Showing 1 - 10 of 20
The "linearity critique" of endogenous growth models is presented in a general context of an arbitrary growth model and reassessed. It is argued, that presence of linearities is not a valid criterion for rejecting growth models. Existence of exponential/geometrical steady- state growth (i.e. of...
Persistent link: https://www.econbiz.de/10005408263
the relation-ships between growth in turnover, stability and effectivity are shown. In conclusion a number of …
Persistent link: https://www.econbiz.de/10005125669
growth and inflation to the specification of the estimating model; second, to test the stability of their relationship in the … cost function, and run the appropriate stability and causality tests. …
Persistent link: https://www.econbiz.de/10005126201
Demand for money is an important macroeconomic relationship. Its stability has implications for the choice of monetary … policy targets. This paper estimates demand for narrow money in Fiji and evaluates its robustness and stability. It is found …
Persistent link: https://www.econbiz.de/10005126361
Keynes’ General Theory provides an interesting metaphor for asset markets: they are like newspaper competitions where contestants have to pick up the six prettiest faces from a hundred photographs, and the prize would go to one whose choice is closest to the average preferences. Keynes did not...
Persistent link: https://www.econbiz.de/10005126429
This paper deals with the analytical and graphical representation of the bifurcations appearing from the adjustment dynamics of a 2- player Cournot duopoly, proposed by Puu (1997). We establish admissibility conditions on the initial state of the adjustment dynamics and visualize the dynamics in...
Persistent link: https://www.econbiz.de/10005135005
This paper studies the formation of networks among individuals. The focus is on the compatibility of overall societal welfare with individual incentives to form and sever links. The paper reviews and synthesizes some previous results on the subject, and also provides new results on the existence...
Persistent link: https://www.econbiz.de/10005135109
Perfect equilibria of dynamic political games. The present paper examines issues of stability and reform when such equilibria … exist. Which environments tend toward institutional stability? Which tend toward reform? We show that when political rules … decisions alone. More generally, we identify sufficient conditions for stability and reform in terms of recursive self selection …
Persistent link: https://www.econbiz.de/10005062355
. As an interesting result, it is demonstrated that stability need not be required for the success of a matching mechanism …
Persistent link: https://www.econbiz.de/10005550908
-run elasticities of income and price variables. This study also implements CUSUM and CUSUMSQ stability tests on the estimated new …
Persistent link: https://www.econbiz.de/10005556214