2024-03-28T19:13:29Z
https://mpra.ub.uni-muenchen.de/cgi/oai2
oai:mpra.ub.uni-muenchen.de:612
2019-10-03T04:41:30Z
7374617475733D756E707562
7375626A656374733D44:4438:443830
7375626A656374733D43:4336:433635
7375626A656374733D44:4435:443530
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/612/
A unified differential information framework assessing that more information is preferred to less
Fugarolas Álvarez-Ude, Guadalupe
Hervés-Beloso, Carlos
D80 - General
C65 - Miscellaneous Mathematical Tools
D50 - General
The Walrasian model has played a central role in all aspects of economics. The purpose of this paper is to propose a general modeling of differential information in the spirit of the Arrow-Debreu model and following the Radner tradition but away from the usual measurability conception. We provide a characterization of better informed agents in order to firstly formalize an essential feature known as part of some oral tradition: a decisionmaker prefers more information to less.
2005
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/612/1/MPRA_paper_612.pdf
Fugarolas Álvarez-Ude, Guadalupe and Hervés-Beloso, Carlos (2005): A unified differential information framework assessing that more information is preferred to less.
en
oai:mpra.ub.uni-muenchen.de:4694
2019-10-03T05:00:44Z
7374617475733D756E707562
7375626A656374733D44:4435:443531
7375626A656374733D44:4435:443530
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/4694/
Evolution paths on the equilibrium manifold
Andrea, Loi
Stefano, Matta
D51 - Exchange and Production Economies
D50 - General
In a pure exchange smooth economy with fixed total resources, we de-
fine the length between two regular equilibria belonging to the equilibrium manifold
as the number of intersection points of the evolution path connecting them with
the set of critical equilibria. We show that there exists a minimal path according
to this definition of length.
2006-11
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/4694/1/MPRA_paper_4694.pdf
Andrea, Loi and Stefano, Matta (2006): Evolution paths on the equilibrium manifold.
en
oai:mpra.ub.uni-muenchen.de:8120
2019-09-30T22:03:48Z
7374617475733D707562
7375626A656374733D44:4435:443530
7375626A656374733D46:4631:463133
7375626A656374733D43:4330:433032
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/8120/
Resources and North-South trade: a macro analysis in open economies
Chichilnisky, Graciela
D50 - General
F13 - Trade Policy ; International Trade Organizations
C02 - Mathematical Methods
The paper explores the impacts of resource export policies on major macro variables of the exporter and the importer economies. There are two regions, North and South, trading resources for industrial goods. Each region consumes two goods (basic consumption goods and industrial goods) and produces both using three inputs: capital labor and resources. The relative prices in five markets (of factors and goods) as well as the volumes of output, consumption and international trade are all determined endogenously at a general equilibrium.
The results give conditions both for positive and for negative outcomes from moves towards world equilibrium with higher volumes of resource exports. Under certain conditions, increased resource exports produce price distortions with negative consequences. When the South's technologies are dual and its traditional sector uses mostly labor, and the North has a more homogeneous economy and a high rate of profit, at the new equilibrium real wages, employment and consumption decrease in the South, and its terms of trade and real revenues worsen. This is traced to the negative impact of increased resource exports on the domestic terms of trade between the traditional and the industrial sectors. However, the profits of the south increase, thus explaining in part the existence of trade. More favourable outcomes are obtained when the exporting economy is more homogeneous, and sufficient conditions are given for an export policy to improve the welfare of the exporting country, as well as its international terms of trade and export revenues.
1988
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/8120/1/MPRA_paper_8120.pdf
Chichilnisky, Graciela (1988): Resources and North-South trade: a macro analysis in open economies. Published in: Challenges of South-South Cooperation (1988): 1(263)-34(290).
en
oai:mpra.ub.uni-muenchen.de:8819
2019-09-30T16:13:50Z
7374617475733D707562
7375626A656374733D46:4632:463232
7375626A656374733D44:4435:443530
7375626A656374733D46:4631:463138
7375626A656374733D44:4436:443631
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/8819/
Trade, migration, and environment: a general equilibrium analysis, Chapter 2.3
Chichilnisky, Graciela
Di Matteo, Massimo
F22 - International Migration
D50 - General
F18 - Trade and Environment
D61 - Allocative Efficiency ; Cost-Benefit Analysis
Two major trends in the world economy are international migration and environmental degradation. The object of the paper is to analyze the connection between these two trends, which have generally been analyzed in isolation. Here we represent a world economy in which the exploitation of natural
resources as well as the migration of labor have a global character. We discuss the welfare impact of migration and exploitation of natural resources and policies to address these issues.
The main results of the paper are as follows. Migration is prompted by wage differentials as technology is different across countries. We show that migration from the South induces a decrease in the exploitation of the resource in the South. This increases the welfare of the South but can decrease that of the North. Migration can lead to higher prices ofresources in the North and in the South, setting up a process of induced technical change in the North and better terms of trade for the South, altogether a positive outcome. As is intuitively obvious, migration reduces the wage differential between North and South in a model where, contrary to Heckscher-Ohlin assumptions, technologies differ between countries. Finally, we show that it is possible that a tax on the use of the resource in the South induces an increase in its extraction rather than a decrease. Trade policies could have a positive impact on resource extraction, could reduce the wage gap and therefore decrease the economic incentive to the mobility of labour.
1998
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/8819/1/MPRA_paper_8819.pdf
Chichilnisky, Graciela and Di Matteo, Massimo (1998): Trade, migration, and environment: a general equilibrium analysis, Chapter 2.3. Published in: Sustainability: Dynamics and Uncertainty (1998)
en
oai:mpra.ub.uni-muenchen.de:8833
2019-09-27T03:39:45Z
7374617475733D756E707562
7375626A656374733D44:4435:443530
7375626A656374733D44:4435:443531
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/8833/
Necessary and sufficient conditions for global uniqueness of equilibria
Covarrubias, Enrique
D50 - General
D51 - Exchange and Production Economies
We study the problem of finding necessary and sufficient conditions that guarantee global uniqueness of equilibria in a pure exchange economy. We show that for every economy to have a unique equilibrium it is necessary and sufficient that (i) there are no critical economies and (ii) a compact set of economies has a compact set of equilibria.
2008-05-05
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/8833/1/MPRA_paper_8833.pdf
Covarrubias, Enrique (2008): Necessary and sufficient conditions for global uniqueness of equilibria.
en
oai:mpra.ub.uni-muenchen.de:9437
2019-09-28T04:34:05Z
7374617475733D756E707562
7375626A656374733D44:4435:443530
7375626A656374733D44:4435:443531
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/9437/
Determinacy of equilibria of smooth infinite economies
Covarrubias, Enrique
D50 - General
D51 - Exchange and Production Economies
This paper deals with generic determinacy of equilibria for infinite dimensional consumption spaces. Our work could be seen as an infinite-dimensional analogue of Dierker and Dierker (1972), by characterising equilibria of an economy as a zero of the aggregate excess demand, and studying its transversality. In this case, we can use extensions of the transversality density theorem. Assuming separable
utilities, we give a new proof of generic determinacy of equilibria. We define regular price systems in this setting and show that an economy is regular if and only if its associated excess demand function only has regular equilibrium prices. We also define the infinite equilibrium
manifold and show that it has the structure of a Banach manifold.
2008
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/9437/1/MPRA_paper_9437.pdf
Covarrubias, Enrique (2008): Determinacy of equilibria of smooth infinite economies.
en
oai:mpra.ub.uni-muenchen.de:9553
2019-10-29T17:27:31Z
oai:mpra.ub.uni-muenchen.de:10245
2019-09-29T20:26:08Z
7374617475733D756E707562
7375626A656374733D49:4933:493330
7375626A656374733D49:4933:493331
7375626A656374733D44:4439:443930
7375626A656374733D5A:5A31:5A3133
7375626A656374733D48:4837:483730
7375626A656374733D4A:4A34:4A3430
7375626A656374733D4A:4A30:4A3030
7375626A656374733D42:4232:423230
7375626A656374733D49:4930:493030
7375626A656374733D48:4838:483830
7375626A656374733D42:4232:423234
7375626A656374733D44:4435:443530
7375626A656374733D49:4930
7375626A656374733D44:4433:443330
7375626A656374733D4C:4C31:4C3130
7375626A656374733D42:4233:423330
7375626A656374733D48:4830:483030
7375626A656374733D42:4230:423030
7375626A656374733D41:4131:413130
7375626A656374733D49:4933:493332
7375626A656374733D41:4133:413330
7375626A656374733D49:4933:493339
7375626A656374733D48:4834:483430
7375626A656374733D42:4234:423430
7375626A656374733D4A:4A31:4A3130
7375626A656374733D49:4933:493338
7375626A656374733D44:4436:443630
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/10245/
Social Quality and Precarity: Approaching New Patterns of Societal (Dis)Integration
Herrmann, Peter
van der Maesen, Laurent J.G.
I30 - General
I31 - General Welfare, Well-Being
D90 - General
Z13 - Economic Sociology ; Economic Anthropology ; Social and Economic Stratification
H70 - General
J40 - General
J00 - General
B20 - General
I00 - General
H80 - General
B24 - Socialist ; Marxist ; Sraffian
D50 - General
I0 - General
D30 - General
L10 - General
B30 - General
H00 - General
B00 - General
A10 - General
I32 - Measurement and Analysis of Poverty
A30 - General
I39 - Other
H40 - General
B40 - General
J10 - General
I38 - Government Policy ; Provision and Effects of Welfare Programs
D60 - General
The main issue of this article is to discuss the question of ‘precarity’ in the context of the theory of social quality (see Beck et al, 2001), with which to pave the way for developing further the theoretical foundation of precarity. Societal practice is the main challenge this concept tries to address. However, the danger is to introduce a new term, yet maintaining a discussion on traditional problems as poverty, marginalisation and exclusion. Our thesis is that these problems, far from being sufficiently tackled, are currently going along with and being adjunct to another challenge, namely precarity. Although the ‘old problems’ are not problems of individuals and expression of their ‘personal failure’, precarity – seen in the context of the theory of social quality – means a new stage of socialisation of the problems by further individualisation of the victims. In principle, we can say that this understanding of precarity is an expression of a further erosion of society, characterising especially periods of transformation of economic systems.
2008-01
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/10245/1/MPRA_paper_10245.pdf
Herrmann, Peter and van der Maesen, Laurent J.G. (2008): Social Quality and Precarity: Approaching New Patterns of Societal (Dis)Integration.
en
oai:mpra.ub.uni-muenchen.de:11099
2019-09-28T02:42:12Z
7374617475733D756E707562
7375626A656374733D44:4435:443530
7375626A656374733D44:4435
7375626A656374733D44:4435:443531
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/11099/
The number of equilibria of smooth infinite economies with separable utilities
Covarrubias, Enrique
D50 - General
D5 - General Equilibrium and Disequilibrium
D51 - Exchange and Production Economies
We construct an index theorem for smooth infinite economies with separable utilities that shows that generically the number of equilbria is odd. As a corollary, this gives a new proof of existence and gives conditions that guarantee global uniqueness of equilibria.
2008-10
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/11099/1/MPRA_paper_11099.pdf
Covarrubias, Enrique (2008): The number of equilibria of smooth infinite economies with separable utilities.
en
oai:mpra.ub.uni-muenchen.de:12096
2019-09-28T06:33:22Z
7374617475733D756E707562
7375626A656374733D4F:4F31
7375626A656374733D44:4435:443530
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/12096/
Science, Technology and Innovation for Economic Growth: Linking Policy Research and Practice in "STIG Systems"
David, Paul
Aghion, Philippe
O1 - Economic Development
D50 - General
This paper reflects on the relevance of "systems-theoretic" approaches to theinterdependent policy issues relating to the dynamics of science, technology and innovation and their relationship to economic growth. Considering the approach that characterizes much of the current economics literature's treatment of technology and growth policies, we pose the critical question: what kind of systems paradigm is likely to prove particularly fruitful in that particular problem-domain? Evolutionary, neo-Schumpeterian, and complex system dynamics approaches are conceptually attractive, and we examine their respective virtues and limitations. Both qualities are redily visible when one tries to connect systems-relevant research with practical policy-making in this field.
2008-10
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/12096/1/MPRA_paper_12096.pdf
David, Paul and Aghion, Philippe (2008): Science, Technology and Innovation for Economic Growth: Linking Policy Research and Practice in "STIG Systems".
en
oai:mpra.ub.uni-muenchen.de:12425
2019-09-27T06:45:22Z
7374617475733D756E707562
7375626A656374733D44:4435:443530
7375626A656374733D41:4131:413133
7375626A656374733D44:4436:443630
7375626A656374733D44:4430:443031
7375626A656374733D44:4438:443830
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/12425/
A Simple Model of Speculation- The Welfare Analysis and Some Problems in the Decision Making Theory
Aoki, Takaaki
D50 - General
A13 - Relation of Economics to Social Values
D60 - General
D01 - Microeconomic Behavior: Underlying Principles
D80 - General
This article analyzes the effect of speculation on the economic welfare from various criteria, using a simple Edgeworth box within a three-period Walrasian competition framework. Here “speculation” is defined as a series of transition processes of each agent’s spontaneous production of private information, the exchange of commodities based on it under the externality environment, and finally its spillover into public. The methodology and implications are closely related with the concepts of herd behavior by Banerjee (1992), informational externality by Stein (1987), information sharing by Shapiro (1985), and economic value of speculation by Hirshleifer (1971, 1975, 1977). It is explicitly shown that the complete sharing of produced information under externality environment, if not accompanied by almost sure productivity effect, does not necessarily attain the non-negative economic value especially in terms of ex-ante expected utility. The implication is consistent with Aoki (2005). Lastly some criticisms about why this could happen are discussed.
2003-04
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/12425/1/MPRA_paper_12425.pdf
Aoki, Takaaki (2003): A Simple Model of Speculation- The Welfare Analysis and Some Problems in the Decision Making Theory.
en
oai:mpra.ub.uni-muenchen.de:13292
2019-09-26T10:52:00Z
7374617475733D756E707562
7375626A656374733D44:4435:443530
7375626A656374733D46:4631:463130
7375626A656374733D4F:4F31:4F3130
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/13292/
Assessment of the impact of the Economic Partnership Agreement between the ECOWAS countries and the European Union
Karingi, Stephen
Oulmane, Nassim
Lang, Rémi
Sadni Jallab, Mustapha
Perez, Romain
D50 - General
F10 - General
O10 - General
The present study consists of eight sections. After the introduction, we present in the first section, the
profile of the ACP-EU cooperation agreements from Lomé to Cotonou. We also show how a certain
“grey areas” in the WTO rules on regional agreements can enable African countries to benefit more
from the EPAs by taking advantage of greater flexibility. The next section presents some graphical data
on Africa’s trade flows in general and on trade flows of ECOWAS in particular. The third section deals
with the analytical framework in general equilibrium. It contains a presentation of the Global Trade
Analysis Project (GTAP) model used for assessing the impact of different partnership agreement options.
In the fourth section, we focus on the characteristics of African economies, which are drawn from the
GTAP database and which play a key role in the operative interactions in this kind of liberalization. The
fifth section deals with the analytical framework in partial equilibrium which is complementary to the
general-equilibrium modelling. The assessments of the economic impacts of the EPAs for Africa, using
the general-equilibrium model, are analysed in the sixth section, while those particularly concerning the
ECOWAS countries, using the partial-equilibrium framework, are presented in the penultimate section.
Finally, the last section comprises concluding remarks.
2005-12
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/13292/1/MPRA_paper_13292.pdf
Karingi, Stephen and Oulmane, Nassim and Lang, Rémi and Sadni Jallab, Mustapha and Perez, Romain (2005): Assessment of the impact of the Economic Partnership Agreement between the ECOWAS countries and the European Union.
en
oai:mpra.ub.uni-muenchen.de:13624
2019-10-01T05:31:17Z
7374617475733D756E707562
7375626A656374733D44:4435:443530
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/13624/
Could Markets' Equilibrium Sets Be Fractal Attractors?
Dominique, C-Rene
D50 - General
The assumption that markets are positive linear structures moving toward stable fixed-point equilibria is not supproted by empirical investigations.This note reformulates the purest and the simplestof all Walrasian models, i. e.,a pure exchange economy, and shows that even such a simple market moves toward a compact time-invariant set of prices due to the constant destruction and creation of excess demands under the impulsion of self-interested agents with strong monotone preferences. Fractal attractors better explain continuous market fluctuations, 'black swans', and the flawed risk assessments of market risks of the financial engineers of Wall Street.
2009-02-27
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/13624/1/MPRA_paper_13624.pdf
Dominique, C-Rene (2009): Could Markets' Equilibrium Sets Be Fractal Attractors?
en
oai:mpra.ub.uni-muenchen.de:15048
2019-10-01T04:46:55Z
7374617475733D696E7072657373
7375626A656374733D50:5030
7375626A656374733D44:4435:443530
7375626A656374733D44:4436:443633
7375626A656374733D44:4433:443333
7375626A656374733D4F:4F31:4F3137
7375626A656374733D44:4434:443433
7375626A656374733D50:5031:503136
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/15048/
La crisis económica actual: una visión desde la economía política
Sergio, Reuben
P0 - General
D50 - General
D63 - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
D33 - Factor Income Distribution
O17 - Formal and Informal Sectors ; Shadow Economy ; Institutional Arrangements
D43 - Oligopoly and Other Forms of Market Imperfection
P16 - Political Economy
The paper criticizes the conception of value on behalf of the conventional economic theory, blaming it for the current economic school’s incapacity to explain the actual economic crisis and to offer an adequate perspective to settle a solution. It proposes an explanation based on the tendency to concentration and centralization of capital’s accumulation and its effects on income distribution, which conforms inadequate and unbalanced structures of production and distribution, withdrawn from the appropri-ate and thorough use of scarce common resources. In the middle, long term, these structures determine ruptures in the process of accumulation of capital triggering crisis like the actual. The theory of regulation is used in this paper, in order to explain the growth of concentration and centralization of capital and of social gap during the last years, which is understood as the result of the crisis of Fordist regime of accumu-lation and of the surge of a new transnational regime.
2009-03-03
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/15048/1/MPRA_paper_15048.pdf
Sergio, Reuben (2009): La crisis económica actual: una visión desde la economía política. Forthcoming in: Revista de Ciencias Económicas , Vol. 16, No. 2
es
oai:mpra.ub.uni-muenchen.de:15507
2019-09-30T03:24:19Z
7374617475733D756E707562
7375626A656374733D44:4435:443530
7375626A656374733D44:4435:443531
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/15507/
A note on the structural stability of the equilibrium manifold
Loi, Andrea
Matta, Stefano
D50 - General
D51 - Exchange and Production Economies
In a smooth pure exchange economy with fixed total resources we
investigate whether the smooth selection property holds when endowments are
redistributed across consumers through a continuous (non local) redistribution
policy. We show that if the policy is regular then there exists a unique continuous
path of equilibrium prices which support it. If singular economies are involved in
the redistribution, then an analogous result can be obtained if the singular policy
is the projection of a path transversal to the set of critical equilibria.
2009-05-27
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/15507/1/MPRA_paper_15507.pdf
Loi, Andrea and Matta, Stefano (2009): A note on the structural stability of the equilibrium manifold.
en
oai:mpra.ub.uni-muenchen.de:18659
2019-09-30T17:15:07Z
7374617475733D756E707562
7375626A656374733D44:4435:443530
7375626A656374733D4D:4D31:4D3134
7375626A656374733D44:4433:443330
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/18659/
The Role of Income Distribution in the Diffusion of Corporate Social Responsibility
D'Alessandro, Simone
Fanelli, Domenico
D50 - General
M14 - Corporate Culture ; Diversity ; Social Responsibility
D30 - General
The purpose of this paper is to investigate the link between CSR growth and income distribution. We present a general equilibrium model where social responsibility enters both firms' and consumers' decisions. The model admits the existence of multiple equilibria, each of them characterized by a different diffusion of CSR. We study the conditions under which there exists a virtuous circle which ties increases in the diffusion of CSR to reductions in income inequality and viceversa. Under certain circumstances, any policy which promotes the diffusion of CSR induces a reduction of income inequality. By contrast, when such conditions are not satisfied, only redistributive policies may generate the virtuous circle.
2009-11-16
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/18659/1/MPRA_paper_18659.pdf
D'Alessandro, Simone and Fanelli, Domenico (2009): The Role of Income Distribution in the Diffusion of Corporate Social Responsibility.
en
oai:mpra.ub.uni-muenchen.de:18953
2019-09-27T20:30:34Z
7374617475733D756E707562
7375626A656374733D44:4435:443530
7375626A656374733D45:4533:453332
7375626A656374733D45:4532:453234
7375626A656374733D44:4439:443931
7375626A656374733D47:4732:473238
7375626A656374733D45:4532:453231
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/18953/
Depression as a Nash Equilibrium Consisting of Strategies of Choosing a Pareto Inefficient Transition Path
Harashima, Taiji
D50 - General
E32 - Business Fluctuations ; Cycles
E24 - Employment ; Unemployment ; Wages ; Intergenerational Income Distribution ; Aggregate Human Capital ; Aggregate Labor Productivity
D91 - Intertemporal Household Choice ; Life Cycle Models and Saving
G28 - Government Policy and Regulation
E21 - Consumption ; Saving ; Wealth
This paper shows that a Nash equilibrium consisting of strategies of choosing a Pareto inefficient transition path is selected by households even without frictions as a result of the revealed government failure in supervision of financial markets. The Pareto inefficiency causes the generation of many of the phenomena observed in a depression (e.g., a persistently large amount of unutilized resources), and it is not necessary to use “animal spirits” to explain the generation of a depression. The revealed government failure in the supervision of financial markets and the resulting increased policy-induced uncertainty makes non-cooperative and risk-averse households behave more myopically, resulting in a Nash equilibrium of a Pareto inefficient path. When the failure of financial supervision is revealed, the household rate of time preference shifts upwards when the expected variance of steady-state consumption increases and/or its expected value shifts downwards.
2009-12-01
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/18953/1/MPRA_paper_18953.pdf
Harashima, Taiji (2009): Depression as a Nash Equilibrium Consisting of Strategies of Choosing a Pareto Inefficient Transition Path.
en
oai:mpra.ub.uni-muenchen.de:18987
2019-09-29T02:03:54Z
7374617475733D756E707562
7375626A656374733D44:4435:443530
7375626A656374733D45:4533:453332
7375626A656374733D45:4532:453234
7375626A656374733D44:4439:443931
7375626A656374733D47:4732:473238
7375626A656374733D45:4532:453231
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/18987/
Depression as a Nash Equilibrium Consisting of Strategies of Choosing a Pareto Inefficient Transition Path
Harashima, Taiji
D50 - General
E32 - Business Fluctuations ; Cycles
E24 - Employment ; Unemployment ; Wages ; Intergenerational Income Distribution ; Aggregate Human Capital ; Aggregate Labor Productivity
D91 - Intertemporal Household Choice ; Life Cycle Models and Saving
G28 - Government Policy and Regulation
E21 - Consumption ; Saving ; Wealth
This paper shows that a Nash equilibrium consisting of strategies of choosing a Pareto inefficient transition path is selected by households even without frictions as a result of the revealed government failure in supervision of financial markets. The Pareto inefficiency causes the generation of many of the phenomena observed in a depression (e.g., a persistently large amount of unutilized resources), and it is not necessary to use “animal spirits” to explain the generation of a depression. The revealed government failure in the supervision of financial markets and the resulting increased policy-induced uncertainty makes non-cooperative and risk-averse households behave more myopically, resulting in a Nash equilibrium of a Pareto inefficient path. When the failure of financial supervision is revealed, the household rate of time preference shifts upwards when the expected variance of steady-state consumption increases and/or its expected value shifts downwards.
2009-12-01
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/18987/1/MPRA_paper_18987.pdf
Harashima, Taiji (2009): Depression as a Nash Equilibrium Consisting of Strategies of Choosing a Pareto Inefficient Transition Path.
en
oai:mpra.ub.uni-muenchen.de:19354
2019-09-29T09:30:35Z
7374617475733D756E707562
7375626A656374733D44:4435:443530
7375626A656374733D46:4632
7375626A656374733D4A:4A36:4A3631
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/19354/
Emigration, Wage Inequality and Vanishing Sectors
Marjit, Sugata
Kar, Saibal
D50 - General
F2 - International Factor Movements and International Business
J61 - Geographic Labor Mobility ; Immigrant Workers
Emigration leads to finite changes in structure of production and sectors vanish because they cannot pay higher wages. Does emigration of one type of labor hurt the other non-emigrating type in this set up? We demonstrate various scenarios when real income of the emigrating and the non-emigrating type do not move together and in the process generalize some of the existing results in the literature. In particular emigration can lead to a drastic change in the degree of inequality depending on which sectors survive in the post-emigration scenario.
2009-09
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/19354/1/MPRA_paper_19354.pdf
Marjit, Sugata and Kar, Saibal (2009): Emigration, Wage Inequality and Vanishing Sectors.
en
oai:mpra.ub.uni-muenchen.de:20530
2019-09-28T18:16:10Z
7374617475733D756E707562
7375626A656374733D42:4235:423531
7375626A656374733D44:4435:443530
7375626A656374733D42:4231:423132
7375626A656374733D41:4131:413132
7375626A656374733D41:4131:413131
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/20530/
In Favor of Rigor and Relevance. A Reply to Mark Blaug
Kurz, Heinz D.
Salvadori, Neri
B51 - Socialist ; Marxian ; Sraffian
D50 - General
B12 - Classical (includes Adam Smith)
A12 - Relation of Economics to Other Disciplines
A11 - Role of Economics ; Role of Economists ; Market for Economists
The paper discusses Mark Blaug’s recent criticisms of “Sraffian economics”. It is shown that none of the criticisms stand up to close examination. Blaug commits a number of elementary blunders and mistakes the mathematical form of an argument for its content. He variously contradicts himself and puts forward bold contentions that cannot be sustained. The paper concludes with an obvious plea for rigor and relevance.
2010-02-04
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/20530/1/MPRA_paper_20530.pdf
Kurz, Heinz D. and Salvadori, Neri (2010): In Favor of Rigor and Relevance. A Reply to Mark Blaug.
en
oai:mpra.ub.uni-muenchen.de:20533
2019-09-27T04:37:03Z
7374617475733D756E707562
7375626A656374733D46:4631:463136
7375626A656374733D4E:4E31:4E3130
7375626A656374733D46:4635:463534
7375626A656374733D50:5031:503136
7375626A656374733D4A:4A36:4A3632
7375626A656374733D45:4533:453330
7375626A656374733D45:4532:453234
7375626A656374733D4E:4E33:4E3330
7375626A656374733D46:4630:463031
7375626A656374733D46:4632:463231
7375626A656374733D44:4435:443530
7375626A656374733D4F:4F32:4F3234
7375626A656374733D4A:4A30:4A3031
7375626A656374733D45:4534:453434
7375626A656374733D45:4531:453130
7375626A656374733D45:4536:453630
7375626A656374733D47:4730:473031
7375626A656374733D50:5035:503530
7375626A656374733D46:4631:463131
7375626A656374733D46:4630:463032
7375626A656374733D46:4634:463431
7375626A656374733D49:4932:493238
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/20533/
International economic theory and politics: world structure before, during and after the early 21st Century Crisis
Naqvi, Nadeem
F16 - Trade and Labor Market Interactions
N10 - General, International, or Comparative
F54 - Colonialism ; Imperialism ; Postcolonialism
P16 - Political Economy
J62 - Job, Occupational, and Intergenerational Mobility
E30 - General
E24 - Employment ; Unemployment ; Wages ; Intergenerational Income Distribution ; Aggregate Human Capital ; Aggregate Labor Productivity
N30 - General, International, or Comparative
F01 - Global Outlook
F21 - International Investment ; Long-Term Capital Movements
D50 - General
O24 - Trade Policy ; Factor Movement Policy ; Foreign Exchange Policy
J01 - Labor Economics: General
E44 - Financial Markets and the Macroeconomy
E10 - General
E60 - General
G01 - Financial Crises
P50 - General
F11 - Neoclassical Models of Trade
F02 - International Economic Order and Integration
F41 - Open Economy Macroeconomics
I28 - Government Policy
In his Inquiry into the Nature and Causes of the Wealth of Nations Adam Smith (1776) considered the phenomenon of division of labor so enormously significant for the creation of a nation’s wealth that he devoted the first three chapters of his book to an investigation of this process. This is an ongoing process of greater and greater specialization, and there have been episodes of faster pace, and some slower pace, but the process has never stopped so far in human history. However, this process, carried far enough, can eventually results in episodes, sometimes painfully prolonged, in which there emerges a divergence between the distribution of quantities supplied of horizontally-differentiated distinct types of human capital embodied in different persons and distribution of quantities demanded of persons with distinct skills by employers, private or public, or otherwise. This sustained divergence of supply and demand distributions of distinct skill categories may be called Embodied Human Capital Unemployment. This is a phenomenon not seen before in social history, simply because specialization of persons in very narrowly partitioned skill types that are, effectively, non-transferable across different persons, had never occurred before in our history. That is why it is a new phenomenon, and it is time we understood what it is. Moreover, it has an abiding character, a stationary state nature, and (1) thus should emerge as an equilibrium phenomenon in a fully specified general equilibrium model of a market economy, and (2) should be of concern to us, since it is going to be around for a while as we all live our lives.
I illustrate the relevance of this new concept of unemployment to the U.S economy in the first decade of the 21st Century. This helps achieve a deeper understanding of the current global economic crisis, and inter alia to identification of potentially effective, and potentially ineffective, public policies. Additional implications are (b) the emergence of a new social formation that may be called World Market Capitalism, which has a vastly different economic foundation of relations of production and income distribution compared to the pre-21st Century economic system that then existed in the world, and (c) the transition from a uni-polar world, with the U.S.A. as the single center of power, after the fall of the Soviet Union in 1989, to a multi-polar world order at the end of the first decade of the 21st Century, with implications for strategic interaction and coalition formation. (403 words)
2010-02-07
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/20533/1/MPRA_paper_20533.pdf
Naqvi, Nadeem (2010): International economic theory and politics: world structure before, during and after the early 21st Century Crisis.
en
oai:mpra.ub.uni-muenchen.de:21623
2019-09-28T16:38:16Z
7374617475733D707562
7375626A656374733D44:4435:443530
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/21623/
О некоторых направлениях исследований в математической экономике
Kantorovich, Leonid
Katyshev, Pavel
Kiruta, Alexander
Polterovich, Victor
D50 - General
A brief survey of the publications in mathematical economics, dealing with utility theory, probabilistic microeconomic models, and equilibrium under price rigidities, is given.
1982
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/21623/1/MPRA_paper_21623.pdf
Kantorovich, Leonid and Katyshev, Pavel and Kiruta, Alexander and Polterovich, Victor (1982): О некоторых направлениях исследований в математической экономике. Published in: Itogi Nauki i Tekhniki. Ser. Sovrem. Probl. Mat. No. 19 (1982): pp. 3-21.
ru
oai:mpra.ub.uni-muenchen.de:21721
2019-09-28T22:59:35Z
7374617475733D707562
7375626A656374733D44:4435:443530
7375626A656374733D44:4438:443833
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/21721/
A Model of Resource Redistribution
Polterovich, Victor
D50 - General
D83 - Search ; Learning ; Information and Knowledge ; Communication ; Belief ; Unawareness
Consider an economy with n resources (goods) and m agents, and let initial resource allocation be given. We ask if it is possible to build a mutually beneficial bargaining sequence that approaches an optimal resource allocation even though a) only k ≤ n agents participates at each step of the bargaining sequence, and b) they use only information about participants of the exchange. We answer this question using a new concept of quasi - summator functions. In particular, the answer is positive if k > n and all agent utility functions are concave.
1971
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/21721/1/MPRA_paper_21721.pdf
Polterovich, Victor (1971): A Model of Resource Redistribution. Published in: Matekon , Vol. 7, No. 3 (1971): pp. 245-262.
en
oai:mpra.ub.uni-muenchen.de:21814
2019-10-04T06:34:55Z
7374617475733D707562
7375626A656374733D44:4435:443530
7375626A656374733D43:4336:433632
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/21814/
Отображения с валовой заменимостью в теории экономического равновесия
Polterovich, Victor
Spivak, Vladimir
D50 - General
C62 - Existence and Stability Conditions of Equilibrium
A survey of the results relating to the application of gross substitutability in economic equilibrium theory. The topics considered include existence and uniqueness of equilibrium, comparative statics, coalition stability, and stability of price-adjustment tatonnement processes. The main theorems cover the case of multivalued demand satisfying the gross substitutability condition and, in particular, are applicable to linear exchange models.
1982
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/21814/1/MPRA_paper_21814.pdf
Polterovich, Victor and Spivak, Vladimir (1982): Отображения с валовой заменимостью в теории экономического равновесия. Published in: Journal of Mathematical Sciences , Vol. 4, No. 26 (1984): pp. 2013-2047.
ru
oai:mpra.ub.uni-muenchen.de:22046
2019-09-27T02:55:12Z
7374617475733D756E707562
7375626A656374733D44:4435:443530
7375626A656374733D43:4337:433731
7375626A656374733D43:4337:433732
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/22046/
Trade through endogenous intermediaries
Kilenthong, Weerachart
Qin, Cheng-Zhong
D50 - General
C71 - Cooperative Games
C72 - Noncooperative Games
We apply an intermediation game of Townsend (1983) to analyze trade in an exchange economy through endogenous intermediaries. In this game, each trader has the opportunity to become an intermediary by oering to buy or sell unlimited quantities of the commodities at a certain price vector and for a certain group of customers subject to feasibility constraint. An intermediary will not be active unless some of its customers subsequently choose to trade with it. We introduce an "intermediation core" and show that the subgame-perfect equilibrium allocations of the intermediation game are contained in the intermediation core, similar to the inclusion of competitive equilibrium allocations in the core usually studied. We also identify, in terms of the supporting intermediary structures, intermediation core allocations which are also subgame-perfect equilibrium allocations of the intermediation game. These results provide both a characterization
and welfare properties of subgame-perfect equilibrium allocations of the intermediation game.
2010-04-13
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/22046/1/MPRA_paper_22046.pdf
Kilenthong, Weerachart and Qin, Cheng-Zhong (2010): Trade through endogenous intermediaries.
en
oai:mpra.ub.uni-muenchen.de:22205
2019-10-10T16:34:46Z
7374617475733D707562
7375626A656374733D44:4435:443530
7375626A656374733D44:4438:443833
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/22205/
Об одной модели перераспределения ресурсов
Polterovich, Victor
D50 - General
D83 - Search ; Learning ; Information and Knowledge ; Communication ; Belief ; Unawareness
Consider an economy with n resources (goods) and m agents, and let initial resource allocation be given. We ask if it is possible to build a mutually beneficial bargaining sequence that approaches an optimal resource allocation even though a) only k ≤ n agents participates at each step of the bargaining sequence, and b) they use only information about participants of the exchange. We answer this question using a new concept of quasi - summator functions. In particular, the answer is positive if k > n and all agent utility functions are concave.
1970
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/22205/1/MPRA_paper_22205.pdf
Polterovich, Victor (1970): Об одной модели перераспределения ресурсов. Published in: Economics and Mathematical Methods / Ekonomika i matematicheskie metody , Vol. 6, No. 4 (1970): pp. 583-593.
ru
oai:mpra.ub.uni-muenchen.de:24002
2019-09-28T05:21:50Z
7374617475733D756E707562
7375626A656374733D44:4435:443530
7375626A656374733D42:4232:423231
7375626A656374733D43:4330:433032
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/24002/
Multiple equilibria and chaos in a discrete tâtonnement process
Kaizoji, Taisei
D50 - General
B21 - Microeconomics
C02 - Mathematical Methods
The purpose of this note is to demonstrate a sufficient condition for discrete tâtonnement process to lead to chaos in a general equilibrium model with multiple commodities. The result indicates that as the speed of price adjustment increases the discrete tâtonnement process is complex in a general equilibrium economy in which there are multiple equilibria.
2010-07-15
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/24002/1/MPRA_paper_24002.pdf
Kaizoji, Taisei (2010): Multiple equilibria and chaos in a discrete tâtonnement process.
en
oai:mpra.ub.uni-muenchen.de:27481
2019-09-26T08:48:30Z
7374617475733D756E707562
7375626A656374733D44:4435:443530
7375626A656374733D45:4534:453434
7375626A656374733D43:4331:433130
7375626A656374733D47:4731:473132
7375626A656374733D45:4533:453330
7375626A656374733D45:4535:453532
7375626A656374733D52:5232:523231
7375626A656374733D47:4731:473130
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/27481/
House Prices and Consumption
Song, In Ho
D50 - General
E44 - Financial Markets and the Macroeconomy
C10 - General
G12 - Asset Pricing ; Trading Volume ; Bond Interest Rates
E30 - General
E52 - Monetary Policy
R21 - Housing Demand
G10 - General
I study the consumption responses of heterogeneous households following changes in both house prices and interest rates. I show the common assumption that household period utility is separable in housing and consumption can be consistent with the observed co-movement between these two series only in the absence of housing transaction costs. When these costs are introduced into dynamic stochastic general equilibrium (DSGE) models characterized by separable preferences, consumption no longer increases after a rise in house prices. As it is well known, transaction costs are an important ingredient in house sales. I address this issue by developing a model that allows for non-separable preferences in housing and consumption alongside housing transaction costs.
The results of my model closely match the aggregate data. Furthermore, it predicts that credit-constrained households will be substantially more responsive to changes in both house prices and interest rates than unconstrained households. Following a rise in house prices, consumption among constrained households increases by far more than the consumption of unconstrained households. Following a rise in interest rates, constrained households' consumption falls by more than that of unconstrained households. I trace this differing responsiveness in consumption to the house loan-to-value ratio of credit-constrained households. Higher loan-to-value ratios imply larger differences in their elasticity of response relative to unconstrained households. I also find that these differences widen with the degree of complementarity between housing and consumption. These predictions of my model are confirmed by household data from the Consumer Expenditure Surveys.
2010-11-28
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/27481/1/MPRA_paper_27481.pdf
Song, In Ho (2010): House Prices and Consumption.
en
oai:mpra.ub.uni-muenchen.de:31497
2013-02-11T12:03:54Z
7374617475733D756E707562
7375626A656374733D44:4435:443530
7375626A656374733D45:4533:453330
7375626A656374733D45:4534:453430
7375626A656374733D45:4532:453230
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/31497/
Properties of an economy without human beings
Kakarot-Handtke, Egmont
D50 - General
E30 - General
E40 - General
E20 - General
Standard economics starts with behavioral axioms and arrives at conclusions
about the equilibrium properties of the economy as a whole at point t. The
present paper employs objective structural axioms and random changes in
order to determine the conditions for market clearing and budget balancing
in the pure consumption economy until the limit t→∞. From the conditions
of stochastic supersymmetry six simple behavioral rules are derived that
guarantee the desired outcome. These rules contrast with actual behavior and
this explains why the plans and expectations of economic man are many times
frustrated.
2011-06-13
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/31497/1/MPRA_paper_31497.pdf
Kakarot-Handtke, Egmont (2011): Properties of an economy without human beings.
en
oai:mpra.ub.uni-muenchen.de:31992
2019-09-27T14:29:04Z
7374617475733D756E707562
7375626A656374733D44:4435:443530
7375626A656374733D41:4131:413133
7375626A656374733D4E:4E31:4E3137
7375626A656374733D45:4536:453631
7375626A656374733D41:4131:413131
7375626A656374733D42:4234:423431
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/31992/
The SADC region and EPA/EBAI – trade balance analysis
Sukati, Mphumuzi
D50 - General
A13 - Relation of Economics to Social Values
N17 - Africa ; Oceania
E61 - Policy Objectives ; Policy Designs and Consistency ; Policy Coordination
A11 - Role of Economics ; Role of Economists ; Market for Economists
B41 - Economic Methodology
This paper investigates the potential trade balance outcomes of the EPA/EBAI policies in the SADC region using the GTAP7 model and database. The analysis of these policies therefore make conclusion on SADC member states’ changes in trade balance overall, per commodity groups and on overall welfare outcomes as a result of these policies. The study has found that although the EPA/EBAI initiative policies will potentially result in overall welfare gain in the SADC region this welfare gain will only be 6% of the EU27. Analysis of trade balance outcome reveals that the SADC ACP region will suffer a negative trade balance of US$1596.8 million with the EU on the other hand having a positive trade balance of US$105.61 million. Since a positive trade balance is important for sustainable development of nations, these results once again throw into doubt the potential sustainable economic growth benefits of these policies to ACP countries.
2011-07-04
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/31992/1/MPRA_paper_31992.pdf
Sukati, Mphumuzi (2011): The SADC region and EPA/EBAI – trade balance analysis.
en
oai:mpra.ub.uni-muenchen.de:32476
2019-09-27T15:25:04Z
7374617475733D756E707562
7375626A656374733D44:4435:443530
7375626A656374733D45:4533:453332
7375626A656374733D45:4532:453234
7375626A656374733D44:4439:443931
7375626A656374733D4A:4A36:4A3634
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/32476/
A Mechanism of Cyclical Volatility in the Vacancy-Unemployment Ratio: What Is the Source of Rigidity?
Harashima, Taiji
D50 - General
E32 - Business Fluctuations ; Cycles
E24 - Employment ; Unemployment ; Wages ; Intergenerational Income Distribution ; Aggregate Human Capital ; Aggregate Labor Productivity
D91 - Intertemporal Household Choice ; Life Cycle Models and Saving
J64 - Unemployment: Models, Duration, Incidence, and Job Search
The conventional search and matching model has been criticized for its inability to explain large cyclical volatility in the vacancy-unemployment ratio without ad hoc assumptions of wage rigidity. This paper presents a mechanism of such volatility without assuming wage rigidity by showing that households can rationally select a Nash equilibrium consisting of strategies of choosing a Pareto inefficient transition path. This type of path is generated after a time preference shock and causes a persistently large amount of extra unutilized resources. The labor market is thereby distorted and becomes more cyclically volatile. Vacancy costs are particularly affected by this Nash equilibrium. Because this Pareto inefficient path proceeds “rigidly,” that is, the Pareto inefficiency diminishes gradually, an ingredient of rigidity is introduced into the economy, and the vacancy-unemployment ratio experiences large cyclical fluctuations.
2011-08-01
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/32476/1/MPRA_paper_32476.pdf
Harashima, Taiji (2011): A Mechanism of Cyclical Volatility in the Vacancy-Unemployment Ratio: What Is the Source of Rigidity?
en
oai:mpra.ub.uni-muenchen.de:32535
2019-10-08T05:19:38Z
7374617475733D756E707562
7375626A656374733D44:4435:443530
7375626A656374733D45:4533:453330
7375626A656374733D45:4534:453430
7375626A656374733D45:4532:453230
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/32535/
Properties of an economy without human beings
Kakarot-Handtke, Egmont
D50 - General
E30 - General
E40 - General
E20 - General
Standard economics starts with behavioral axioms and arrives at conclusions about the equilibrium properties of the economy as a whole at point t. The present paper employs objective structural axioms and random changes in
order to determine the conditions for market clearing and budget balancing in the pure consumption economy until the limit t→∞. From the conditions of stochastic supersymmetry six simple behavioral rules are derived that guarantee the desired outcome. These rules contrast with actual behavior and this explains why the plans and expectations of economic man are many times frustrated.
2011-06-13
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/32535/1/MPRA_paper_32535.pdf
Kakarot-Handtke, Egmont (2011): Properties of an economy without human beings.
en
oai:mpra.ub.uni-muenchen.de:32954
2019-09-30T20:55:21Z
7374617475733D756E707562
7375626A656374733D44:4435:443530
7375626A656374733D46:4632:463231
7375626A656374733D4A:4A31:4A3136
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/32954/
Economic liberalization, gender wage inequality and welfare – a theoretical analysis
Mukhopadhyay, Ujjaini
Chaudhuri, Sarbajit
D50 - General
F21 - International Investment ; Long-Term Capital Movements
J16 - Economics of Gender ; Non-labor Discrimination
The paper develops a 3-sector general equilibrium model appropriate for economies with female labour oriented export sector to examine the effects of economic liberalization policies on gender based wage inequality. It is assumed that there exist disparities in efficiencies between male and female labour due to skewed access to education and health, and differences in their spending patterns leading to differential effects of respective wages on their nutrition. The results indicate that tariff cut may reduce gender wage inequality, but may have detrimental effects on welfare; while foreign capital inflow may accentuate the inequality, despite improving the welfare of the economy. However, government policies to increase the provision of education and health have favourable effects on gender wage inequality but may be welfare deteriorating. Thus, the paper provides a theoretical explanation to empirical evidences of diverse effects of liberalization on gender wage inequality and explains the possibility of a trade-off between gender inequality and social welfare.
2011-08-20
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/32954/1/MPRA_paper_32954.pdf
Mukhopadhyay, Ujjaini and Chaudhuri, Sarbajit (2011): Economic liberalization, gender wage inequality and welfare – a theoretical analysis.
en
oai:mpra.ub.uni-muenchen.de:32996
2019-10-06T04:35:32Z
7374617475733D756E707562
7375626A656374733D44:4435:443530
7375626A656374733D44:4434:443430
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/32996/
Primary and secondary markets
Kakarot-Handtke, Egmont
D50 - General
D40 - General
The present paper swaps the standard behavioral axioms for structural axioms and applies the latter to the analysis of the emergence of secondary markets from the flow part of the economy. Real and nominal residuals at first give
rise to the accumulation of the stock of money and the stock of commodities. This stocks constitute the demand and supply side of secondary markets. The pricing in these markets is different from the pricing in the primary
markets. Winnings are different from income or profits. The emergence of secondary markets implies that the plans of households and firms are mutually
incompatible.
2011-08-26
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/32996/1/MPRA_paper_32996.pdf
Kakarot-Handtke, Egmont (2011): Primary and secondary markets.
en
oai:mpra.ub.uni-muenchen.de:33345
2019-09-26T08:37:32Z
7374617475733D756E707562
7375626A656374733D44:4435:443530
7375626A656374733D45:4531:453130
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/33345/
Qualitative and temporal aggregation
Kakarot-Handtke, Egmont
D50 - General
E10 - General
Behavioral assumptions, rational or otherwise, are not solid enough to be eligible as first principles of theoretical economics. Hence all endeavors to lay the formal foundation on a new site and at a deeper level actually need no further vindication. The present paper suggests three non-behavioral axioms as groundwork and applies them to the analysis of qualitative and temporal aggregation in the pure consumption economy. It turns out that the structural axiom set is self-similar with regard to the differentiation of the household- and business sector as well as to the sequencing of time.
2011-09-12
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/33345/1/MPRA_paper_33345.pdf
Kakarot-Handtke, Egmont (2011): Qualitative and temporal aggregation.
en
oai:mpra.ub.uni-muenchen.de:33351
2019-09-27T15:01:32Z
7374617475733D756E707562
7375626A656374733D44:4435:443530
7375626A656374733D45:4531:453130
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/33351/
Qualitative and temporal aggregation
Kakarot-Handtke, Egmont
D50 - General
E10 - General
Behavioral assumptions, rational or otherwise, are not solid enough to be eligible as first principles of theoretical economics. Hence all endeavors to lay the formal foundation on a new site and at a deeper level actually need no further vindication. The present paper suggests three non-behavioral axioms as groundwork and applies them to the analysis of qualitative and temporal aggregation in the pure consumption economy. It turns out that the structural axiom set is self-similar with regard to the differentiation of the household- and business sector as well as to the sequencing of time.
2011-09-12
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/33351/1/MPRA_paper_33351.pdf
Kakarot-Handtke, Egmont (2011): Qualitative and temporal aggregation.
en
oai:mpra.ub.uni-muenchen.de:33730
2019-09-26T19:43:00Z
7374617475733D756E707562
7375626A656374733D44:4435:443530
7375626A656374733D44:4431:443131
7375626A656374733D44:4436:443633
7375626A656374733D49:4933:493332
7375626A656374733D4F:4F31:4F3132
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/33730/
Status, Poverty and Trade
Marjit, Sugata
Roychowdhury, Punarjit
D50 - General
D11 - Consumer Economics: Theory
D63 - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
I32 - Measurement and Analysis of Poverty
O12 - Microeconomic Analyses of Economic Development
The conflict between the income based and nutrition based estimates of poverty is a widely debated issue in economic literature. This paper, using a two commodity framework, attempts to show that in presence of inequality, a status driven utility function can reconcile the conflict between the two measures of poverty. In addition, a simple general equilibrium model using such a utility function is constructed to analyse the implications of social inequality on relative prices and the emerging pattern of trade.
2011
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/33730/1/MPRA_paper_33730.pdf
Marjit, Sugata and Roychowdhury, Punarjit (2011): Status, Poverty and Trade.
en
oai:mpra.ub.uni-muenchen.de:33733
2019-10-04T17:22:52Z
7374617475733D756E707562
7375626A656374733D44:4435:443530
7375626A656374733D46:4631:463131
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/33733/
Recessionary shock and factor return in an underemployed economy
Beladi, Hamid
Mandal, Biswajit
D50 - General
F11 - Neoclassical Models of Trade
This paper builds a general equilibrium model for a small open economy with
unemployment of unskilled labor to assess the impact of a recessionary shock. It
is shown that irrespective of the factor intensity assumption skilled wage and
rental ratio goes up if recession led price fall is significant. However, when the
price fall is not sufficiently big, factor intensity assumption becomes crucial for
the eventual effect on factors’ return ration.
2011
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/33733/1/MPRA_paper_33733.pdf
Beladi, Hamid and Mandal, Biswajit (2011): Recessionary shock and factor return in an underemployed economy.
en
oai:mpra.ub.uni-muenchen.de:33736
2019-09-28T09:37:56Z
7374617475733D756E707562
7375626A656374733D44:4435:443530
7375626A656374733D46:4631:463131
7375626A656374733D4F:4F31:4F3137
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/33736/
Recessionary shock, capital mobility and the informal sector
Mandal, Biswajit
Marjit, Sugata
Beladi, Hamid
D50 - General
F11 - Neoclassical Models of Trade
O17 - Formal and Informal Sectors ; Shadow Economy ; Institutional Arrangements
Using the hybrid of Heckscher - Ohlin and Specific Factor models of trade we show that economic recession led shock results in a loss for both capitalists and skilled workers.
Some of the unionized unskilled workers lose formal sector employment and move onto the informal sector. In case capital moves from formal to the informal, informal employment and wage both can go up in the informal segment. If capital does not move informal employment expands and wage drops. Thus recession may actually benefit a large number of informal workers.
2010-08
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/33736/1/MPRA_paper_33736.pdf
Mandal, Biswajit and Marjit, Sugata and Beladi, Hamid (2010): Recessionary shock, capital mobility and the informal sector.
en
oai:mpra.ub.uni-muenchen.de:33829
2019-09-26T21:08:08Z
7374617475733D756E707562
7375626A656374733D44:4435:443530
7375626A656374733D41:4132:413230
7375626A656374733D46:4631:463131
7375626A656374733D45:4532:453233
7375626A656374733D46:4632:463231
7375626A656374733D45:4530:453030
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/33829/
Market-dependent production set
Egbert, Henrik
Naqvi, Nadeem
D50 - General
A20 - General
F11 - Neoclassical Models of Trade
E23 - Production
F21 - International Investment ; Long-Term Capital Movements
E00 - General
A country’s production possibility frontier or PPF is defined as the boundary of its economy’s production set in the net output space for a given technology and fixed quantities of primary factors of production. In general equilibrium theory, exogenous changes in technology or primary-factor supplies alter equilibrium prices; however, government-policy induced domestic relative commodity price changes do not alter the shape of an economy’s production set. We show that, under international capital mobility, which is empirically significant, the shape of a country’s production set does, in fact, depend on market forces and this shape can be manipulated by government policy.
2011-10-02
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/33829/1/MPRA_paper_33829.pdf
Egbert, Henrik and Naqvi, Nadeem (2011): Market-dependent production set.
en
oai:mpra.ub.uni-muenchen.de:34345
2019-09-27T16:45:31Z
7374617475733D756E707562
7375626A656374733D44:4435:443530
7375626A656374733D44:4434:443431
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/34345/
Frictionless economy and its implementation in real world
Yang, Yu
D50 - General
D41 - Perfect Competition
Frictionless economy is the new concept emerged from late 90s1. Its core idea is to remove the time both suppliers and customers spend on the trial and error on the price. So the markets always perform on the equilibriums. So markets can work in the perfect efficiency. But due to the various reasons, frictionless economy is rarely seen in the real world. The most common reason is lack of information. In last decade, the rise of internet and wide uses of IT technologies within businesses made the collection of information to be easier. Such trend renews people’s interesting on the frictionless economy. In this paper, we examine how exactly frictionless economy works and various reasons to prevent it to happen. We also suggest several solutions allow people to implement the frictionless economy in the real world if the only reason prevent them to have it is lack of information.
2011-10-23
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/34345/1/MPRA_paper_34345.pdf
Yang, Yu (2011): Frictionless economy and its implementation in real world.
en
oai:mpra.ub.uni-muenchen.de:36072
2019-09-26T12:56:13Z
7374617475733D756E707562
7375626A656374733D44:4435:443530
7375626A656374733D44:4437:443733
7375626A656374733D4F:4F31:4F3137
7375626A656374733D44:4436:443630
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/36072/
Bureaucratic reform, informal sector and welfare
Chaudhuri, Sarbajit
Mandal, Biswajit
D50 - General
D73 - Bureaucracy ; Administrative Processes in Public Organizations ; Corruption
O17 - Formal and Informal Sectors ; Shadow Economy ; Institutional Arrangements
D60 - General
In this paper we formulate a three-sector general equilibrium model where one sector produces a service or good used as an intermediate input in two other sectors. Intermediate input here resembles bureaucratic (in)efficiency/control, red-tapism etc. in light of these concerns we introduce informal sector where wage is determined through competitive mechanism. We show that informal wage must go up if bureaucratic efficiency increases in general or if informal sector becomes less prone to bureaucracy related menace. However, in the welfare front the eventual impact depends on whether labor reallocation effect can outweigh the tariff revenue effect.
2012-01-15
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/36072/1/MPRA_paper_36072.pdf
Chaudhuri, Sarbajit and Mandal, Biswajit (2012): Bureaucratic reform, informal sector and welfare.
en
oai:mpra.ub.uni-muenchen.de:36895
2019-10-06T04:24:14Z
7374617475733D756E707562
7375626A656374733D44:4435:443530
7375626A656374733D45:4533:453332
7375626A656374733D45:4532:453234
7375626A656374733D44:4439:443931
7375626A656374733D4A:4A36:4A3634
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/36895/
A mechanism of cyclical volatility in the vacancy-unemployment ratio: what is the source of rigidity?
Harashima, Taiji
D50 - General
E32 - Business Fluctuations ; Cycles
E24 - Employment ; Unemployment ; Wages ; Intergenerational Income Distribution ; Aggregate Human Capital ; Aggregate Labor Productivity
D91 - Intertemporal Household Choice ; Life Cycle Models and Saving
J64 - Unemployment: Models, Duration, Incidence, and Job Search
The conventional search and matching model has been criticized for its inability to explain large cyclical volatility in the vacancy-unemployment ratio without ad hoc assumptions of wage rigidity. This paper presents a mechanism of such volatility without assuming wage rigidity by showing that households can rationally select a Nash equilibrium consisting of strategies of choosing a Pareto inefficient transition path. This type of path is generated after a time preference shock and causes a persistently large amount of extra unutilized resources. The labor market is thereby distorted and becomes more cyclically volatile. Vacancy costs are particularly affected by this Nash equilibrium. Because this Pareto inefficient path proceeds “rigidly,” that is, the Pareto inefficiency diminishes gradually, an ingredient of rigidity is introduced into the economy, and the vacancy-unemployment ratio experiences large cyclical fluctuations.
2011-08-01
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/36895/1/MPRA_paper_36895.pdf
Harashima, Taiji (2011): A mechanism of cyclical volatility in the vacancy-unemployment ratio: what is the source of rigidity?
en
oai:mpra.ub.uni-muenchen.de:37778
2019-10-01T05:17:42Z
7374617475733D756E707562
7375626A656374733D44:4435:443533
7375626A656374733D44:4435:443530
7375626A656374733D44:4434:443430
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/37778/
Existence of equilibrium with unbounded short sales: A new approach
Danilov, Vladimir
Koshovoy, Gleb
Page, Frank
Wooders, Myrna
D53 - Financial Markets
D50 - General
D40 - General
We introduce a new approach to showing existence of equilibrium in models of economies with unbounded short sales. Inspired by the pioneering works of Hart (1974) on asset market models, Grandmont (1977) on temporary economic equilibrium, and of Werner (1987) on general equilibrium exchange economies, all papers known to us stating conditions for existence of equilibrium with unbounded short sales place conditions on recession cones of agents' preferred sets or, more recently, require compactness of the utility possibilities set.. In contrast, in this paper, we place conditions on the preferred sets themselves. Roughly, our condition is that the sum of the weakly preferred sets is a closed set. We demonstrate that our condition implies existence of equilibrium. In addition to our main theorem, we present two theorems showing cases to which our main theorem can we applied. We also relate our condition to the classic condition of Hart (1974).
2011
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/37778/1/MPRA_paper_37778.pdf
Danilov, Vladimir and Koshovoy, Gleb and Page, Frank and Wooders, Myrna (2011): Existence of equilibrium with unbounded short sales: A new approach.
en
oai:mpra.ub.uni-muenchen.de:37921
2019-10-10T13:16:33Z
7374617475733D707562
7375626A656374733D44:4435:443530
7375626A656374733D43:4330
7375626A656374733D4F:4F33:4F3330
7375626A656374733D4F:4F33
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/37921/
How to Reap the Induced Technological Bonus? A Mechanism and Illustrative Implementation
Das, Gouranga
D50 - General
C0 - General
O30 - General
O3 - Innovation ; Research and Development ; Technological Change ; Intellectual Property Rights
Exogenous technical progress can have uneven impacts on productivity contingent on absorptive capacity, structural congruence and trade intensity. The paper illustrates the role of enabling behind-the-border factors for effective absorption and is pertinent for discussing issues like ‘Europe 2020’or Lisbon strategy for inclusive growth. Drawing on our model, we illustrate that the capture-parameter is the propellant force for effective assimilation of foreign technology of recent vintage. The capture parameter is the outcome of endogenous decision-making process. The ‘productivity bonus’ mechanism leaves room for changing the results via skill-mix composition. However, it awaits implementation in a large-scale economy-wide modeling framework for further extension.
2009
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/37921/1/MPRA_paper_37921.pdf
Das, Gouranga (2009): How to Reap the Induced Technological Bonus? A Mechanism and Illustrative Implementation. Published in: Modern Economy , Vol. 1, No. 1 (August 2010): pp. 80-88.
en
oai:mpra.ub.uni-muenchen.de:38167
2019-09-26T12:41:59Z
7374617475733D756E707562
7375626A656374733D44:4435:443530
7375626A656374733D43:4336:433638
7375626A656374733D43:4336:433633
7375626A656374733D43:4335:433530
7375626A656374733D45:4535:453538
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/38167/
Monetary Policies and Nigerian Economy:Simulations from Dynamic Stochastic General Equilibrium(DSGE)Model
Nwaobi, Godwin
D50 - General
C68 - Computable General Equilibrium Models
C63 - Computational Techniques ; Simulation Modeling
C50 - General
E58 - Central Banks and Their Policies
Traditionally, the task of monetary management is usually performed by the monetary authority on behalf of government. However, a key challenge in monetary management is how to deal with uncertainty. Thus, the relevant policy questions must include how best the available instruments of monetary policy be deployed in shock prone mature stabilizers. Therefore, the basic thrust of this paper is to evaluate monetary policy - tradeoffs using a dynamic stochastic general equilibrium(DSGE)model estimated on data for Nigeria.
2012-04-17
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/38167/1/MPRA_paper_38167.pdf
Nwaobi, Godwin (2012): Monetary Policies and Nigerian Economy:Simulations from Dynamic Stochastic General Equilibrium(DSGE)Model.
en
oai:mpra.ub.uni-muenchen.de:38484
2019-09-27T04:46:33Z
7374617475733D707562
7375626A656374733D50:5030
7375626A656374733D44:4435:443530
7375626A656374733D44:4436:443633
7375626A656374733D44:4433:443333
7375626A656374733D4F:4F31:4F3137
7375626A656374733D44:4434:443433
7375626A656374733D50:5031:503136
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/38484/
La crisis económica actual: una visión desde la economía política
Sergio, Reuben
P0 - General
D50 - General
D63 - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
D33 - Factor Income Distribution
O17 - Formal and Informal Sectors ; Shadow Economy ; Institutional Arrangements
D43 - Oligopoly and Other Forms of Market Imperfection
P16 - Political Economy
The paper criticizes the conception of value on behalf of the conventional economic theory, blaming it for the current economic school’s incapacity to explain the actual economic crisis and to offer an adequate perspective to settle a solution. It proposes an explanation based on the tendency to concentration and centralization of capital’s accumulation and its effects on income distribution, which conforms inadequate and unbalanced structures of production and distribution, withdrawn from the appropri-ate and thorough use of scarce common resources. In the middle, long term, these structures determine ruptures in the process of accumulation of capital triggering crisis like the actual. The theory of regulation is used in this paper, in order to explain the growth of concentration and centralization of capital and of social gap during the last years, which is understood as the result of the crisis of Fordist regime of accumu-lation and of the surge of a new transnational regime.
2009-03-03
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/38484/1/MPRA_paper_38484.pdf
Sergio, Reuben (2009): La crisis económica actual: una visión desde la economía política. Published in: Revista de Ciencias Económicas , Vol. 16, No. 2 (3 March 2009): pp. 71-103.
es
oai:mpra.ub.uni-muenchen.de:39337
2019-10-01T10:55:12Z
7374617475733D756E707562
7375626A656374733D44:4435:443530
7375626A656374733D44:4435:443531
7375626A656374733D43:4336:433632
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/39337/
Economy of referential preferences
Goucha, T
D50 - General
D51 - Exchange and Production Economies
C62 - Existence and Stability Conditions of Equilibrium
In this paper we introduce basic notions of new economic model where preference relations on commodities set are represented by a group action on Euclidean space instead of utility function. Conditions that ensure the existence of individual demand functions and a general equilibrium in the setting of exchange economy are examined.
2012-05-12
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/39337/1/MPRA_paper_39337.pdf
Goucha, T (2012): Economy of referential preferences.
en
oai:mpra.ub.uni-muenchen.de:41227
2019-09-26T13:58:47Z
7374617475733D707562
7375626A656374733D44:4435:443530
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/41227/
Transfer Method for Characterizing the Existence of Maximal Elements of Binary Relations on Compact or Noncompact Sets
Tian, Guoqiang
Zhou, Jianxin
D50 - General
This paper systematically studies the existence of maximal elements for unordered binary relation on compact or noncompact sets in a general topological space. This is done by developing a method, called transfer method, to derive various necessary and sufficient conditions that characterize the existence of maximal elements for a binary relation in terms of:(1) (generalized) transitivity conditions under certain topological assumptions;(2) topological conditions under certain (generalized) transitivity assumptions; and (3) (generalized)convexity conditions under certain topological assumptions. There are two basic approaches in the literature to prove the existence by providing sufficient conditions. One assumes certain convexity and continuity conditions for a topological vector space and the other assumes certain weakened transitivity and continuity conditions for a general topological space. The results unify those two approaches and generalize almost all of the existing results in literature.
1992
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/41227/1/MPRA_paper_41227.pdf
Tian, Guoqiang and Zhou, Jianxin (1992): Transfer Method for Characterizing the Existence of Maximal Elements of Binary Relations on Compact or Noncompact Sets. Published in: SIAM Journal on Optimization , Vol. 2, No. 3 (August 1992): pp. 360-375.
en
oai:mpra.ub.uni-muenchen.de:41300
2019-10-03T22:16:34Z
7374617475733D707562
7375626A656374733D44:4435:443530
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/41300/
The Maximum Theorem and the Existence of Nash Equilibrium of (Generalized) Games without Lower Semicontinuities
Tian, Guoqiang
Zhou, Jianxin
D50 - General
In this paper we generalize Berge's Maximum Theorem to the case where the payoff (utility) functions and the feasible action correspondences are not lowersemicontinuous. The condition we introduced is called the Feasible Path Transfer Lower Semicontinuity (in short, FPT l.s.c.). By applying our Maximum Theorem to game theory and economics, we are able to prove the existence of equilibrium for the generalized games (the so-called abstract economics) and Nash equilibrium for games where the payoff functions and the feasible strategy correspondences are not lowersemicontinuous. Thus the existence theorems given in this paper generalize many existence theorems on Nash equilibrium and equilibrium for the generalized games in the literature.
1990-04-17
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/41300/1/MPRA_paper_41300.pdf
Tian, Guoqiang and Zhou, Jianxin (1990): The Maximum Theorem and the Existence of Nash Equilibrium of (Generalized) Games without Lower Semicontinuities. Published in: Journal of Mathematical Analysis and Applications , Vol. 166, (1992): pp. 351-364.
en
oai:mpra.ub.uni-muenchen.de:42044
2019-09-28T16:50:07Z
7374617475733D707562
7375626A656374733D44:4435:443530
7375626A656374733D43:4336:433632
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/42044/
The existence of equilibrium without fixed-point arguments
Maćkowiak, Piotr
D50 - General
C62 - Existence and Stability Conditions of Equilibrium
This paper gives a proof of the existence of general equilibrium without the use of a fixed point theorem. Unlike other results of this type, the conditions we use do not imply that the set of equilibrium prices is convex. We use an assumption on the excess demand correspondence that is related to, but weaker than, the weak axiom of revealed preference (WARP). The proof is carried out for compact and convex valued upper hemicontinuous excess demand correspondences satisfying this WARP-related condition and
some other standard conditions. We also provide an algorithm for finding equilibrium prices.
2010-03-29
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/42044/1/MPRA_paper_42044.pdf
Maćkowiak, Piotr (2010): The existence of equilibrium without fixed-point arguments. Published in: The existence of equilibrium without fixed-point arguments , Vol. 46, No. 6 (2010): pp. 1194-1199.
en
oai:mpra.ub.uni-muenchen.de:42536
2019-09-26T09:50:22Z
7374617475733D756E707562
7375626A656374733D44:4435:443530
7375626A656374733D47:4731:473132
7375626A656374733D44:4438:443831
7375626A656374733D47:4731:473138
7375626A656374733D44:4435:443532
7375626A656374733D47:4731:473130
7375626A656374733D47:4732:473231
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/42536/
Fiancial Innovation, Structuring and Risk Transfer
Vanini, Paolo
D50 - General
G12 - Asset Pricing ; Trading Volume ; Bond Interest Rates
D81 - Criteria for Decision-Making under Risk and Uncertainty
G18 - Government Policy and Regulation
D52 - Incomplete Markets
G10 - General
G21 - Banks ; Depository Institutions ; Micro Finance Institutions ; Mortgages
These lecture notes are about financial innovations. We ask why are there some innovation and how is an innovative idea realized. This forces us to consider practical and structural aspects (regulations, taxation, markets) as key drivers of innovations and also basic formal aspects in valuation.
Contents:
Overview: Taxes and Regulation, Technology, Who Innovates, Life Cycle, Pricing and Hedging Discount Factors and No Arbitrage
Investment: Rule Bases, Alpha, Beta, View and Trade, Fund Industry, Portfolio Theory
Swaps and Financial Markets: IRS, TRS, ALM, ISDA Retail Structured Products Real Estate Asset Class, Green Banking, Demographic Risk
Financial Crisis: Overview Leverage, Systemic Risk, Securitization, Pricing
2012-11
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/42536/1/MPRA_paper_42536.pdf
Vanini, Paolo (2012): Fiancial Innovation, Structuring and Risk Transfer.
en
oai:mpra.ub.uni-muenchen.de:43067
2019-10-02T16:10:41Z
7374617475733D696E7072657373
7375626A656374733D42:4235:423531
7375626A656374733D44:4432
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7375626A656374733D44:4436
7375626A656374733D50:5031
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7375626A656374733D4A:4A33:4A3330
7375626A656374733D4C:4C31
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7375626A656374733D45:4533:453330
7375626A656374733D4C:4C32:4C3236
7375626A656374733D42:4235
7375626A656374733D44:4435:443530
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7375626A656374733D44:4432:443233
7375626A656374733D4C:4C31:4C3133
7375626A656374733D4A:4A33
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7375626A656374733D4D:4D32:4D3230
7375626A656374733D4A:4A32:4A3233
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/43067/
Fundamentos hipotéticos para investigar la crisis económica contemporánea.
Sergio, Reuben
B51 - Socialist ; Marxian ; Sraffian
D2 - Production and Organizations
L11 - Production, Pricing, and Market Structure ; Size Distribution of Firms
D33 - Factor Income Distribution
D3 - Distribution
D6 - Welfare Economics
P1 - Capitalist Systems
E1 - General Aggregative Models
J30 - General
L1 - Market Structure, Firm Strategy, and Market Performance
P0 - General
L2 - Firm Objectives, Organization, and Behavior
D5 - General Equilibrium and Disequilibrium
E30 - General
L26 - Entrepreneurship
B5 - Current Heterodox Approaches
D50 - General
D4 - Market Structure, Pricing, and Design
D23 - Organizational Behavior ; Transaction Costs ; Property Rights
L13 - Oligopoly and Other Imperfect Markets
J3 - Wages, Compensation, and Labor Costs
M2 - Business Economics
D43 - Oligopoly and Other Forms of Market Imperfection
M20 - General
J23 - Labor Demand
The paper seeks to integrate the theoretical developments in the field of imperfect competition and monopoly, and operation of the firm in such conditions, with the theories of income distribution, particularly among the macroeconomic aggregates of capital and labor. And formulating a working hypothesis to focus the breaking of the capital accumulation process expressed in the current economic crisis, from a holistic perspective.
2012-05-25
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/43067/1/MPRA_paper_43067.pdf
Sergio, Reuben (2012): Fundamentos hipotéticos para investigar la crisis económica contemporánea. Forthcoming in: Revista de Ciencias Económicas , Vol. Vol. X, No. #2
es
oai:mpra.ub.uni-muenchen.de:43337
2019-10-02T05:33:45Z
7374617475733D756E707562
7375626A656374733D44:4435:443530
7375626A656374733D44:4434:443430
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/43337/
Primary and secondary markets
Kakarot-Handtke, Egmont
D50 - General
D40 - General
The analytical starting point determines the course of a theoretical investigation
and ultimately the productiveness of an approach. The classics took
production and accumulation as their point of departure, the neoclassics exchange.
Exchange implies behavioral assumptions and notions like rationality,
optimization, and equilibrium. It is widely recognized that this approach has
led into a cul-de-sac. To change a theory means to change its premises or, in
Keynes’s words, to ‘throw over’ the axioms. The present paper swaps the
standard behavioral axioms for structural axioms and applies the latter to the
analysis of the emergence of secondary markets from the flow part of the
economy. Real and nominal residuals at first give rise to the accumulation of
the stock of money and the stock of commodities. These stocks constitute the
demand and supply side of secondary markets. The pricing in these markets is
different from the pricing in the primary markets. Realized appreciation in the
secondary markets is different from income or profit. To treat primary and secondary
markets alike is therefore a category mistake. Vice versa, to take a set
of objective propositions as analytical starting point yields a comprehensive
and consistent theory of market exchange and valuation.
2011-08-26
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/43337/1/MPRA_paper_43337.pdf
Kakarot-Handtke, Egmont (2011): Primary and secondary markets.
en
oai:mpra.ub.uni-muenchen.de:43740
2019-09-26T15:44:04Z
7374617475733D707562
7375626A656374733D5A:5A31:5A3139
7375626A656374733D5A:5A31:5A3133
7375626A656374733D50:5034:503439
7375626A656374733D50:5034:503431
7375626A656374733D48:4831:483131
7375626A656374733D5A:5A30:5A3030
7375626A656374733D4F:4F32:4F3230
7375626A656374733D41:4131:413134
7375626A656374733D48:4831:483139
7375626A656374733D44:4435:443530
7375626A656374733D4F:4F31:4F3130
7375626A656374733D4C:4C32:4C3230
7375626A656374733D47:4733:473330
7375626A656374733D50:5035:503530
7375626A656374733D41:4131:413133
7375626A656374733D50:5030:503030
7375626A656374733D41:4131:413132
7375626A656374733D41:4131:413139
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/43740/
Генезис цивитальной организации: идеология нового мира
Kaluzhsky, M.L.
Z19 - Other
Z13 - Economic Sociology ; Economic Anthropology ; Social and Economic Stratification
P49 - Other
P41 - Planning, Coordination, and Reform
H11 - Structure, Scope, and Performance of Government
Z00 - General
O20 - General
A14 - Sociology of Economics
H19 - Other
D50 - General
O10 - General
L20 - General
G30 - General
P50 - General
A13 - Relation of Economics to Social Values
P00 - General
A12 - Relation of Economics to Other Disciplines
A19 - Other
The monography considers laws and mechanisms of social development from positions of positivism, dialectic materialism and the theory of systems. The methodology of the author is based on causality in relations of a society and social institutes. Social development is considered as result of opposition of a society and the social systems. The author offers new methodology of the analysis of social processes in the conditions of crisis of traditional social philosophy.
2006-04-01
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/43740/1/MPRA_paper_43740.pdf
Kaluzhsky, M.L. (2006): Генезис цивитальной организации: идеология нового мира. Published in: LAP Lambert Academic Publishing GmbH & Co, KG , Vol. full, No. - (2012): pp. 1-416.
ru
oai:mpra.ub.uni-muenchen.de:44547
2019-10-01T21:48:55Z
7374617475733D756E707562
7375626A656374733D43:4330:433030
7375626A656374733D44:4434:443430
7375626A656374733D44:4435:443530
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/44547/
Walras’s law of markets as special case of the general Triangle Theorem: a laconic proof
Kakarot-Handtke, Egmont
C00 - General
D40 - General
D50 - General
From the set of the first three structural axioms follows the - economic -
triangle theorem. It asserts that the product of the three key ratios, which
characterize the firm, the market outcome, and the income distribution, is
always equal to unity. The theorem contains only unit-free variables, is testable
in principle, and involves no behavioral assumptions. The differentiated
triangle theorem applies to an arbitrary number of firms. Therefrom Walras’s
Law can be derived without recourse to demand and supply functions or the
notion of equilibrium.
2013-02-22
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/44547/1/MPRA_paper_44547.pdf
Kakarot-Handtke, Egmont (2013): Walras’s law of markets as special case of the general Triangle Theorem: a laconic proof.
en
oai:mpra.ub.uni-muenchen.de:47300
2019-10-01T18:45:27Z
7374617475733D756E707562
7375626A656374733D44:4435
7375626A656374733D44:4435:443530
7375626A656374733D44:4435:443531
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/47300/
Global invertibility of excess demand functions
Covarrubias, Enrique
D5 - General Equilibrium and Disequilibrium
D50 - General
D51 - Exchange and Production Economies
In this paper we provide necessary and sufficient conditions for the excess demand function of a pure exchange economy to be globally invertible so that there is a unique equilibrium. Indeed, we show that an excess demand function is globally invertible if and only if its Jacobian never vanishes and it is a proper map. Our result includes as special cases many partial results found in the literature that imply global uniqueness including Gale-Nikaido conditions and properties related to stability of equilibria. Furthermore, by showing that the condition is necessary, we are implicitly finding the weakest possible condition.
2013-05-30
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/47300/1/MPRA_paper_47300.pdf
Covarrubias, Enrique (2013): Global invertibility of excess demand functions.
en
oai:mpra.ub.uni-muenchen.de:47404
2019-09-27T13:18:09Z
7374617475733D756E707562
7375626A656374733D44:4435
7375626A656374733D44:4435:443530
7375626A656374733D44:4435:443531
7375626A656374733D44:4435:443533
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/47404/
An extension of the Sard-Smale Theorem to domains with an empty interior
Accinelli, Elvio
Covarrubias, Enrique
D5 - General Equilibrium and Disequilibrium
D50 - General
D51 - Exchange and Production Economies
D53 - Financial Markets
This work extends the Sard-Smale Theorem to maps between convex subsets of Banach spaces that may have an empty interior.
2013-05-22
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/47404/1/MPRA_paper_47404.pdf
Accinelli, Elvio and Covarrubias, Enrique (2013): An extension of the Sard-Smale Theorem to domains with an empty interior.
en
oai:mpra.ub.uni-muenchen.de:47455
2019-09-28T11:15:18Z
7374617475733D707562
7375626A656374733D44:4435
7375626A656374733D44:4435:443530
7375626A656374733D46:4631:463130
7375626A656374733D46:4631:463131
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/47455/
Fragmentation in Production, Vertical Integration and Wage Inequality: A Theoretical Note
Das, Gouranga
D5 - General Equilibrium and Disequilibrium
D50 - General
F10 - General
F11 - Neoclassical Models of Trade
Developing a three-sector and four-factor general equilibrium model, this paper offers an explanation of wage inequality in a vertically fragmented production structure typical of off-shore outsourcing to developing countries like China or India. The model characterizes a typical developing economy where intermediate good is produced using capital and local low-skilled worker, traditional sector uses unskilled worker to produce agricultural products and skilled worker works in tandem with intermediates to produce final goods for export. The model furnishes that wage dispersion could be explained theoretically in this specific-factor general equilibrium structure where factor returns are endogenously determined within a production structure with middle products. In particular, scenario analysis shows that increase in relative price of final good aggravates wage inequality, whereas opposite happens when price of intermediates and import-competing sector inflates. Skilling the unskilled and protecting the sector intensive in low-skilled could attenuate the adverse impact.
2012-12-15
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/47455/1/MPRA_paper_47455.pdf
Das, Gouranga (2012): Fragmentation in Production, Vertical Integration and Wage Inequality: A Theoretical Note. Published in: Modern Economy , Vol. 6, No. 3 (29 December 2012): pp. 958-964.
en
oai:mpra.ub.uni-muenchen.de:47573
2019-09-26T08:49:31Z
7374617475733D756E707562
7375626A656374733D44:4435
7375626A656374733D44:4435:443530
7375626A656374733D44:4435:443531
7375626A656374733D44:4435:443533
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/47573/
An extension of the Sard-Smale Theorem to domains with an empty interior
Accinelli, Elvio
Covarrubias, Enrique
D5 - General Equilibrium and Disequilibrium
D50 - General
D51 - Exchange and Production Economies
D53 - Financial Markets
This work extends the Sard-Smale Theorem to maps between convex subsets of Banach spaces that may have an empty interior.
2013-05-22
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/47573/8/MPRA_paper_47573.pdf
Accinelli, Elvio and Covarrubias, Enrique (2013): An extension of the Sard-Smale Theorem to domains with an empty interior.
en
oai:mpra.ub.uni-muenchen.de:49169
2019-10-21T03:44:06Z
7374617475733D756E707562
7375626A656374733D44:4435:443530
7375626A656374733D51:5130:513030
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/49169/
Eco-Labelling and the Labour Market
Sen, Anindita
D50 - General
Q00 - General
In this paper I try to analyse the impact of environmental policies in the presence of eco-labelling on the wage level and production levels. For this I start with a general equilibrium framework where a country produces two traded goods using labour and capital, one of which pollutes when consumed. The pollution generated depends on the abatement technology used by the firms and also the scale of production and affects the health of workers and labour productivity. Since the consumers are adversely affected by the pollution generation, they are willing to pay a higher price for a cleaner variety of the dirty good. However, since the pollution is generated during production, they cannot judge the cleanliness of a good. Here the government steps in, monitors the pollution generation and issues an eco-labelling certificate regarding the quality. In this framework, analyse the impact of environmental standards on the wage levels and production. I find that a minimum standard adversely affects the wage rate, unless the productivity effect is very small. However, the eco-labelling process aides the labour market as it tempers the impact of the standard on wages.
2012-12-18
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/49169/1/MPRA_paper_49169.pdf
Sen, Anindita (2012): Eco-Labelling and the Labour Market.
en
oai:mpra.ub.uni-muenchen.de:49170
2019-10-03T04:44:10Z
7374617475733D707562
7375626A656374733D43:4330
7375626A656374733D43:4330:433030
7375626A656374733D43:4330:433032
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7375626A656374733D43:4333:433338
7375626A656374733D43:4333:433339
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7375626A656374733D43:4334:433439
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7375626A656374733D43:4335:433531
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7375626A656374733D43:4336:433638
7375626A656374733D43:4336:433639
7375626A656374733D44:4430:443030
7375626A656374733D44:4430:443031
7375626A656374733D44:4431:443130
7375626A656374733D44:4431:443133
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7375626A656374733D44:4435:443538
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7375626A656374733D45:4532:453231
7375626A656374733D45:4532:453232
7375626A656374733D45:4532:453233
7375626A656374733D45:4532:453234
7375626A656374733D45:4532:453237
7375626A656374733D45:4533:453330
7375626A656374733D45:4533:453331
7375626A656374733D45:4533:453332
7375626A656374733D45:4533:453337
7375626A656374733D46:4632:463231
7375626A656374733D46:4632:463232
7375626A656374733D46:4636:463630
7375626A656374733D46:4636:463632
7375626A656374733D46:4636:463633
7375626A656374733D46:4636:463636
7375626A656374733D4A:4A30:4A3030
7375626A656374733D4A:4A31:4A3131
7375626A656374733D4A:4A32:4A3230
7375626A656374733D4A:4A33:4A3330
7375626A656374733D4A:4A33:4A3331
7375626A656374733D4A:4A36:4A3631
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/49170/
European Union Economy System Dynamic Model Development
Skribans, Valerijs
C0 - General
C00 - General
C02 - Mathematical Methods
C15 - Statistical Simulation Methods: General
C30 - General
C38 - Classification Methods ; Cluster Analysis ; Principal Components ; Factor Models
C39 - Other
C40 - General
C49 - Other
C50 - General
C51 - Model Construction and Estimation
C53 - Forecasting and Prediction Methods ; Simulation Methods
C60 - General
C68 - Computable General Equilibrium Models
C69 - Other
D00 - General
D01 - Microeconomic Behavior: Underlying Principles
D10 - General
D13 - Household Production and Intrahousehold Allocation
D20 - General
D24 - Production ; Cost ; Capital ; Capital, Total Factor, and Multifactor Productivity ; Capacity
D31 - Personal Income, Wealth, and Their Distributions
D50 - General
D58 - Computable and Other Applied General Equilibrium Models
E2 - Consumption, Saving, Production, Investment, Labor Markets, and Informal Economy
E20 - General
E21 - Consumption ; Saving ; Wealth
E22 - Investment ; Capital ; Intangible Capital ; Capacity
E23 - Production
E24 - Employment ; Unemployment ; Wages ; Intergenerational Income Distribution ; Aggregate Human Capital ; Aggregate Labor Productivity
E27 - Forecasting and Simulation: Models and Applications
E30 - General
E31 - Price Level ; Inflation ; Deflation
E32 - Business Fluctuations ; Cycles
E37 - Forecasting and Simulation: Models and Applications
F21 - International Investment ; Long-Term Capital Movements
F22 - International Migration
F60 - General
F62 - Macroeconomic Impacts
F63 - Economic Development
F66 - Labor
J00 - General
J11 - Demographic Trends, Macroeconomic Effects, and Forecasts
J20 - General
J30 - General
J31 - Wage Level and Structure ; Wage Differentials
J61 - Geographic Labor Mobility ; Immigrant Workers
The formation of the European Union (EU) is the one of the biggest political – economic events of the last 50 years. The aim of this study is to develop EU economy functioning system dynamic model. Main research method is system dynamics. General scheme of EU economy system dynamic model is shown. Implementing the model in practice, new EU member economic integration model in EU is developed. Model is tested only for one EU country, Latvia. Results of the paper show failure of the mechanism of EU operations. The available mechanism contradicts EU principles; it doesn't promote the cohesion in European Union, but quite opposite - leads to solving problems of well-developed EU countries at the expense of developing countries. In the given conditions the example of Latvia shows that there is no possibility to overcome the system crisis. These circumstances specify necessity of changes in EU internal migratory policy, changes in principles of developing countries’ support in EU, and changes in distribution of EU means, taking into account internal migration.
2012
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/49170/1/MPRA_paper_49170.pdf
Skribans, Valerijs (2012): European Union Economy System Dynamic Model Development. Published in: Proceedings of the 30th International Conference of the System Dynamics Society (2012): pp. 3687-3697.
en
oai:mpra.ub.uni-muenchen.de:51820
2019-10-15T16:34:03Z
7374617475733D756E707562
7375626A656374733D44:4435:443530
7375626A656374733D44:4435:443531
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/51820/
A remark on definable paths in regular O-minimal equilibrium manifolds
Arias-R., Omar Fdo.
D50 - General
D51 - Exchange and Production Economies
The main purpose of this paper is to remark that any definable continuous path linking two regular equilibria in a regular O-minimal equilibrium manifold intersects a finite number of definable connected components locally determined. We apply the cell decomposition theorem to decompose the definable equilibrium manifold in finite connected components, the definable triviality theorem to local determinacy in each component, and the definable curve selection to have continuous paths in the manifold.
2013-11-30
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/51820/1/MPRA_paper_51820.pdf
Arias-R., Omar Fdo. (2013): A remark on definable paths in regular O-minimal equilibrium manifolds.
en
oai:mpra.ub.uni-muenchen.de:52518
2019-10-08T16:28:14Z
7374617475733D707562
7375626A656374733D44:4435:443530
7375626A656374733D4A:4A32:4A3234
7375626A656374733D4A:4A33:4A3331
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/52518/
Impact of Property Rights in Human Capital on Regional Factors Proportions
Gallaway, Lowell
Cebula, Richard
D50 - General
J24 - Human Capital ; Skills ; Occupational Choice ; Labor Productivity
J31 - Wage Level and Structure ; Wage Differentials
Although the case for treating human capital as a productive factor is clear, its introduction presents complications since ownership of (or property rights in) human capital cannot be separated from the ownership of (or property rights in) labor itself. Consider a two-region economy. When labor moves in response to economic differentials, human capital also moves. This may have the effect of necessitating a revision in the standard theoretical conclusion that with more than two factors of production, factor rewards and factor proportions will be equalized between the regions. This theoretical model demonstrates that an equilibrium will be achieved in which both the capital/labor ratios and the quantity of investment per worker in human capital differ from one another by precisely the amount necessary to produce the same return to capital in both regions as well as an equalization of the total wage rates which represent the combined return to both labor and human capital
1971-11-25
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/52518/1/MPRA_paper_52518.pdf
Gallaway, Lowell and Cebula, Richard (1971): Impact of Property Rights in Human Capital on Regional Factors Proportions. Published in: Journal of Economics , Vol. 32, No. 4 (23 December 1972): pp. 501-503.
en
oai:mpra.ub.uni-muenchen.de:52759
2019-09-30T17:43:12Z
7374617475733D756E707562
7375626A656374733D44:4435:443530
7375626A656374733D44:4435:443531
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/52759/
A short note on the definable Debreu map in regular O-minimal equilibrium manifolds
Arias-R., Omar Fdo.
D50 - General
D51 - Exchange and Production Economies
The main purpose of this paper is to outline that the definable Debreu map is a local definable diffeomorphism. It implies the equilibrium is locally determined in each connected component partitioning a regular O-minimal equilibrium manifold. It complements the result in Theorem 5 of Arias-R. (2013) and converges to the local determinacy result of definable competitive equilibrium of Blume and Zame (1992).
2014-01-06
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/52759/1/MPRA_paper_52759.pdf
Arias-R., Omar Fdo. (2014): A short note on the definable Debreu map in regular O-minimal equilibrium manifolds.
en
oai:mpra.ub.uni-muenchen.de:53558
2019-09-27T17:36:12Z
7374617475733D756E707562
7375626A656374733D41:4131:413130
7375626A656374733D44:4435:443530
7375626A656374733D45:4533:453332
7375626A656374733D50:5031:503130
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/53558/
A New Theory of Capitalism: Key Moments and General Logic
Zheleznyak, Anatoliy
A10 - General
D50 - General
E32 - Business Fluctuations ; Cycles
P10 - General
A new theory of capitalism is suggested. Its key moments and general logic are presented. This theory is based on the distinction between two market types – the simple commodity market and the capitalist one. Disequilibrium and "imperfect competition" are admitted to be a functional norm of capitalism. Respectively, an equilibrium and "perfect competition" are admitted to be a functional anomaly; crises are considered as the result of such an anomaly. General principles and concrete measures of crisis-proof policy and crisis-proof behavior are suggested.
2013-11
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/53558/1/MPRA_paper_53558.pdf
Zheleznyak, Anatoliy (2013): A New Theory of Capitalism: Key Moments and General Logic.
en
oai:mpra.ub.uni-muenchen.de:53622
2019-10-21T04:07:31Z
7374617475733D756E707562
7375626A656374733D41:4131:413130
7375626A656374733D44:4435:443530
7375626A656374733D45:4533:453332
7375626A656374733D50:5031:503132
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/53622/
Новая теория капитализма: узловые моменты и общая логика
Zheleznyak, Anatoliy
A10 - General
D50 - General
E32 - Business Fluctuations ; Cycles
P12 - Capitalist Enterprises
A new theory of capitalism is suggested. Its key moments and general logic are presented. This theory is based on the distinction between two market types – the simple commodity market and the capitalist one. Disequilibrium and "imperfect competition" are admitted to be a functional norm of capitalism. Respectively, an equilibrium and "perfect competition" are admitted to be a functional anomaly; crises are considered as the result of such an anomaly. General principles and concrete measures of crisis-proof policy and crisis-proof behavior are suggested.
2013-09
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/53622/1/MPRA_paper_53622.pdf
Zheleznyak, Anatoliy (2013): Новая теория капитализма: узловые моменты и общая логика.
ru
oai:mpra.ub.uni-muenchen.de:53962
2019-09-27T00:14:30Z
7374617475733D756E707562
7375626A656374733D44:4435:443530
7375626A656374733D44:4435:443538
7375626A656374733D44:4436
7375626A656374733D44:4436:443633
7375626A656374733D45:4532:453230
7375626A656374733D46:4630
7375626A656374733D46:4634
7375626A656374733D46:4634:463433
7375626A656374733D4C:4C31
7375626A656374733D4C:4C35
7375626A656374733D4C:4C35:4C3530
7375626A656374733D4D:4D32:4D3230
7375626A656374733D4F:4F31
7375626A656374733D4F:4F32
7375626A656374733D51:5130
7375626A656374733D51:5135:513530
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/53962/
Inequality,Poverty and Hunger in Developing Countries: Sustainability Implications
Nwaobi, Godwin
D50 - General
D58 - Computable and Other Applied General Equilibrium Models
D6 - Welfare Economics
D63 - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
E20 - General
F0 - General
F4 - Macroeconomic Aspects of International Trade and Finance
F43 - Economic Growth of Open Economies
L1 - Market Structure, Firm Strategy, and Market Performance
L5 - Regulation and Industrial Policy
L50 - General
M20 - General
O1 - Economic Development
O2 - Development Planning and Policy
Q0 - General
Q50 - General
For several decades, the international community has aspired to integrate the social, economic and environmental dimensions of sustainability. Yet, no country has achieved the patterns of consumption and production that could sustain global prosperity in the coming decades. Thus, with the increasing pace at which domestic markets are becoming integrated into the global economy, the debate on income disparities around the world has intensified. For the African, Caribbean and Pacific regions, it has become clear that it is not enough to help the poor and vulnerable survive short-term shocks. Particularly important, will be the ability of these economies to create new value-added products, processes and business models through innovation. In other words, competitiveness is a necessary but not sufficient condition for continued prosperity. Hence, the need for adjusted social and environmental sustainability measures of growth in these economies. Using Global Income Distribution Dynamics Model (GIDD) and Global General Equilibrium Model (LINKAGE), the paper predicts a reduction in regional income inequality by 2030. However, the potential reduction can be fully accounted for by the projected convergence in average income across countries. Consequently, the paper recommends the need to build the resilience of vulnerable populations of the African, Caribbean and Pacific (ACP) countries for the purposes of stability and Godliness.
2014-02-26
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/53962/1/MPRA_paper_53962.pdf
Nwaobi, Godwin (2014): Inequality,Poverty and Hunger in Developing Countries: Sustainability Implications.
en
oai:mpra.ub.uni-muenchen.de:54111
2019-09-27T02:22:55Z
7374617475733D756E707562
7375626A656374733D44:4435:443530
7375626A656374733D46:4632:463231
7375626A656374733D4A:4A31:4A3136
7375626A656374733D4A:4A31:4A3138
7375626A656374733D4A:4A32:4A3231
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/54111/
Economic Reforms and Gender-based Wage Inequality in the Presence of Factor Market Distortions
Chaudhuri, Sarbajit
Roychowdhury, Somasree
D50 - General
F21 - International Investment ; Long-Term Capital Movements
J16 - Economics of Gender ; Non-labor Discrimination
J18 - Public Policy
J21 - Labor Force and Employment, Size, and Structure
A simple three-sector general equilibrium model has been developed with both male and female labour and factor market distortions. The effects of different liberalized economic policies have been examined on the gender-based wage inequality. The analysis finds that credit market reform and tariff reform produce favourable effects on the wage inequality while the liberalized investment policy becomes counterproductive. These results have important policy implications for a small open developing economy.
2014-03-04
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/54111/1/MPRA_paper_54111.pdf
Chaudhuri, Sarbajit and Roychowdhury, Somasree (2014): Economic Reforms and Gender-based Wage Inequality in the Presence of Factor Market Distortions.
en
oai:mpra.ub.uni-muenchen.de:54297
2019-10-01T15:23:05Z
7374617475733D756E707562
7375626A656374733D44:4435:443530
7375626A656374733D44:4435:443531
7375626A656374733D44:4435:443532
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/54297/
On the pseudo-equilibrium manifold in semi-algebraic economies with real financial assets
Arias-R., Omar Fdo.
D50 - General
D51 - Exchange and Production Economies
D52 - Incomplete Markets
The aim of this paper is to prove that if the consumption set of an economy with incomplete financial markets is semi-algebraic, then the corresponding pseudo-equilibrium manifold is also semi-algebraic. For this, we proceed by constructing an incomplete financial economy with real assets and semi-algebraic utility functions. Then, we show that the spot-equilibrium set and the pseudo-equilibrium set are smooth semi-algebraic manifolds. We extent this results by showing that the pseudo-equilibrium natural projection is a semi-algebraic diffeomorphism in each regular point of the semi-algebraic pseudo-equilibrium
manifold. It is directly related with the local determinacy of pseudo-equilibrium.
2014-03-09
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/54297/1/MPRA_paper_54297.pdf
Arias-R., Omar Fdo. (2014): On the pseudo-equilibrium manifold in semi-algebraic economies with real financial assets.
en
oai:mpra.ub.uni-muenchen.de:55031
2019-09-27T17:32:41Z
7374617475733D756E707562
7375626A656374733D42:4235:423539
7375626A656374733D44:4430:443031
7375626A656374733D44:4435:443530
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/55031/
Objective Principles of Economics
Kakarot-Handtke, Egmont
B59 - Other
D01 - Microeconomic Behavior: Underlying Principles
D50 - General
Economists have the habit of solving the wrong problems. They speculate
circumstantially about the behavior of agents and do not come to grips with
the behavior of the monetary economy. This is the consequence of the methodological
imperative that all explanations must run in terms of the actions and
reactions of individuals. The critical point is that no way leads from the
understanding of the interaction of the individuals to the understanding of the
working of the economy as a whole. The solution consists in moving from
subjective-behavioral axioms to objective-structural axioms, i.e. from past to
future.
2014-04-03
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/55031/1/MPRA_paper_55031.pdf
Kakarot-Handtke, Egmont (2014): Objective Principles of Economics.
en
oai:mpra.ub.uni-muenchen.de:58190
2019-10-04T04:40:12Z
7374617475733D707562
7375626A656374733D44:4435:443530
7375626A656374733D4D:4D33:4D3331
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/58190/
Конкурентоспособность в маркетинге
Kaluzhsky, Mikhail
D50 - General
M31 - Marketing
Article about alternative interpretations of the concept of "competition" as the adaptive behavior of market participants. The author substantiates the thesis of the identity of market adaptation and market competition rather than rivalry.
2006
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/58190/1/MPRA_paper_58190.pdf
Kaluzhsky, Mikhail (2006): Конкурентоспособность в маркетинге. Published in: Апрельские экономические чтения: Межвуз. Сб. науч. тр. No. 11 (2006): pp. 26-30.
ru
oai:mpra.ub.uni-muenchen.de:59718
2019-09-28T16:37:10Z
7374617475733D756E707562
7375626A656374733D41:4131:413132
7375626A656374733D44:4435
7375626A656374733D44:4435:443530
7375626A656374733D45:4531
7375626A656374733D45:4531:453137
7375626A656374733D47:4730
7375626A656374733D48:4836
7375626A656374733D48:4836:483632
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/59718/
Human Behavior Paradox and a Social Science Interpretation of Quantum Mechanics
Wayne, James J.
A12 - Relation of Economics to Other Disciplines
D5 - General Equilibrium and Disequilibrium
D50 - General
E1 - General Aggregative Models
E17 - Forecasting and Simulation: Models and Applications
G0 - General
H6 - National Budget, Deficit, and Debt
H62 - Deficit ; Surplus
Are financial markets predictable? How to predict the financial markets? These important questions are not answerable in the existing framework of either finance or economics. This paper shows in details that these questions are also not answerable in the existing framework of modern physics. In order to answer these important questions, this papers shows that one must develop a new interpretation of quantum mechanics which makes social science to be a branch of quantum physics like optics and chemistry. By critically examining the question how to predict the human behavior using Newtonian physics, special relativity, general relativity, thermodynamics, and QM with the Copenhagen interpretation, this paper reaches a stunning conclusion that the existing laws in all branches of physics can neither explain nor forecast the human behavior. This is the intolerable human behavior paradox facing physicists today: on one hand, the modern physics can explain and forecast the behavior of physical systems ranging from the tiniest elementary particles to the largest structures of the visible universe with amazing accuracy; on the other hand, ironically the existing physics cannot explain nor forecast the human behavior in our everyday life. The most important contribution of this paper is to prove that it is much easier to solve the measurement problem in QM, the human paradox, and many unanswerable questions in social science together than to solve them individually. This paper proposes a new interpretation, called JJW interpretation of QM, to replace the flawed Copenhagen interpretation and solve the measurement problem, human paradox, and many unanswerable questions in social science. The central points of JJW interpretation of QM is condensed into five new fundamental laws of physics, which are called physics laws of social science (PLSS). PLSS turns out to be a very powerful tool for social science because it reformulates every single problem in economics, politics, and other branches of social science into a physics problem. PLSS solves many outstanding fundamental questions in social science: how humanity should govern itself, whether the future can be forecasted, and how to predict the future. In economics, a fundamental equation of economics can be derived from PLSS. The fundamental equation of economics invalidates many popular economic theories and models, and concludes that the existing economics is not really a science without an extensive house cleaning. In political science, PLSS leads a conclusion that US constitution has many fundamental design flaws, and the permanent world peace is theoretically and practically feasible. Based on the extensive empirical evidence of human behavior supporting PLSS and the profound logical consequence of PLSS, this paper concludes that JJW interpretation is probably the correct interpretation of QM. This paper also shows that JJW interpretation of quantum mechanics is experimentally testable.
2014-10-28
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/59718/1/MPRA_paper_59718.pdf
Wayne, James J. (2014): Human Behavior Paradox and a Social Science Interpretation of Quantum Mechanics.
en
oai:mpra.ub.uni-muenchen.de:59858
2019-09-29T12:18:47Z
7374617475733D756E707562
7375626A656374733D41:4131:413132
7375626A656374733D42:4231
7375626A656374733D42:4232
7375626A656374733D44:4430
7375626A656374733D44:4430:443031
7375626A656374733D44:4435
7375626A656374733D44:4435:443530
7375626A656374733D44:4438
7375626A656374733D45:4530
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/59858/
Psychohistory Paradox and Introduction to Quantum Social Science
Wayne, James J.
A12 - Relation of Economics to Other Disciplines
B1 - History of Economic Thought through 1925
B2 - History of Economic Thought since 1925
D0 - General
D01 - Microeconomic Behavior: Underlying Principles
D5 - General Equilibrium and Disequilibrium
D50 - General
D8 - Information, Knowledge, and Uncertainty
E0 - General
Why would social science need the help from quantum mechanics? First, there are many unanswerable questions in social science. Are financial markets predictable? How to predict the financial markets? These important questions are not answerable in the existing framework of finance or economics. One important paradox in social science is the psychohistory paradox proposed by Asimov. In his novels, Asimov highlighted a paradox of human society: if the future events of a human society are predictable using psychohistory, people could take the advantage of that prediction to prevent the future events from happening, and the original prediction would be proven wrong. The psychohistory paradox is very real and fundamental in the human society. Second, the existing framework of modern physics can neither explain nor predict the human behavior. It is ridiculous and totally unacceptable that the same modern physics, which often boasts about the accurate descriptions and predictions of the tinniest elementary particles to the largest structures of the universe with amazing accuracies, cannot handle the simple human behavior observed in our everyday life. The flaws of the existing framework of modern physics must be fixed. Third, it is the internal logic of science. If the human free will is a quantum phenomenon as many people believe and social science is all about human choices, social science must be a branch of quantum physics. Fourth and last, quantum social science, or psychohistory, brings powerful tools and new insights to social science. Quantum social science can answer all the previously unanswerable fundamental questions in social science, and re-frame every problem in politics, economics, and other social science to be a physics problem. This paper summarizes the logic flow from the creation of JJW interpretation of quantum mechanics and physics laws of social science (PLSS) to their impacts on economics, finance, politics, and other fields of social science, natural science, and theology. Since many applications of PLSS are still unknown, this paper serves as an introduction to quantum social science and its applications. The central ideas of PLSS are very simple, yet it has profound logic consequences on many corners of human knowledge. The primary goal of this paper is to convey the beauty and simplicity of the framework of quantum social science or psychohistory.
2014-10-31
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/59858/1/MPRA_paper_59858.pdf
Wayne, James J. (2014): Psychohistory Paradox and Introduction to Quantum Social Science.
en
oai:mpra.ub.uni-muenchen.de:60964
2019-09-30T02:31:14Z
7374617475733D756E707562
7375626A656374733D41:4131:413130
7375626A656374733D42:4235:423530
7375626A656374733D44:4430:443030
7375626A656374733D44:4435:443530
7375626A656374733D45:4530:453030
7375626A656374733D45:4533:453332
7375626A656374733D50:5030:503030
7375626A656374733D50:5031:503130
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/60964/
Новая теория рынка и капитализма. В 3-х частях. Предисловие
Zheleznyak, Anatoliy
A10 - General
B50 - General
D00 - General
D50 - General
E00 - General
E32 - Business Fluctuations ; Cycles
P00 - General
P10 - General
A new heterodox theory of market and capitalism is suggested. Its key moments and general logic are presented. The theory is based on the distinction between two market types – the simple commodity market and the capitalist one. Disequilibrium and "imperfect competition" are admitted to be a functional norm of capitalist market. Respectively, an equilibrium and "perfect competition" are admitted to be a functional anomaly; crises are considered as the result of such an anomaly. General principles and concrete measures of crisis-proof policy and crisis-proof behavior are suggested.
The theory consists of three interconnected parts – a theory of market, a theory of value and a theory of capitalism. Every part is shaped as a separate text (with its abstract, introduction, conclusions and other attributes). Comparison with alternative theories is made in each part.
This text contains a common preface and common references only.
2014-12
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/60964/1/MPRA_paper_60964.pdf
Zheleznyak, Anatoliy (2014): Новая теория рынка и капитализма. В 3-х частях. Предисловие.
ru
oai:mpra.ub.uni-muenchen.de:60967
2019-09-30T12:12:36Z
7374617475733D756E707562
7375626A656374733D41:4131:413130
7375626A656374733D42:4235:423530
7375626A656374733D44:4430:443030
7375626A656374733D44:4435:443530
7375626A656374733D45:4530:453030
7375626A656374733D50:5030:503030
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/60967/
Новая теория рынка и капитализма. В 3-х частях. Часть 1. Рынок
Zheleznyak, Anatoliy
A10 - General
B50 - General
D00 - General
D50 - General
E00 - General
P00 - General
A new heterodox theory of market is suggested. Its key moments are presented. The theory is based on the distinction between two market types – the simple commodity market and the capitalist one. Definitions of market and of each of its types are given. Internal logic of transition from the former to the latter is considered. Comparison with alternative theories is made.
2014-12
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/60967/1/MPRA_paper_60967.pdf
Zheleznyak, Anatoliy (2014): Новая теория рынка и капитализма. В 3-х частях. Часть 1. Рынок.
ru
oai:mpra.ub.uni-muenchen.de:60969
2019-09-27T11:13:35Z
7374617475733D756E707562
7375626A656374733D41:4131:413130
7375626A656374733D44:4430:443030
7375626A656374733D44:4434:443436
7375626A656374733D44:4435:443530
7375626A656374733D45:4530:453030
7375626A656374733D45:4533:453331
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/60969/
Новая теория рынка и капитализма. В 3-х частях. Часть 2. Стоимость
Zheleznyak, Anatoliy
A10 - General
D00 - General
D46 - Value Theory
D50 - General
E00 - General
E31 - Price Level ; Inflation ; Deflation
A new theory of value is suggested. Its key moments and general logic are presented. The theory has all-purpose nature (is applicable to any commodities, any markets and any market situations). Value is considered as a multicomponent notion which characterizes commodity's internal behaviour (i.e. behaviour independent of market conjuncture). Labour and use values as well as supply and demand ones are interpreted as different components of total value. The role of these components in pricing on balanced and unbalanced markets is investigated. The fundamental conclusion about relationship between value and social psychology and culture is made. Comparison with alternative theories is made.
2014-12
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/60969/1/MPRA_paper_60969.pdf
Zheleznyak, Anatoliy (2014): Новая теория рынка и капитализма. В 3-х частях. Часть 2. Стоимость.
ru
oai:mpra.ub.uni-muenchen.de:60970
2019-09-30T17:00:51Z
7374617475733D756E707562
7375626A656374733D41:4131:413130
7375626A656374733D42:4235:423530
7375626A656374733D44:4430:443030
7375626A656374733D44:4435:443530
7375626A656374733D45:4530:453030
7375626A656374733D45:4533:453332
7375626A656374733D50:5031:503130
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/60970/
Новая теория рынка и капитализма. В 3-х частях. Часть 3. Капитализм
Zheleznyak, Anatoliy
A10 - General
B50 - General
D00 - General
D50 - General
E00 - General
E32 - Business Fluctuations ; Cycles
P10 - General
A new heterodox theory of capitalism is suggested. Its key moments and general logic are presented. Capitalism is considered as a special case of market, as its higher form. Disequilibrium and "imperfect competition" are admitted to be a functional norm of capitalism. Respectively, an equilibrium and "perfect competition" are admitted to be a functional anomaly; crises are considered as the result of such an anomaly. General principles and concrete measures of crisis-proof policy and crisis-proof behavior are suggested. Comparison with alternative theories is made.
2014-12
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/60970/1/MPRA_paper_60970.pdf
Zheleznyak, Anatoliy (2014): Новая теория рынка и капитализма. В 3-х частях. Часть 3. Капитализм.
ru
oai:mpra.ub.uni-muenchen.de:66290
2019-09-30T23:11:18Z
7374617475733D756E707562
7375626A656374733D44:4434:443437
7375626A656374733D44:4435:443530
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/66290/
Competitive Equilibrium in the Random Assignment Problem
Le, Phuong
D47 - Market Design
D50 - General
This paper studies the problem of random assignment with fractional endowments. In the random assignment problem, a number of objects has to be assigned to a number of agents. Though the objects are indivisible, an assignment can be probabilistic: it can give an agent some probability of getting an object. Fractional endowments complicate the matter because the assignment has to make an agent weakly better off than his endowment. I first formulate an exchange economy that resembles the random assignment problem and prove the existence of competitive equilibrium in this economy. I then propose a pseudo-market mechanism for the random assignment problem that is based on the competitive equilibrium. This mechanism is individually rational, Pareto Optimal and justified envy-free but not incentive compatible.
2013-08-01
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/66290/1/MPRA_paper_66290.pdf
Le, Phuong (2013): Competitive Equilibrium in the Random Assignment Problem.
en
oai:mpra.ub.uni-muenchen.de:66624
2019-09-29T04:40:56Z
7374617475733D756E707562
7375626A656374733D44:4434:443437
7375626A656374733D44:4435:443530
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/66624/
Competitive Equilibrium in the Random Assignment Problem
Le, Phuong
D47 - Market Design
D50 - General
This paper studies the problem of random assignment with fractional endowments. Fractional endowments complicate matters because the assignment has to make an agent weakly better off than his endowment. I first formulate an exchange economy that resembles the random assignment problem and prove the existence of competitive equilibrium in this economy. I then propose a pseudo-market mechanism for the random assignment problem that is based on the competitive equilibrium. This mechanism is individually rational, Pareto Optimal and justified envy-free but not incentive compatible.
2013-08-01
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/66624/1/MPRA_paper_66624.pdf
Le, Phuong (2013): Competitive Equilibrium in the Random Assignment Problem.
en
oai:mpra.ub.uni-muenchen.de:68195
2019-10-10T11:38:06Z
7374617475733D707562
7375626A656374733D44:4435:443530
7375626A656374733D46:4631:463132
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/68195/
Factor Price Differences in a General Equilibrium Model of Trade and Imperfect Competition
Koska, Onur A.
Staehler, Frank
D50 - General
F12 - Models of Trade with Imperfect Competition and Scale Economies ; Fragmentation
Except for the famous Dornbusch-Fischer-Samuelson (DFS) models, most general
equilibrium models of trade rely on factor price equalization. The DFS models
demonstrate the gains from trade without factor price equalization under perfect
competition. This paper employs a general equilibrium model of oligopolistic
competition which implies distortions both at the intensive and extensive
margin. If factor prices do not equalize, imperfect competition will not reverse
the specialization pattern. However,
mutual gains from trade are not guaranteed, but one country may be worse off by
trade.
2015-02-11
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/68195/1/MPRA_paper_68195.pdf
Koska, Onur A. and Staehler, Frank (2015): Factor Price Differences in a General Equilibrium Model of Trade and Imperfect Competition. Published in: Research in Economics , Vol. 69, No. 2 (24 February 2015): pp. 248-259.
en
oai:mpra.ub.uni-muenchen.de:68556
2019-09-27T02:52:17Z
7374617475733D756E707562
7375626A656374733D44:4434
7375626A656374733D44:4434:443430
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7375626A656374733D47:4732
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https://mpra.ub.uni-muenchen.de/68556/
An empirical analysis of competition in the Indian Banking Sector in dynamic panel framework
Sinha, Pankaj
Sharma, Sakshi
Ghosh, Sayan
D4 - Market Structure, Pricing, and Design
D40 - General
D41 - Perfect Competition
D42 - Monopoly
D5 - General Equilibrium and Disequilibrium
D50 - General
G2 - Financial Institutions and Services
G21 - Banks ; Depository Institutions ; Micro Finance Institutions ; Mortgages
Competition has been regarded as a positive phenomenon for banks; it is perceived that competition makes banks more efficient, stimulates financial innovation and open up new markets For empirical assessment of the nature of competitive conditions amongst scheduled Indian commercial banks over a period of 15 years, we use the ‘Panzar-Rosser educed form revenue model’ to compute the so-called H statistic by estimating the factor price elasticities. In this study alternative estimation techniques have been used for comparing the dynamic H-statistic with static H-statistic. The static H-statistic was found to have a downward bias. However, dynamic as well as static H-statistic, both pointed to the presence of monopolistic competition. The hypotheses of perfect collusion as well as of perfect competition can be rejected using dynamic as well as fixed panel-econometric model estimations using micro data of banks’ balance sheets and profit & loss accounts for the years 2000-2014. The division of the entire period into two sub-samples, i.e. before and after 2007 revealed a decrease in competition levels across the two periods. Although, empirical analysis supported the assertion that the nature of competition among the Indian Banks is monopolistic.But it showed a decrease in the level of competitionmay be due to consolidation exercises of top few large banks with smaller banks and also because of the shift from traditional financial business to off-balance sheet activities, which might have lead to the convergence of competitive levels in the second sub-sample period, i.e. after 2007.The second sub-period also corresponds to the global financial crisis of 2008, a possible reason for the lower H-statistic values. The low persistence of profit values (in the sub-periods) should be associated with higher competition, It is also found that the values of competitive conduct (H-statistic), does not coincide with the classical concentration approach (CR5, CR10), for the Indian Banking Industry. The unit cost of funds, capital, and labour were found to be positive and statistically significant. The unit cost of funds was the highest contributor to the overall H statistic. The control variables, such as size and risk were found to be positively affecting the revenue. The findings arrived in this study; highlight the possible links between Indian banking sector competitiveness, profitability, intermediation and regulatory scenario.
2015-11-05
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/68556/1/MPRA_paper_68556.pdf
Sinha, Pankaj and Sharma, Sakshi and Ghosh, Sayan (2015): An empirical analysis of competition in the Indian Banking Sector in dynamic panel framework.
en
oai:mpra.ub.uni-muenchen.de:69081
2019-10-19T16:45:06Z
7374617475733D756E707562
7375626A656374733D44:4435:443530
7375626A656374733D44:4436
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7375626A656374733D44:4436:443632
7375626A656374733D44:4438:443832
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/69081/
A comment on ``Pareto improving taxes''
Leventides, John
Michelacakis, Nickolas
D50 - General
D6 - Welfare Economics
D60 - General
D62 - Externalities
D82 - Asymmetric and Private Information ; Mechanism Design
In an article appeared in the Journal of Mathematical Economics,
J. Geanakoplos and H. Polemarchakis,
[Geanakoplos J. and Polemarchakis H.M.: "Pareto improving taxes",
Journal of Mathematical Economics 44 (2008), 682-696],
prove on page 685 the following theorem:
"Theorem. For almost all economies with separable externalities and
L>I, every competitive equilibrium is constrained Pareto suboptimal, that is, for
each competitive equilibrium, there exists an anonymous tax package t and a
competitive t-equilibrium allocation which Pareto dominates it."
It is the purpose of this comment to show that restrictions must be applied on the
limiting cases for the theorem to hold. Proposition 1.3, below, gives a counter-positive
result and the ensuing Corollary shows that the Theorem in [Geanakoplos & Polemarchakis
2008][p. 685]
does not hold for I=2 and subsequently the example given in
Section 6, page 693, of Geanakoplos & Polemarchakis (2008)} appears to be
incorrect.
2016-01-29
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/69081/1/MPRA_paper_69081.pdf
Leventides, John and Michelacakis, Nickolas (2016): A comment on ``Pareto improving taxes''.
en
oai:mpra.ub.uni-muenchen.de:69233
2019-10-15T04:41:24Z
7374617475733D756E707562
7375626A656374733D42:4232:423231
7375626A656374733D42:4232:423232
7375626A656374733D44:4435:443530
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/69233/
Clower's about-face regarding the 'Keynesian Revolution'
Plassard, Romain
B21 - Microeconomics
B22 - Macroeconomics
D50 - General
Robert W. Clower’s article “The Keynesian Counter-Revolution: A Theoretical Appraisal” (1965) deeply influenced the course of Keynesian macroeconomics by contributing to the transition from IS/LM macroeconomics to fix-price theories. Despite this influence, no scholar proposed to explain its origins, with the notable exception of Roger E. Backhouse and Mauro Boianovsky (2013). They explained that the 1965 piece was the result of an independent research program rooted in the works of Clower during the 1950s. My paper aims to offer an alternative explanation. It is synthesized in the metaphor of an about-face to stress that a theoretical break is at the origin of this contribution. This break, initiated in the early 1960s, is characterized by a double change in perspective (individual equilibrium vs. individual disequilibrium, and compatibility vs. incompatibility between Keynesian and Walrasian theories). The intellectual context, particularly Don Patinkin (1956; 1958), will be invoked to trace the roots of this about-face. Consequently, rather than independency and linearity, I argue that dependency and non-linearity are the two salient features of Clower’s intellectual path.
2015-09
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/69233/1/MPRA_paper_69233.pdf
Plassard, Romain (2015): Clower's about-face regarding the 'Keynesian Revolution'.
en
oai:mpra.ub.uni-muenchen.de:69713
2019-09-26T15:28:57Z
7374617475733D696E7072657373
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74797065733D7061706572
https://mpra.ub.uni-muenchen.de/69713/
Sustainable Intrapreneurship - The GSI Concept and Strategy - Unfolding Competitive Advantage via Fair Entrepreneurship
Anton, Roman
A1 - General Economics
D0 - General
D00 - General
D01 - Microeconomic Behavior: Underlying Principles
D02 - Institutions: Design, Formation, Operations, and Impact
D20 - General
D21 - Firm Behavior: Theory
D22 - Firm Behavior: Empirical Analysis
D23 - Organizational Behavior ; Transaction Costs ; Property Rights
D50 - General
E00 - General
H0 - General
H00 - General
I0 - General
M0 - General
M00 - General
M10 - General
M12 - Personnel Management ; Executives; Executive Compensation
M2 - Business Economics
M5 - Personnel Economics
M50 - General
M51 - Firm Employment Decisions ; Promotions
M52 - Compensation and Compensation Methods and Their Effects
M54 - Labor Management
P1 - Capitalist Systems
P10 - General
Z1 - Cultural Economics ; Economic Sociology ; Economic Anthropology
Z10 - General
Entrepreneurship and intrapreneurship are among the most important prerequisites and concepts of modern economics and free market theory. Intrapreneurship is defined here in its broadest definition, as grades of entrepreneurship within a given system or entity, such as a company, organization, sector, cluster, national or even global economy. Hereby, intrapreneuring is more than only providing some opportunity to some employees. The wider definition rather unfolds intrapreneuring into a new universal concept of economics, efficiency, and effectiveness, which helps to solve some key dilemmas including the principal-agent-problem (PAP). This study reviews intrapreneuring in the public and private sector based on major empirical research. To optimally manage intrapreneuring, a set of sound goals and incentives, contextual, structural, behavioral, and legal-contractual measures are needed, as well as fair chances and a fair bargain for all. Free markets require internal opportunity and frameworks of fair competition. On this account, sustainable intrapreneurial modules could give rise to industry5.0. Intrapreneuring is proposed to reflect all grades of entrepreneurship that are itemized into its key dimensions independence, opportunity risk, and reward. Balanced dimensions of the right level assure graded sustainable intrapreneuring (GSI) for optimal output. Due to the universality of this concept, it applies for all work systems and sectors, public or private, micro- and macroeconomically, together with other 3D-concepts of economics. Social intrapreneurship, 3BL-GSI, or shared value strategies, could solve most societal problems if financed via QE in a GSI-conform digital full-reserve economy.
2014-10-31
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/69713/1/MPRA_paper_69713.pdf
Anton, Roman (2014): Sustainable Intrapreneurship - The GSI Concept and Strategy - Unfolding Competitive Advantage via Fair Entrepreneurship. Forthcoming in: Open Science , Vol. 2, No. 1 (1 March 2016): pp. 1-46.
en
oai:mpra.ub.uni-muenchen.de:72978
2019-10-17T22:24:08Z
7374617475733D756E707562
7375626A656374733D42:4234:423430
7375626A656374733D43:4330:433030
7375626A656374733D44:4435:443530
7375626A656374733D45:4533:453332
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/72978/
Azar, Determinismo e Indecidibilidad en la Teoría del Ciclo Económico.
Escañuela Romana, Ignacio
B40 - General
C00 - General
D50 - General
E32 - Business Fluctuations ; Cycles
The scientific literature that studies the economic cycles contains a historical debate between random and deterministic models. On the one hand, models with explanatory variables that follow a stochastic trajectory and produce, through transmission mechanisms, the observed cycles. Its rationale: the so-called Slutsky-Yule effect. In addition, models in which the system state at time t fixes, ceteris paribus condition applying, the state at time t + 1. The cycle would be the product of variables, making it possible to predict and enabling economic policies to combat recessions. The thesis of this paper is as follows. The application of the theorems of Chaitin of undecidability shows that it is not possible to conclude that debate. It is impossible to determine with absolute certainty whether the observed cycles follow a deterministic or stochastic model. To reach this result, I outline the fundamental theories of the business cycle, providing a classification and examples of mathematical models. I review the definition of randomness, and I consider the demonstration of Chaitin about the impossibility of deciding whether a data set is stochastic or not. A consequence, he says, of Gödel incompleteness theorems. I conclude that to consider a series of economic data, aggregated or not, as random or deterministic, depends on the theory. This applies to all cyclical phenomena of any kind. Specific mathematical models have observable consequences. But probabilism and determinism are only heuristic programs that guide the advancement of knowledge.
2016-08-10
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/72978/1/MPRA_paper_72978.pdf
Escañuela Romana, Ignacio (2016): Azar, Determinismo e Indecidibilidad en la Teoría del Ciclo Económico.
es
oai:mpra.ub.uni-muenchen.de:77758
2019-10-03T04:42:50Z
7374617475733D707562
7375626A656374733D43:4330:433031
7375626A656374733D44:4430
7375626A656374733D44:4432:443233
7375626A656374733D44:4435:443530
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/77758/
Choice of the Group Increases Intra-Cooperation
Babkina, Tatiana
Myagkov, Mikhail
Lukinova, Evgeniya
Peshkovskaya, Anastasiya
Menshikova, Olga
Berkman, Elliot T.
C01 - Econometrics
D0 - General
D23 - Organizational Behavior ; Transaction Costs ; Property Rights
D50 - General
This research investigates how variation in sociality, or the degree to which one feels belonging to a group, affects the propensity for participation in collective action. By bringing together rich models of social behavior from social psychology with decision modeling techniques from economics, these mechanisms can ultimately foster cooperation in human societies. While variation in the level of sociality surely exists across groups, little is known about whether and how it changes behavior in the context of various economic games. Specifically, we found some socialization task makes minimal group members behavior resemble that of an established group. Consistent with social identity theory, we discovered that inducing this type of minimal sociality among participants who were previously unfamiliar with each other increased social identity, and sustained cooperation rates in the newly formed groups to the point that they were comparable to those in the already established groups. Our results demonstrate that there are relatively simple ways for individuals in a group to agree about appropriate social behavior, delineate new shared norms and identities.
2016-07-18
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/77758/1/paper1.pdf
Babkina, Tatiana and Myagkov, Mikhail and Lukinova, Evgeniya and Peshkovskaya, Anastasiya and Menshikova, Olga and Berkman, Elliot T. (2016): Choice of the Group Increases Intra-Cooperation. Published in: CEUR-WS , Vol. 1627, No. urn:nbn:de:0074-1627-1 (25 July 2016): pp. 13-23.
en
oai:mpra.ub.uni-muenchen.de:78716
2019-10-04T22:46:14Z
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7375626A656374733D42:4234
7375626A656374733D44:4435
7375626A656374733D44:4435:443530
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/78716/
An Empirical Theory of Pure Exchange:Individual Demand and Equilibrium
Dominique, C-Rene
B4 - Economic Methodology
D5 - General Equilibrium and Disequilibrium
D50 - General
SUMMARY: Scientists question the ‘scientificity’ of Neoclassical Economic Theory because microeconomics depends on an un-observable utility function, while the modern version of the theory requires that macroeconomics be built on microfoundations. The first step in remedying such an incongruous analytics is to use ‘naïve’ set theory to show that the utility function is indeed a misleading appendage.
2017-05-21
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/78716/1/MPRA_paper_78694.pdf
Dominique, C-Rene (2017): An Empirical Theory of Pure Exchange:Individual Demand and Equilibrium.
en
oai:mpra.ub.uni-muenchen.de:78919
2019-09-26T11:23:17Z
7374617475733D756E707562
7375626A656374733D42:4232:423231
7375626A656374733D42:4232:423232
7375626A656374733D44:4435:443530
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/78919/
Clower's volte-face regarding the 'Keynesian Revolution'
Plassard, Romain
B21 - Microeconomics
B22 - Macroeconomics
D50 - General
Robert W. Clower’s article “The Keynesian Counter-Revolution: A Theoretical Appraisal” (1965) was central to the transformation of Keynesian macroeconomics since it contributed to the emergence of fixed-price models, in the 1970s. Despite this influence, no scholar has proposed to explain its origins. My paper aims to fill this gap. It is argued that Clower came to build his disequilibrium program of microfoundations after changing radically his views about the meaning and the nature of the ‘Keynesian Revolution’. During a first research phase (1949-1957), Clower considered that Keynesian macroeconomics was compatible with market clearing and with Walrasian microfoundations. But he eventually moved away from these equilibrium and synthesis perspectives. During a second research phase (1958-1962), he came to conclude that Keynesian macroeconomics had to be rooted in a disequilibrium framework and could not be based on Walrasian microfoundations. Hence the existence of a volte-face. This volte-face is explained by putting the invariants of Clower’s thought (i.e., his search for microfoundations adapted to Keynesian macroeconomics, and his concerns with unstable dynamics) in perspective with the contemporary developments in the disequilibrium macroeconomics of Don Patinkin, and in the non-tâtonnement economics of Frank Hahn and Takashi Negishi.
2017-11
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/78919/1/MPRA_paper_78919.pdf
Plassard, Romain (2017): Clower's volte-face regarding the 'Keynesian Revolution'.
en
oai:mpra.ub.uni-muenchen.de:80630
2019-09-27T14:32:43Z
7374617475733D756E707562
7375626A656374733D44:4435:443530
7375626A656374733D48:4835:483533
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7375626A656374733D4A:4A33:4A3338
7375626A656374733D4A:4A34:4A3436
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/80630/
Spatially Heterogeneous Effects of a Public Works Program
Merfeld, Joshua D
D50 - General
H53 - Government Expenditures and Welfare Programs
I38 - Government Policy ; Provision and Effects of Welfare Programs
J38 - Public Policy
J46 - Informal Labor Markets
Most research on labor market effects of the Mahatma Gandhi National Rural Employment Guarantee Scheme focuses on outcomes at the district level. This paper shows that such a focus masks substantial spatial heterogeneity: treated villages located near untreated areas see smaller increases in casual wages than treated villages located farther from untreated areas. I argue that worker mobility, rather than spatial differences in implementation or program leakages, drives this spatial heterogeneity. I also present evidence that the effects of the program on private-sector employment display similar intra-district heterogeneity. Finally, by exploiting the difference in wage changes over space, I show that a large portion of consumption increases are driven by wage increases, not program employment. Overall, these results suggest that a district-level focus underestimates the true effect of the program on wages and also support the argument that increasing rural wages is an effective poverty-fighting tool in developing countries.
2017
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/80630/1/MPRA_paper_80630.pdf
Merfeld, Joshua D (2017): Spatially Heterogeneous Effects of a Public Works Program.
en
oai:mpra.ub.uni-muenchen.de:83291
2019-09-27T15:47:15Z
7374617475733D707562
7375626A656374733D41:4131:413132
7375626A656374733D43:4330:433030
7375626A656374733D44:4435:443530
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/83291/
The Relativity Theory of General Economic Equilibrium
Leiashvily, Paata
A12 - Relation of Economics to Other Disciplines
C00 - General
D50 - General
Abstract Purpose. The purpose of this paper is to propose a new approach to the understanding of self-regulation mechanism of decentralized economic system. Design/methodology/approach. As a result of the dialectical analysis of fundamental economic categories of market economy it appears as the form of a complex, non-linear, functionally closed and causally open system of economic actions. These systems have a number of unique properties that are well studied by second-order cybernetics. This allows in the study of economic processes the unique research and development of this science to be involved in the interdisciplinary format. Findings. The self-organization of a market economy is carried out through the recursive processes. Recursive processes in the economic system, as well as in other complex nonlinear dynamical systems, generate "eigenvalues" ("fixed points"). These "eigenvalues" are the equilibrium prices to which through the recursive processes tend the actual market prices, thus providing a tendency of the system to the general equilibrium. However, due to constant influence on the system of random external factors, the general equilibrium is never achieved. Research limitations/implications. On the base of the created model the hidden relationships among the gross profit, gross saving, gross investment and gross consumption in debt, as well as the relationships among the other economic parameters are revealed. This is important for adequate understanding of economic reproduction, tendency to general equilibrium, genesis of economic cycles, etc. Practical implications. The proposed understanding of self-regulation mechanism of decentralized economic system will help to improve the applied economic models and to develop the effective economic policy. Originality/value. The original interpretation of economic self-regulation mechanism of market economy is given. The ―Symmetrical model‖ of general economic equilibrium, which shows how economic forces arise, where they are directed and how interact with each other, which provide the homeostasis of a decentralized economic system, is proposed. This model shows the attractor of a real disequilibrium economy.
2017-09
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/83291/1/MPRA_paper_83291.pdf
Leiashvily, Paata (2017): The Relativity Theory of General Economic Equilibrium. Published in: American Journal of Economics , Vol. 7(5), No. 5 (2017): pp. 216-229.
en
oai:mpra.ub.uni-muenchen.de:83306
2019-09-26T08:40:20Z
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7375626A656374733D41:4131:413133
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7375626A656374733D45:4533:453332
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https://mpra.ub.uni-muenchen.de/83306/
Экономическая деятельность: телеологический анализ
Леиашвили, Паата
A10 - General
A13 - Relation of Economics to Social Values
D50 - General
E30 - General
E32 - Business Fluctuations ; Cycles
В работе проф. П. Леиашвили исследуется сущность экономической деятельности и формы ее проявления в условиях
натуральной, рыночной и регулируемой экономики. Диалектический и телеологический анализ экономической деятельности позволяет выявить рефлективные отношения между такими фундаментальными экономическими категориями как производство и потребление, спрос и предложение, продукт и ресурс, затраты и полезность, прибыль и сбережения, экспансия и рецессия и т.д. Выявление взаимозависимос-
ти между указанными категориями позволяет глубже понять сущность экономических процессов, логику формирования экономических циклов, создать адекватную модель экономики.
Работа рассчитана на преподавателей и студентов экономического профиля, а также специалистов, интересующихся вопросами экономической теории.
In the work of prof. P. Leiashvily the essence of economic activity and the form of its displaying in conditions of natural, market and regulated economy is investigated. The dialectic and teleological analysis of economic activity allows to reveal the reflective relations between such fundamental economic categories as production and consumption, supply and demand, product and resource, cost and utility, profit and saving, expansion and recession, etc. Revealing the interdependence between specified categories allows to understand more deeply essence of
economic processes, logic of formation of business cycles, to create adequate model of economy.
Work is intended for lecturers and students of economic profile, also experts, interested in
problems of economic theory.
2011
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/83306/1/MPRA_paper_83306.PDF
Леиашвили, Паата (2011): Экономическая деятельность: телеологический анализ. Published in: Сиахле (2011)
ru
oai:mpra.ub.uni-muenchen.de:83515
2019-09-26T18:39:41Z
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7375626A656374733D41:4131:413132
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https://mpra.ub.uni-muenchen.de/83515/
Функциональная замкнутость рыночной экономики. Рановесие. Циклы. Воспроизводство.
Леиашвили, Паата
A10 - General
A12 - Relation of Economics to Other Disciplines
A13 - Relation of Economics to Social Values
D50 - General
E32 - Business Fluctuations ; Cycles
В монографии профессора П. Леиашвили, в результате диалектического анализа фундаментальных экономических категорий, рыночная экономика представлена в виде сложной, нелинейной, функционально замкнутой и кау-зально открытой системы. Такие системы обладают рядом уникальных свойств, которые хорошо изучены в теории хаоса, конструктивизме и кибер-нетике второго порядка. На основе междисциплинарного анализа рыночной экономики в дискурсе конструткивизма и кибернетики второго порядка, дается принципиально новая интерпретация общего экономического равнове-сия, предлагается оригинальная трактовка экономических циклов с позиций теории хаоса, а также, на основе полученных результатов, произведен анализ воспроизводственного процесса. Предлагается «Симметричная модель» эко-номического равновесия, согласно которой самоорганизация рыночной эконо-мики осуществляется благодаря рекурсивным процессам. На основе анализа простого экономического воспроизводства показаны недостатки существу-ющих методов расчета макроэкономических показателей Системы Нацио-нальных Счетов (ВВП, ВНД и др.). Дается методологическое обоснование их адекватного расчета.
As a result of dialectical analysis of economic processes the market economy is represented as a complex, non-linear, functionally closed, and causally open system. Such systems have a number of unique properties that have been well studied in chaos theory, constructivism and second-order cybernetics. In the present article, based on an interdisciplinary analysis of market economy in the discourse of constructivism and second-order cybernetics is given a fundamentally new approach to the analysis of general economic equilibrium and economic cycles. The article proposes a "symmetrical model" of economic equilibrium, which is the attractor of decentralized economy as a complex system of economic actions in which self-organization and autopoyezis are carried out thanks to recursive processes.
2015
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/83515/1/MPRA_paper_83515.pdf
Леиашвили, Паата (2015): Функциональная замкнутость рыночной экономики. Рановесие. Циклы. Воспроизводство. Published in: Сиахле (2015)
ru
oai:mpra.ub.uni-muenchen.de:84429
2019-09-28T19:13:38Z
7374617475733D756E707562
7375626A656374733D43:4336:433632
7375626A656374733D44:4435:443530
7375626A656374733D44:4435:443533
7375626A656374733D44:4436:443634
7375626A656374733D45:4532:453231
7375626A656374733D45:4534:453434
7375626A656374733D47:4731:473132
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/84429/
Financial bubbles and capital accumulation in altruistic economies
Bosi, Stefano
Ha-Huy, Thai
Le Van, Cuong
Pham, Cao-Tung
Pham, Ngoc-Sang
C62 - Existence and Stability Conditions of Equilibrium
D50 - General
D53 - Financial Markets
D64 - Altruism ; Philanthropy
E21 - Consumption ; Saving ; Wealth
E44 - Financial Markets and the Macroeconomy
G12 - Asset Pricing ; Trading Volume ; Bond Interest Rates
We consider an overlapping generations model à la Diamond (1965) with two additional ingredients: altruism and an asset (or land) bringing non-stationary positive dividends (or fruits). We study the global dynamics of capital stocks and asset values as well as the interplay between them. Asset price bubbles are also investigated.
2018-02-07
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/84429/1/MPRA_paper_84429.pdf
Bosi, Stefano and Ha-Huy, Thai and Le Van, Cuong and Pham, Cao-Tung and Pham, Ngoc-Sang (2018): Financial bubbles and capital accumulation in altruistic economies.
en
oai:mpra.ub.uni-muenchen.de:84563
2019-09-29T14:24:47Z
7374617475733D756E707562
7375626A656374733D41:4131:413130
7375626A656374733D41:4131:413133
7375626A656374733D42:4234:423430
7375626A656374733D44:4435:443530
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/84563/
The frame of reference for new economic thinking
Leiashvily, Paata
A10 - General
A13 - Relation of Economics to Social Values
B40 - General
D50 - General
After the crisis of 2018-2010, which led to the complete discrediting of neoclassical theory, the demand for new scientific ideas and an alternative vision of the most fundamental economic problems has sharply increased in economic science. At the same time, the discrediting of the neoclassical theory led to a critical attitude to the very idea of a general economic equilibrium, which is the central idea of neoclassical paradigm. The emphasis is increasingly shifting to the creation of disequilibrium models of economy. This book argues that this approach is incorrect. The wrong is not the very idea of equilibrium, but its neoclassical understanding and its concepts and equilibrium models, which are caused by false methodologies of neoclassicists.
Without a preliminary dialectic analysis of economic categories and the operationally closed model of commodity-money flows of a market economy created on its basis, it is impossible to find out feedbacks that ensure the self-regulation of the economic system. The “Symmetrical model” of general economic equilibrium, which shows how economic forces arise, where they are directed and how interact with each other, which provide the homeostasis of a decentralized economic system, is proposed. This model shows the attractor of a real disequilibrium economy. It is shown that the evolution of market economy, which due to the immanent logic of intrasystem processes generates extreme inequality in income distribution, leads to a disruption in the harmony and symmetry of counter flows of commodity and money, thus destroying the system of positive and negative feedbacks that provide the homeostasis of economic system.
This book is a collection of articles. Since each of them is a complete whole, the reader can get acquainted with the articles in any sequence, but after reading all of the articles, he will get a new non-standard understanding of functioning of a market economy. Although each article gives a complete analysis of a specific topic, nevertheless, all of them are arranged in such a sequence that they serve as different stages in the development of a single original concept, beginning with a methodology and ending with a mathematical model of a general economic equilibrium.
2018
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/84563/8/MPRA_paper_84563.pdf
Leiashvily, Paata (2018): The frame of reference for new economic thinking.
en
oai:mpra.ub.uni-muenchen.de:87459
2019-10-09T20:58:43Z
7374617475733D756E707562
7375626A656374733D44:4435
7375626A656374733D44:4435:443530
7375626A656374733D4A:4A33:4A3331
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/87459/
Trade liberalization, Skilled Intermediate input and Wage Distribution
Mandal, Biswajit
Roy, Sangita
D5 - General Equilibrium and Disequilibrium
D50 - General
J31 - Wage Level and Structure ; Wage Differentials
This paper proposes a simple theoretical model of a small open economy comprising of four sectors including formal and informal ones. One sector produces skilled intermediate input for the importable production. Though other two sectors use labour and capital (land), labour is segregated as skilled or unskilled. Following traditional specification we also assumed that the skilled labours are employed in the formal sector and unskilled labours are employed in the informal sector. One of the distinguishing features of the present paper is the use of skilled intermediate input in import competing sector. So, in a sense import competing sector uses both skilled and unskilled labour. In such backdrop we tried to study the impact of trade liberalization on absolute and relative wage(s). It has been found that irrespective of factor intensity ranking both types of workers lose owing to tariff cut whereas under reasonable condition wage disparity between skilled and unskilled workers is reduced. These results seem to be quite sensible though the structure is slightly different from the conventional set up.
2017
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/87459/1/MPRA_paper_87459.pdf
Mandal, Biswajit and Roy, Sangita (2017): Trade liberalization, Skilled Intermediate input and Wage Distribution.
en
oai:mpra.ub.uni-muenchen.de:87461
2019-10-03T15:03:43Z
7374617475733D756E707562
7375626A656374733D44:4435:443530
7375626A656374733D44:4437:443733
7375626A656374733D45:4532:453236
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/87461/
Inflow of Educational Capital, Intermediation and Informal Sector
Mandal, Biswajit
Roy, Sangita
D50 - General
D73 - Bureaucracy ; Administrative Processes in Public Organizations ; Corruption
E26 - Informal Economy ; Underground Economy
Informal sector comprising of unrecorded, unregistered activities in developing economies of the world is a common feature at present scenario. Existence of such sectors in an economy clearly reflects the weakness of government to provide employment opportunities for all. Such informal activities are again facilitated through the extortionists who are bribed by the informal producers. Under such an economic structure the paper investigates into the effect of inflow of educational capital on endogenously determined factor prices and output of formal and informal sectors of an economy.Though there is no change in the factor earnings, an inflow of educational capital gives a boost to the output of skilled sector irrespective of any factor intensity assumption. Output of formal sector also expands depending on the factor intensity assumption but quite interestingly no change is seen in the output of informal sector. Inflow of educational capital leads to dampening of intermediation activities in an economy which is a positive result and this can help the policy makers to choose the right path of development.
2018
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/87461/1/MPRA_paper_87461.pdf
Mandal, Biswajit and Roy, Sangita (2018): Inflow of Educational Capital, Intermediation and Informal Sector.
en
oai:mpra.ub.uni-muenchen.de:88364
2019-09-29T08:05:42Z
7374617475733D756E707562
7375626A656374733D41:4131:413130
7375626A656374733D43:4330:433030
7375626A656374733D44:4435:443530
7375626A656374733D45:4530:453030
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/88364/
Рождение макроэкономического порядка из микроэкономического хаоса
Leiashvily, Paata
A10 - General
C00 - General
D50 - General
E00 - General
В данной статье рассмотрена проблема самоорганизации экономических процессов в условиях совершенной конкуренции, основанной на взаимодействии индивидуальных и общественных экономических ценностей и рыночных цен. На основе диалектического анализа показано глубокое внутреннее единство проиозводства и потребления, спроса и предложения, полезности и затрат и др. категорий, которые обуславливают функциональную замкнутость и целостность экономической системы, как необходимое условие для понимания процесса формирования макроэкономического порядка из микроэкономического хаоса. На методологической основе диалектики дается новое понимание механизма саморегулирования рыночных процессов и экономической оптимизации. Предлагаемое теоретическое объяснение экономических процессов позволит создать более адекватные прикладные экономические модели и выработать эффективную экономическую политику.
In this article, the problem of self-organization of economic processes in conditions of perfect competition, based on the interaction of individual and public economic values and market prices, is considered. On the basis of dialectical analysis, the deep internal unity of production and consumption, supply and demand, utility and costs, and other categories that determine the functional closeness and integrity of economic system as a necessary condition for to understand the formation process of a macroeconomic order from microeconomic chaos is shown. A new understanding of market processes' self-regulation mechanism and economic optimization on the methodological basis of dialectics is given. The proposed theoretical explanation of economic processes makes it possible to create more adequate applied economic models and develop an effective economic policy.
2018-07-07
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/88364/1/MPRA_paper_88364.pdf
Leiashvily, Paata (2018): Рождение макроэкономического порядка из микроэкономического хаоса.
ru
oai:mpra.ub.uni-muenchen.de:92387
2019-09-30T20:06:12Z
7374617475733D756E707562
7375626A656374733D44:4435:443530
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/92387/
Teoría del valor en Valenzuela Feijóo: Una representación walrasiana de Marx
Goicoechea, Julio
D50 - General
This paper examines the conceptual framework upon which José Valenzuela Feijóo unfolds a theory of value. The elementary form of value gives way to pairs of commodities which in spite of being ordinary, each is to function as money. The general economic equilibrium becomes a means to replace the total or expanded value form. The unit of account, after being reduced to a numeraire, is eliminated. Previously, in an isolated approach to Bortkiewicz, values and prices are to become, each, a self-contained system. The non-dogmatic version of Marx which he claims to provide is shown to be rooted in Walrasian precepts. To expose these precepts, he makes use of Marxian terminology. In an apparent antagonism with Walras, he disqualifies him harshly. The considerable resort to algebraic expressions by Valenzuela Feijóo is kept at a strict minimum.
2019-01-07
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/92387/1/MPRA_paper_92387.pdf
Goicoechea, Julio (2019): Teoría del valor en Valenzuela Feijóo: Una representación walrasiana de Marx.
es
oai:mpra.ub.uni-muenchen.de:97841
2020-01-02T10:49:37Z
7374617475733D756E707562
7375626A656374733D44:4435:443530
7375626A656374733D48:4834:483430
7375626A656374733D52:5231:523131
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/97841/
Using a Local Public Good to Attract Representative Creative Class Members: The Inefficient Equilibrium Case
Batabyal, Amitrajeet
Yoo, Seung Jick
D50 - General
H40 - General
R11 - Regional Economic Activity: Growth, Development, Environmental Issues, and Changes
Batabyal and Beladi (2019) have recently analyzed a model of competition between two cities that use a local public good (LPG) to attract members of the creative class. The creative class consists of artists and engineers and they study the behavior of a representative artist and an engineer. In this note, we explore three implications of the use of this “representative artist and engineer” modeling strategy. First, we show that the use of such a strategy can lead one to study an inefficient equilibrium in the aggregate economy. Second, we point out that in this inefficient equilibrium, the beliefs of the representative artist and the engineer are inconsistent. Finally, we contend that if we depart from the “representative artist and engineer” construct and focus instead on the entire creative class population which we model as a continuum, then the inefficient equilibrium mentioned above can be turned into an efficient equilibrium.
2019-12-03
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/97841/1/MPRA_paper_97841.pdf
Batabyal, Amitrajeet and Yoo, Seung Jick (2019): Using a Local Public Good to Attract Representative Creative Class Members: The Inefficient Equilibrium Case.
en
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