Economics, Econometrics and Finance › General Economics, Econometrics and Finance

Economic Theory and Policy

Works Count: 185690

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This cluster of papers explores the causes and macroeconomic implications of various trends, including income distribution, financial crises, aggregate demand, economic growth, monetary policy, inequality, debt, industrialization, balance of payments, and structural change. The papers analyze long-period trends and their impact on different economies, providing insights into the complex interplay of these factors.

Keywords

Income Distribution; Financial Crisis; Aggregate Demand; Economic Growth; Monetary Policy; Inequality; Debt; Industrialization; Balance of Payments; Structural Change

Capitalism and Underdevelopment in Latin America

1973-02-01

Nagesh Ram , André Gunder Frank

The economic development of Latin America and its principal problems

1950-04-27

Raúl Prebisch

The cultural biography of things: commoditization as process

1986-04-30

Igor Kopytoff

For the economist, commodities simply are. That is, certain things and rights to things are produced, exist, and can be seen to circulate through the economic system as they are … For the economist, commodities simply are. That is, certain things and rights to things are produced, exist, and can be seen to circulate through the economic system as they are being exchanged for other things, usually in exchange for money. This view, of course, frames the commonsensical definition of a commodity: an item with use value that also has exchange value. I shall, for the moment, accept this definition, which should suffice for raising certain preliminary issues, and I shall expand on it as the argument warrants.

Production, growth and business cycles

1988-03-01

Robert G. King , Charles I. Plosser , Sérgio Rebelo

Small is beautiful: economics as if people mattered

2000-10-01

E. F. Schumacher

The classic of common-sense economics. Enormously broad in scope, pithily weaving together threads from Galbraith and Gandhi, capitalism and Buddhism, science and psychology.-- The New Republic The classic of common-sense economics. Enormously broad in scope, pithily weaving together threads from Galbraith and Gandhi, capitalism and Buddhism, science and psychology.-- The New Republic

The entrepreneurial state: debunking public vs. private sector myths

2014-01-21

Mariana Mazzucato

Introduction: Thinking Big Again 1. From Crisis Ideology to the Division of Innovative Labour 2. Technology, Innovation and Growth 3. Risk-Taking State: From 'De-risking' to 'Bring It On!' 4. The … Introduction: Thinking Big Again 1. From Crisis Ideology to the Division of Innovative Labour 2. Technology, Innovation and Growth 3. Risk-Taking State: From 'De-risking' to 'Bring It On!' 4. The US Entrepreneurial State 5. The State behind the iPhone 6. Pushing vs. Nudging the Green Industrial Revolution 7. Wind and Solar Power: Government Success Stories and Technology in Crisis 8. Risks and Rewards: From Rotten Apples to Symbiotic Ecosystems 9. Socialization of Risk and Privatization of Rewards: Can the Entrepreneurial State Eat Its Cake Too? 10. Conclusion

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Monitoring the world economy, 1820-1992

1996-01-01

Angus Maddison

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Cost and Production Functions

1981-01-01

Ronald W. Shephard

A theory of economic development.

1961-09-01

Gustav Ranis , Fei Jc

An attempt is made to make a contribution toward the theory of growth by analyzing the transition process through which an underdeveloped economy hopes to move from a condition of … An attempt is made to make a contribution toward the theory of growth by analyzing the transition process through which an underdeveloped economy hopes to move from a condition of stagnation to one of self sustaining growth. Already accepted ideas are liberally drawn upon before proceeding to weave them into a general explanatory model of economic growth. The analysis begins with an economys first departure from quasistagnation or the initiation of the off Rostow defines this as a period of 2 or 3 decades during which the economy transforms itself in such a way that economic growth becomes subsequently more or less automatic. Its characteristics are a reduction of the rural proportion of the population a doubling of savings rates and the first marked and continuous flowering of industry stimulated by the availability of surplus labor. Arthur Lewis investigates the expansion of the capitalistic or industrial sector as it is nourished by supplies of cheap labor from the subsistence or agricultural sector. Lewis failed to present a satisfactory analysis of the subsistence or agricultural sector. Finally the economy must be able to solve its Malthusian problem if the process of development along a growth path is to prove successful. The contribution of this discussion is to construct a theory of economic growth of which the identified ideas constitute component parts. The 5 sections present the basic structure of the neglected agricultural sector generalize the previously static analysis by admitting the possibility of a change of productivity in the agricultural sector introduce changes in industrial productivity and the concept of a balanced growth criterion by means of which the termination of the take off process is formally defined present a prescise mathematical formulation of the theory which enables the making of certain quantitative conditional predictions as a 1st test of its empirical relevancy and integrate population growth as well as some other real world complexities into the model and investigate the notion of the critical minimum effort in relation to the length of the take off process.

The Economic Institutions of Capitalism

1986-09-01

Paolo Leon

The 2008 crash has left all the established economic doctrines - equilibrium models, real business cycles, disequilibria models - in disarray. Part of the problem is due to Smith’s veil … The 2008 crash has left all the established economic doctrines - equilibrium models, real business cycles, disequilibria models - in disarray. Part of the problem is due to Smith’s veil of ignorance: individuals unknowingly pursue society’s interest and, as a result, have no clue as to the macroeconomic effects of their actions: witness the Keynes and Leontief multipliers, the concept of value added, fiat money, Engel’s law and technical progress, to name but a few of the macrofoundations of microeconomics. A good viewpoint to take bearings anew lies in comparing the post-Great Depression institutions with those emerging from Thatcher and Reagan’s economic policies: deregulation, exogenous vs. endoge- nous money, shadow banking vs. Volcker’s Rule. Very simply, the banks, whose lending determined deposits after Roosevelt, and were a public service became private enterprises whose deposits determine lending. These underlay the great moderation preceding 2006, and the subsequent crash.

Investment, Capacity Utilization and the Real Business Cycle

1986-01-01

Jeremy Greenwood , Zvi Hercowitz

The present paper adopts the Keynesian view that direct shocks to investment are important for business fluctuations, but incorporates them in a neo-classical framework where the rate of capital ut … The present paper adopts the Keynesian view that direct shocks to investment are important for business fluctuations, but incorporates them in a neo-classical framework where the rate of capital ut ...

The Rise of the Western World: A New Economic History.

1977-11-01

Michael S. Kimmel , Walter L. Goldfrank , Douglass C. North +1 more

A radically new interpretation, offering a unified explanation for the growth of Western Europe between 900 A. D. and 1700, provides a general theoretical framework for institutional change geared to … A radically new interpretation, offering a unified explanation for the growth of Western Europe between 900 A. D. and 1700, provides a general theoretical framework for institutional change geared to the general reader. North and Thomas seek to explain the rise of the Western world by illuminating the causal importance of an efficient economic organization that guarantees a wide latitude of property rights and both incentives and protection for economic growth. Although they pay homage to both Marxian and neoliberal theory, they take a theoretical middle ground that privileges the sociopolitical backdrop of economic affairs (as opposed to solely private or class-based activity) and in doing so identifies the roots of modernization as far back as the 10th Century. To justify the novelty and originality of this approach, they write that most analysts have misidentified the symptoms of modern economic growth (technological change, human capital, economies of scale) as the causes. In doing so, previous scholars have failed to answer the question if all that is required for economic growth is investment and innovation, why have some societies missed this desirable outcome? (2). Their answer is that some societies (England and the Netherlands) were better than others (France and Spain) at providing an efficient economic organization that could guarantee conditions favorable to per capita economic growth among a rapidly growing population.

Long-Term Contracts, Rational Expectations, and the Optimal Money Supply Rule

1977-02-01

Stanley Fischer

The paper is concerned with the role of monetary policy and argues that activist monetary policy can affect the behavior of real output, rational expectations notwithstanding. A rational expectations model … The paper is concerned with the role of monetary policy and argues that activist monetary policy can affect the behavior of real output, rational expectations notwithstanding. A rational expectations model with overlapping labor contracts is constructed, with each labor contract being made for two periods. These contracts inject an element of short-run wage stickiness into the model. Because the money stock is changed by the monetary authority more frequently than labor contracts are renegotiated, and, given the assumed form of the labor contracts, monetary policy has the ability to affect the short-run behavior of output, though it has no effects on long-run output behavior.

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Monetary Theory and Policy

1999-10-01

Timothy S. Fuerst , Carl E. Walsh

Part 1 Empirical evidence on money and output: introduction some basic correlations estimating the effect of money on output summary. Part 2 Money in a general equilibrium framework: introduction the … Part 1 Empirical evidence on money and output: introduction some basic correlations estimating the effect of money on output summary. Part 2 Money in a general equilibrium framework: introduction the Tobin effect money in the utility function summary appendix - the MIU approximation problems. Part 3 Money and transactions: introduction shopping-time models cash-in-advance models other approaches summary appendix - the CIA approximation problems. Part 4 Money and public finance: introduction bugdet accounting equilibrium seigniorage optimal taxation and seigniorage Friedman's rule revisited nonindexed tax systems problems. Part 5 Money and output in the short run: introduction flexible prices sticky prices and wages a framework for monetary analysis inflation persistence summary appendix problems. Part 6 Money and the open economy: introduction the Obstfeld-Rogoff two-country model policy coordination the small open economy summary appendix problems. Part 7 The credit channel of monetary policy: introduction imperfect information in credit markets macroeconomic implications does credit matter? summary. Part 8 Discretionary policy and time inconsistency: introduction inflation under discretionary policy solutions to the inflation bias is the inflation bias important? do central banking institutions matter? lessons and conclusions problems. Part 9 Monetary-policy operating procedures: introduction from instruments to goals the instrument-choice problem operating procedures and policy measures problems. Part 10 Interest rates and monetary policy: introduction interest-rate rule and the price level interest rate policies in general equilibrium models the term structure of interest rates a model for policy analysis summary problems.

A Note on Measurement of Utility

1937-02-01

Paul A. Samuelson

Journal Article A Note on Measurement of Utility Get access Paul A. Samuelson Paul A. Samuelson Cambridge, Mass. Search for other works by this author on: Oxford Academic Google Scholar … Journal Article A Note on Measurement of Utility Get access Paul A. Samuelson Paul A. Samuelson Cambridge, Mass. Search for other works by this author on: Oxford Academic Google Scholar The Review of Economic Studies, Volume 4, Issue 2, February 1937, Pages 155–161, https://doi.org/10.2307/2967612 Published: 01 February 1937

Neoliberalism, higher education and the knowledge economy: from the free market to knowledge capitalism

2005-01-01

Mark Olssen , Michael A. Peters

The ascendancy of neoliberalism and the associated discourses of 'new public management', during the 1980s and 1990s has produced a fundamental shift in the way universities and other institutions of … The ascendancy of neoliberalism and the associated discourses of 'new public management', during the 1980s and 1990s has produced a fundamental shift in the way universities and other institutions of higher education have defined and justified their institutional existence. The traditional professional culture of open intellectual enquiry and debate has been replaced with a institutional stress on performativity, as evidenced by the emergence of an emphasis on measured outputs: on strategic planning, performance indicators, quality assurance measures and academic audits. This paper traces the links between neoliberalism and globalization on the one hand, and neoliberalism and the knowledge economy on the other. It maintains that in a global neoliberal environment, the role of higher education for the economy is seen by governments as having greater importance to the extent that higher education has become the new star ship in the policy fleet for governments around the world. Universities are seen as a key driver in the knowledge economy and as a consequence higher education institutions have been encouraged to develop links with industry and business in a series of new venture partnerships. The recognition of economic importance of higher education and the necessity for economic viability has seen initiatives to promote greater entrepreneurial skills as well as the development of new performative measures to enhance output and to establish and achieve targets. This paper attempts to document these trends at the level of both political philosophy and economic theory.

Manias, Panics, and Crashes: A History of Financial Crises

1979-04-01

Albert U. Romansco , Charles P. Kindleberger

I can feel it coming, S.E.C. or not, a whole new round of disastrous speculation, with all the familiar stages in order-blue-chip boom, then a fad for secondary issues, then … I can feel it coming, S.E.C. or not, a whole new round of disastrous speculation, with all the familiar stages in order-blue-chip boom, then a fad for secondary issues, then an over-the-counter play, then another garbage market in new issues, and finally the inevitable crash.I don't know when it will come, but I can feel it coming, and damn it, I don't know what to do about it.

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A Contribution to the Theory of Economic Growth

1956-02-01

Robert M. Solow

Journal Article A Contribution to the Theory of Economic Growth Get access Robert M. Solow Robert M. Solow Massachusetts Institute of Technology Search for other works by this author on: … Journal Article A Contribution to the Theory of Economic Growth Get access Robert M. Solow Robert M. Solow Massachusetts Institute of Technology Search for other works by this author on: Oxford Academic Google Scholar The Quarterly Journal of Economics, Volume 70, Issue 1, February 1956, Pages 65–94, https://doi.org/10.2307/1884513 Published: 01 February 1956

The wealth and poverty of nations: why some are so rich and some so poor

1998-06-01

David S. Landes

David Landes David Landes

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The General Theory of Employment

1937-02-01

John Maynard Keynes

I. Comments on the four discussions in the previous issue of points in the General Theory, 209. — II. Certain definite points on which the writer diverges from previous theories, … I. Comments on the four discussions in the previous issue of points in the General Theory, 209. — II. Certain definite points on which the writer diverges from previous theories, 212. — The theory of interest restated, 215. — Uncertainties and fluctuations of investment, 217. — III. Demand and Supply for output as a whole, 219. — The output of capital goods and of consumption, 221.

Changes in Relative Wages, 1963-1987: Supply and Demand Factors

1992-02-01

Lawrence F. Katz , Kevin Murphy

A simple supply and demand framework is used to analyze changes in the U. S. wage structure from 1963 to 1987. Rapid secular growth in the demand for more-educated workers, … A simple supply and demand framework is used to analyze changes in the U. S. wage structure from 1963 to 1987. Rapid secular growth in the demand for more-educated workers, “more-skilled” workers, and females appears to be the driving force behind observed changes in the wage structure. Measured changes in the allocation of labor between industries and occupations strongly favored college graduates and females throughout the period. Movements in the college wage premium over this period appear to be strongly related to fluctuations in the rate of growth of the supply of college graduates.

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The Visible Hand: The Managerial Revolution in American Business

1978-06-01

Elisha P. Douglass , Alfred D. Chandler

* Introduction: The Visible Hand * Modern Business Enterprise Defined * Some General Propositions * Part I. The Traditional Processses of Production and Distribution *1. The Traditional Enterprise in Commerce … * Introduction: The Visible Hand * Modern Business Enterprise Defined * Some General Propositions * Part I. The Traditional Processses of Production and Distribution *1. The Traditional Enterprise in Commerce * Institutional Specialization and Market Coordination * The General Merchant of the Colonial World * Specialization in Commerce * Specialization in Finance and Transportation * Managing the Specialized Enterprise in Commerce * Managing the Specialized Enterprise in Finance and Transportation * Technological Limits to Institutional Change in Commerce *2. The Traditional Enterprise in Production * Technological Limits to Institutional Change in Production * The Expansion of Prefactory Production, 1790--1840 * Managing Traditional Production * The Plantation--an Ancient Form of Large-Scale Production * The Integrated Textile Mill--a New Form of Large-Scale Production * The Springfield Armory--Another Prototype of the Modern Factory * Lifting Technological Constraints * Part II. The Revolution in Transportation and Communication *3. The Railroads: The First Modern Business Enterprises, 1850s--1860s * Innovation in Technology and Organization * The Impact of the Railroads on Construction and Finance * Structural Innovation * Accounting and Statistical Innovation * Organizational Innovation Evaluated *4. Railroad Cooperation and Competition, 1870s--1880s * New Patterns of Interfirm Relationships * Cooperation to Expand Through Traffic * Cooperation to Control Competition * The Great Cartels * The Managerial Role *5. System-Building, 1880s--1900s * Top Management Decision Making * Building the First Systems * System-Building in the 1880s * Reorganization and Rationalization in the 1880s * Structures for the New Systems * The Bureaucratization of Railroad Administration *6. Completing the Infrastructure * Other Transportation and Communication Enterprises * Transportation: Steamship Lines and Urban Traction Systems Communication: The Postal Service, Telegraph, and Telephone * The Organizational Response * Part III. The Revolution in Distribution and Production *7. Mass Distribution * The Basic Transformation * The Modern Commodity Dealer * The Wholesale Jobber * The Mass Retailer * The Department Store * The Mail-Order House * The Chain Store * The Economies of Speed *8. Mass Production * The Basic Transformation * Expansion of the Factory System * The Mechanical Industries * The Refining and Distilling Industries * The Metal-Making Industries * The Metal-Working Industries * The Beginnings of Scientific Management * The Economies of Speed * Part IV. The Integration of Mass Production with Mass Distribution *9. The Coming of the Modern Industrial Corporation * Reasons for Integration * Integration by Users of Continuous-Process Technology * Integration by Processors of Perishable Products * Intergration by Machinery Makers Requiring Specialized Marketing Services * The Followers *10. Integration by the Way of Merger * Combination and Consolidation * The Mergers of the 1880s * Mergers, 1890--1903 * The Success and Failure of Mergers *11. Integration Completed * An Overview: 1900--1917 * Growth by Vertical Integration--a Description * Food and Tobacco * Oil and Rubber * Chemicals, Paper, and Glass * The Metal Fabricators * The Machinery Makers * Primary Metals * Growth by Vertical Integration--an Analysis * The Importance of the Market * Integration and Concentration * The Rise of Multinational Enterprise * Integration and the Structure of the American Economy * Determinants of Size and Concentration * Part V. The Management and Growth of Modern Industrial Enterprise *12. Middle Management: Function and Structure * The Entrepreneurial Enterprise * American Tobacco: Managing Mass Production and Distribution of Packaged Products * Armour: Managing the Production and Distribution of Perishable Products * Singer and McCormick: Making and Marketing Machinery * The Beginnings of Middle Management in American Industry *13. Top Management: Function and Structure * The Managerial Enterprise * Standard Oil Trust * General Electric Company * United States Rubber Company * E.I. Du Pont de Nemours Powder Company * The Growing Supremacy of Managerial Enterprise *14. The Maturing of Modern Business Enterprise * Perfecting the Structure * The Professionalization of Management * Growth of Modern Business Enterprise Between the Wars * Modern Business Enterprise Since 1941 * The Dominance of Modern Business Enterprise * Conclusion: The Managerial Revolution in American Business * General Patterns of Institutional Growth * The Ascendancy of the Manager * The United States: Seed-Bed of Managerial Capitalism * Appendixes * Notes * Index

Informal Income Opportunities and Urban Employment in Ghana

1973-03-01

Keith Hart

This article originated in the study of one Northern Ghanaian group, the Frafras, as migrants to the urban areas of Southern Ghana. It describes the economic activities of the low-income … This article originated in the study of one Northern Ghanaian group, the Frafras, as migrants to the urban areas of Southern Ghana. It describes the economic activities of the low-income section of the labour force in Accra, the urban sub-proletariat into which the unskilled and illiterate majority of Frafra migrants are drawn. Price inflation, inadequate wages, and an increasing surplus to the requirements of the urban labour market have led to a high degree of informality in the income-generating activities of the sub-proletariat. Consequently income and expenditure patterns are more complex than is normally allowed for in the economic analysis of poor countries. Government planning and the effective application of economic theory in this sphere has been impeded by the unthinking transfer of western categories to the economic and social structures of African cities. The question to be answered is this: Does the ‘reserve army of urban unemployed and underemployed’ really constitute a passive, exploited majority in cities like Accra, or do their informal economic activities possess some autonomous capacity for generating growth in the incomes of the urban (and rural) poor?

Stabilizing an Unstable Economy

1987-10-01

Nicholas Karamouzis , Hyman P. Minsky

Mr. long argued markets were crisis prone. His 'moment' has arrived. -The Wall Street Journal In his seminal work, presents his groundbreaking financial theory of investment, one that is startlingly … Mr. long argued markets were crisis prone. His 'moment' has arrived. -The Wall Street Journal In his seminal work, presents his groundbreaking financial theory of investment, one that is startlingly relevant today. He explains why the American economy has experienced periods of debilitating inflation, rising unemployment, and marked slowdowns-and why the economy is now undergoing a credit crisis that he foresaw. Stabilizing an Unstable Economy covers: The natural inclination of complex, capitalist economies toward instability Booms and busts as unavoidable results of high-risk lending practices Speculative finance and its effect on investment and asset prices Government's role in bolstering consumption during times of high unemployment The need to increase Federal Reserve oversight of banks Henry Kaufman, president, Henry Kaufman & Company, Inc., places Minsky's prescient ideas in the context of today's financial markets and institutions in a fascinating new preface. Two of Minsky's colleagues, Dimitri B. Papadimitriou, Ph.D. and president, The Levy Economics Institute of Bard College, and L. Randall Wray, Ph.D. and a senior scholar at the Institute, also weigh in on Minsky's present relevance in today's economic scene in a new introduction. A surge of interest in and respect for Hyman Minsky's ideas pervades Wall Street, as top economic thinkers and financial writers have started using the phrase Minsky moment to describe America's turbulent economy. There has never been a more appropriate time to read this classic of economic theory.

Commodities and Capabilities.

1986-09-01

Robert Sugden , Amartya Sen

Journal Article Commodities and Capabilities Get access Commodities and Capabilities. By AMARTYA SEN. (Amsterdam ) New York: North-Holland, 1985. Pp. 130. US$ 35.25, Dfl. 95.00 hardback.) Robert Sugden Robert Sugden … Journal Article Commodities and Capabilities Get access Commodities and Capabilities. By AMARTYA SEN. (Amsterdam ) New York: North-Holland, 1985. Pp. 130. US$ 35.25, Dfl. 95.00 hardback.) Robert Sugden Robert Sugden University of East Anglia Search for other works by this author on: Oxford Academic Google Scholar The Economic Journal, Volume 96, Issue 383, 1 September 1986, Pages 820–822, https://doi.org/10.2307/2232999 Published: 01 September 1986

The General Theory of Employment, Interest and Money.

1936-12-01

Joseph A. Schumpeter , John Maynard Keynes

The Rise and Decline of Nations.

1983-12-01

Wilfred Beckerman , Mancur Olson

Journal Article The Rise and Decline of Nations Get access The Rise and Decline of Nations. By Mancur Olson. (London: Yale University Press, 1982. Pp. xi + 273. £8.95.) W. … Journal Article The Rise and Decline of Nations Get access The Rise and Decline of Nations. By Mancur Olson. (London: Yale University Press, 1982. Pp. xi + 273. £8.95.) W. Beckerman W. Beckerman Balliol College, Oxford Search for other works by this author on: Oxford Academic Google Scholar The Economic Journal, Volume 93, Issue 372, 1 December 1983, Pages 916–919, https://doi.org/10.2307/2232759 Published: 01 December 1983

Capital in the Twenty-First Century

2014-12-31

Thomas Piketty

The main driver of inequality--returns on capital that exceed the rate of economic growth--is again threatening to generate extreme discontent and undermine democratic values. Thomas Piketty's findings in this ambitious, … The main driver of inequality--returns on capital that exceed the rate of economic growth--is again threatening to generate extreme discontent and undermine democratic values. Thomas Piketty's findings in this ambitious, original, rigorous work will transform debate and set the agenda for the next generation of thought about wealth and inequality.

The Debt-Deflation Theory of Great Depressions

1933-10-01

Irving Fisher

IN Booms and Depressions, I have developed, theoretically and statistically, what may be called a debt-deflation theory of great depressions. In the preface, I stated that the results seem largely … IN Booms and Depressions, I have developed, theoretically and statistically, what may be called a debt-deflation theory of great depressions. In the preface, I stated that the results seem largely new, I spoke thus cautiously because of my unfamiliarity with the vast literature on the subject. Since the book was published its special conclusions have been widely accepted and, so far as I know, no one has yet found them anticipated by previous writers, though several, including myself, have zealously sought to find such anticipations. Two of the best-read authorities in this field assure me that those conclusions are, in the words of one of them, both new and important. Partly to specify what some of these special conclusions are which are believed to be new and partly to fit them into the conclusions of other students in this field, I am offering this paper as embodying, in brief, my present on the whole subject of so-called cycle theory. My consists of 49 articles some of which are old and some new. I say because, for brevity, it is purposely expressed dogmatically and without proof. But it is not a creed in the sense that my faith in it does not rest on evidence and that I am not ready to modify it on presentation of new evidence. On the contrary, it is quite tentative. It may serve as a challenge to others and as raw material to help them work out a better product. Meanwhile the following is a list of my 49 tentative conclusions.

The General Theory of Employment, Interest and Money.

1936-01-01

A. W. F. , John Maynard Keynes

A Monetary History of the United States 1867-1960

1964-01-01

Roy Harrod , Milton Friedman , Anna Jacobson

The Rise and Decline of Nations: Economic Growth, Stagflation, and Social Rigidities

1982-01-01

William Diebold , Mancur Olson

Advanced macroeconomics

1996-06-01

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The Regulation of Labor

2004-11-01

Juan Carlos Botero , Simeon Djankov , Rafael La Porta +2 more

Journal Article The Regulation of Labor Get access Juan C. Botero, Juan C. Botero Yale University Search for other works by this author on: Oxford Academic Google Scholar Simeon Djankov, … Journal Article The Regulation of Labor Get access Juan C. Botero, Juan C. Botero Yale University Search for other works by this author on: Oxford Academic Google Scholar Simeon Djankov, Simeon Djankov The World Bank Search for other works by this author on: Oxford Academic Google Scholar Rafael La Porta, Rafael La Porta Dartmouth College and National Bureau of Economic Research Search for other works by this author on: Oxford Academic Google Scholar Florencio Lopez-de-Silanes, Florencio Lopez-de-Silanes Yale University and National Bureau of Economic Research Search for other works by this author on: Oxford Academic Google Scholar Andrei Shleifer Andrei Shleifer Harvard University and National Bureau of Economic Research Search for other works by this author on: Oxford Academic Google Scholar The Quarterly Journal of Economics, Volume 119, Issue 4, November 2004, Pages 1339–1382, https://doi.org/10.1162/0033553042476215 Published: 01 November 2004

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A Monetary History of the United States, 1867-1960

1964-07-01

Rendigs Fels , Milton Friedman , Anna J. Schwartz

Writing in the June 1965 issue of theEconomic Journal, Harry G. Johnson begins with a sentence seemingly calibrated to the scale of the book he set himself to review: long-awaited … Writing in the June 1965 issue of theEconomic Journal, Harry G. Johnson begins with a sentence seemingly calibrated to the scale of the book he set himself to review: long-awaited monetary history of the United States by Friedman and Schwartz is in every sense of the term a monumental scholarly achievement--monumental in its sheer bulk, monumental in the definitiveness of its treatment of innumerable issues, large and small . . . monumental, above all, in the theoretical and statistical effort and ingenuity that have been brought to bear on the solution of complex and subtle economic issues. Friedman and Schwartz marshaled massive historical data and sharp analytics to support the claim that monetary policy--steady control of the money supply--matters profoundly in the management of the nation's economy, especially in navigating serious economic fluctuations. In their influential chapter 7, The Great Contraction--which Princeton published in 1965 as a separate paperback--they address the central economic event of the century, the Depression. According to Hugh Rockoff, writing in January 1965: If Great Depressions could be prevented through timely actions by the monetary authority (or by a monetary rule), as Friedman and Schwartz had contended, then the case for market economies was measurably stronger. Milton Friedman won the Nobel Prize in Economics in 2000 for work related to A Monetary History as well as to his other Princeton University Press book, A Theory of the Consumption Function (1957).

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The Theory of Economic Development: An Inquiry into Profits, Capital, Credit, Interest, and the Business Cycle

1934-01-01

Joseph A. Schumpeter

Schumpeter first reviews basic economic concepts that describe recurring economic processes of a commercially organized state in which private property, division of labor, and free competition prevail. These constitute what … Schumpeter first reviews basic economic concepts that describe recurring economic processes of a commercially organized state in which private property, division of labor, and free competition prevail. These constitute what Schumpeter calls the of economic life, such as consumption, factors and means of production, labor, value, prices, cost, exchange, money as a circulating medium, and exchange value of money. The principal focus of book is advancing idea that change (economic development) is key to explaining features of a modern economy. Schumpeter emphasizes that his work deals with economic dynamics or economic development, not with theories of equilibrium or circular flow of a static economy, which have formed basis of traditional economics. Interest, profit, productive interest, and business fluctuations, capital, credit, and entrepreneurs can better be explained by reference to processes of development. A static economy would know no productive interest, which has its source in profits that arise from process of development (successful execution of new combinations). The principal changes in a dynamic economy are due to technical innovations in production process. Schumpeter elaborates on role of credit in economic development; credit expansion affects distribution of income and capital formation. Bank credit detaches productive resources from their place in to new productive combinations and innovations. Capitalism inherently depends upon economic progress, development, innovation, and expansive activity, which would be suppressed by inflexible monetary policy. The essence of development consists in introduction of innovations into system of production. This period of incorporation or adsorption is a period of readjustment, which is essence of depression. Both profits of booms and losses from depression are part of process of development. There is a distinction between processes of creating a new productive apparatus and process of merely operating it once it is created. Development is effected by entrepreneur, who guides diversion of factors of production into new combinations for better use; by recasting productive process, including introduction of new machinery, and producing products at less expense, entrepreneur creates a surplus, which he claims as profit. The entrepreneur requires capital, which is found in money market, and for which entrepreneur pays interest. The entrepreneur creates a model for others to follow, and appearance of numerous new entrepreneurs causes depressions as system struggles to achieve a new equilibrium. The entrepreneurial profit then vanishes in vortex of competition; stage is set for new combinations. Risk is not part of entrepreneurial function; risk falls on provider of capital. (TNM)

Varieties of Capitalism: The Institutional Foundations of Comparative Advantage

2003-07-01

Philip K. Porter , Peter A. Hall , David Soskice

What are the most important differences among national economies? Is globalization forcing nations to converge on an Anglo-American model? What explains national differences in social and economic policy? This pathbreaking … What are the most important differences among national economies? Is globalization forcing nations to converge on an Anglo-American model? What explains national differences in social and economic policy? This pathbreaking work outlines a new approach to these questions. It highlights the role of business in national economies and shows that there is more than one path to economic success.

Essay on the Principle of Population

2019-10-10

Thomas Robert Malthus

Malthus’s Essay on the Principle of Population remains one of the most influential works of political economy ever written. Most widely circulated in its initial 1798 version, this is the … Malthus’s Essay on the Principle of Population remains one of the most influential works of political economy ever written. Most widely circulated in its initial 1798 version, this is the first publication of his benchmark 1803 edition since 1989. Introduced by editor Shannon C. Stimson, this edition includes essays on the historical and political theoretical underpinnings of Malthus’s work by Niall O’Flaherty, Malthus’s influence on concepts of nature by Deborah Valenze, implications of his population model for political economy by Sir Anthony Wrigley, an assessment of Malthus’s theory in light of modern economic ideas by Kenneth Binmore, and a discussion of the Essay’s literary and cultural influence by Karen O’Brien. The result is an enlarged view of the political, social, and cultural impact of this profoundly influential work.

The Theory of Economic Development

2006-01-07

Joseph A. Schumpeter , Ursula Backhaus

Technical change and economic theory

1989-05-01

A Monetary History of the United States, 1867-1960

2017-10-02

Milton Friedman , Anna Schwartz

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Financialization and the World Economy

2005-08-26

Gerald Epstein

Preface Part I: Introduction and Distributional Implications Part II: Financialization and the US Economy Part III: Financialization and the International Monetary System Part IV: Policy Perspectives. Preface Part I: Introduction and Distributional Implications Part II: Financialization and the US Economy Part III: Financialization and the International Monetary System Part IV: Policy Perspectives.

The limits to cash‐plus provision in protracted crises

2025-06-24

Rachel Sabates‐Wheeler , Jeremy Lind , Carolina Holland‐Szyp | Development Policy Review

Abstract Motivation Cash‐plus programmes have succeeded in places where different provisions (e.g., health, education, nutrition) are able to complement each other while augmenting a regular cash transfer payment. The institutional … Abstract Motivation Cash‐plus programmes have succeeded in places where different provisions (e.g., health, education, nutrition) are able to complement each other while augmenting a regular cash transfer payment. The institutional capacity to deliver an integrated support package has marked the effective functioning of these programmes. However, in contexts of conflict and protracted crisis and the associated disruptions of infrastructure damage, insecurity, distrust, and violence, the necessary institutional scaffolding for a well‐functioning cash‐plus programme becomes unstable and may collapse altogether. Despite this, cash‐plus programmes continue to be implemented in these contexts. Purpose We assess whether cash‐plus programmes are designed and delivered to reduce vulnerability and promote livelihoods in protracted crises, and if their outcomes resonate with their objectives. Approach and Methods We develop a multidimensional indicator of protracted crisis, incorporating conflict, displacement, and climate change vulnerability, and map this against the strength of national social protection systems. We review 97 cash‐plus programmes in 16 countries, examining design features, objectives, and outcomes. Findings The review exposes the weakness in relying on the usual small‐lift aims of cash‐plus interventions (such as the provision of seeds or poultry, or basic training in business) in contexts where household‐level barriers to improving livelihoods are dwarfed by macro‐level structural, political, and social ruptures. The evidence demonstrates that most cash‐plus interventions are not designed or delivered in ways suitable for crises. Policy Implications Household‐level objectives will be stymied by institutional and political disruptions; therefore, programmes must also seek to help reshape the context in which people live. During active conflict (as compared to intermittent violence), cash‐plus may simply be impossible: it may be better to focus on providing for basic needs, such as through humanitarian aid.

Comment on “Understanding the Normalization of the Japanese Economy”

2025-06-24

Kazumasa Iwata | Asian Economic Policy Review

Comment on “Understanding the Normalization of the Japanese Economy”

2025-06-24

Toshihiro Hayashi | Asian Economic Policy Review

Brazilian agricultural products: is there persistence in domestic prices?

2025-06-24

Edson Zambon Monte , Maria Luiza Moura Patricio | Studies of Applied Economics

The main aim of this paper is to verify the degree of persistence of daily domestic prices of the following Brazilian agricultural products: rice, live cattle, arabica coffee, robusta coffee, … The main aim of this paper is to verify the degree of persistence of daily domestic prices of the following Brazilian agricultural products: rice, live cattle, arabica coffee, robusta coffee, corn, soybeans, and wheat. As methodology, the study used the fractional integration approach to test for long-memory behavior in the time series, more specifically, the Exact Local Whittle (ELW). The research also tested for structural breaks. The results revealed high degrees of persistence for all prices, even for estimates for subsamples. That is, the I(1) hypothesis (non-stationarity) cannot be rejected, showing a lack of mean reversion towards the long-run price level for all prices of agricultural products. Thus, in the case of exogenous shocks, actions need to be taken by economic agents, so that price series return to their original levels.

The Price of Wealth: Scarcity and Abundance in an Unequal World

2025-06-24

D. Allen Rutherford | Current Anthropology

The Economic War

2025-06-24

| Yale University Press eBooks

Monetary policy in open emergent economies with weak financial markets: the case of Mexico and its effect on the banking system

2025-06-24

Noemí Levy , Jorge Bustamante Torres | Edward Elgar Publishing eBooks

An analysis of the Brazilian Central Bank balance sheet and its main policy instruments

2025-06-24

Sylvio Antonio Kappes | Edward Elgar Publishing eBooks

Evolución del sistema de abasto popular en Ciudad de México: atributos y reconversiones de los mercados mexicanos

2025-06-24

Rodrigo Ramo Díaz , Bertha Lilia Salazar Martínez , Luis Arturo Vázquez Honorato | LATAM Revista Latinoamericana de Ciencias Sociales y Humanidades

Este artículo expone un recuento histórico sobre los antecedentes referentes a la evolución del sistema de abasto popular en la Ciudad de México, mostrando a través del análisis de contenido … Este artículo expone un recuento histórico sobre los antecedentes referentes a la evolución del sistema de abasto popular en la Ciudad de México, mostrando a través del análisis de contenido y de un procedimiento histórico-comparativo, las particularidades de los cambios a lo largo de la historia; caracterizando a las que podrían denominarse reconversiones de los mercados mexicanos, y cómo a pesar del devenir histórico y heterogeneidad de los casos, existen ciertos atributos que se mantienen hasta la actualidad. Asimismo, se puntualizó sobre la mercantilización de la ciudad, la expansión de la economía y el aumento de la riqueza como parte de los resultados de la imposición de una planificación estratégica que reconfiguran la estructura convencional y forma física de las urbes; dejando en evidencia cómo estos planteamientos genéricos de carácter sectorial actúan de forma totalitaria sobre las clases populares, teniendo efectos diferenciados de acuerdo a sus particularidades y trayectoria histórica y evolutiva.En este sentido, los autores bosquejar siete momento históricos enmarcados en una diversidad de escenarios dentro de los cuales se podrá comprender de una mejor manera el ambiente de desigualdad, exclusión, desplazamientos y violencia expuestas durante las disputas y transformaciones del espacio urbano.

ANÁLISE ECONÔMICA E POLÍTICA DO BRASIL (1930-1961) COM ÊNFASE NO PLANO SALTE E PLANO DE METAS

2025-06-23

Carlos Prado Ramos , Jhone Ferreira de Araujo , Vasconcelos Zuqui | Revista fisio&terapia.

What Determines Value in the First Chapter of Book One of <i>Capital</i> ? A Debate

2025-06-20

Kaveh Boveiri | Science & Society

Ordem Monetária e Financeira Internacional no Pós-crise de 2008

2025-06-20

Debora Gaspar | Carta Internacional

Este trabalho revisita a discussão sobre a ordem no Sistema Monetário e Financeiro Internacional (SMFI), analisando as estratégias adotadas pelos Estados Unidos e por países emergentes na gestão da Crise … Este trabalho revisita a discussão sobre a ordem no Sistema Monetário e Financeiro Internacional (SMFI), analisando as estratégias adotadas pelos Estados Unidos e por países emergentes na gestão da Crise Financeira Global. Por um lado, a ativação da rede de swaps cambiais pelo Fed indica a administração da crise pela potência hegemônica. Por outro, observa-se que as economias emergentes adotaram estratégias defensivas, com destaque para os controles de capitais. Pretende-se mostrar como algumas abordagens teóricas da Economia Política Internacional analisam os possíveis graus de acomodação entre estas estratégias de contenção dos efeitos da crise.

Economic Policy and Sustainability in a Monetary Economy

2025-06-19

Stéfano Figuera , Andrea Pacella | Routledge eBooks

Ensaios de Economia

2025-06-18

D Albuquerque , Bruno Iraquitan Miranda da Silva , Moacyr Tadeu Vicente Rodrigues +7 more | Even3 Publicações eBooks

Este livro reúne uma série de estudos especializados que exploram aspectos centrais da dinâmica econômica, dos mercados financeiros, das políticas públicas e da teoria do desenvolvimento, com ênfase no contexto … Este livro reúne uma série de estudos especializados que exploram aspectos centrais da dinâmica econômica, dos mercados financeiros, das políticas públicas e da teoria do desenvolvimento, com ênfase no contexto brasileiro e comparações internacionais. Por meio do uso de modelos econométricos avançados — como Markov-Switching, GARCH (Generalized Autoregressive Conditional Heteroscedasticity), ARIMA e Diferenças em Diferenças —, aliados a análises estatísticas e contextuais aprofundadas, os capítulos oferecem interpretações valiosas sobre fenômenos econômicos complexos. Entre as principais contribuições, destacam-se: A análise dos ciclos macroeconômicos e mudanças de regime no PIB de países do G10 e do Brasil, evidenciando a eficácia de modelos não-lineares na identificação de períodos de expansão e recessão. Os estudos mostram padrões distintos de recuperação pós-crise e maior vulnerabilidade econômica no Brasil, que apresenta mais mudanças de regime que outras nações. A investigação da volatilidade dos mercados financeiros e previsão de riscos, com foco em índices como o Ibovespa e o VIX ("índice do medo"). As análises demonstram a capacidade desses modelos de capturar choques significativos, como o ocorrido em março de 2020 com a pandemia da COVID-19, ressaltando sua relevância para decisões de investimento e monitoramento de riscos sistêmicos. A avaliação dos impactos de políticas públicas sobre o desenvolvimento regional e a sustentabilidade fiscal, com ênfase nos efeitos positivos dos programas de assistência social e transferência de renda no combate à pobreza e dinamização da economia local em municípios vulneráveis do Norte de Minas Gerais. Inclui-se também uma análise do Índice de Desenvolvimento Econômico e Tributário dos Municípios (IDTE), revelando correlação positiva com o PIB per capita, ainda que a relação direta entre IDTE e endividamento municipal seja limitada. A análise dos efeitos da Reforma da Previdência (EC nº 103/2019) sobre a sustentabilidade dos Regimes Próprios de Previdência Social (RPPS) municipais. Os resultados indicam significativa redução dos déficits atuariais, especialmente em municípios com maior maturidade previdenciária, embora persistam desafios relacionados à governança local e à implementação da reforma. A revisão crítica das teorias do desenvolvimento, com destaque para o embate entre a teoria da modernização e o estruturalismo latino-americano. Essa abordagem ressalta o papel estratégico do Estado e a importância de políticas públicas adaptadas ao contexto local para alcançar crescimento sustentável e equitativo, em contraponto às limitações do liberalismo clássico e ao ressurgimento do pensamento keynesiano. Os resultados apresentados reforçam a importância do uso de ferramentas analíticas robustas na formulação de políticas públicas eficazes e decisões estratégicas, ampliando a compreensão das dinâmicas macrofinanceiras e dos desafios socioeconômicos enfrentados tanto por economias em desenvolvimento quanto por países avançados.

Inflation and The Real Resource Solution

2025-06-18

Can Çinar | Routledge eBooks

Soluciones innovadoras ante los problemas de liquidez en los países en desarrollo: canjes de deuda por desarrollo y cláusulas de suspensión de deuda

2025-06-18

Maurizio Mulas , Regina Sancha | ICE Revista de Economía

El presente artículo parte del diagnóstico, basado en los datos más actuales del servicio de la deuda y las necesidades de financiación de los países en desarrollo, que revela la … El presente artículo parte del diagnóstico, basado en los datos más actuales del servicio de la deuda y las necesidades de financiación de los países en desarrollo, que revela la existencia de importantes tensiones de liquidez como uno de los desafíos más acuciantes en el ámbito de la arquitectura financiera internacional. Se trata de una encrucijada para la que se buscan soluciones urgentes. Los dos instrumentos de deuda propuestos como solución en este artículo, los canjes de deuda y las cláusulas de suspensión de deuda, sobre todo usados de forma agregada, tienen el potencial de servir como un alivio significativo a estas situaciones. Una contribución importante de este artículo es, además, la presentación y síntesis de las características de estos instrumentos de deuda en el caso de España.

Aumentando la capacidad de préstamo de los Bancos Multilaterales de Desarrollo

2025-06-18

Paulina Beato Blanco | ICE Revista de Economía

El artículo presenta las necesidades de financiación para el desarrollo y las opciones para incrementar la capacidad de préstamo de los Bancos Multilaterales de Desarrollo (BMD). En particular, examina las … El artículo presenta las necesidades de financiación para el desarrollo y las opciones para incrementar la capacidad de préstamo de los Bancos Multilaterales de Desarrollo (BMD). En particular, examina las cinco recomendaciones del grupo de trabajo comisionado por el G-20 para revisar los marcos de adecuación de capital de estas instituciones y el grado de avance de las mismas. Dedica una atención especial a la mejor y más eficiente utilización del denominado capital exigible, un capital suscrito por los accionistas, pero no desembolsado. Concluye con unas sugerencias para acelerar la implantación de las mencionadas recomendaciones que podrían ser consideradas en los análisis y reflexiones de la IV Conferencia Internacional sobre Financiación para el Desarrollo.

The politics of international money and finance

2025-06-17

Andrew Victor Rys , David A. Steinberg | Edward Elgar Publishing eBooks

Inflation, War, and Tightening

2025-06-17

| Princeton University Press eBooks

Reflexiones sobre la concepción económica martiana del desarrollo económico de América Latina y El Caribe

2025-06-17

René Rodríguez Sarda , Jessica Argote Arrastre , Daniela Torres-Hernández | Observatorio de las Ciencias Sociales en Iberoamérica

El pensamiento económico martiano tiene por característica ser diverso por la cantidad de distintos temas que el mismo aborda, ello pudiese parecer una limitante, pero para nada lo es. En … El pensamiento económico martiano tiene por característica ser diverso por la cantidad de distintos temas que el mismo aborda, ello pudiese parecer una limitante, pero para nada lo es. En sus trabajos periodísticos, Martí desarrolló, como todo agudo observador, temas de la actualidad de su época, extrayendo de ellos, ideas que hoy permiten señalar la agudeza con que las mismas fueron trabajadas, lo que le permitió señalar aspectos de la vida económica que otros no pudieron ver. Supo extraer un conjunto de conclusiones e ideas que hoy no han perdido su validez y muchas veces se adelantan a su tiempo. El trabajo que se presenta, constituye una ampliación de una serie de ideas sobre cómo el maestro abordó el desarrollo socio económico para los pueblos de la América, al sur del río bravo, la cual él define como “Nuestra América”, además de continuar el abordaje sobre una serie de temas que complementan sus ideas sobre el desarrollo. Para ello, nos apoyamos en la obra original del maestro, recogida en sus trabajos periodísticos, así como también, de las cartas de su abundante epistolario sobre la situación económica de la América Hispana.

Brazil in the Global Financial Order:

2025-06-17

Pedro Lange Netto Machado , Luiz Fernando de Paula , Eduardo Mantoan | Bristol University Press eBooks

Teoria da failing firm defense e os atos de concentração no âmbito do CADE

2025-06-17

Fábio Campelo Conrado de Holanda , Luiz Barroso | Revista da AGU

Empresas que estejam em crise econômico-financeira ou em vias de ter sua falência decretada, comumente precisam liquidar o seu ativo, seja em prol do soerguimento (recuperação), seja para o fim … Empresas que estejam em crise econômico-financeira ou em vias de ter sua falência decretada, comumente precisam liquidar o seu ativo, seja em prol do soerguimento (recuperação), seja para o fim exclusivo de pagamento dos credores (falência). Sendo possível uma interseção do direito recuperacional e falimentar com o direito antitruste, na medida em que os atos de liquidação do ativo possam resultar, preenchido os requisitos, em um Ato de Concentração (Lei 12.529/2011), devendo ter que submeter a apreciação da operação ao Conselho Administrativo de Defesa Econômica (CADE). O tratamento da empresa em crise necessariamente deve ser especial, por isso criou-se a Teoria da Failing Firm Defense (FFD). A referida teoria é suscitada como tese de defesa por agentes econômicos que precisam realizar operações de concentração e não conseguem preencher os requisitos para a sua aprovação junto a autoridade antitruste, contudo, dada as condições financeiras ruins, pela adoção da teoria, poderiam vislumbrar um tratamento diferido. Tal teoria possui aplicação no Brasil, pois já foi examinada em diversos julgados do CADE, inclusive consta em sua Guia de Análise de Atos de Concentração Horizontal. O presente artigo pretende examinar a incorporação da Teoria FFD no Brasil, especialmente nos procedimentos perante o CADE, para compreender a análise dos critérios para a sua aplicação. A análise contribui para a comunidade jurídica, já que fornece subsídios para conhecer os critérios. Em conclusão, é possível afirmar que houve a incorporação da Teoria da FFD, o que poderá embasar a construção das teses de defesa das empresas em crise.

A importância do Estado na promoção do desenvolvimento econômico

2025-06-17

J. Carvalho , Jeferson Sousa Oliveira | Revista da AGU

Muito se discute sobre os limites da participação pública no mercado, seja de forma direta ou indireta, resultando em posicionamentos favoráveis e contrários. Contudo, tem-se que o Estado exerce um … Muito se discute sobre os limites da participação pública no mercado, seja de forma direta ou indireta, resultando em posicionamentos favoráveis e contrários. Contudo, tem-se que o Estado exerce um importante papel na promoção do desenvolvimento, o qual deve ocorrer com o auxílio da iniciativa privada, através de uma convivência harmônica e equilibrada entre os interesses públicos e particulares. Logo, objetiva-se tratar da importância da atuação pública no mercado interno, visando a promoção do desenvolvimento ao lado da iniciativa privada. Para tanto, utiliza-se o método dedutivo, bem como análise bibliográfica e normativa. Conclui-se que o Estado deve atuar sempre que for necessário na defesa dos interesses públicos, pois atribuir-lhe competências restritivas pode prejudicar significativamente o processo de desenvolvimento nacional.

O PIB, o decrescimento e os novos caminhos para mensurar o desenvolvimento econômico

2025-06-16

Mateus Nogueira Cesar | Revista Caribeña de Ciencias Sociales

Este artigo analisa as transformações qualitativas e quantitativas da produção econômica, evidenciando como a Revolução Industrial e o consumismo pós-Segunda Guerra Mundial impulsionaram o crescimento econômico e a degradação ambiental. … Este artigo analisa as transformações qualitativas e quantitativas da produção econômica, evidenciando como a Revolução Industrial e o consumismo pós-Segunda Guerra Mundial impulsionaram o crescimento econômico e a degradação ambiental. Critica-se o Produto Interno Bruto (PIB) como medida inadequada de desenvolvimento, uma vez que ignora aspectos socioambientais e promove uma visão distorcida de progresso. Alternativas como o Índice de Desenvolvimento Humano (IDH), Felicidade Interna Bruta (FIB) e Índice de Progresso Social (IPS) são exploradas, destacando suas vantagens e limitações. O IDH, apesar de inovador, ainda está atrelado à renda; o FIB, por outro lado, propõe a felicidade como medida, mas enfrenta dificuldades metodológicas; e o IPS oferece uma abordagem mais completa ao integrar necessidades básicas e qualidade de vida. O artigo propõe, ainda, o conceito de “decrescimento”, defendido por autores como Serge Latouche, que visa romper com a lógica do crescimento ilimitado e priorizar a sustentabilidade e o bem-estar humano. A crítica central é a necessidade de repensar o modelo econômico vigente, priorizando a vida e o meio ambiente sobre a maximização da produção.

Neoliberal ideology or rent seeking? What explains World Bank financing decisions?

2025-06-16

Brian Meehan | Journal of Public Finance and Public Choice

Financing decisions made by the World Bank are frequently criticized for their perceived alignment with the principles of the “Washington Consensus” or “neoliberal” free-market ideology. Critics argue that the conditions … Financing decisions made by the World Bank are frequently criticized for their perceived alignment with the principles of the “Washington Consensus” or “neoliberal” free-market ideology. Critics argue that the conditions imposed by these institutions as prerequisites for funding reflect a commitment to this ideological framework. This article seeks to quantify the extent to which market reforms in the style of the Washington Consensus or neoliberalism serve as predictors of World Bank funding decisions. To examine this relationship, I utilize data from Malik and Stone regarding World Bank loan disbursements. The article focuses on whether changes in economic freedom before the closing of World Bank funding projects generate more complete loan disbursements. My chosen metric for measuring neoliberal reforms is the Economic Freedom of the World Index. Results of this analysis are compared with the original findings of Malik and Stone, which emphasize the significant role played by corporate interest lobbying and rent-seeking behavior in securing World Bank financing. The outcome of this study provides limited support for the rent-seeking narrative proposed by Malik and Stone, but it does not substantiate the notion that financing decisions hinge on neoliberal institutional changes.

The public–private wage gap in the euro area a decade after the sovereign debt crisis

2025-06-14

Víctor Caballero-Cordero , Corinna Ghirelli , Ángel Luis Gómez +1 more | International Journal of Manpower

Purpose The most recent fiscal adjustment episode in the euro area occurred during the so-called euro area sovereign debt crisis and relied quite significantly on the public wage bill. The … Purpose The most recent fiscal adjustment episode in the euro area occurred during the so-called euro area sovereign debt crisis and relied quite significantly on the public wage bill. The austerity measures contributed to an immediate partial correction of positive public–private pay differentials, especially in countries subject to the EU’s financial assistance programs. An important aspect of the debate on public wage bill restraint concerns how long such policies can be sustained over time. In this paper, we investigate whether the downward corrections that were initially observed in many countries were permanent or ended up being transitory (i.e. whether they were reversed in subsequent years). Design/methodology/approach We focus on euro area countries over the 2007–2022 period so as to have sufficient observations in both the pre- and post-adjustment periods. We estimate the wage differential controlling for observable differences between individuals using cross-sectional microdata from a harmonized survey, the European Union Statistics on Income and Living Conditions (EU-SILC). Findings The lower wage premiums only partially reverted to pre-fiscal consolidation levels over the subsequent decade. More sustained policy achievements are linked to larger fiscal adjustment efforts during the 2010–2014 crisis. Originality/value This research provides a comprehensive analysis of the public–private pay gap in the context of significant economic events, shedding light on the long-term effects of fiscal consolidations on wage structures, which is crucial to inform future economic policies.

Understanding Inequality Throughout Production and Financial Activities

2025-06-13

Salvador Rivas-Aceves | MONTENEGRIN JOURNAL OF ECONOMICS

Public Investment and Economic Growth in a Three Sector Open Economy With an Infrastructure Constraint

2025-06-12

Raul Zelada‐Aprili | Metroeconomica

ABSTRACT This paper presents a structuralist economic model of growth and distribution in an open, three sector economy with an infrastructure constraint and deficient aggregate demand where the government sector … ABSTRACT This paper presents a structuralist economic model of growth and distribution in an open, three sector economy with an infrastructure constraint and deficient aggregate demand where the government sector captures the rents (in the Ricardian sense) originated in an enclave sector such as an oil/gas or mineral sector. The model seeks to explore the ways by which these constraints determine the growth rate and the distribution of income. The model shows that once the fiscal constraint is overcome ‐ which translates itself into an increase in public investment in infrastructure ‐ and the sectoral supply bottlenecks gradually eased, simultaneous increases in employment, real wages and growth become attainable.

Bank credit, financial flows, and distribution of income in the Eurozone

2025-06-10

Marcello Spanò | Competition & Change

Using a flow-consistent dataset consisting of sectorial data covering Germany, France, Italy, and Spain over a 27 years span (1995–2021), this study examines how firms and households compete for funding … Using a flow-consistent dataset consisting of sectorial data covering Germany, France, Italy, and Spain over a 27 years span (1995–2021), this study examines how firms and households compete for funding when bank credit contracts and the government’s role in this conflict. It distinguishes between gross flows from bank credit and noncredit sources, including security liabilities and internal funds. The findings show that during credit slowdowns, firms (i) replace bank credit with nonloan liabilities and (ii) increase internal funds by diverting income from households. The latter result occurs through revenue concentration among larger firms and by limiting the value-added distribution to households. Except in Spain, households maintained consumption patterns, making consumption countercyclical post-2008, although sharply disrupted by fiscal austerity in 2012–13. Overall, fiscal policies favored large corporations: during industrial consolidation, they eased distributional tensions, while in periods of income decline or stagnation, they shifted the burden onto households.

Post-Keynesian Economics: Theory and Ethics

2025-06-09

Amitava Krishna Dutt | Review of Political Economy

Aligners and the GDP: Is the confidence and capability there?

2025-06-09

Ama Johal | BDJ In Practice

Um prelúdio para o regresso do capital monopolista

2025-06-08

Samuel Spellmann | Princípios

O papel da atuação estatal na economia tem sido redescoberto ao longo dos últimos anos. Embora o circuito do capital seja acelerado através das políticas anticíclicas dos bancos centrais do … O papel da atuação estatal na economia tem sido redescoberto ao longo dos últimos anos. Embora o circuito do capital seja acelerado através das políticas anticíclicas dos bancos centrais do centro do capitalismo, não há adiamento perpétuo das contradições subjacentes à reprodução capitalista. O capital não pode se tornar, por um mero ato de ofício, mais capital. Se a reprodução capi- talista depende necessariamente da continuidade da expansão dos capitais, é também verdade que essa mesma reprodução não se desprende da materiali- dade, embora busque perpetuamente dela afastar-se. A transição ao socialismo na China toma a forma do socialismo de mercado. Este artigo relaciona o con- ceito de hibridismo de Lukács e a sua relação com a transformação da econo- mia chinesa. O texto se divide em dois grandes tópicos. O primeiro deles traz o hibridismo enquanto conceito marxista. O outro centro magnético é uma abor- dagem da atualidade histórica do capital monopolista. Caracterizá-lo implica necessariamente uma revisão do desenvolvimento teórico do conceito, para, na sequência, se poder abordar a raiz central do texto: uma vez que o hibridismo de modos de produção se expressou já na primeira natureza do capital mono- polista, resta saber de que forma se apresentaria na atualidade histórica.

Mark Carlson: The Young Fed: The Banking Crises of the 1920s and the Making of a Lender of Last Resort

2025-06-06

Jonathan Rose | Business Economics

Corporate Debt, Rentiers' Portfolio Dynamics, Instability and Growth: A neo-Kaleckian Perspective

2020-09-11

Pintu Parui

Considering a stock-flow consistent neo-Kaleckian macro-model, along with firms' debt dynamics, in the long-run, we incorporate portfolio dynamics of rentiers and investigate the possibility of multiple equilibria and dynamic stability … Considering a stock-flow consistent neo-Kaleckian macro-model, along with firms' debt dynamics, in the long-run, we incorporate portfolio dynamics of rentiers and investigate the possibility of multiple equilibria and dynamic stability of the economy. Both the debt-led and the debt-burdened demand and growth regimes are possible. We find share buybacks, under certain conditions, not only may lead to the deterioration of the equilibrium rate of capital accumulation in the long-run but may potentially destabilize the entire economy. A strictly regulated financial market is desirable, as otherwise, the economy may lose its stability and produces the limit cycles.

O imposto de renda e o imposto sobre serviços nas sociedades de economia mista. Doi: 10.5020/2317-2150.1992.v.01.n01.p55

1992-01-01

José Emanuel Sampaio de Melo

O trabalho diz respeito a taxas e suas origens no direito brasileiro. Trata, ainda, do imposto sobre a renda e servicos. Traz generalidades sobre as sociedades de economia mista (sociedade … O trabalho diz respeito a taxas e suas origens no direito brasileiro. Trata, ainda, do imposto sobre a renda e servicos. Traz generalidades sobre as sociedades de economia mista (sociedade controladas pelo Estado), e refere-se a subjecao dessas empresas a regulamentacao tributaria ordinaria.