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Equality of Demand and Supply Neither Determines Price Nor Clears the Market

Gani, Mohammad - EconWPA - 2004

The belief that equality of demand and supply determines price and clears the market is universal. Shockingly, this belief is unfounded. It contradicts macro’s claim that equality of demand and supply determines output. It contradicts (new) monetary theory, which claims that equality of demand...

Persistent link: https://www.econbiz.de/10005413280

The meaning of gainful trade

Gani, Mohammad - EconWPA - 2004

'Gainful trade: a new economics' explains why and how economics may be rebuilt from scratch to allow the occurence of gainful trade. It uses a new concept of consistency of social choice and a new analytical tool called consistency analysis to build a unified model of economics. It answers all...

Persistent link: https://www.econbiz.de/10005119309

Assessing the Economic Value of Ecosystem Conservation

Pagiola, Stefano; Ritter, Konrad von; Bishop, Josh - EconWPA - 2005

single activity, and the seemingly simple question ‘how valuable is an ecosystem?’ can be interpreted in many different ways …, regional, or local level. (2) Determining the net benefits of interventions that alter ecosystem conditions. This question … an ecosystem, and why, can help to design more effective conservation approaches. From an equity perspective, the impact …

Persistent link: https://www.econbiz.de/10005118910

Private, Private Government-Dependent and Public schools. An International Effectiveness Analysis

Vandenberghe, Vincent - EconWPA - 2003

This paper aims at estimating the effect on achievement of various types of schools: private, private but government-dependent and public ones. It is based on the analysis of Reading test scores of 15-year-old students surveyed in 2002 across OECD and non-OECD countries. The estimation of the...

Persistent link: https://www.econbiz.de/10005125904

Global Threats and the Domestic Struggle for Power

Garfinkel, Michelle R. - EconWPA - 2003

This paper considers an economy where groups compete in a contest for power to redistribute future income in their favor. An increased external threat of terrorism--either an increase in the likelihood of a successful terrorist attack or a greater loss of income in the event of a successful...

Persistent link: https://www.econbiz.de/10005125931

Stable Alliance Formation in Distributional Conflict

Garfinkel, Michelle R. - EconWPA - 2003

This paper develops a positive analysis of alliance formation that builds on a simple economic model featuring a “winner-take-all” contest for control of some resource. When an alliance forms, members pool their efforts in that contest and,if successful, apply the resource to a joint...

Persistent link: https://www.econbiz.de/10005126004

The Misallocation of Resources of Anticipated Inflation

Frenkel, Michael; Mehrez, Gil - EconWPA - 1997

prefer to work in the manufacturing sector. In equilibrium, the allocation of workers between the two sectors, i.e., the size …

Persistent link: https://www.econbiz.de/10005126418

Design, Analysis and Simulation of the Progressive Second Price Auction for Network Bandwidth Sharing

Lazar, Aurel; Semret, Nemo - EconWPA - 1998

We present the Progressive Second Price auction, a new decentralized mechanism for allocation of variable-size shares … players bid at prices equal to their marginal valuation of the resource. PSP is efficient in that the equilibrium allocation …

Persistent link: https://www.econbiz.de/10005407539

Private, Private Government-Dependent and Public schools. An International Efficiency Analysis using Propensity Score Matching

Vincent, Vandenberghe; Stéphane, Robin - EconWPA - 2003

This paper aims at estimating the effect on achievement of various types of schools: private, private but government-dependent and public ones. It is based on the analysis of Math, Science and Reading test scores of 15 year-olds students surveyed in 2002 across OECD and non-OECD countries. The...

Persistent link: https://www.econbiz.de/10005408433

Inflation and Endogenous Technological Growth

Mehrez, Gil; Frenkel, Michael - EconWPA - 1998

The paper develops a Romer-type growth model with a research sector, a manufacturing sector, and a financial sector and shows that inflation has an adverse effect on economic growth. Higher inflation increases the incentives for agents to use money substitutes through financial services in an...

Persistent link: https://www.econbiz.de/10005412667