We propose a disaggregated representation of production using an agent-based fund-flow model that emphasizes inefficiencies, such as factor idleness and production instability, and allows us to explore their emergence through simulations. The model incorporates productivity dynamics (learning...

In terms of convex analysis the revenue function of a country with a given factor endowment may be seen as the support function of the production possibility set. At the same time this revenue function is the so called convex-conjugate of the indicator function of the production possibility set....

A political economy approach to explaining the existence of different human resource strategies is developed in this article – in short: a political personnel economy. The starting point is a critical analysis of the abstinence of politics and power and the resulting explanation deficiencies...

In this paper we try to identify manufacturing and service clusters in Spain, using data from Mercantile Registers of 2006. The proposed methodology partially follows contributions of Duranton and Overman (2005), Brenner (2003 and 2004) and Ellison and Glaser (1997), but departing from them we...

Managerial and Business Economics (ME/BE) aims at using quantitative and computational methods to make an efficient (ideally optimal) assignment of the scarce resources owned by firms and organizations. In the current global market, characterized by a fierce competition, an optimal use of the...

After the publication of Keynes' "General Theory," economics was frequently described as schizophrenia: (neo-) classical at the micro-level, but Keynesian at the macro-level. In actuality, Keynes' revolution was, to a substantial part, based on the behavioral micro-foundations of the world we...