, Paul Cockshott and Allin Cottrell. It has further been discussed in papers by Ruben Osuna and Emilio Diaz which are at the time of submission unpublished, and in papers by Tsoulfidis and Maniatis also in the Cambridge Journal of Economics.
1998
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/2040/1/MPRA_paper_2040.pdf
Freeman, Alan (1998): The indeterminacy of price-value correlations: a comment on papers by Simo Mohun and Anwar Shaikh. Published in: Bellofiore, R (ed) Marxian Economics: a Reappraisal, Volume 2, pp139-162. Basingstoke: McMillan. ISBN 0 333 64411 5 (1998): pp. 139-162.
en
oai:mpra.ub.uni-muenchen.de:2290
2019-10-23T17:46:24Z
oai:mpra.ub.uni-muenchen.de:6883
2019-09-27T04:39:59Z
7374617475733D756E707562
7375626A656374733D4E:4E31
7375626A656374733D42:4232:423233
7375626A656374733D42:4232:423232
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/6883/
A SHORT REVIEW OF MACROECONOMICS DEVELOPMENT
Bernal, Humberrto
N1 - Macroeconomics and Monetary Economics ; Industrial Structure ; Growth ; Fluctuations
B23 - Econometrics ; Quantitative and Mathematical Studies
B22 - Macroeconomics
Resumen
El objetivo de este documento es entender, clasificar y proporcionar un importante resumen de los rasgos fundamentales de la macroeconomía con fundamentos microeconómicos y la macroeconomía como soporte de la microeconomía. Este documento puede ser interesante para aquellos que desean entender como estas dos escuelas macroeconómicas se han desarrollado.
Macroeconomía con fundamento microeconómicos presenta cuatro ramas: la Síntesis Neoclásica, Monetaristas, Nuevos Clásicos y Real Business, mientras la macroeconomía como soporte de la microeconomía solo presenta la rama de los Nuevos Keynesianos. Aunque estas escuelas tienen sus ideas particulares, cada rama las usa con diferentes propósitos.
Aunque el desarrollo del pensamiento macroeconómico ha mostrado diferentes puntos de vista que han generado debate dentro del campo, los economistas, con el tiempo, han tomado en cuenta estas diferencias para generar nuevas ideas. Por ejemplo, actualmente la mayoría de los economistas han escrito economía aplicada y teórica teniendo en cuenta la noción de equilibrio y fallas del mercado.
Abstract
The aim of this paper is to understand, classify and thus provide an important summary of fundamental features of Macroeconomics with microeconomics backgrounds and Macroeconomics as a background of microeconomics. It could be particularly interesting for those who wish to understand how these two macroeconomics schools of thought have developed.
Macroeconomics with microeconomics backgrounds has four branches: Neoclassical Synthesis, Monetarist, New Classical and Real Business, whereas Macroeconomics as a background of microeconomics just has the New Keynesians branch. Even though these schools have their own particular ideas, each branch uses them for a different purpose.
Although the development of macroeconomic thought has shown different views what have arisen interesting debates in economic field, economists have taken into account these different views to come up with new ideas throughout time. For instance, now days most economists have written applied and theory work bearing in mind equilibriums and fails of the market.
JEL- Classification: B22 , B23, N1
2007-12-15
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/6883/1/MPRA_paper_6883.pdf
Bernal, Humberrto (2007): A SHORT REVIEW OF MACROECONOMICS DEVELOPMENT.
en
oai:mpra.ub.uni-muenchen.de:6886
2019-09-30T14:30:22Z
7374617475733D707562
7375626A656374733D43:4331:433133
7375626A656374733D43:4335:433531
7375626A656374733D43:4335:433532
7375626A656374733D42:4232:423233
7375626A656374733D43:4332:433233
7375626A656374733D43:4333:433333
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/6886/
Tendencies in the Romania's Regional Economic Development during the Period 1991-2004
Andrei, Tudorel
Iacob, Andreea Iluzia
Vlad, Liviu Bogdan
C13 - Estimation: General
C51 - Model Construction and Estimation
C52 - Model Evaluation, Validation, and Selection
B23 - Econometrics ; Quantitative and Mathematical Studies
C23 - Panel Data Models ; Spatio-temporal Models
C33 - Panel Data Models ; Spatio-temporal Models
The objective of this paper represents the analysis of the way the Romania's economic integration in the EU will influence the regional specialization and industrial activities localization within NUTS (the eight regions of Romania) during the period 1991-2004, using absolute measures (Herfindahl index).
2007-06
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/6886/1/MPRA_paper_6886.pdf
Andrei, Tudorel and Iacob, Andreea Iluzia and Vlad, Liviu Bogdan (2007): Tendencies in the Romania's Regional Economic Development during the Period 1991-2004. Published in: Economic Computation and Economic Cybernetics Studies and Research , Vol. 41, No. 1-2/2007 (June 2007): pp. 107-119.
en
oai:mpra.ub.uni-muenchen.de:6889
2019-09-27T00:37:13Z
7374617475733D707562
7375626A656374733D43:4331:433133
7375626A656374733D43:4331:433130
7375626A656374733D43:4335:433531
7375626A656374733D42:4232:423233
7375626A656374733D43:4332:433235
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/6889/
The Application of the Econometric Models with Qualitative Variables in the Analysis of the Non Academic Behaviors at the Level of the Romanian Higher Education System
Andrei, Tudorel
Teodorescu, Daniel
Iacob, Andreea Iluzia E. S.
Stancu, Stelian
C13 - Estimation: General
C10 - General
C51 - Model Construction and Estimation
B23 - Econometrics ; Quantitative and Mathematical Studies
C25 - Discrete Regression and Qualitative Choice Models ; Discrete Regressors ; Proportions ; Probabilities
The purpose of this paper was to apply the econometric models with qualitative variables in order to analyze two non academic behaviors at the level of the Romanian higher education system: cheating on the exams by copying or by direct or intermediary intervention at the professor.
2007-12
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/6889/1/MPRA_paper_6889.pdf
Andrei, Tudorel and Teodorescu, Daniel and Iacob, Andreea Iluzia E. S. and Stancu, Stelian (2007): The Application of the Econometric Models with Qualitative Variables in the Analysis of the Non Academic Behaviors at the Level of the Romanian Higher Education System. Published in: Economic Computation and Economic Cybernetics Studies and Research , Vol. 41, No. No. 3-4/2007 (December 2007): pp. 131-139.
en
oai:mpra.ub.uni-muenchen.de:8866
2019-09-29T00:53:49Z
7374617475733D756E707562
7375626A656374733D42:4232:423233
7375626A656374733D42:4231:423136
7375626A656374733D42:4230:423030
7375626A656374733D42:4234:423431
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/8866/
In Quest of Truth: The War of Methods in Economics
Pillai N., Vijayamohanan
B23 - Econometrics ; Quantitative and Mathematical Studies
B16 - Quantitative and Mathematical
B00 - General
B41 - Economic Methodology
The present paper discusses the ‘battle of methods’ in economics in its epistemic pursuit in the framework of a dialectics between science and art. The traditional distinction between deduction and induction has come to be characterized as a ‘theory-data confrontation’; while the former a priori approach has flourished in terms of mathematical economics, the inductive approach has fulfilled its mission through econometrics and experimental economics. The paper outlines the recent trends in econometrics and experimental economics in the context of empirical pursuit. We conclude the study, reiterating the contemporary consensus on the complementary roles of the two approaches: a theory-data confluence, not in a static, but in a dialectical framework.
2008-05-25
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/8866/1/MPRA_paper_8866.pdf
Pillai N., Vijayamohanan (2008): In Quest of Truth: The War of Methods in Economics.
en
oai:mpra.ub.uni-muenchen.de:10253
2019-09-28T16:47:08Z
7374617475733D756E707562
7375626A656374733D42:4232:423233
7375626A656374733D4F:4F31:4F3136
7375626A656374733D50:5033:503334
7375626A656374733D46:4633:463336
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/10253/
The Dynamics of House Prices - International Evidence
Sorensen, Jens Kjaer
B23 - Econometrics ; Quantitative and Mathematical Studies
O16 - Financial Markets ; Saving and Capital Investment ; Corporate Finance and Governance
P34 - Financial Economics
F36 - Financial Aspects of Economic Integration
‘New’ long run data regarding Norway, the Netherlands, United Kingdom and USA has been collected and will be graphically, statistically and econometrically compiled and analyzed to prove that real house prices in the long run are constant and mean reverting. Co-integration of nominal house prices show that the long run fundamentals of real estate are income, rent and construction costs consistently across markets. In contrast an ECM analysis underscores that house prices in the short run are momentum drive, and house prices can deviate substantially from equilibrium in the SR. This fact is supported by theoretical insight about behaviourism and herding behaviour.
Analyzing the empirical evidence of dynamics of house prices and relating it to history shows that the housing markets have become synchronized for the first time in history. The latest boom in house prices have been strong and could have created an international housing bubble. The main reason for the creation of bubbles has been identified as liberalization of credit. Turning points are highly correlated with credit constraints being imposed, but other shocks can initiate the process too: interest rate increases or public regulation. All it takes is a change in sentiment, which will make the short run house prices correct towards equilibrium.
2006-03-10
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/10253/1/MPRA_paper_10253.pdf
Sorensen, Jens Kjaer (2006): The Dynamics of House Prices - International Evidence.
en
oai:mpra.ub.uni-muenchen.de:10761
2018-01-06T09:13:42Z
oai:mpra.ub.uni-muenchen.de:11057
2019-10-02T04:57:54Z
7374617475733D707562
7375626A656374733D50:5031:503131
7375626A656374733D46:4635:463539
7375626A656374733D45:4530:453031
7375626A656374733D41:4131:413131
7375626A656374733D42:4231:423135
7375626A656374733D43:4331:433130
7375626A656374733D48:4832:483231
7375626A656374733D44:4437:443731
7375626A656374733D42:4232:423233
7375626A656374733D41:4131:413132
7375626A656374733D48:4838:483833
7375626A656374733D48:4836:483631
7375626A656374733D42:4235:423533
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/11057/
O Estado e a Gestão da Administração Pública
Martins, J. Albuquerque
P11 - Planning, Coordination, and Reform
F59 - Other
E01 - Measurement and Data on National Income and Product Accounts and Wealth ; Environmental Accounts
A11 - Role of Economics ; Role of Economists ; Market for Economists
B15 - Historical ; Institutional ; Evolutionary
C10 - General
H21 - Efficiency ; Optimal Taxation
D71 - Social Choice ; Clubs ; Committees ; Associations
B23 - Econometrics ; Quantitative and Mathematical Studies
A12 - Relation of Economics to Other Disciplines
H83 - Public Administration ; Public Sector Accounting and Audits
H61 - Budget ; Budget Systems
B53 - Austrian
In this paper we discuss the actual and civilizational role of the state and its management. The MBO and the same OECD accounts-financial models are not recommended.With an comparative analysis we conclude for the necessity of a more organics and strategic models of governance and not instrumental ones.
2007-10-25
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/11057/1/MPRA_paper_11057.pdf
Martins, J. Albuquerque (2007): O Estado e a Gestão da Administração Pública. Published in:
pt
oai:mpra.ub.uni-muenchen.de:11718
2013-07-02T12:28:37Z
oai:mpra.ub.uni-muenchen.de:11808
2019-10-25T18:11:56Z
oai:mpra.ub.uni-muenchen.de:11848
2019-09-29T04:49:26Z
7374617475733D756E707562
7375626A656374733D42:4235:423531
7375626A656374733D42:4230
7375626A656374733D41:4131
7375626A656374733D43:4331:433132
7375626A656374733D42:4232:423232
7375626A656374733D43:4336:433637
7375626A656374733D43:4334:433431
7375626A656374733D43:4330:433032
7375626A656374733D42:4232:423233
7375626A656374733D43:4332:433232
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/11848/
Quelques bénéfices heuristiques d’une redéfinition du profit
Kroës, Romain M.
B51 - Socialist ; Marxian ; Sraffian
B0 - General
A1 - General Economics
C12 - Hypothesis Testing: General
B22 - Macroeconomics
C67 - Input-Output Models
C41 - Duration Analysis ; Optimal Timing Strategies
C02 - Mathematical Methods
B23 - Econometrics ; Quantitative and Mathematical Studies
C22 - Time-Series Models ; Dynamic Quantile Regressions ; Dynamic Treatment Effect Models ; Diffusion Processes
The present paper puts forward a new hypothesis about the economic circuit, which is a product of Marx’s “period of production” and Keynes’s determination order between investment and savings. It leads to a new definition of profit which excludes any remaining competition between savings and consumption on the global scale, and to a revision of National-Accounts’ equation of global income. Finally, the main heuristic benefits of these theoretical developments consist of both acquiring a specific economic time, as an explanatory variable, and demystifying the race to productivity as being globally a Sisyphean task; this will be statistically confirmed.
2008-09-25
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/11848/1/MPRA_paper_11848.pdf
Kroës, Romain M. (2008): Quelques bénéfices heuristiques d’une redéfinition du profit.
fr
oai:mpra.ub.uni-muenchen.de:14928
2019-09-29T20:03:04Z
7374617475733D707562
7375626A656374733D42:4232:423231
7375626A656374733D47:4731:473131
7375626A656374733D42:4232:423233
7375626A656374733D43:4330:433032
7375626A656374733D43:4336:433631
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/14928/
A quantifying method of microinvestment optimum
Albu, Lucian-Liviu
Camasoiu, Ion
Georgescu, George
B21 - Microeconomics
G11 - Portfolio Choice ; Investment Decisions
B23 - Econometrics ; Quantitative and Mathematical Studies
C02 - Mathematical Methods
C61 - Optimization Techniques ; Programming Models ; Dynamic Analysis
Amid the controversies around the optimisation criteria and the objective functions when applying mathematical methods in economics, we proposed a method of quantifying a multi-criteria optimum, called critical distance method. The demonstration of this method is exemplified by assessing the investment optimum at microeconomic level (project or company portfolio choice). A hyperbolic paraboloid function of three variables (the recovery time, the investment value and the unit cost) representing a surface of the second degree has been defined. The intersection of the hyperbolic parabola planes identifies the point where the three considered variables have the same value, signifying an equal importance attached to them and revealing the optimum level of their interaction. The distance from this critical point to the origin represents, in fact, the criterion according to which one could choose the most efficient investment alternative. In our opinion, the proposed method could be extended to the study of any economic process.
1985-01
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/14928/1/MPRA_paper_14928.pdf
Albu, Lucian-Liviu and Camasoiu, Ion and Georgescu, George (1985): A quantifying method of microinvestment optimum. Published in: Revue Roumaine des Sciences Economiques , Vol. 29, No. 1 : pp. 45-54.
en
oai:mpra.ub.uni-muenchen.de:16411
2019-09-27T16:32:51Z
7374617475733D756E707562
7375626A656374733D43:4334:433433
7375626A656374733D45:4533:453332
7375626A656374733D42:4232:423233
7375626A656374733D43:4332:433232
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/16411/
Los Barómetros de Harvard: ¿Permitían Pedecir la Depresión de 1929?
Escañuela Romana, Ignacio
C43 - Index Numbers and Aggregation
E32 - Business Fluctuations ; Cycles
B23 - Econometrics ; Quantitative and Mathematical Studies
C22 - Time-Series Models ; Dynamic Quantile Regressions ; Dynamic Treatment Effect Models ; Diffusion Processes
This paper reviews the possibility that Harvard barometers would have enabled to predict the Great Depression. Based on data from the ABC curves in August 1929, could have been foreseen the collapse of the stock market and the dramatic fall in economic activity?. It is now accepted that Harvard barometers did not allow to predict the crisis. This paper applies the harmonic analysis, a well-known method at the time of the barometers, and a number of significance tests used in that historic moment. Harvard barometers are analysed into sinusoid curves in order to, using the projection of these curves, check their forecast. The conclusion is: Harvard statisticians could have been able to foresee the fall on speculation, as defined in the curve A, but not the fall in business conditions and money and credit. Given this result, it is questioned first whether the detected regular fluctuations are an illusory effect of the composition of ABC curves, and second if it is useful to utilize such aggregate curves. It is concluded that, although aggregation does not have any predictive advantage, it is not the source of regularity.
2009-07
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/16411/1/MPRA_paper_16411.pdf
Escañuela Romana, Ignacio (2009): Los Barómetros de Harvard: ¿Permitían Pedecir la Depresión de 1929?
es
oai:mpra.ub.uni-muenchen.de:16606
2019-09-26T09:46:53Z
7374617475733D756E707562
7375626A656374733D42:4232:423233
7375626A656374733D51:5134
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/16606/
Determinants of Energy Intensity: A Preliminary Investigation of Indian Manufacturing
Sahu, Santosh
Narayanan, K
B23 - Econometrics ; Quantitative and Mathematical Studies
Q4 - Energy
The demand for energy, particularly for commercial energy, has been growing rapidly with the growth of the economy, changes in the demographic structure, rising urbanization, socio-economic development. In this context the energy intensity is one of the key factors which impact the projections of future energy demand. The Indian manufacturing sector is among the largest consumer of commercial energy compared to the other industries in India. Energy consumption per unit of production in the manufacturing of steel, aluminum, cement, paper, textile, etc. is much higher in India, in comparison to other developing countries. The purpose of this study is to understand the factors that influence industrial energy intensity in Indian manufacturing. The analysis undertaken in this paper find a positive relationship between energy intensity and firm size and an inverted U’ shaped relationship between energy intensity and size of the firm. The analysis shows that the foreign owned firms are less energy intensive compared to the domestic firms. Capital intensive firms as well as firms spending more on repair and maintenance are found to be more energy intensive. Further the results shows that expenditure on the research and development contribute to reduce firm level energy intensity and there is a sizable difference between highly energy intensive firm and less energy intensive firms.
2009-04-16
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/16606/1/MPRA_paper_16606.pdf
Sahu, Santosh and Narayanan, K (2009): Determinants of Energy Intensity: A Preliminary Investigation of Indian Manufacturing.
en
oai:mpra.ub.uni-muenchen.de:18025
2019-09-28T16:43:27Z
7374617475733D756E707562
7375626A656374733D46:4633:463337
7375626A656374733D42:4232:423233
7375626A656374733D48:4838:483833
7375626A656374733D45:4534:453434
7375626A656374733D43:4331
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/18025/
Volatility Indexes seem to point to the Past
Schroeder, Gerhard
F37 - International Finance Forecasting and Simulation: Models and Applications
B23 - Econometrics ; Quantitative and Mathematical Studies
H83 - Public Administration ; Public Sector Accounting and Audits
E44 - Financial Markets and the Macroeconomy
C1 - Econometric and Statistical Methods and Methodology: General
In theory, by trading options, market participants asses and set future volatilities that can be identified using the Black-Scholes-formula in reverse. In reality, as regression analysis suggests, it is historical market data which instead are used to determine future values. Further analysis shows that historical volatilities are insufficient predictors.
Yet this questionable practice is considered by international accounting standards (IAS/IFRS) to allow "historical data and implied volatilities" for "reasonable estimations". In a kind of short-circuit, historical volatilities are introduced into option trading and returned as implied volatilities.
In reality, both differ significantly from future values. Comparing the volatility of the past nine weeks with that of the following nine weeks, estimation error ranges from four to over ten percentage points.
(No paper found in the net challenging the implied hypothesis of IAS 39/AG82(f))
2009-10-20
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/18025/1/MPRA_paper_18025.pdf
Schroeder, Gerhard (2009): Volatility Indexes seem to point to the Past.
en
oai:mpra.ub.uni-muenchen.de:18400
2019-10-01T01:00:48Z
7374617475733D756E707562
7375626A656374733D46:4633:463337
7375626A656374733D42:4232:423233
7375626A656374733D48:4838:483833
7375626A656374733D45:4534:453434
7375626A656374733D43:4331
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/18400/
Volatility Indexes seem to point to the Past
Schroeder, Gerhard
F37 - International Finance Forecasting and Simulation: Models and Applications
B23 - Econometrics ; Quantitative and Mathematical Studies
H83 - Public Administration ; Public Sector Accounting and Audits
E44 - Financial Markets and the Macroeconomy
C1 - Econometric and Statistical Methods and Methodology: General
In theory, by institutional trading options (wholesale), professional market participants asses and set future volatilities that can be identified for the retail using the Black-Scholes-formula in reverse. In reality, as regression analysis suggests, it is historical market data which instead are used to determine future values. Further analysis shows that historical volatilities are insufficient predictors.
Yet this questionable practice is considered by international accounting standards (IAS/IFRS) to allow "historical data and implied volatilities" for "reasonable estimations". In a kind of short-circuit, historical volatilities are introduced into option trading and returned as implied volatility-indexes.
In reality, both differ significantly from future values. Comparing the volatility of the past nine weeks with that of the following nine weeks, estimation error ranges from four to over ten percentage points.
(No paper found in the net challenging the implied hypothesis of IAS 39/AG82(f))
2009-10-20
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/18400/1/MPRA_paper_18400.pdf
Schroeder, Gerhard (2009): Volatility Indexes seem to point to the Past.
en
oai:mpra.ub.uni-muenchen.de:19645
2019-09-27T13:33:39Z
7374617475733D707562
7375626A656374733D45:4536:453632
7375626A656374733D42:4232:423233
7375626A656374733D45:4532:453231
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/19645/
Das „saldenmechanische Modell“ von Fritz Helmedag und die Empirie
Quaas, Georg
E62 - Fiscal Policy
B23 - Econometrics ; Quantitative and Mathematical Studies
E21 - Consumption ; Saving ; Wealth
The mechanism of net balances – called “Saldenmechanik” in German – was the subject of a theory presented by Wolfgang Sützel in the 50ies of the last century. Stützel was “concerned with money flows between economic units and with net changes in the money holdings of these units as a result of such flows.” (Hein 1959) The name of Helmedag’s model refers to this tradition of macroeconomic thinking. From a point of view on the outside, Helemdag’s model of net balances can be characterized by an aggregate level comparable to the macroeconomic IS-model, but instead of specifying consumption and investment functions it is focused on income distribution and taxes – including their influence on national income and employment. Because the mathematical part of the model consists of identities only, it is similar to some equations of the modern system of national accounts (SNA), but without claiming and reaching their accuracy and richness. This feature makes it difficult to confront the model with real data. For this purpose it has to be embed in the SNA by adding some variables and by interpreting others in the light of some structural similarities between equations of the model and some equations of the SNA. Under these conditions, Helmedag’s model can be confronted with real data and its main conclusions can be tested empirically.
Ignoring the well known national and personal saving rates, Helmedag’s model utilizes different saving rates: The profit-saving rate is understood as the saving of profits as a percentage of profit income; the wage-saving rate is defined as the saving of wages as a percentage of wage income. Both rates are no part of the SNA as it is commonly understood. Therefore it was necessary to compute these special saving rates empirically on the basis of an additional socio-economic data set. As expected, it proofed right that profit-saving rates are usually higher than wage-saving rates. With these results, the model could interpreted empirically. It became evident that some of the consequences drawn by Helmedag and poured by him into the treasure chamber of inexpensive political recommendations were seriously wrong. Especially the proposition that indirect taxes (value added taxes) have no effect on national income and employment can be regarded as falsified.
Hein, John (1959) on W. Stützel: Volkswirtschaftliche Saldenmechanik: Ein Beitrag zur Geldtheorie. In: The American Economic Review, Vol. 49, No. 5 (Dec 1959), pp.1088-1089.
2007-06
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/19645/1/MPRA_paper_19645.pdf
Quaas, Georg (2007): Das „saldenmechanische Modell“ von Fritz Helmedag und die Empirie. Published in: Wirtschaftsdienst , Vol. 87 Hef, No. 00436275 (2007): pp. 406-412.
de
oai:mpra.ub.uni-muenchen.de:21368
2019-09-26T12:16:36Z
7374617475733D756E707562
7375626A656374733D42:4232:423233
7375626A656374733D41:4131:413131
7375626A656374733D41:4131:413134
7375626A656374733D42:4234:423431
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/21368/
Research standards for the Italian young academics: what has changed over the last thirty years?
Birolo, Adriano
Rosselli, Annalisa
B23 - Econometrics ; Quantitative and Mathematical Studies
A11 - Role of Economics ; Role of Economists ; Market for Economists
A14 - Sociology of Economics
B41 - Economic Methodology
In this paper the authors present the findings of their research on a vast database containing the relevant information on the scientific characteristics of the three cohorts of assistant professors recruited in Italy in the early 1980s, the 1990s and the first few years of the new millennium. Their first objective is to trace out the scientific profile of the assistant professor in the early 1980s and the changes that came about in the following twenty-five years due to general changes in the profession and in the specific conditions of the Italian academic market. The second aim is to see what turn in direction the scientific standard has taken for access to a career as a young professor of economics, the number and typology of publications, the fields of research.
2009-12-05
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/21368/2/MPRA_paper_21368.pdf
Birolo, Adriano and Rosselli, Annalisa (2009): Research standards for the Italian young academics: what has changed over the last thirty years?
en
oai:mpra.ub.uni-muenchen.de:21646
2019-09-26T12:54:24Z
7374617475733D756E707562
7375626A656374733D42:4232:423233
7375626A656374733D51:5134
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/21646/
Determinants of Energy Intensity in Indian Manufacturing Industries: A Firm Level Analysis
Sahu, Santosh
Narayanan, K
B23 - Econometrics ; Quantitative and Mathematical Studies
Q4 - Energy
The demand for energy, particularly for commercial energy, has been growing rapidly with the growth of the economy, changes in the demographic structure, rising urbanization, socio-economic development, and the desire for attaining and sustaining self-reliance in some sectors of the economy. In this context the energy intensity is one of the key factors, which affect the projections of future energy demand for any economy. Energy intensity in Indian industry is among the highest in the world. According to the GoI statistics, the manufacturing sector is the largest consumer of commercial energy in India. Energy consumption per unit of production in the manufacturing of steel, aluminum, cement, paper, textile, etc. is much higher in India, even in comparison with some developing countries. In this study we attempt to analyze energy intensity at firm level and define energy intensity as the ratio of energy consumption to sales turnover. The purpose of this study is to understand the factors that determine industrial energy intensity in Indian manufacturing. The results of the econometric analysis, based on firm level data drawn from the PROWESS data base of the Centre for Monitoring Indian Economy during recent years, identify the sources of variation in energy intensity. Also, we found a non-linear ‘U’ shaped relationship between energy intensity and firm size, implying that both very large and very small firms tend to be more energy intensive. The analysis also highlights that ownership type is an important determinant of energy intensity. We found that foreign owned firms exhibit a higher level of technical efficiency and therefore are less energy intensive. The technology import activities are important contributors to the decline in firm- level energy intensity. The paper also identifies that there is a sizable difference between energy intensive firm and less energy intensive firms. In addition the results shows that younger firms are more energy efficient as compared to the older firms and an inverse U’ shaped relationship is found between the energy intensity and the age of the firm.
2010-01-08
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/21646/1/MPRA_paper_21646.pdf
Sahu, Santosh and Narayanan, K (2010): Determinants of Energy Intensity in Indian Manufacturing Industries: A Firm Level Analysis.
en
oai:mpra.ub.uni-muenchen.de:21719
2019-09-27T18:33:05Z
7374617475733D756E707562
7375626A656374733D42:4232:423233
7375626A656374733D51:5134
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/21719/
Decomposition of Industrial Energy Consumption in Indian Manufacturing : The Energy Intensity Approach
Sahu, Santosh
Narayanan, K
B23 - Econometrics ; Quantitative and Mathematical Studies
Q4 - Energy
Increasing energy consumption has been one of the major issues in the environmental and industrial economics in the context of global climate change. Recent literature has dealt with several methodological and application issues related to the technique of decomposing changes in industrial energy consumption. In this paper, we examine these issues in the context of another commonly adopted approach to decomposition of aggregate changes in energy intensity of Indian manufacturing industries. The industrial sector accounts for about 37 percent of the total final energy consumption in India. Of this the manufacturing sector consumes about 66 percent (2004-05). The manufacturing sector is one of the energy intensive industries among other industries in India. The scope of the study includes an empirical analysis of General Parametric Divisia Method. This paper follows the energy intensity approach rather the energy consumption approach. This method involves decomposition of the aggregate energy intensity index measured in terms of energy consumption per unit of output. The analysis also includes a comparison of the time series analysis versus the period-wise decomposition. The factors considered are changes in production structure and sectoral energy intensities. The results of the analysis confirm that the changes in sectoral energy intensity play a greater role in the variation in the total energy intensity of Indian Manufacturing compared to the changes in the production structure of the Industries.
2010-03-19
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/21719/1/MPRA_paper_21719.pdf
Sahu, Santosh and Narayanan, K (2010): Decomposition of Industrial Energy Consumption in Indian Manufacturing : The Energy Intensity Approach.
en
oai:mpra.ub.uni-muenchen.de:22830
2019-09-27T07:22:40Z
7374617475733D707562
7375626A656374733D42:4232:423233
7375626A656374733D42:4232:423232
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/22830/
Estimation, Analysis and Projection of India’s GDP
Daga, Ugam Raj
Das, Rituparna
Maheshwari, Bhishma
B23 - Econometrics ; Quantitative and Mathematical Studies
B22 - Macroeconomics
Gross domestic product or GDP, tells us the country’s current aggregate production of goods and services. It is often considered the best measure of how well the economy is performing. GDP summarizes the aggregate of all economic activities in a given period of time. In any economy, however, goods and services produced are not homogenous. It is not possible to add, for example, 10 barrels of petroleum with 10 million matric tons of wheat. So, as a trick, quantities and volumes of all respective goods and services are multiplied by their prices and then summed up. This gives the money value of GDP. Prices however include indirect business taxes (IBT) i.e. sales taxes and excise duties. So this GDP is not a true measure of the productive activities in the economy. In order to get a true measure of GDP we deduct IBT from GDP. This is called GDP at factor cost. For all practical purposes the government uses data on GDP at factor cost. The government of India has started Economic Reform program following the guidelines of IMF and World Bank with a number of ends keeping in view, one of which is that this program would boost up the annual growth of GDP through liberalizing trade. The philosophy of comparative advantage tells that free trade can increase the GDP of the trading countries. GDP of India is found to be a stationary process. It gives a result contrary to the belief that economic reform causes a boost in the GDP. It gives however an adjusted squared 'R' as high as 99.7%. All the ‘t’ values are found highly significant. While plotted on graph, the estimated GDP line just coincides with the actual line. So this estimation can be used for the purpose of GDP forecasting. This model has tracked well the path of past movements in the value of the variable. The sector comprising Trade, Transport, Storage and Communication is found to contribute the maximum and the sector comprising Financing, Insurance, Real Estate and Business Services is found to contribute the minimum to the GDP trend under study.
2004
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/22830/1/MPRA_paper_22830.pdf
Daga, Ugam Raj and Das, Rituparna and Maheshwari, Bhishma (2004): Estimation, Analysis and Projection of India’s GDP. Published in: Schoasticus , Vol. 1, No. 2 (2004)
en
oai:mpra.ub.uni-muenchen.de:22884
2019-09-26T19:54:36Z
7374617475733D756E707562
7375626A656374733D45:4530
7375626A656374733D42:4232:423233
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/22884/
Econometric Models of Relationship among Money, Output and Prices
Das, Rituparna
E0 - General
B23 - Econometrics ; Quantitative and Mathematical Studies
This paper discusses the econometric models and tools like Granger causality and VAR discussed in ascertaining the relationship between money, output and prices. It found that Jha et al (2002) and Ahmed (2003) employed a VAR model accompanied by ECM and Johansen-Juselius procedure; others like Rangarajan et al (1990) employed simulation models containing regressions equations of variety of forms simple linear function and double logarithmic function, and also autoregressive equations of first order (AR1) and only Ray et al (1988) employed filters for prewhitening purpose i.e. making a nonstationary series stationary. The filter technique did not seem to be popular. Even Jha et al (2002) employed ADF test in order to detect the level of integration of the series and accordingly took measures to ensure stationarity.
2010
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/22884/1/MPRA_paper_22884.pdf
Das, Rituparna (2010): Econometric Models of Relationship among Money, Output and Prices.
en
oai:mpra.ub.uni-muenchen.de:22969
2019-09-30T02:39:09Z
7374617475733D707562
7375626A656374733D4C:4C33:4C3332
7375626A656374733D45:4531:453132
7375626A656374733D41:4131:413133
7375626A656374733D42:4232:423233
7375626A656374733D48:4837:483731
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/22969/
Keynesian substantiation of the marketing policies in local development
Matei, Lucica
Anghelescu, Stoica
L32 - Public Enterprises ; Public-Private Enterprises
E12 - Keynes ; Keynesian ; Post-Keynesian
A13 - Relation of Economics to Social Values
B23 - Econometrics ; Quantitative and Mathematical Studies
H71 - State and Local Taxation, Subsidies, and Revenue
The local development means the existence of several goods and services and their performance, expressed through adequate marketing policies, thus determining the overall development performance.
The paper approaches the economic fundamental issues of local development and in this context it determines the basic components of public service marketing, relevant for local development: price, multiplier of revenues/expenditures, respectively the export multiplier.
Those elements will express the ratios between resources and outcomes and their balance is based on a Keynesian model in an open economy
2010-06-15
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/22969/1/MPRA_paper_22969.pdf
Matei, Lucica and Anghelescu, Stoica (2010): Keynesian substantiation of the marketing policies in local development. Published in: 9-th International Congress of the International Association on Public and Nonprofit Marketing"Regulation and Best Practices in Public and Nonprofit Marketing" Bucharest,NSPSPA. (11 June 2010)
en
oai:mpra.ub.uni-muenchen.de:23318
2019-10-25T06:10:30Z
oai:mpra.ub.uni-muenchen.de:23582
2019-09-27T05:28:09Z
7374617475733D756E707562
7375626A656374733D4E:4E31:4E3130
7375626A656374733D4F:4F34:4F3437
7375626A656374733D41:4132:413233
7375626A656374733D43:4338:433832
7375626A656374733D42:4232:423232
7375626A656374733D45:4530:453031
7375626A656374733D4F:4F31:4F3131
7375626A656374733D50:5032:503234
7375626A656374733D42:4232:423233
7375626A656374733D42:4231:423136
7375626A656374733D50:5034:503434
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/23582/
The National Accounts as a Tool for Analysis and Policy; History, Economic Theory and Data Compilation Issues
Bos, Frits
N10 - General, International, or Comparative
O47 - Empirical Studies of Economic Growth ; Aggregate Productivity ; Cross-Country Output Convergence
A23 - Graduate
C82 - Methodology for Collecting, Estimating, and Organizing Macroeconomic Data ; Data Access
B22 - Macroeconomics
E01 - Measurement and Data on National Income and Product Accounts and Wealth ; Environmental Accounts
O11 - Macroeconomic Analyses of Economic Development
P24 - National Income, Product, and Expenditure ; Money ; Inflation
B23 - Econometrics ; Quantitative and Mathematical Studies
B16 - Quantitative and Mathematical
P44 - National Income, Product, and Expenditure ; Money ; Inflation
Without national accounts statistics, citizens, politicians, entrepreneurs and economists would be blind for the size, composition and development of national economies. This book provides a unique overview of the merits and limitations of the national accounts. Attention is paid to the three centuries old history of the national accounts and the links with economic theory, practical data compilations issues and the many uses and applications.
2009
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/23582/1/MPRA_paper_23582.pdf
Bos, Frits (2009): The National Accounts as a Tool for Analysis and Policy; History, Economic Theory and Data Compilation Issues.
en
oai:mpra.ub.uni-muenchen.de:24188
2019-09-27T09:59:33Z
7374617475733D756E707562
7375626A656374733D42:4233:423331
7375626A656374733D42:4232:423233
7375626A656374733D42:4232:423239
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/24188/
Besicovitch, Sraffa, and the existence of the Standard commodity
Salvadori, Neri
B31 - Individuals
B23 - Econometrics ; Quantitative and Mathematical Studies
B29 - Other
The proof of the existence of the Standard commodity contained in Sraffa's book (section 37) has been debated recently. Lippi (2008) has argued that the algorithm in section 37 of Sraffa’s book is not precisely stated and does not need to converge to the desired eigenvalue and eigenvector. In this paper I will show that also the proof provided by Besicovitch to Sraffa on 21 September 1944 is incomplete, but it can easily be completed.
2010-07-31
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/24188/1/MPRA_paper_24188.pdf
Salvadori, Neri (2010): Besicovitch, Sraffa, and the existence of the Standard commodity.
en
oai:mpra.ub.uni-muenchen.de:24304
2019-09-26T12:50:48Z
7374617475733D707562
7375626A656374733D41:4131
7375626A656374733D42:4232:423233
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/24304/
Historical Examination of the Golden Age of Full Employment in Western Europe
Singh, Ajt
A1 - General Economics
B23 - Econometrics ; Quantitative and Mathematical Studies
The main purpose of this paper is to review the lessons of the “Golden Age” with respect to establishing and maintaining full employment in advanced countries.
The golden age, generally regarded as spanning 1950-1973 was a unique period in West European economic history. During this period of about 25 years following the end of the Second World War, the West European economies expanded at the unprecedented rate of 5 per cent per annum, nearly twice the rate recorded during any previous phase, and more than twice the average rate of growth from 1820 to 1950.
2008
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/24304/1/MPRA_paper_24304.pdf
Singh, Ajt (2008): Historical Examination of the Golden Age of Full Employment in Western Europe. Published in: Missing Links in the Unemployment Relationship, Arestis, P and McCombie, J (eds) (2009): pp. 51-71.
en
oai:mpra.ub.uni-muenchen.de:24913
2019-09-28T20:31:28Z
7374617475733D756E707562
7375626A656374733D42:4232:423233
7375626A656374733D45:4534:453434
7375626A656374733D4D:4D34
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/24913/
Volatility Indexes seem to point to the Past
Schroeder, Gerhard
B23 - Econometrics ; Quantitative and Mathematical Studies
E44 - Financial Markets and the Macroeconomy
M4 - Accounting and Auditing
In theory, by institutional trading options (wholesale), professional market participants asses and set future volatilities that can be identified for the retail using the Black-Scholes-formula in reverse. In reality, as regression analysis suggests, it is historical market data which instead are used to determine future values. Further analysis shows that historical volatilities are insufficient predictors. Yet this questionable practice is considered by international accounting standards (IAS 39/IFRS) to allow "historical data and implied volatilities" for "reasonable estimations". In a kind of short-circuit, historical volatilities are introduced into option trading and returned as implied volatility-indexes. In reality, both differ significantly from future values. Comparing the volatility of the past nine weeks with that of the following nine weeks, estimation error ranges from four to over ten percentage points.
2009-11-05
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/24913/1/MPRA_paper_24913.pdf
Schroeder, Gerhard (2009): Volatility Indexes seem to point to the Past.
en
oai:mpra.ub.uni-muenchen.de:25281
2019-09-29T07:51:31Z
7374617475733D756E707562
7375626A656374733D42:4233:423331
7375626A656374733D42:4232:423233
7375626A656374733D42:4232:423239
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/25281/
Besicovitch, Sraffa, and the existence of the Standard commodity
Salvadori, Neri
B31 - Individuals
B23 - Econometrics ; Quantitative and Mathematical Studies
B29 - Other
The relationship between the proof of the existence of the Standard commodity contained in section 37 of Sraffa’s (1960) book and the proof supplied to Sraffa by Besicovitch on 21 September 1944 is explored. Some reasons which led Sraffa to omit this proof in his book in favor of an incomplete argument is postulated.
2010-09-21
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/25281/1/MPRA_paper_25281.pdf
Salvadori, Neri (2010): Besicovitch, Sraffa, and the existence of the Standard commodity.
en
oai:mpra.ub.uni-muenchen.de:28738
2019-09-27T04:28:48Z
7374617475733D707562
7375626A656374733D42:4232:423233
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/28738/
Colonial Origins of Inequality in Hispanic America? Some reflections based on new empirical evidence
Dobado González, Rafael / R
García Montero, Héctor / H
B23 - Econometrics ; Quantitative and Mathematical Studies
This paper attempts at contributing to the ongoing debate on the historical roots of the
high economic inequality of contemporary Iberian America. Basically empirical, our
approach departs from mainstream scholarship. We show new data on wages and
heights in several viceroyalties that: 1) suggest relatively medium to high levels of
material welfare among the commoners in Bourbon Hispanic America; 2) allow us to
build indexes of economic inequality. An international comparison of those indexes
casts some doubts on the widely accepted view that Viceroyal America’s economy was
exclusively based on extremely unequal or extractive institutions, as it has been
popularized by the influential works by Engerman and Sokoloff (1994, 2002, 2005),
Acemoglu et al. (2002).
2010
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/28738/1/MPRA_paper_28738.pdf
Dobado González, Rafael / R and García Montero, Héctor / H (2010): Colonial Origins of Inequality in Hispanic America? Some reflections based on new empirical evidence. Published in: Journal of Latin American and Iberian Economic History , Vol. 2, No. 28 (2010): pp. 253-277.
en
oai:mpra.ub.uni-muenchen.de:30207
2019-09-26T14:16:47Z
7374617475733D756E707562
7375626A656374733D42:4235:423531
7375626A656374733D42:4231
7375626A656374733D42:4232:423233
7375626A656374733D43:4336:433637
7375626A656374733D44:4432:443234
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/30207/
Wassily Leontief and Léon Walras: the Production as a Circular Flow
Akhabbar, Amanar
Lallement, Jérôme
B51 - Socialist ; Marxian ; Sraffian
B1 - History of Economic Thought through 1925
B23 - Econometrics ; Quantitative and Mathematical Studies
C67 - Input-Output Models
D24 - Production ; Cost ; Capital ; Capital, Total Factor, and Multifactor Productivity ; Capacity
Leontief’s input-output models are usually viewed as simplified classical (neo-Ricardian) models. However, this interpretation hides two opposed views.
On the one hand, the common interpretation, based on Koopmans and Samuelson’s works, considers the so-called “models of Leontief” as simplified Ricardian models, in the sense of Samuelson, which are shown to be special cases of general equilibrium theory. In their framework, general equilibrium theory might be interpreted as a generalized model of Leontief and, reversely, models of Leontief are simplified Walrasian general equilibrium models. According to this theoretical tradition, classical theory and Walrasian general equilibrium theory are intimately linked and Classical economics is an “archaic” general equilibrium theory.
On the other hand, neo-Ricardians view models of Leontief as simplified classical models that are incompatible with Walras’ general equilibrium theory. Our paper examines in details the last argument: the incompatibility argument. Such a work will require to examine in details the definition of vague categories as "Walrasian", "Classical" and so forth.
We show that incompatibility between models of Leontief and Walras’ general equilibrium theory is ultimately based on Sraffa’s worldview: “The connection of [my] work with the theories of the old classical economists has been alluded to in the preface... It is of course in Quesnay’s Tableau Economique that is found the original picture of the system of production and consumption as a circular process, and it stands in striking contrast to the view presented by modern theory of a one-way avenue that leads from ‘Factors of production’ to ‘Consumption goods’.” (Sraffa, 1960)
Neo-Ricardian’s opposition between classical economics and Walrasian theory is based on the representation of production: classical economics refers to circular flow while Marginalist theory refers to a one-way avenue production process. As it makes a sharp distinction between the two theoretical traditions, we call this criterion "Sraffa’s Guillotine". Based on Leontief’s PhD dissertation (1928) and his early input-output model (1937), the main result of our inquiry is that this criterion is powerless to distinguish Leontief’s representation of production as a circular flow and Walras one. Indeed, while Leontief based his models on Marx’ reproduction scheme, his representation of production is the same than Walras’ complete one, in striking contrast with neo-Ricardian critical apparatus. Hence we argue in favor of a pluralist interpretation of the models of Leontief: both Classical and Walrasians.
2010-12-01
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/30207/1/MPRA_paper_30207.pdf
Akhabbar, Amanar and Lallement, Jérôme (2010): Wassily Leontief and Léon Walras: the Production as a Circular Flow.
en
oai:mpra.ub.uni-muenchen.de:30208
2019-09-27T05:01:15Z
7374617475733D707562
7375626A656374733D43:4336
7375626A656374733D50:5031:503131
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https://mpra.ub.uni-muenchen.de/30208/
Input-Output in Europe: Trends in Research and Application
Akhabbar, Amanar
Antille, Gabrielle
Fontela, Emilio
Pulido, Antonio
C6 - Mathematical Methods ; Programming Models ; Mathematical and Simulation Modeling
P11 - Planning, Coordination, and Reform
C68 - Computable General Equilibrium Models
O21 - Planning Models ; Planning Policy
C67 - Input-Output Models
Y10 - Data: Tables and Charts
B23 - Econometrics ; Quantitative and Mathematical Studies
C61 - Optimization Techniques ; Programming Models ; Dynamic Analysis
A14 - Sociology of Economics
Indubitably born in the USA, input-output analysis has an important European history, from its very beginnings in the Soviet Union to the postwar huge development of I/O techniques in West and North Europe. This paper studies the European experience of input-output analysis by surveying and analyzing some of the national experiences and especially the works in Great Britain of Richard Stone and his team. We show in particular how European economists have taken leadership in I/O research since the 1950s and more recently with the creation in 1989 of the journal of the International Input-Output Association, Economic System Research. In the latter European influence tends to focus works on theoretical and methodological issues more than empirical issues and applications
2011-03-01
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/30208/1/MPRA_paper_30208.pdf
Akhabbar, Amanar and Antille, Gabrielle and Fontela, Emilio and Pulido, Antonio (2011): Input-Output in Europe: Trends in Research and Application. Published in: OEconomia , Vol. 1, No. 1
en
oai:mpra.ub.uni-muenchen.de:30209
2019-09-26T12:31:25Z
7374617475733D696E7072657373
7375626A656374733D43:4336
7375626A656374733D42:4233:423331
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7375626A656374733D4F:4F33
7375626A656374733D42:4235:423534
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/30209/
Anne P. Carter: a Biographical Presentation
Akhabbar, Amanar
C6 - Mathematical Methods ; Programming Models ; Mathematical and Simulation Modeling
B31 - Individuals
B23 - Econometrics ; Quantitative and Mathematical Studies
O3 - Innovation ; Research and Development ; Technological Change ; Intellectual Property Rights
B54 - Feminist Economics
As a case study on the status of women in the economics profession, this article analyzes the fascinating career of Anne P. Carter.
Prior to 1966 there were no women in the economics faculty at Harvard. In 1966 Carter became the first assistant professor of the Harvard Economics Department but, while she was permitted to offer seminars on topics of her choice and to advise students, she was never given any teaching assignments. Before that, while a Research Fellow at Harvard (1951-1955), she lectured at Smith College (1951-1953) and at Wellesley College (1954-1955). However, the 1970s were clearly a turn in the sense that Carter’s research interest were extended to energy and economic development issues, and that she left HERP (Wassily Leontief’s Harvard Economic Research Project) and Harvard in 1971 to move to Brandeis University in Waltham, Massachusetts. The situation of women at Harvard was still not encouraging. In 1967 she was one of the first women to become assistant professor in the Faculty of Arts and Sciences at Harvard but she felt unwelcome.
Hence, after two decades of ambiguous settlement at Harvard, Carter went to Brandeis University as visiting professor and accepted a full professorship in 1972. HERP was closed officially in 1973 and the HERP library and research materials were shipped to Brandeis. In contrast with Harvard’s “stifling constraints on women” (Carter), Brandeis offered many welcome opportunities. Carter’s career at Brandeis is dazzling: between 1972 and 1979 she directed the Brandeis Economic Research Center; she became Fred C. Hecht Professor of Economics in 1976, served as dean of the Faculty from 1981 to 1986, chair of the Department of Economics between 1987 and 1993, and was Acting Dean of Arts and Sciences 1999-2000. Carter greatly developed the department of economics at Brandeis, and in this respect her work with Peter A. Petri was crucial (see Carter and Petri 1977, 1979, 1980, 1986, 1989).
2011-01-01
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/30209/1/MPRA_paper_30209.pdf
Akhabbar, Amanar (2011): Anne P. Carter: a Biographical Presentation. Forthcoming in:
en
oai:mpra.ub.uni-muenchen.de:30210
2019-09-27T20:20:37Z
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7375626A656374733D50:5030
7375626A656374733D42:4232:423231
7375626A656374733D42:4232:423233
7375626A656374733D42:4231:423133
7375626A656374733D42:4234:423431
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/30210/
« Appliquer la théorie économique de l’équilibre général » : de Walras à Leontief
Akhabbar, Amanar
Lallement, Jerôme
P0 - General
B21 - Microeconomics
B23 - Econometrics ; Quantitative and Mathematical Studies
B13 - Neoclassical through 1925 (Austrian, Marshallian, Walrasian, Stockholm School)
B41 - Economic Methodology
The way the expresssion "applied economics" was employed changed deeply from one author to another. In this article we examine the meaning of this concept in Leon Walras' and Wassily Leontief's works regarding mathematical models of general interdependence and general equilibrium. It appears that empirical analysis played very different roles in their works but that they both considered economics should develop policy-oriented theory.
2011-01-01
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/30210/1/MPRA_paper_30210.pdf
Akhabbar, Amanar and Lallement, Jerôme (2011): « Appliquer la théorie économique de l’équilibre général » : de Walras à Leontief. Published in: Economica Editions Paris (January 2011)
fr
oai:mpra.ub.uni-muenchen.de:30348
2019-10-05T16:35:03Z
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7375626A656374733D42:4231:423134
7375626A656374733D48:4830
7375626A656374733D42:4232:423233
7375626A656374733D42:4234
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/30348/
Machine de guerre, machine de paix : le cas de l’analyse input-output comme modèle pour l’intervention publique
Akhabbar, Amanar
B14 - Socialist ; Marxist
H0 - General
B23 - Econometrics ; Quantitative and Mathematical Studies
B4 - Economic Methodology
Input-output analysis was a particular way of state intervention. Its success was due to the connection of a theory to a model and to an instrument. It was a tool for science and for action. This articulation of an explanatory, a descriptive and a prescriptive dimension may be understood as an expression of the “Modern Project” inherited from the Enlightenment. Indeed, science undertakes a double program of Truth and Progress that is analysed in this text in the case of input-output analysis.
2006-09-12
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/30348/1/MPRA_paper_30348.pdf
Akhabbar, Amanar (2006): Machine de guerre, machine de paix : le cas de l’analyse input-output comme modèle pour l’intervention publique.
fr
oai:mpra.ub.uni-muenchen.de:30453
2019-09-28T20:11:47Z
7374617475733D707562
7375626A656374733D42:4232:423231
7375626A656374733D42:4232:423233
7375626A656374733D43:4336:433637
7375626A656374733D43:4330:433031
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/30453/
Leontief et l'économie comme science empirique: la signification opérationnelle des lois
Akhabbar, Amanar
B21 - Microeconomics
B23 - Econometrics ; Quantitative and Mathematical Studies
C67 - Input-Output Models
C01 - Econometrics
From the 1930s, Leontief defended the validity of input-output analysis on the basis of a very specific epistemology: operationalism. Operationalism was not proper to Leontief but it was a common epistemological reference from the 1930s to the 1950s –especially about the status of scientific laws. The epistemological discussions around operationalism permits, in retrospect, to enlighten the debates about the theoretical foundations of the production function of Leontief.
2007
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/30453/1/MPRA_paper_30453.pdf
Akhabbar, Amanar (2007): Leontief et l'économie comme science empirique: la signification opérationnelle des lois. Published in: Economies et Sociétés , Vol. 10-11, No. 39 (2007): pp. 1745-1788.
fr
oai:mpra.ub.uni-muenchen.de:30492
2019-09-26T14:30:40Z
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7375626A656374733D42:4232:423233
7375626A656374733D41:4131:413134
7375626A656374733D42:4235
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/30492/
History of the economics department at University of Missouri-Kansas City
Lee, Frederic
B23 - Econometrics ; Quantitative and Mathematical Studies
A14 - Sociology of Economics
B5 - Current Heterodox Approaches
This essay provides a short history of the Department of Economics at UMKC from 1929 to 2010. It shows the origins of its Institutionalist roots beginning in 1946 and ends with the development of the department as a internationally known center of Post Keynesian-Institutional-heterodox economics.
2011-03-23
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/30492/2/MPRA_paper_30492.pdf
Lee, Frederic (2011): History of the economics department at University of Missouri-Kansas City.
en
oai:mpra.ub.uni-muenchen.de:30563
2019-09-28T21:18:46Z
7374617475733D707562
7375626A656374733D47:4731:473134
7375626A656374733D42:4231:423130
7375626A656374733D43:4335
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7375626A656374733D43:4337:433730
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7375626A656374733D42:4232:423233
7375626A656374733D42:4234:423431
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/30563/
Benoit Mandelbrot (1924 - 2011 ) : A Greek among Romans
Estrada, Fernando
G14 - Information and Market Efficiency ; Event Studies ; Insider Trading
B10 - General
C5 - Econometric Modeling
B1 - History of Economic Thought through 1925
B4 - Economic Methodology
C70 - General
G00 - General
G01 - Financial Crises
D7 - Analysis of Collective Decision-Making
B23 - Econometrics ; Quantitative and Mathematical Studies
B41 - Economic Methodology
Posthumous tributes to Benoit Mandelbrot (1924-2010) have highlighted his remarkable influence on the natural sciences, from geometry to meteorology, to theories with non-Euclidean spaces and geospatial models approach. Mandelbrot culminates a series of major thinkers going back to classical Greece: a Greek among Romans
2011-04-28
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/30563/1/MPRA_paper_30563.pdf
Estrada, Fernando (2011): Benoit Mandelbrot (1924 - 2011 ) : A Greek among Romans. Published in: History of Economic Ideas / Fabrizio Serra Editore / Pisa - Roma , Vol. XIX, No. 1 (17 April 2011): pp. 1-13.
en
oai:mpra.ub.uni-muenchen.de:32414
2019-09-30T15:20:29Z
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7375626A656374733D45:4536:453632
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7375626A656374733D43:4333:433333
7375626A656374733D43:4335:433533
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7375626A656374733D44:4437:443732
7375626A656374733D42:4234:423431
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/32414/
Estabilidad política y tributación
Estrada, Fernando
Mutascu, Mihai
Tiwari, Aviral
E62 - Fiscal Policy
N10 - General, International, or Comparative
B22 - Macroeconomics
C93 - Field Experiments
D53 - Financial Markets
D70 - General
E17 - Forecasting and Simulation: Models and Applications
C02 - Mathematical Methods
C72 - Noncooperative Games
E02 - Institutions and the Macroeconomy
H20 - General
O50 - General
E63 - Comparative or Joint Analysis of Fiscal and Monetary Policy ; Stabilization ; Treasury Policy
C70 - General
C33 - Panel Data Models ; Spatio-temporal Models
C53 - Forecasting and Prediction Methods ; Simulation Methods
B23 - Econometrics ; Quantitative and Mathematical Studies
A12 - Relation of Economics to Other Disciplines
C23 - Panel Data Models ; Spatio-temporal Models
D72 - Political Processes: Rent-Seeking, Lobbying, Elections, Legislatures, and Voting Behavior
B41 - Economic Methodology
The present study is, in particular, an attempt to test the relationship between tax level and political stability by using some economic control variables and to see the relationship among government effectiveness, corruption, and GDP. For the purpose, we used the Vector Autoregression (VAR) approach in the panel framework, using a country-level panel data from 59 countries for the period 2002 to 2008.
The salient features of this model are: (a) simplicity is based on a limited number of variables (five) are categorical or continuous and not dependent on complex interactions or nonlinear effects. (b) accuracy: a low level of errors, the model achieves a high percentage of accuracy in distinguishing countries with inclination to political instability, compared to countries with political stability, (c) generality: the model allows to distinguish types of political instability, both resulting from acts of violence and failure of democracies to show, and (d) novelty: the model incorporates a tool that helps evaluate and exclude many variables used by the conventional literature. This approach is mainly based on the recognition of state structures and the relations between elites and parties.
2011-07-25
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/32414/1/MPRA_paper_32414.pdf
Estrada, Fernando and Mutascu, Mihai and Tiwari, Aviral (2011): Estabilidad política y tributación.
es
oai:mpra.ub.uni-muenchen.de:33803
2019-10-02T15:14:25Z
7374617475733D756E707562
7375626A656374733D42:4232:423233
7375626A656374733D45:4536
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/33803/
Empirical testing of Balassa-Samuelson hypothesis with German and UK data
Josheski, Dushko
Koteski, Cane
Lazarov, Darko
B23 - Econometrics ; Quantitative and Mathematical Studies
E6 - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook
There are a lot of studies that test Ballasa –Samuelson hypothesis also known as Harrod-BalassaSamuelson effect directly via the effect of productivity, one possible explanation is that PER Capita GDP is not good explanation for productivity (.i.e. Labor productivity) differences; an increase (decrease) in relative efficiency of the distribution sector with respect to foreign countries induces depreciation (appreciation) of the exchange rate. After we obtained the number of co-integrated vectors we continue further to see whether the CV tells us something about the long run relationship into the model, likelihood ratio test of exactly identified restrictions test confirms that constant is insignificant variable therefore we can confirm that there is long-run relationship in which the changes in Exchange rate are positively correlated with the changes of ratio of German Consumer Price Index (CPI) to the UK Retail Price Index (RPI). In order to test for relative PPP to support the theoretical relationship between the variables, restrictions are put on the PPP knowing that PPP and that downward movement in the series indicates increase of UK price level relative to German price level. In each EC model there is an EC mechanism and coefficient on the co integrating vector measures the rate per period at which one of the endogenous variables adjusts. In the first equation the error correction mechanism is highly significant and negative. If the system is out of equilibrium, alteration in the change of the exchange rates will be downward (everything else ceteris paribus) compensating around 68% of the disequilibrium per year. In the second equation error correction mechanism is also highly significant but positive meaning that if the system is in disequilibrium changes of change in the ratio of German CPI relative to UK Retail Price index will rise offsetting 15% of the disequilibrium per year until the equilibrium rate of exchange rate will be achieved. Model implies German Labor productivity to UK Labor productivity ratio doesn’t have significant influence on explaining on relative change on prices not even on theexchange rate contrary to Pugh, Beachil study
2011-09-29
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/33803/1/MPRA_paper_33803.pdf
Josheski, Dushko and Koteski, Cane and Lazarov, Darko (2011): Empirical testing of Balassa-Samuelson hypothesis with German and UK data.
en
oai:mpra.ub.uni-muenchen.de:34382
2019-09-27T13:36:38Z
7374617475733D756E707562
7375626A656374733D44:4436:443633
7375626A656374733D43:4337:433731
7375626A656374733D42:4232:423233
7375626A656374733D51:5132:513235
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/34382/
The river sharing problem: A review of the technical literature for policy economists
Beard, Rodney
D63 - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
C71 - Cooperative Games
B23 - Econometrics ; Quantitative and Mathematical Studies
Q25 - Water
Water is essential for life. However, the basic problem of water resource allocation has
been that water tends to be over-allocated. Demand for water exceeds the available
supply. Essentially, the water economy is bankrupt. Bankruptcy problems have been
almost exhaustively studied in the literature on economic theory-primarily from the
perspective of cooperative game theory. The main concern of this literature has been how
to fairly divide up the assets of a bankrupt entity. In water resource economics cooperative
game theory has often been employed as a means of analyzing water resource
allocation. It was only recently that the problem of directional flow was incorporated into
such analyses. This has come to be known as the “river sharing problem” in the
theoretical literature. Accounting for the direction of flow in water resource allocation
problems has profound implications for policies that wish to facilitate both fair and
efficient water allocations. This is the case whether proposed policies are interventionist
or market based in nature. There is now a considerable literature on the allocation and
distribution of water resources characterized by unidirectional flow. In this paper I
critically review and appraise this literature with a view to making it more accessible to
applied and policy economists. A key feature of the paper is that the connection between
the bankruptcy literature, which has recently also realized the importance of flow, and the
river sharing literature is discussed. The current state of the art in game theoretic models
of water resource allocation with directional flow is discussed and implications and
consequences for water resource policy highlighted
2011-10-28
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/34382/1/MPRA_paper_34382.pdf
Beard, Rodney (2011): The river sharing problem: A review of the technical literature for policy economists.
en
oai:mpra.ub.uni-muenchen.de:34556
2019-09-29T20:13:35Z
7374617475733D696E7072657373
7375626A656374733D42:4232:423231
7375626A656374733D42:4232:423233
7375626A656374733D42:4232:423232
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/34556/
Tableaux économiques et analyse des business cycles chez Marschak, Frisch et Leontief
Akhabbar, Amanar
B21 - Microeconomics
B23 - Econometrics ; Quantitative and Mathematical Studies
B22 - Macroeconomics
Ragnar Frisch wrote in 1933 that "The complete macrodynamic problem, as I conceive of it, consists in describing as realistically as possible the kind of relations that exist between the various magnitudes in the Tableau Economique ..., and from the nature of these relations to explain the movements, cyclical or otherwise, of the system." My paper examines how the so-called Tableau Economique was employed by three major economists of the 20th century to make mathematical models in order to analyze business cycles, i.e. Jacob Marschak, Ragnar Frisch and Wassily Leontief. We show that the three of them used intersectorial tables to build mathematical models of business cycles. Theoretical mechanisms behind the model are very different between the three models and were inspired by Marxian, Austrian and Walrasian economics. Hence, the same interindustrial Tableau Economique supported very different analyses of business cycles. These works of Marschak, Frisch and Leontief implemented original concepts and tools like dynamic modeling, expectation theory, collective welfare functions, national accounting, and matrix algebra.
2011-09-01
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/34556/1/MPRA_paper_34556.pdf
Akhabbar, Amanar (2011): Tableaux économiques et analyse des business cycles chez Marschak, Frisch et Leontief. Forthcoming in: (2012)
fr
oai:mpra.ub.uni-muenchen.de:35744
2019-09-26T23:25:47Z
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7375626A656374733D42:4232:423233
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/35744/
A history of the histories of econometrics.
Boumans, Marcel
Dupont-Kieffer, Ariane
B23 - Econometrics ; Quantitative and Mathematical Studies
Understanding the history of econometrics as a modern science also asks for understanding of the development of the image of science, which includes the history of philosophy of science and the history of economic methodology. Beside that philosophers of science need to be historically informed, historians of science need to be philosophical informed, which mean more precisely here that they need to be informed about the developments of the philosophical ideas about science. Corry's distinction between the body and image of knowledge does not only provide a framework to write histories of econometrics, but also to write a history of these histories. From its beginnings, econometricians have considered historical knowledge as reflexive knowledge useful to delineate their discipline.
2011-12
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/35744/1/MPRA_paper_35744.pdf
Boumans, Marcel and Dupont-Kieffer, Ariane (2011): A history of the histories of econometrics. Published in: History of Political Economy , Vol. 43, No. Annual supplement : pp. 5-31.
en
oai:mpra.ub.uni-muenchen.de:38061
2019-09-28T16:48:18Z
7374617475733D756E707562
7375626A656374733D42:4232:423233
7375626A656374733D51:5134
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/38061/
CO2 Emission and Firm Heterogeneity: A Study of Metals & Metal based Industries in India
K., Narayanan
Sahu, Santosh Kumar
B23 - Econometrics ; Quantitative and Mathematical Studies
Q4 - Energy
Industrial energy efficiency has emerged as one of the key issues in India. The increasing demand for energy that leads to growing challenge of climate change has resulted major issues. It is obvious that high-energy intensity leads to high carbon intensity of the economy. This paper is an attempt to estimate the firm level CO2 emissions for the metals and metal based industries in Indian manufacturing. Calculation of firm level emissions is carried out following IPCC reference approach methodology of Carbon Dioxide emission from fuel combustion. We tried to find out the inter-firm differences of CO2 emission in the metals and metal based industries. In finding out the determinants of CO2 emission at firm level we have examined whether the firm heterogeneity matters for the differences in emission at firm level. Data for this study is collated from the CMIE PROWESS online database from 2000-2008, IEA energy statistics and IPCC conversion factors for each of the fuel types.
2012-02-22
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/38061/1/MPRA_paper_38061.pdf
K., Narayanan and Sahu, Santosh Kumar (2012): CO2 Emission and Firm Heterogeneity: A Study of Metals & Metal based Industries in India.
en
oai:mpra.ub.uni-muenchen.de:41450
2019-10-01T20:45:22Z
7374617475733D756E707562
7375626A656374733D42:4232:423233
7375626A656374733D42:4232:423232
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/41450/
New Keynesian macroeconomics : Empirically tested in the case of Republic of Macedonia
Josheski, Dushko
Lazarov, Darko
B23 - Econometrics ; Quantitative and Mathematical Studies
B22 - Macroeconomics
In this paper we test New Keynesian propositions about inflation and unemployment trade off with the New Keynesian Phillips curve and the proposition of non-neutrality of money. The main conclusion is that there is limited evidence in line with the New-Keynesian theory. Money and growth are cointegrated series and that money growth influences the economics growth with one quarter lag. Cointegration means also that if the two series are cointegrated they have long run equilibrium. St.Louis model in the paper showed overall that increase in money growth leads to decrease in the economy growth. But the effect in the equation at three quarters lag is positive. The NAIRU rate in the unemployment inflation trade off model is almost similar as high to the actual unemployment. In the New Keynesian Phillips curve not surprisingly, there appears to be no statistically significant relationship between inflation and Unemployment –even in the classical Philips curve and in adaptive expectations Philips curve by Modigliani- Papademos (1975). Or the Friedman-Phelps- Lucas expectations-augmented one between the difference of actual and expected inflation rate and the gap between actual and the natural rate of unemployment presented in the next equation.
2012-09-19
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/41450/1/MPRA_paper_41450.pdf
Josheski, Dushko and Lazarov, Darko (2012): New Keynesian macroeconomics : Empirically tested in the case of Republic of Macedonia.
en
oai:mpra.ub.uni-muenchen.de:42428
2019-09-27T11:26:41Z
7374617475733D707562
7375626A656374733D43:4333:433332
7375626A656374733D4E:4E31:4E3130
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7375626A656374733D42:4232:423233
7375626A656374733D42:4235:423530
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/42428/
The Greek Hyperinflation Revisited
Alexiou, Constantinos
Tsaliki, Persefoni
Tsoulfidis, Lefteris
C32 - Time-Series Models ; Dynamic Quantile Regressions ; Dynamic Treatment Effect Models ; Diffusion Processes ; State Space Models
N10 - General, International, or Comparative
E31 - Price Level ; Inflation ; Deflation
B23 - Econometrics ; Quantitative and Mathematical Studies
B50 - General
The objective of this paper is to gain an insight into the Greek hyperinflation that occurred during the period 1941-1946. In doing so, a relatively novel data-set in conjunction with the bound testing approach to cointegration and error correction models developed within the autoregressive distributed lag (ARDL) framework, shed additional light on the underlying long-run relationship between money supply and inflation. Granger causality tests between money supply and prices are also conducted in the effort to ascertain the direction of causality between money supply and the (hyper)inflation rate.
2008-02
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/42428/1/MPRA_paper_42428.pdf
Alexiou, Constantinos and Tsaliki, Persefoni and Tsoulfidis, Lefteris (2008): The Greek Hyperinflation Revisited. Published in: Ekonomia , Vol. 11, No. 1 (2008): pp. 19-34.
en
oai:mpra.ub.uni-muenchen.de:43457
2019-10-02T08:02:56Z
7374617475733D756E707562
7375626A656374733D42:4232:423233
7375626A656374733D51:5134
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/43457/
Energy Intensity and Firm Performance: Do Energy Clusters Matter?
Santosh Kumar, Sahu
K., Narayanan
B23 - Econometrics ; Quantitative and Mathematical Studies
Q4 - Energy
According to the basic law of supply and demand, as the cost of energy input rises, ceteris paribus, producer prefers to employ smaller quantity of energy input and substitute cheaper inputs for more expensive energy during the production process (Schurr, 1982; Jorgenson, 1984). Hence, the question arises whether determinants of profitability of firms differ based on different types of energy consumption. In analyzing this phenomenon for Indian manufacturing industries, this study tries to find out the determinants of profitability of firms based on three energy clusters (natural gas, petroleum and coal) of Indian manufacturing industries. This study uses data from the PROWESS database provided by the Center for Monitoring Indian Economy from 2000-2008. The finding of the study suggests that capital intensity, age of the firm and MNE affiliation of firms are the common determinants of profitability for different energy clusters in Indian manufacturing industries. However, the determinants of profitability differ for variables such as energy intensity, size of firm and R&D intensity and based on the choice of primary source of energy consumption. In the debate of CDM, climate change; shifting from traditional fuel sources to recent fuel source might help in reducing CO2 emissions, specifically for developing country such as India. Fiscal policies support to industries such as value-added tax exemption for new energy conservation products, import duty reduction and exemption for energy conservation technology might help Indian manufacturing industries to increase the profitability as well as energy efficiency.
2011-11-10
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/43457/1/MPRA_paper_43457.pdf
Santosh Kumar, Sahu and K., Narayanan (2011): Energy Intensity and Firm Performance: Do Energy Clusters Matter?
en
oai:mpra.ub.uni-muenchen.de:43943
2019-09-26T08:07:11Z
7374617475733D756E707562
7375626A656374733D42:4232:423233
7375626A656374733D43:4338:433837
7375626A656374733D43:4330:433031
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/43943/
Simplifying the estimation of difference in differences treatment effects with Stata
Villa, Juan M.
B23 - Econometrics ; Quantitative and Mathematical Studies
C87 - Econometric Software
C01 - Econometrics
This paper explains the insights of the Stata's user written command diff for the estimation of Difference in Differences treatment effects (DID). The options and the formulas are detailed for the single DID, Kernel Propensity Score DID, Quantile DID and the balancing properties . An example of the features of diff is presented by using the dataset from Card and Krueger (1994).
2012-11
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/43943/1/MPRA_paper_43943.pdf
Villa, Juan M. (2012): Simplifying the estimation of difference in differences treatment effects with Stata.
en
oai:mpra.ub.uni-muenchen.de:45089
2019-09-26T13:41:28Z
7374617475733D707562
7375626A656374733D42:4232:423233
7375626A656374733D52:5235:523533
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/45089/
An Application of GARCH while investigating volatility in stock returns of the World.
Subhani, Muhammad Imtiaz
Hasan, Syed Akif
Osman, Ms. Amber
B23 - Econometrics ; Quantitative and Mathematical Studies
R53 - Public Facility Location Analysis ; Public Investment and Capital Stock
A healthy stock market is a sign of sound and healthy economy. Stock market is a volatile market affected, at times directly and most often indirectly, by many micro and macroeconomic players. Of these players interest rates and exchange rates are among the ones undertaken in this study. The rationale behind this study is to ascertain the volatility in stock returns of various stock exchanges in relevance to interest rates and exchange rates over a range of 8 countries for assorted periods. GARCH (1, 1) was deployed for investigating the possible eventualities of volatilities of stock markets. The findings were found varying for Pakistan, India, Hong Kong, Japan, United States, United Kingdom, Spain and Germany. Moreover, almost for all countries GARCH (1, 1) yielded significant results confirming the existence of volatility of stock markets for the current period of outlined countries due to volatility of those stock markets during the previous lags. The findings may help investors know the stock markets’ trends which are also for some cases (nations) affected by interest rates and/or exchange rates and thus to invest accordingly.
2012
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/45089/1/MPRA_paper_45089.pdf
Subhani, Muhammad Imtiaz and Hasan, Syed Akif and Osman, Ms. Amber (2012): An Application of GARCH while investigating volatility in stock returns of the World. Published in: South Asian Journal of Management Sciences , Vol. 5, No. 2 (2012): pp. 49-59.
en
oai:mpra.ub.uni-muenchen.de:47920
2019-09-27T04:57:20Z
7374617475733D756E707562
7375626A656374733D42:4231
7375626A656374733D42:4231:423131
7375626A656374733D42:4231:423135
7375626A656374733D42:4231:423136
7375626A656374733D42:4232:423233
7375626A656374733D42:4232:423235
7375626A656374733D42:4234:423431
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/47920/
How Capitalism, University and Mathematics as Institutions Shaped Mainstream Economics
Yefimov, Vladimir
B1 - History of Economic Thought through 1925
B11 - Preclassical (Ancient, Medieval, Mercantilist, Physiocratic)
B15 - Historical ; Institutional ; Evolutionary
B16 - Quantitative and Mathematical
B23 - Econometrics ; Quantitative and Mathematical Studies
B25 - Historical ; Institutional ; Evolutionary ; Austrian
B41 - Economic Methodology
The article shows that mainstream economics, which now includes such current as new institutional economics, is the result of an evolution shaped by three institutions (capitalism, university and mathematics) by imposing to the profession of economists their founding beliefs. These beliefs are: ‘laissez-faire’; ‘economic knowledge has a priori and exegetical character’; ‘all mathematical entities exist in reality’; ‘beauty is a criterion for theoretical constructions’; ‘scientific research is a play with axioms and rules of inference’. Because of these beliefs mainstream economics, based on mathematical constructions arbitrarily borrowed from the physics of the nineteenth century, remains cognitively sterile and socially detrimental.
2012-09-29
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/47920/1/MPRA_paper_47920.pdf
Yefimov, Vladimir (2012): How Capitalism, University and Mathematics as Institutions Shaped Mainstream Economics.
en
oai:mpra.ub.uni-muenchen.de:49225
2019-10-02T08:47:41Z
7374617475733D756E707562
7375626A656374733D43:4334:433433
7375626A656374733D45:4533:453332
7375626A656374733D42:4232:423233
7375626A656374733D43:4332:433232
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/49225/
The Harvard Barometers: Did they allow for the Prediction of the Great Depression of 1929?
Escañuela Romana, Ignacio
C43 - Index Numbers and Aggregation
E32 - Business Fluctuations ; Cycles
B23 - Econometrics ; Quantitative and Mathematical Studies
C22 - Time-Series Models ; Dynamic Quantile Regressions ; Dynamic Treatment Effect Models ; Diffusion Processes
This paper reviews the possibility that the Harvard barometers would have been able to predict the Great Depression. Based on data from the ABC curves in August 1929, could the collapse of the stock market and the dramatic fall in economic activity have been predicted? It is now accepted that the Harvard barometers did not allow for the prediction of the crisis. This paper applies harmonic analysis, a well-known method at the time of the barometers, and a number of significance tests used at that historic moment. The Harvard barometers are broken down into sinusoid curves in order to check their forecast using the projection of these curves. The conclusion is: Harvard statisticians would have been able to predict the fall in speculation, as defined in curve A, but not the fall in business and money and credit conditions. Given this result, it is first questioned whether the detected regular fluctuations are an illusory effect of the composition of ABC curves, and second, whether it is useful to use such aggregate curves. It is concluded that, although aggregation does not have any predictive advantage, it is not the source of regularity.
2009-07
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/49225/8/MPRA_paper_49225.pdf
Escañuela Romana, Ignacio (2009): The Harvard Barometers: Did they allow for the Prediction of the Great Depression of 1929?
en
oai:mpra.ub.uni-muenchen.de:50389
2019-09-26T15:31:37Z
7374617475733D707562
7375626A656374733D42:4232
7375626A656374733D42:4232:423233
7375626A656374733D43:4335:433531
7375626A656374733D43:4335:433532
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/50389/
Macroeconometric Modelling in an Oil-Exporting Country: The case of Iran
Valadkhani, Abbas
B2 - History of Economic Thought since 1925
B23 - Econometrics ; Quantitative and Mathematical Studies
C51 - Model Construction and Estimation
C52 - Model Evaluation, Validation, and Selection
The critical review undertaken in this paper pinpoints some of the major deficiencies and the strength of the earlier macroeconometric models (MEMs) constructed for Iran as a major oil exporting country. In constructing a new MEM, the flaws of past MEMs should be rectified and their strengths need to be retained. Most of the equations in these models are directly and indirectly affected by oil and gas exports and/or value added in the oil sector. Two dualities are observed in most models, viz. the traditional duality of the agriculture sector and industrial modern sector, and the oil duality featured by an enclave modern oil sector with negligible links to the rest of the economy. Similar to the MEMs constructed for other developing countries, only a few models have been subject to various parametric and diagnostic tests prior to their release. Not all model-builders tested for a simultaneity problem in determining the estimation method. In future MEMs substantial attention should be placed on the equations for capital formation, price, wage, investment, exchange rate, unemployment, channels of distribution and demographic characteristics. It appears that the majority of the earlier models suffered from excessive "Keynesianism", which means the modellers gave insufficient attention to the role of the supply side in the long run.
2006
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/50389/1/MPRA_paper_50389.pdf
Valadkhani, Abbas (2006): Macroeconometric Modelling in an Oil-Exporting Country: The case of Iran. Published in: Journal of Energy and Development , Vol. 31, No. 2 (2006): pp. 261-282.
en
oai:mpra.ub.uni-muenchen.de:52427
2019-10-08T16:33:57Z
7374617475733D707562
7375626A656374733D41:4131:413132
7375626A656374733D42:4232:423233
7375626A656374733D42:4232:423235
7375626A656374733D42:4235:423532
7375626A656374733D4F:4F34:4F3433
7375626A656374733D50:5031:503136
7375626A656374733D5A:5A31:5A3130
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/52427/
Институционална еволюция на обществата към отворен достъп и пазарна размяна?
Sedlarski, Teodor
A12 - Relation of Economics to Other Disciplines
B23 - Econometrics ; Quantitative and Mathematical Studies
B25 - Historical ; Institutional ; Evolutionary ; Austrian
B52 - Institutional ; Evolutionary
O43 - Institutions and Growth
P16 - Political Economy
Z10 - General
This article investigates the analytical line of reasoning in D. North’s, J. Wallis’ and B. Weingast’s research project “Violence and Social Orders”, which unifies in an institutional explanation scheme the control over violence in human societies, the equilibrium of interests among the ruling coalition that secures the peace, and the possible transition to impersonal exchange. As the market exchange isn’t a naturally given form of organizing social interaction, but requires erecting of specific institutional settings, this study demonstrates the new institutional approach to the explanation of the developments in economic history which made free markets and the democratic state organization possible during the European Renaissance. Research projects like Nort’s, Wallis’ and Weingast’s pave the way for creating a modern political economy, which - based on a contemporary analytical apparatus – synthesizes the achievements in the social sciences of the last decades with the tradition of the early economic thought.
2012-06
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/52427/1/MPRA_paper_52427.pdf
Sedlarski, Teodor (2012): Институционална еволюция на обществата към отворен достъп и пазарна размяна? Published in: Economic Alternatives , Vol. 3, (October 2012): pp. 81-102.
bg
oai:mpra.ub.uni-muenchen.de:58488
2019-09-27T14:40:50Z
7374617475733D756E707562
7375626A656374733D42:4232:423233
7375626A656374733D43:4336:433637
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/58488/
The Demand Driven and the Supply-Sided Input-Output Models. Notes for the debate
AROCHE REYES, FIDEL
MARQUEZ MENDOZA, MARCO ANTONIO
B23 - Econometrics ; Quantitative and Mathematical Studies
C67 - Input-Output Models
The demand-driven version of the open Input-Output model determines production as a function of final demand, given the production technology. On the contrary, in the supply-sided version, value added determines output and producers must induce sales in order to achieve a desired level of income. This latter version of the model has been criticised and even rejected on the bases of its implausibility, its difficult interpretation and its bizarre implications. This paper argues however that the logic of the supply-side model is not mathematically at odds with Leontief’s arguments. Rejection of the model is a matter of theoretical interpretation
2013-01
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/58488/2/MPRA_paper_58488.pdf
AROCHE REYES, FIDEL and MARQUEZ MENDOZA, MARCO ANTONIO (2013): The Demand Driven and the Supply-Sided Input-Output Models. Notes for the debate.
en
oai:mpra.ub.uni-muenchen.de:59857
2019-10-21T04:25:08Z
7374617475733D756E707562
7375626A656374733D45:4536:453632
7375626A656374733D4E:4E31:4E3130
7375626A656374733D42:4232:423232
7375626A656374733D43:4339:433933
7375626A656374733D44:4435:443533
7375626A656374733D44:4437:443730
7375626A656374733D45:4531:453137
7375626A656374733D43:4330:433032
7375626A656374733D43:4337:433732
7375626A656374733D45:4530:453032
7375626A656374733D48:4832:483230
7375626A656374733D4F:4F35:4F3530
7375626A656374733D45:4536:453633
7375626A656374733D43:4337:433730
7375626A656374733D43:4333:433333
7375626A656374733D43:4335:433533
7375626A656374733D42:4232:423233
7375626A656374733D41:4131:413132
7375626A656374733D43:4332:433233
7375626A656374733D44:4437:443732
7375626A656374733D42:4234:423431
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/59857/
Estabilidad política y tributación
Estrada, Fernando
E62 - Fiscal Policy
N10 - General, International, or Comparative
B22 - Macroeconomics
C93 - Field Experiments
D53 - Financial Markets
D70 - General
E17 - Forecasting and Simulation: Models and Applications
C02 - Mathematical Methods
C72 - Noncooperative Games
E02 - Institutions and the Macroeconomy
H20 - General
O50 - General
E63 - Comparative or Joint Analysis of Fiscal and Monetary Policy ; Stabilization ; Treasury Policy
C70 - General
C33 - Panel Data Models ; Spatio-temporal Models
C53 - Forecasting and Prediction Methods ; Simulation Methods
B23 - Econometrics ; Quantitative and Mathematical Studies
A12 - Relation of Economics to Other Disciplines
C23 - Panel Data Models ; Spatio-temporal Models
D72 - Political Processes: Rent-Seeking, Lobbying, Elections, Legislatures, and Voting Behavior
B41 - Economic Methodology
The present study is, in particular, an attempt to test the relationship between tax level and political stability by using some economic control variables and to see the relationship among government effectiveness, corruption, and GDP. For the purpose, we used the Vector Autoregression (VAR) approach in the panel framework, using a country-level panel data from 59 countries for the period 2002 to 2008.
The salient features of this model are: (a) simplicity is based on a limited number of variables (five) are categorical or continuous and not dependent on complex interactions or nonlinear effects. (b) accuracy: a low level of errors, the model achieves a high percentage of accuracy in distinguishing countries with inclination to political instability, compared to countries with political stability, (c) generality: the model allows to distinguish types of political instability, both resulting from acts of violence and failure of democracies to show, and (d) novelty: the model incorporates a tool that helps evaluate and exclude many variables used by the conventional literature. This approach is mainly based on the recognition of state structures and the relations between elites and parties.
2014
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/59857/1/MPRA_paper_32414.pdf
Estrada, Fernando (2014): Estabilidad política y tributación.
es
oai:mpra.ub.uni-muenchen.de:60662
2019-09-28T16:50:34Z
7374617475733D756E707562
7375626A656374733D42:4231:423133
7375626A656374733D42:4231:423135
7375626A656374733D42:4231:423136
7375626A656374733D42:4232:423232
7375626A656374733D42:4232:423233
7375626A656374733D42:4232:423235
7375626A656374733D42:4234:423431
7375626A656374733D42:4235:423532
7375626A656374733D43:4332:433231
7375626A656374733D43:4332:433232
7375626A656374733D43:4335:433535
7375626A656374733D43:4338:433832
7375626A656374733D45:4536:453632
7375626A656374733D45:4536:453634
7375626A656374733D48:4832:483233
7375626A656374733D48:4832:483236
7375626A656374733D4E:4E31:4E3130
7375626A656374733D4F:4F31:4F3131
7375626A656374733D4F:4F34
7375626A656374733D4F:4F35
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/60662/
El capital en el siglo XXI de Thomas Piketty
Estrada, Fernando
B13 - Neoclassical through 1925 (Austrian, Marshallian, Walrasian, Stockholm School)
B15 - Historical ; Institutional ; Evolutionary
B16 - Quantitative and Mathematical
B22 - Macroeconomics
B23 - Econometrics ; Quantitative and Mathematical Studies
B25 - Historical ; Institutional ; Evolutionary ; Austrian
B41 - Economic Methodology
B52 - Institutional ; Evolutionary
C21 - Cross-Sectional Models ; Spatial Models ; Treatment Effect Models ; Quantile Regressions
C22 - Time-Series Models ; Dynamic Quantile Regressions ; Dynamic Treatment Effect Models ; Diffusion Processes
C55 - Large Data Sets: Modeling and Analysis
C82 - Methodology for Collecting, Estimating, and Organizing Macroeconomic Data ; Data Access
E62 - Fiscal Policy
E64 - Incomes Policy ; Price Policy
H23 - Externalities ; Redistributive Effects ; Environmental Taxes and Subsidies
H26 - Tax Evasion and Avoidance
N10 - General, International, or Comparative
O11 - Macroeconomic Analyses of Economic Development
O4 - Economic Growth and Aggregate Productivity
O5 - Economywide Country Studies
This review of the book by Thomas Piketty, the capital in the XXI century, presents the central themes of the work and exposes its scope on the relationship between inequality and wealth. In particular a positive reflections on the progressive tax is added.
2014
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/60662/1/MPRA_paper_60662.pdf
Estrada, Fernando (2014): El capital en el siglo XXI de Thomas Piketty.
es
oai:mpra.ub.uni-muenchen.de:60682
2019-09-27T12:22:02Z
7374617475733D756E707562
7375626A656374733D42:4231
7375626A656374733D42:4231:423133
7375626A656374733D42:4231:423135
7375626A656374733D42:4231:423136
7375626A656374733D42:4232:423232
7375626A656374733D42:4232:423233
7375626A656374733D42:4232:423234
7375626A656374733D42:4232:423235
7375626A656374733D42:4234:423431
7375626A656374733D42:4235:423532
7375626A656374733D43:4332:433231
7375626A656374733D43:4332:433232
7375626A656374733D43:4338:433832
7375626A656374733D45:4536:453632
7375626A656374733D45:4536:453634
7375626A656374733D48:4832:483233
7375626A656374733D48:4832:483236
7375626A656374733D4E:4E31
7375626A656374733D4F:4F31
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/60682/
Thomas Piketty’s Capital in the 21st Century
Estrada, Fernando
B1 - History of Economic Thought through 1925
B13 - Neoclassical through 1925 (Austrian, Marshallian, Walrasian, Stockholm School)
B15 - Historical ; Institutional ; Evolutionary
B16 - Quantitative and Mathematical
B22 - Macroeconomics
B23 - Econometrics ; Quantitative and Mathematical Studies
B24 - Socialist ; Marxist ; Sraffian
B25 - Historical ; Institutional ; Evolutionary ; Austrian
B41 - Economic Methodology
B52 - Institutional ; Evolutionary
C21 - Cross-Sectional Models ; Spatial Models ; Treatment Effect Models ; Quantile Regressions
C22 - Time-Series Models ; Dynamic Quantile Regressions ; Dynamic Treatment Effect Models ; Diffusion Processes
C82 - Methodology for Collecting, Estimating, and Organizing Macroeconomic Data ; Data Access
E62 - Fiscal Policy
E64 - Incomes Policy ; Price Policy
H23 - Externalities ; Redistributive Effects ; Environmental Taxes and Subsidies
H26 - Tax Evasion and Avoidance
N1 - Macroeconomics and Monetary Economics ; Industrial Structure ; Growth ; Fluctuations
O1 - Economic Development
This review of the book by Thomas Piketty, The capital in the XXI century, presents the central themes of the work and exposes its scope on the relationship between inequality and wealth. In particular a positive reflections on the progressive tax is added.
2014
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/60682/1/MPRA_paper_60682.pdf
Estrada, Fernando (2014): Thomas Piketty’s Capital in the 21st Century.
en
oai:mpra.ub.uni-muenchen.de:61207
2019-10-21T04:24:51Z
7374617475733D756E707562
7375626A656374733D45:4536:453632
7375626A656374733D4E:4E31:4E3130
7375626A656374733D42:4232:423232
7375626A656374733D43:4339:433933
7375626A656374733D44:4435:443533
7375626A656374733D44:4437:443730
7375626A656374733D45:4531:453137
7375626A656374733D43:4330:433032
7375626A656374733D43:4337:433732
7375626A656374733D45:4530:453032
7375626A656374733D48:4832:483230
7375626A656374733D4F:4F35:4F3530
7375626A656374733D45:4536:453633
7375626A656374733D43:4337:433730
7375626A656374733D43:4333:433333
7375626A656374733D43:4335:433533
7375626A656374733D42:4232:423233
7375626A656374733D41:4131:413132
7375626A656374733D43:4332:433233
7375626A656374733D44:4437:443732
7375626A656374733D42:4234:423431
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/61207/
Estabilidad política y tributación
Estrada, Fernando
E62 - Fiscal Policy
N10 - General, International, or Comparative
B22 - Macroeconomics
C93 - Field Experiments
D53 - Financial Markets
D70 - General
E17 - Forecasting and Simulation: Models and Applications
C02 - Mathematical Methods
C72 - Noncooperative Games
E02 - Institutions and the Macroeconomy
H20 - General
O50 - General
E63 - Comparative or Joint Analysis of Fiscal and Monetary Policy ; Stabilization ; Treasury Policy
C70 - General
C33 - Panel Data Models ; Spatio-temporal Models
C53 - Forecasting and Prediction Methods ; Simulation Methods
B23 - Econometrics ; Quantitative and Mathematical Studies
A12 - Relation of Economics to Other Disciplines
C23 - Panel Data Models ; Spatio-temporal Models
D72 - Political Processes: Rent-Seeking, Lobbying, Elections, Legislatures, and Voting Behavior
B41 - Economic Methodology
The present study is, in particular, an attempt to test the relationship between tax level and political stability by using some economic control variables and to see the relationship among government effectiveness, corruption, and GDP. For the purpose, we used the Vector Autoregression (VAR) approach in the panel framework, using a country-level panel data from 59 countries for the period 2002 to 2008.
The salient features of this model are: (a) simplicity is based on a limited number of variables (five) are categorical or continuous and not dependent on complex interactions or nonlinear effects. (b) accuracy: a low level of errors, the model achieves a high percentage of accuracy in distinguishing countries with inclination to political instability, compared to countries with political stability, (c) generality: the model allows to distinguish types of political instability, both resulting from acts of violence and failure of democracies to show, and (d) novelty: the model incorporates a tool that helps evaluate and exclude many variables used by the conventional literature. This approach is mainly based on the recognition of state structures and the relations between elites and parties.
2014
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/61207/1/MPRA_paper_32414.pdf
Estrada, Fernando (2014): Estabilidad política y tributación.
es
oai:mpra.ub.uni-muenchen.de:61762
2019-10-02T05:04:26Z
7374617475733D707562
7375626A656374733D42:4231
7375626A656374733D42:4231:423134
7375626A656374733D42:4232
7375626A656374733D42:4232:423233
7375626A656374733D42:4232:423234
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/61762/
La Direction centrale de la statistique et la Balance de l’économie nationale de l’URSS en 1923—24
Akhabbar, Amanar
B1 - History of Economic Thought through 1925
B14 - Socialist ; Marxist
B2 - History of Economic Thought since 1925
B23 - Econometrics ; Quantitative and Mathematical Studies
B24 - Socialist ; Marxist ; Sraffian
In 1918 the Central Statistical Administration (TsSU) was founded with the support of Lenin. Pavel Illich Popov was its first director (1918-1926). TsSU proceeded to the merging and centralization of the former decentralized statistical system of the zemstva (local governments) inherited from Tsarist regime. Between 1918 and 1928, i.e. during the civil war and the NEP, TsSU was at the heart of Soviet Statistics but it came to be controlled and eventually absorbed by Gosplan afterwards. At the TsSU Popov defended his view of social statistics as being a device for the revolution and the dictatorship of the proletariat in the political sphere while resting on strong scientific foundations in accordance with international standards. Rooted in Russian statisticians’ tradition, the objectivity and scientific nature of the works issued by the TsSU was Popov’s credo. In 1926, Popov exposed his views in a collective book he edited and published by the TsSU, The Balance of the National Economy of the USSR, 1923―24. In The Balance was exposed for the first time the modern principles of national accounting and intersectoral macroeconometric analysis. According to Popov, these were the relevant devices for social engineering in the NEP. Against “utopian” authors, Popov stressed the importance of founding social engineering and planning on economic theory and political economy. He thus explained how his statistical balance was an outgrowth of Quesnay’s Tableau économique and Marx’s schema of reproduction. Our article aims at examining Popov’s specific contribution as well as identifying its stakes and its significance in the economic debates during the 1920s.
2013
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/61762/1/MPRA_paper_61762.pdf
Akhabbar, Amanar (2013): La Direction centrale de la statistique et la Balance de l’économie nationale de l’URSS en 1923—24. Published in: OEcononmia (2014)
fr
oai:mpra.ub.uni-muenchen.de:72586
2019-09-29T15:08:57Z
7374617475733D707562
7375626A656374733D42:4232:423233
7375626A656374733D43:4331
7375626A656374733D43:4332:433233
7375626A656374733D43:4334
7375626A656374733D43:4335
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/72586/
Generalized Random Coefficient Estimators of Panel Data Models: Asymptotic and Small Sample Properties
Abonazel, Mohamed R.
B23 - Econometrics ; Quantitative and Mathematical Studies
C1 - Econometric and Statistical Methods and Methodology: General
C23 - Panel Data Models ; Spatio-temporal Models
C4 - Econometric and Statistical Methods: Special Topics
C5 - Econometric Modeling
This paper provides a generalized model for the random-coefficients panel data model where the errors are cross-sectional heteroskedastic and contemporaneously correlated as well as with the first-order autocorrelation of the time series errors. Of course, the conventional estimators, which used in standard random-coefficients panel data model, are not suitable for the generalized model. Therefore, the suitable estimator for this model and other alternative estimators have been provided and examined in this paper. Moreover, the efficiency comparisons for these estimators have been carried out in small samples and also we examine the asymptotic distributions of them. The Monte Carlo simulation study indicates that the new estimators are more reliable (more efficient) than the conventional estimators in small samples.
2016-04
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/72586/1/MPRA_paper_72586.pdf
Abonazel, Mohamed R. (2016): Generalized Random Coefficient Estimators of Panel Data Models: Asymptotic and Small Sample Properties. Published in: American Journal of Applied Mathematics and Statistics , Vol. 4, No. 2 (June 2016): pp. 46-58.
en
oai:mpra.ub.uni-muenchen.de:75314
2019-09-28T08:07:32Z
7374617475733D756E707562
7375626A656374733D42:4231:423130
7375626A656374733D42:4232:423233
7375626A656374733D43:4336:433631
7375626A656374733D44:4430:443031
7375626A656374733D44:4431:443131
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/75314/
Economics Is a Science of Time Saving: The First Tentative Model (2016)
Zhu, Drew
B10 - General
B23 - Econometrics ; Quantitative and Mathematical Studies
C61 - Optimization Techniques ; Programming Models ; Dynamic Analysis
D01 - Microeconomic Behavior: Underlying Principles
D11 - Consumer Economics: Theory
Time might be the scarcest resource for every individual. Time saving could be one of a few specific starting points of Economics. According to the new attribute theory that is based on Lancaster’s attribute theory, the paper constructs a linear programming model with an objective function of time saving that is independent of any utility function. Then the demand function of the time saving good can be derived with a programming method, which is different from the parametric and typically non-parametric methods. Because some data was unavailable, the empirical research of this paper cannot directly derive the demand function from the programming model. Thus another method is used to derive the demand function and the predictive power of this function is at least as good as that of the most common econometric models. Further, as a basic human behavior, time saving could be generalized to other fundamental theories of Economics, especially the long-run growth theory. Therefore, in the ultimate meaning, the conclusion is that Economics is a science of how to save time and time saving might be a milestone that will shift Economics towards a modern science.
2016-11-21
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/75314/1/MPRA_paper_75314.pdf
Zhu, Drew (2016): Economics Is a Science of Time Saving: The First Tentative Model (2016).
en
oai:mpra.ub.uni-muenchen.de:76210
2019-10-10T10:55:50Z
7374617475733D707562
7375626A656374733D42:4232:423232
7375626A656374733D42:4232:423233
7375626A656374733D43:4331:433133
7375626A656374733D43:4332:433232
7375626A656374733D43:4338:433832
7375626A656374733D4E:4E31:4E3131
7375626A656374733D4E:4E31:4E3132
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/76210/
Rare Events in the American GDP Time Series, 1790-Present: Fact or Artefact
Chikhi, Mohamed
Diebolt, Claude
B22 - Macroeconomics
B23 - Econometrics ; Quantitative and Mathematical Studies
C13 - Estimation: General
C22 - Time-Series Models ; Dynamic Quantile Regressions ; Dynamic Treatment Effect Models ; Diffusion Processes
C82 - Methodology for Collecting, Estimating, and Organizing Macroeconomic Data ; Data Access
N11 - U.S. ; Canada: Pre-1913
N12 - U.S. ; Canada: 1913-
This paper studies the cyclical behaviour of the annual American Gross Domestic Product (GDP) series. We show that rare events have varied effects, which give useful information on the nature and the amplitude of economic shocks. Our methodology is, more precisely, an efficient testing procedure to control the robustness of historical time series constructions.
2010
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/76210/1/MPRA_paper_76210.pdf
Chikhi, Mohamed and Diebolt, Claude (2010): Rare Events in the American GDP Time Series, 1790-Present: Fact or Artefact. Published in: Cahiers du CREAD No. 92 (2010): pp. 25-41.
en
oai:mpra.ub.uni-muenchen.de:76825
2019-10-10T13:58:17Z
7374617475733D756E707562
7375626A656374733D42:4232:423232
7375626A656374733D42:4232:423233
7375626A656374733D42:4234:423431
7375626A656374733D43:4335:433532
7375626A656374733D45:4533:453331
7375626A656374733D4F:4F34:4F3431
7375626A656374733D4F:4F34:4F3437
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/76825/
Publish and Perish: Creative Destruction and Macroeconomic Theory
Chatelain, Jean-Bernard
Ralf, Kirsten
B22 - Macroeconomics
B23 - Econometrics ; Quantitative and Mathematical Studies
B41 - Economic Methodology
C52 - Model Evaluation, Validation, and Selection
E31 - Price Level ; Inflation ; Deflation
O41 - One, Two, and Multisector Growth Models
O47 - Empirical Studies of Economic Growth ; Aggregate Productivity ; Cross-Country Output Convergence
Macroeconomic theories of the 1980s faced accelerated depreciation when not sudden death. By contrast with econometrics and microeconomics and despite massive progress in access to data and the use of statistical softwares, macroeconomic theory appears not to be a cumulative science so far. When attempts are done to settle controversies by "nature" (testing the theories), they are designed to fail due to Gresham's law of selecting theories based on too many parameters, which are weakly or non-identified when testing them. Two examples are provided, one in growth theory and testing convergence, one in business cycles theory and testing inflation persistence.
2017-02-13
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/76825/1/MPRA_paper_76825.pdf
Chatelain, Jean-Bernard and Ralf, Kirsten (2017): Publish and Perish: Creative Destruction and Macroeconomic Theory.
en
oai:mpra.ub.uni-muenchen.de:79194
2019-09-26T18:08:42Z
7374617475733D756E707562
7375626A656374733D42:4232:423233
7375626A656374733D43:4331
7375626A656374733D43:4333:433338
7375626A656374733D43:4334
7375626A656374733D43:4334:433435
7375626A656374733D43:4335:433538
7375626A656374733D43:4336
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/79194/
CDS Rate Construction Methods by Machine Learning Techniques
Brummelhuis, Raymond
Luo, Zhongmin
B23 - Econometrics ; Quantitative and Mathematical Studies
C1 - Econometric and Statistical Methods and Methodology: General
C38 - Classification Methods ; Cluster Analysis ; Principal Components ; Factor Models
C4 - Econometric and Statistical Methods: Special Topics
C45 - Neural Networks and Related Topics
C58 - Financial Econometrics
C6 - Mathematical Methods ; Programming Models ; Mathematical and Simulation Modeling
Regulators require financial institutions to estimate counterparty default risks from liquid CDS quotes for the valuation and risk management of OTC derivatives. However, the vast majority of counterparties do not have liquid CDS quotes and need proxy CDS rates. Existing methods cannot account for counterparty-specific default risks; we propose to construct proxy CDS rates by associating to illiquid counterparty liquid CDS Proxy based on Machine Learning
Techniques. After testing 156 classifiers from 8 most popular classifier families, we found that some classifiers achieve highly satisfactory accuracy rates. Furthermore, we have rank-ordered the performances and investigated performance variations amongst and within the 8 classifier
families. This paper is, to the best of our knowledge, the first systematic study of CDS Proxy construction by Machine Learning techniques, and the first systematic classifier comparison study based entirely on financial market data. Its findings both confirm and contrast existing classifier performance literature. Given the typically highly correlated nature of financial data, we investigated
the impact of correlation on classifier performance. The techniques used in this paper should be of interest for financial institutions seeking a CDS Proxy method, and can serve for proxy construction for other financial variables. Some directions for future research are indicated.
2017-05-12
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/79194/1/MPRA_paper_79194.pdf
Brummelhuis, Raymond and Luo, Zhongmin (2017): CDS Rate Construction Methods by Machine Learning Techniques.
en
oai:mpra.ub.uni-muenchen.de:81279
2020-02-12T09:35:22Z
oai:mpra.ub.uni-muenchen.de:81672
2019-10-10T12:27:45Z
7374617475733D707562
7375626A656374733D42:4232:423233
7375626A656374733D43:4330:433031
7375626A656374733D43:4335:433533
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/81672/
Forecasting with Econometric Methods: Folklore Versus Fact
Armstrong, J. Scott
B23 - Econometrics ; Quantitative and Mathematical Studies
C01 - Econometrics
C53 - Forecasting and Prediction Methods ; Simulation Methods
Evidence from social psychology suggests that econometricians will avoid evidence that disconfirms their beliefs. Two beliefs of econometricians were examined: (1) Econometric methods provide more accurate short-term forecasts than do other methods; and (2) more complex econometric methods yield more accurate forecasts. A survey of 21 experts in econometrics found that 95% agreed with the first statement and 72% agreed with the second. A review of the published empirical evidence yielded little support for either of the two statements in the 41 studies. The method of multiple hypotheses was suggested as a research strategy that will lead to more effective use of disconfirming evidence. Although this strategy was suggested in 1890, it has only recently been used by econometricians.
1978-10
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/81672/1/MPRA_paper_81672.pdf
Armstrong, J. Scott (1978): Forecasting with Econometric Methods: Folklore Versus Fact. Published in: Journal of Business No. 51 (1978): pp. 549-564.
en
oai:mpra.ub.uni-muenchen.de:81794
2019-09-26T12:40:32Z
7374617475733D756E707562
7375626A656374733D42:4232:423233
7375626A656374733D48:4830
7375626A656374733D4F:4F31:4F3131
7375626A656374733D51:5134
7375626A656374733D51:5134:513438
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/81794/
Investissement public et croissance économique au Cameroun
Bendoma, Marius
Messiné Essomba, Cyrille
B23 - Econometrics ; Quantitative and Mathematical Studies
H0 - General
O11 - Macroeconomic Analyses of Economic Development
Q4 - Energy
Q48 - Government Policy
The present study analyzes the effect of the public investment on the economic growth in Cameroon. It is a question of appreciating the direct effect of the public investment on the growth on the one hand, and of highlighting the indirect effect of this last on the economic growth through private investment in addition. The econometric regression, using a modeling by method ARDL worked out by Pesaran et al. (2001), we end to the following results: (i) the public investment impacts negatively the long-term growth; (ii) no effect of drive of the private investment by the public investment is observed, and (iii) any shock on economic growth observed within a given year is may be entirely integrated within a period of two year.
2017-06-21
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/81794/1/MPRA_paper_81794.pdf
Bendoma, Marius and Messiné Essomba, Cyrille (2017): Investissement public et croissance économique au Cameroun.
fr
oai:mpra.ub.uni-muenchen.de:87288
2019-09-26T20:07:39Z
7374617475733D707562
7375626A656374733D41:4131:413130
7375626A656374733D41:4131:413134
7375626A656374733D41:4132:413230
7375626A656374733D42:4232
7375626A656374733D42:4232:423230
7375626A656374733D42:4232:423232
7375626A656374733D42:4232:423233
7375626A656374733D42:4235
7375626A656374733D42:4235:423530
7375626A656374733D43:4331
7375626A656374733D43:4331:433130
7375626A656374733D43:4335
7375626A656374733D43:4335:433534
7375626A656374733D46:4630
7375626A656374733D46:4630:463030
7375626A656374733D48:4830:483030
7375626A656374733D48:4838
7375626A656374733D48:4838:483833
7375626A656374733D49:4931
7375626A656374733D49:4931:493135
7375626A656374733D49:4931:493138
7375626A656374733D49:4933
7375626A656374733D49:4933:493331
7375626A656374733D4E:4E34
7375626A656374733D4E:4E34:4E3430
7375626A656374733D4F:4F31
7375626A656374733D4F:4F31:4F3130
7375626A656374733D4F:4F32
7375626A656374733D4F:4F32:4F3231
7375626A656374733D4F:4F33:4F3335
7375626A656374733D4F:4F33:4F3338
7375626A656374733D50:5034
7375626A656374733D50:5034:503431
7375626A656374733D50:5034:503433
7375626A656374733D51:5135:513530
7375626A656374733D59:5934:593430
7375626A656374733D5A:5A31
7375626A656374733D5A:5A31:5A3133
7375626A656374733D5A:5A31:5A3138
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/87288/
Beyond GDP - Measuring the Wealth of Nations
Wenzel, Tina
A10 - General
A14 - Sociology of Economics
A20 - General
B2 - History of Economic Thought since 1925
B20 - General
B22 - Macroeconomics
B23 - Econometrics ; Quantitative and Mathematical Studies
B5 - Current Heterodox Approaches
B50 - General
C1 - Econometric and Statistical Methods and Methodology: General
C10 - General
C5 - Econometric Modeling
C54 - Quantitative Policy Modeling
F0 - General
F00 - General
H00 - General
H8 - Miscellaneous Issues
H83 - Public Administration ; Public Sector Accounting and Audits
I1 - Health
I15 - Health and Economic Development
I18 - Government Policy ; Regulation ; Public Health
I3 - Welfare, Well-Being, and Poverty
I31 - General Welfare, Well-Being
N4 - Government, War, Law, International Relations, and Regulation
N40 - General, International, or Comparative
O1 - Economic Development
O10 - General
O2 - Development Planning and Policy
O21 - Planning Models ; Planning Policy
O35 - Social Innovation
O38 - Government Policy
P4 - Other Economic Systems
P41 - Planning, Coordination, and Reform
P43 - Public Economics ; Financial Economics
Q50 - General
Y40 - Dissertations (unclassified)
Z1 - Cultural Economics ; Economic Sociology ; Economic Anthropology
Z13 - Economic Sociology ; Economic Anthropology ; Social and Economic Stratification
Z18 - Public Policy
This work devotes analysis to the consistency of the idea to measure the Wealth of Nations beyond GDP. Looking at the desirability, utility and feasibility of the concept, the main objective is to outline whether a socially and environmentally adjusted GDP would be able to have a real policy effect in the direction of sustainability.
Section I discusses the desirability of the issue and suggests that our current paradigm of progress needs serious rethinking, as it rests on teleological presuppositions prevalent in the 17th and 18th century - an antiquated mechanical world view, developed by Descartes and Newton. In this context, the historical ascendency of GDP is discussed, outlining its rise and demise.
Section II then discusses the utility of an adjusted GDP. Departing from an analysis of the growth elasticities of poverty (health and literacy), which gives empirical evidence on the insufficient correlation of GDP per capita and living standards, conventional GDP will then be weight against the alternative measures. An environmental adjustment will thereby be found justified on the ground of efficiency gain effects occurring along the allocation of resources and health expenditure among others, suggesting that the conventional GDP is inefficient and an economically irrational model to guide progress. Concerns will however be raised about the possible inflationary effect of a social adjustment, which is politically unfeasible under the current paradigm of progress and requires further research in terms of measurement techniques.
Section III then suggests that the feasibility is a political question. Taking the Case study of the failed Green GDP attempt in China, lessons learnt will be formalised on which I conclude with suggestions under which circumstances an adjusted GDP would be able to have a real policy effect in the direction of sustainability.
2009-01-01
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/87288/1/MPRA_paper_87288.pdf
Wenzel, Tina (2009): Beyond GDP - Measuring the Wealth of Nations. Published in: Munich, GRIN Verlag (March 2009)
en
oai:mpra.ub.uni-muenchen.de:89058
2019-10-01T16:55:42Z
7374617475733D707562
7375626A656374733D42:4232
7375626A656374733D42:4232:423233
7375626A656374733D42:4232:423235
7375626A656374733D42:4234
7375626A656374733D43:4336:433633
7375626A656374733D4E:4E37:4E3735
7375626A656374733D4E:4E39:4E3935
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/89058/
Aux prémices des humanités numériques? La première analyse automatisée d'un réseau économique ancien (Gardin Garelli, 1961). Réalisation, conceptualisation, réception
Plutniak, Sébastien
B2 - History of Economic Thought since 1925
B23 - Econometrics ; Quantitative and Mathematical Studies
B25 - Historical ; Institutional ; Evolutionary ; Austrian
B4 - Economic Methodology
C63 - Computational Techniques ; Simulation Modeling
N75 - Asia including Middle East
N95 - Asia including Middle East
From as early as the 1950s, J.C. Gardin's work spanned both archaeology and the emerging automation of numerical computation and documentation. In 1961, with P. Garelli, he published the first automated application of graph theory to historical materials, working from Assyrian cuneiform tablets documenting economic relations. This work was then widely ignored both in archeology and network analysis. However, in the past twenty years, socio-epistemic claims related to the growth of the Internet and computing (digital humanities, computational archaeology, etc.) have brought a surge of interest in Gardin's work, which is now regarded as pioneering. Working from archive materials and publications, this paper shows how a historical sociology of scientific writings can be relevant to the history of automation in historical sciences. The paper examines Gardin's recognition as an influential forerunner of computational archeology, showing that : 1) although Gardin had access to resources (financial, instrumental, etc.) that were rare at the time, and could have provided material for the foundation of a school or a specialty, he did not however pursue this ambition; 2) the demonstrative purposes pursued by Gardin with his study of 1961 economic networks varied between the 1960s (demonstrating the relevance of non-numerical computation) and the 1980s (legitimizing simulation in the social sciences), but were never concerned with network analysis as such.
2018-09-18
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/89058/1/ARCSart03_plutniak2018.pdf
Plutniak, Sébastien (2018): Aux prémices des humanités numériques? La première analyse automatisée d'un réseau économique ancien (Gardin Garelli, 1961). Réalisation, conceptualisation, réception. Published in: ARCS. Analyse de réseaux pour les sciences sociales , Vol. 1, (17 September 2018)
fr
oai:mpra.ub.uni-muenchen.de:89746
2019-09-30T07:39:04Z
7374617475733D756E707562
7375626A656374733D41:4131:413131
7375626A656374733D42:4232:423233
7375626A656374733D42:4234:423431
7375626A656374733D45:4536:453632
7375626A656374733D48:4836:483632
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/89746/
A Modest Proposal For Augmenting The Gross Domestic Product Of Italy, Allowing Greater Public Spending, Employment, And Graft
Fenoaltea, Stefano
A11 - Role of Economics ; Role of Economists ; Market for Economists
B23 - Econometrics ; Quantitative and Mathematical Studies
B41 - Economic Methodology
E62 - Fiscal Policy
H62 - Deficit ; Surplus
Italy’s economy is stagnating, but a fiscal stimulus is ruled out by the Maastricht-limited deficit/GDP ratio. This paper presents a modest proposal for loosening the constraint on public spending by augmenting Italy’s female labor-force participation rate and therewith Italy’s GDP. Additional public spending would be popular, as it would increase employment; it would also be politically viable, as Italy’s elected and appointed officials would welcome the opportunity for increased graft.
2018-10-28
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/89746/1/MPRA_paper_89746.pdf
Fenoaltea, Stefano (2018): A Modest Proposal For Augmenting The Gross Domestic Product Of Italy, Allowing Greater Public Spending, Employment, And Graft.
en
oai:mpra.ub.uni-muenchen.de:93327
2019-09-29T00:38:18Z
7374617475733D707562
7375626A656374733D42:4232:423232
7375626A656374733D42:4232:423233
7375626A656374733D42:4233:423331
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/93327/
Circulation du capital et explication du changement économique chez Marschak, Frisch et Leontief
Akhabbar, Amanar
B22 - Macroeconomics
B23 - Econometrics ; Quantitative and Mathematical Studies
B31 - Individuals
We analyze a series of macroeconometric models developed in the years of high theory by Marschak, Frisch and Leontief. These models share an explanation of growth, cycles and fluctuations (“economic change”) based on the analysis of the circulation of capital goods among producers. They disaggregate the macroeconomic production function so as to introduce multiple producers and capital goods. We show that these models offer two main explanations of economic change: one is based on the spread of technological change through the producers’ exchanges network; the other is based on the coordination problems between producers in the capital circulation process.
2014
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/93327/1/MPRA_paper_93327.pdf
Akhabbar, Amanar (2014): Circulation du capital et explication du changement économique chez Marschak, Frisch et Leontief. Published in: Cahiers d'économie politique , Vol. 2, No. 67 (2014): pp. 119-157.
fr
oai:mpra.ub.uni-muenchen.de:93328
2019-10-07T12:39:12Z
7374617475733D707562
7375626A656374733D42:4230:423030
7375626A656374733D42:4232:423231
7375626A656374733D42:4232:423232
7375626A656374733D42:4232:423233
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/93328/
Introduction : Malaise dans la science économique ?
Akhabbar, Amanar
B00 - General
B21 - Microeconomics
B22 - Macroeconomics
B23 - Econometrics ; Quantitative and Mathematical Studies
This is the introductive chapter to the book "Wassily Leontief and Economics", published in February 2019 (ENS editions). Economists produce their statements and forecasts from devices articulating abstract theories with mathematical models and statistical instruments of measurement. What is the empirical significance of these theories, models and instruments? We consider this question from the reflection of Wassily Leontief, 1973 Nobel Prize winner, on the role of mathematics and statistical analysis in economics. His perspective makes it possible to reconsider why, in economics, "the connection does not go by itself" between the theory and the observation, according to the expression of Alain Desrosières. We reconstruct Leontief’s methodology of economics as an empirical science. From there, we show how the input-output device paves the way to empirical and disaggregated macroeconomics.
2019
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/93328/1/MPRA_paper_93328.pdf
Akhabbar, Amanar (2019): Introduction : Malaise dans la science économique ? Published in:
fr
oai:mpra.ub.uni-muenchen.de:95501
2019-10-04T20:41:14Z
7374617475733D707562
7375626A656374733D42:4232:423232
7375626A656374733D42:4232:423233
7375626A656374733D42:4234:423431
7375626A656374733D43:4335:433532
7375626A656374733D45:4533:453331
7375626A656374733D4F:4F34:4F3431
7375626A656374733D4F:4F34:4F3437
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/95501/
Publish and Perish: Creative Destruction and Macroeconomic Theory
Chatelain, Jean-Bernard
Ralf, Kirsten
B22 - Macroeconomics
B23 - Econometrics ; Quantitative and Mathematical Studies
B41 - Economic Methodology
C52 - Model Evaluation, Validation, and Selection
E31 - Price Level ; Inflation ; Deflation
O41 - One, Two, and Multisector Growth Models
O47 - Empirical Studies of Economic Growth ; Aggregate Productivity ; Cross-Country Output Convergence
A number of macroeconomic theories, very popular in the 1980s, seem to have completely disappeared and been replaced by the dynamic stochastic general equilibrium (DSGE) approach. We will argue that this replacement is due to a tacit agreement on a number of assumptions, previously seen as mutually exclusive, and not due to a settlement by ‘nature’. As opposed to econometrics and microeconomics and despite massive progress in the access to data and the use of statistical software, macroeconomic theory appears not to be a cumulative science so far. Observational equivalence of different models and the problem of identification of parameters of the models persist as will be highlighted by examining two examples: one in growth theory and a second in testing inflation persistence.
2018-02-13
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/95501/8/MPRA_paper_95501.pdf
Chatelain, Jean-Bernard and Ralf, Kirsten (2018): Publish and Perish: Creative Destruction and Macroeconomic Theory. Published in: History of Economic Ideas , Vol. 2, No. 26 (2018): pp. 65-101.
en
oai:mpra.ub.uni-muenchen.de:97119
2019-11-27T00:48:34Z
7374617475733D707562
7375626A656374733D42:4231:423135
7375626A656374733D42:4231:423136
7375626A656374733D42:4232:423233
7375626A656374733D42:4232:423235
7375626A656374733D42:4233:423331
7375626A656374733D4E:4E30:4E3031
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/97119/
Produire un fait scientifique: Beveridge et le Comité international d'histoire des prix
Demade, Julien
B15 - Historical ; Institutional ; Evolutionary
B16 - Quantitative and Mathematical
B23 - Econometrics ; Quantitative and Mathematical Studies
B25 - Historical ; Institutional ; Evolutionary ; Austrian
B31 - Individuals
N01 - Development of the Discipline: Historiographical; Sources and Methods
This book tells the story of a largely forgotten enterprise: that of the International Scientific Committee on Price History. If this endeavour can nevertheless still be of interest today, it is not only because failures offer insights into social dynamics as well as successes do ; nor is it solely because we find, gathered around this failed enquiry, a slew of very famous names, and names indeed which one would not expect to stumble upon in this context – there is Beveridge and Kautsky, Bloch and Malinowski. First and foremost, it is because the object of this enquiry offers a rare opportunity to bridge the divide between national scientific traditions as well as between disciplines – such as history and economy, or epistemology and the sociology of scientific knowledge. Thus, the initially narrow scope of this study opens up to a vast field of enquiry, as the object of this study shifts to determining how a particular class of objects – those deemed scientific – are produced, and how epistemological, theoretical and institutional issues interact in this process. Indeed, the conversion of past prices (as they appear in the archives) into historical prices taken as scientific facts, raises diverse and crucial questions : on the respective standing of social and natural sciences, about monetarism, or on the transition from the academic field of the Humboldtian scholar to that of big science. Viewed through the prism of this particular case, these issues will appear in a new light for the simple reason that, in the case at hand, fields of enquiry which are ordinarily examined independently are found to be tightly interrelated.
2018
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/97119/1/MPRA_paper_97119.pdf
Demade, Julien (2018): Produire un fait scientifique: Beveridge et le Comité international d'histoire des prix. Published in: Éditions de la Sorbonne, Homme et Société , Vol. 57, (2018)
fr
oai:mpra.ub.uni-muenchen.de:100748
2020-06-01T04:51:29Z
7374617475733D756E707562
7375626A656374733D42:4232:423233
7375626A656374733D43:4335:433531
7375626A656374733D45:4536:453630
7375626A656374733D46:4634:463433
7375626A656374733D48:4832
7375626A656374733D48:4832:483231
7375626A656374733D4F:4F34:4F3437
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/100748/
Macroeconometric Approach: Optimal Taxation Policies for Economic Growth in Emerging Asia
Jayasooriya, Sujith
B23 - Econometrics ; Quantitative and Mathematical Studies
C51 - Model Construction and Estimation
E60 - General
F43 - Economic Growth of Open Economies
H2 - Taxation, Subsidies, and Revenue
H21 - Efficiency ; Optimal Taxation
O47 - Empirical Studies of Economic Growth ; Aggregate Productivity ; Cross-Country Output Convergence
Innovative and evidence-based public economic policies are vital for the provision of efficient public services in emerging economies. Many
developing countries require privation of optimal taxation system to promote economic growth. The research question intends to identify the optimal taxation policies and impact of taxation on economic growth in emerging Asia. Rationale for the research is to provide pragmatic evidences to build up tax systems that generate optimal tax revenues in an equitable manner and facilitation of taxation for economic growth. Macroeconometric approach is used to (i) estimate the Laffer curve for Asia with Generalized Method of Moments (GMM) in factors affecting optimal taxation. (ii) Fully Modified OLS (FMOLS), Dynamic OLS (DOLS) and Conical Cointegration Regression (CCR) are used to estimate the cointegration equation for the impact of taxation on economic growth using the World Bank data from 1990 to 2015. The empirical results indicate, across estimation methods and specifications, that the determinants of optimal taxation over estimation of Laffer curve are tax-rate, tax-rate2 and debt negatively significant, while tax-rate*debt, unemployment rate, foreign direct investment, and openness are positively significant. Further, comparative empirical evidences show that the positive economic growth promoting factors is tax revenue, trade openness and foreign direct investment, whereas negatively significant factors are tax-rate, unemployment rate and debt. The implications of the study are to deliberate on the macroeconomic determinants of the optimal taxation for reform the tax systems in emerging Asia. Finally, the paper guides policymakers to reform tax systems with empirical evidences on impacts of public economic policies to improve optimal taxation for the economic growth in Asia.
2020-05-29
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/100748/1/MPRA_paper_100748.pdf
Jayasooriya, Sujith (2020): Macroeconometric Approach: Optimal Taxation Policies for Economic Growth in Emerging Asia.
en
oai:mpra.ub.uni-muenchen.de:100749
2020-06-05T16:42:33Z
7374617475733D707562
7375626A656374733D42:4232:423233
7375626A656374733D43:4330:433031
7375626A656374733D43:4334
7375626A656374733D43:4335
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/100749/
Estimating the Number of Patents in the World Using Count Panel Data Models
Youssef, Ahmed H.
Abonazel, Mohamed R.
Ahmed, Elsayed G.
B23 - Econometrics ; Quantitative and Mathematical Studies
C01 - Econometrics
C4 - Econometric and Statistical Methods: Special Topics
C5 - Econometric Modeling
In this paper, we review some estimators of count regression (Poisson and negative binomial) models in
panel data modeling. These estimators based on the type of the panel data model (the model with fixed or
random effects). Moreover, we study and compare the performance of these estimators based on a real
dataset application. In our application, we study the effect of some economic variables on the number of
patents for seventeen high-income countries in the world over the period from 2005 to 2016. The results
indicate that the negative binomial model with fixed effects is the better and suitable for data, and the
important (statistically significant) variables that effect on the number of patents in high-income countries
are research and development (R&D) expenditures and gross domestic product (GDP) per capita.
2020-03-19
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/100749/1/MPRA_paper_100749.pdf
Youssef, Ahmed H. and Abonazel, Mohamed R. and Ahmed, Elsayed G. (2020): Estimating the Number of Patents in the World Using Count Panel Data Models. Published in: Asian Journal of Probability and Statistics , Vol. 6, No. 4 (19 March 2020): pp. 24-33.
en
oai:mpra.ub.uni-muenchen.de:103235
2020-10-12T20:45:18Z
7374617475733D756E707562
7375626A656374733D41:4131
7375626A656374733D41:4131:413130
7375626A656374733D41:4131:413131
7375626A656374733D41:4131:413132
7375626A656374733D41:4131:413133
7375626A656374733D41:4131:413134
7375626A656374733D41:4132
7375626A656374733D41:4132:413230
7375626A656374733D41:4132:413232
7375626A656374733D41:4132:413233
7375626A656374733D42:4231:423132
7375626A656374733D42:4231:423133
7375626A656374733D42:4232:423230
7375626A656374733D42:4232:423231
7375626A656374733D42:4232:423232
7375626A656374733D42:4232:423233
7375626A656374733D42:4232:423239
7375626A656374733D42:4234:423430
7375626A656374733D42:4235
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7375626A656374733D4C:4C33:4C3333
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7375626A656374733D4F:4F34:4F3433
7375626A656374733D4F:4F35:4F3531
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7375626A656374733D59:5938:593830
7375626A656374733D5A:5A31:5A3133
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/103235/
Establishing a comprehensive census of undergraduate economics curricula:Foundational and special requirements for major programs in the U.S.
Turner, Grant
A1 - General Economics
A10 - General
A11 - Role of Economics ; Role of Economists ; Market for Economists
A12 - Relation of Economics to Other Disciplines
A13 - Relation of Economics to Social Values
A14 - Sociology of Economics
A2 - Economic Education and Teaching of Economics
A20 - General
A22 - Undergraduate
A23 - Graduate
B12 - Classical (includes Adam Smith)
B13 - Neoclassical through 1925 (Austrian, Marshallian, Walrasian, Stockholm School)
B20 - General
B21 - Microeconomics
B22 - Macroeconomics
B23 - Econometrics ; Quantitative and Mathematical Studies
B29 - Other
B40 - General
B5 - Current Heterodox Approaches
B50 - General
C0 - General
C00 - General
C01 - Econometrics
C02 - Mathematical Methods
C83 - Survey Methods ; Sampling Methods
C90 - General
D29 - Other
D70 - General
D83 - Search ; Learning ; Information and Knowledge ; Communication ; Belief ; Unawareness
E00 - General
I2 - Education and Research Institutions
I20 - General
I21 - Analysis of Education
I23 - Higher Education ; Research Institutions
I25 - Education and Economic Development
I29 - Other
J11 - Demographic Trends, Macroeconomic Effects, and Forecasts
J24 - Human Capital ; Skills ; Occupational Choice ; Labor Productivity
J44 - Professional Labor Markets ; Occupational Licensing
L15 - Information and Product Quality ; Standardization and Compatibility
L20 - General
L23 - Organization of Production
L25 - Firm Performance: Size, Diversification, and Scope
L32 - Public Enterprises ; Public-Private Enterprises
L33 - Comparison of Public and Private Enterprises and Nonprofit Institutions ; Privatization ; Contracting Out
L84 - Personal, Professional, and Business Services
M29 - Other
N00 - General
N01 - Development of the Discipline: Historiographical; Sources and Methods
N30 - General, International, or Comparative
N32 - U.S. ; Canada: 1913-
O30 - General
O43 - Institutions and Growth
O51 - U.S. ; Canada
P46 - Consumer Economics ; Health ; Education and Training ; Welfare, Income, Wealth, and Poverty
Y40 - Dissertations (unclassified)
Y80 - Related Disciplines
Z13 - Economic Sociology ; Economic Anthropology ; Social and Economic Stratification
This study is the first of a series of studies, collectively embodying a multiphase mixed methods design. The overall objective of these studies is to explore and address a variety of issues and features of the discipline of economics, particularly as they relate to and represent past present and future factors of globalization, education, citizenship, and society. This is done by collecting and analyzing data on numerous aspects of the undergraduate economics curriculum, economics as a discipline, and economics as applied in the real world.
The overall purpose of these studies is to inform ongoing debates concerning the future of the discipline of economics and how it is taught, by examining and creating paradigms and methods that may be of aide. Additionally these studies collectively aim to outline, and in small ways develop, potential technological and organizational solutions for detailed longitudinal curriculum tracking. The frameworks employed and developed in these studies may eventually be scaled and adapted for all sorts of curricula. Ideally, the completion of this study’s overall objective yields practical insights and tools that empower faculty and departments, in economics and eventually in general, to better understand and design their own curriculum.
This immediate study fills gaps in and updates data on the curriculum of undergraduate economics majors in U.S. institutions, while also establishing a baseline data set for future studies to build on. A qualitative census methodology is adapted and employed to explore how various institutional and program factors relate to certain types of major program requirements. Descriptive statistics are used for analysis, primarily to allow for comparisons to previous studies. In sum, the purpose of the data collected and analyzed in this census is to give a glimpse into the current state of the undergraduate economics curriculum in the U.S., and to inform the qualitative, quantitative, and transformative studies that are to follow in this multiphase series.
2018-05-19
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/103235/1/MPRA_paper_103235.pdf
Turner, Grant (2018): Establishing a comprehensive census of undergraduate economics curricula:Foundational and special requirements for major programs in the U.S.
en
oai:mpra.ub.uni-muenchen.de:104526
2020-12-07T09:39:56Z
7374617475733D707562
7375626A656374733D42:4232:423232
7375626A656374733D42:4232:423233
7375626A656374733D42:4234:423431
7375626A656374733D43:4336:433631
7375626A656374733D43:4336:433632
7375626A656374733D45:4535:453532
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/104526/
Policy Maker's Credibility with Predetermined Instruments for Forward-Looking Targets
Chatelain, Jean-Bernard
Ralf, Kirsten
B22 - Macroeconomics
B23 - Econometrics ; Quantitative and Mathematical Studies
B41 - Economic Methodology
C61 - Optimization Techniques ; Programming Models ; Dynamic Analysis
C62 - Existence and Stability Conditions of Equilibrium
E52 - Monetary Policy
The aim of the present paper is to provide criteria for a central bank of how to choose among different monetary-policy rules when caring about a number of policy targets such as the output gap and expected inflation. Special attention is given to the question if policy instruments are predetermined or only forward looking. Using the new-Keynesian Phillips curve with a cost-push-shock policy-transmission mechanism, the forward-looking case implies an extreme lack of robustness and of credibility of stabilization policy. The backward-looking case is such that the simple-rule parameters can be the solution of Ramsey optimal policy under limited commitment. As a consequence, we suggest to model explicitly the rational behavior of the policy maker with Ramsey optimal policy, rather than to use simple rules with an ambiguous assumption leading to policy advice that is neither robust nor credible.
2020-10-31
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/104526/1/MPRA_paper_104526.pdf
Chatelain, Jean-Bernard and Ralf, Kirsten (2020): Policy Maker's Credibility with Predetermined Instruments for Forward-Looking Targets. Published in: Revue d'Economie Politique , Vol. 5, No. 130 (31 October 2020): pp. 823-846.
en
oai:mpra.ub.uni-muenchen.de:107201
2021-04-23T13:19:57Z
7374617475733D756E707562
7375626A656374733D42:4232:423231
7375626A656374733D42:4232:423232
7375626A656374733D42:4232:423233
7375626A656374733D45:4531:453130
7375626A656374733D45:4533:453332
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/107201/
Barro, Grossman, and the domination of equilibrium macroeconomics
Plassard, Romain
B21 - Microeconomics
B22 - Macroeconomics
B23 - Econometrics ; Quantitative and Mathematical Studies
E10 - General
E32 - Business Fluctuations ; Cycles
Under which conditions did Robert Lucas’s microfoundational program come to dominate the field? My article sheds new light on this question. The focus is on why models incorporating rational expectations and market-clearing seduced macroeconomists. My case study is Robert Barro and Herschel Grossman. Drawing on Grossman’s archives, I define a framework for explaining their modeling choices. I show that methodological principles, tractability constraints, and research strategies explained why, at the end of the 1970s, Barro and Grossman preferred equilibrium over disequilibrium macroeconomics.
2021-04-15
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/107201/1/MPRA_paper_107201.pdf
Plassard, Romain (2021): Barro, Grossman, and the domination of equilibrium macroeconomics.
en
oai:mpra.ub.uni-muenchen.de:109270
2021-08-21T14:38:23Z
7374617475733D756E707562
7375626A656374733D42:4232:423230
7375626A656374733D42:4232:423233
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/109270/
The Econometric Society European meetings 1931-1939: Influences on economics
Schilirò, Daniele
Young, Warren
B20 - General
B23 - Econometrics ; Quantitative and Mathematical Studies
This paper analyzes the Econometric Society European Meetings (ESEMs) over the period 1931-39, highlighting the research programs produced by the meetings to show the influence that these meetings had on economics in that period and thereafter. The examination of the European Meetings in the 1930s highlights the range of topics discussed in these meetings, connections with ideas of the past economists such as Cournot, Pareto, and Walras among others, and the interest in relevant social and economic issues that characterized the decade. Also, the paper points to the emphasis placed on the quantitative approach to economic analysis taken by the European members of the Econometric Society, and their efforts to establish new lines of research accordingly.
2021-08
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/109270/1/MPRA_paper_109270.pdf
Schilirò, Daniele and Young, Warren (2021): The Econometric Society European meetings 1931-1939: Influences on economics.
en
oai:mpra.ub.uni-muenchen.de:113584
2022-06-30T07:07:30Z
7374617475733D756E707562
7375626A656374733D42:4232:423231
7375626A656374733D42:4232:423232
7375626A656374733D42:4232:423233
7375626A656374733D45:4531:453133
7375626A656374733D45:4536:453631
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/113584/
Diagnosing unemployment: the dual project of the ENSAE's band
Plassard, Romain
B21 - Microeconomics
B22 - Macroeconomics
B23 - Econometrics ; Quantitative and Mathematical Studies
E13 - Neoclassical
E61 - Policy Objectives ; Policy Designs and Consistency ; Policy Coordination
Throughout the 1980s and 1990s, there was a continuing effort to specify and estimate general equilibrium models with rationing (GEMR). However, this applied work has never been studied in a historical perspective. My article contributes to fill this gap. The focus is on the research led by French statisticians/econometricians including Patrick Artus, Sanvi Avouyi-Dovi, Christian Gourieroux, Jean-Jacques Laffont, Guy Laroque, and Alain Monfort. I show that there were two different motivations behind their work on GEMR: to inform economic policy and to advance data analytics. I explain the conditions under which each project emerged, account for their development, and discuss their scope. It follows a fresh perspective on the history of the microfoundations of macroeconomics.
2022-06-27
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/113584/1/MPRA_paper_113584.pdf
Plassard, Romain (2022): Diagnosing unemployment: the dual project of the ENSAE's band.
en