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Implicit Microfoundations for Macroeconomics

Wright, Ian - Institut für Weltwirtschaft (IfW) - 2008

A large market economy has a huge number of degrees of freedom with weak microlevel coordination. The implicit microfoundations' approach assumes this property of micro-level interactions more strongly conditions macro-level outcomes compared to the precise details of individual choice behavior;...

Persistent link: https://www.econbiz.de/10005083360

The Concept of a World Economic Order

Siebert, Horst - Institut für Weltwirtschaft (IfW) - 2008

This paper studies the concept of an international economic order, i.e. an institutional arrangement of international rules. Such rules emerge from negative experiences – historical disasters – that inflict severe hardship on people. A taxonomy for rules reducing transaction costs is...

Persistent link: https://www.econbiz.de/10005076106

Macroeconomic Relaxation: Adjustment Processes of Hierarchical Economic Structures

Hawkins, Raymond; Aoki, Masanao - Institut für Weltwirtschaft (IfW) - 2008

We show how time-dependent macroeconomic response follows from microeconomic dynamics using linear response theory and a time-correlation formalism. This theory provides a straightforward approach to time-dependent macroeconomic model construction that preserves the heterogeneity and complex...

Persistent link: https://www.econbiz.de/10005097460

A Note on Aoki-Yoshikawa Model

Scalas, Enrico; Garibaldi, Ubaldo - Institut für Weltwirtschaft (IfW) - 2008

In this paper, we explore a dynamical version of by Aoki and Yoshikawa model (AYM) for an economy driven by demand. We show that when an appropriate Markovian dynamics is taken into account, AYM has di¤erent equilibrium distributions depending on the form of transition probabilities. In the...

Persistent link: https://www.econbiz.de/10005097476

How Global Rules are established and stabilized

Siebert, Horst - Institut für Weltwirtschaft (IfW) - 2007

This paper analyzes how international rules are established and stabilized, i.e. how an international institutional order develops. Rules emerge mainly through learning from negative experience and serve to reduce transaction costs. The paper looks at mechanisms that stabilize rule systems, at...

Persistent link: https://www.econbiz.de/10005755258

Psychophysical interpretation for utility measures

He, Yuqing - Institut für Weltwirtschaft (IfW) - 2011

The paper explores utility measures by combining experiments with mathematical derivations in psychophysics paradigm. The analysis on ultimatum game experiment reveals an evidence for utility threshold and thus supports Bernoulli's utility logarithmic law. Both experimental results and...

Persistent link: https://www.econbiz.de/10009370689

Science and ideology in economic, political and social thought

Hillinger, Claude - Institut für Weltwirtschaft (IfW) - 2007

the natural sciences. I found that my effort at using natural science methods in economics was met with little … political science have given me additional insights into the destructive role of ideology beyond the history of thought …

Persistent link: https://www.econbiz.de/10005083341

Diversity of science linkages and innovation performance: some empirical evidence from Flemish firms

Cassiman, Bruno; Veugelers, Reinhilde; Zuniga, Pluvia - Institut für Weltwirtschaft (IfW) - 2009

This paper examines the diversity of the types of links of firms to science and their effect on innovation performance … for a sample of Belgian firms. While at the industry level links to science are highly related to the R&D intensity of the … sector, we show that there exists considerable heterogeneity in the type of links to science at the firm level. Overall …

Persistent link: https://www.econbiz.de/10005083361

How are China's state-owned enterprises doing in the 1990s? Evidence from three interior provinces

Raiser, Martin - Institut für Weltwirtschaft (IfW) - 1996

Since its inception in the early 1980s, the success of China's enterprise reforms remains hotly debated. This paper introduces a new element into the analysis of state-owned enterprise performance by drawing on the recent increase in interregional income disparities. It is argued that as a...

Persistent link: https://www.econbiz.de/10009276735