Two major advances in the theory of the firm and (micro)economics more generally are arguably transaction costs economics (TCE) and the theory of firm resources. TCE has originally been applied to the theory of the firm, but found applications in virtually all fields of economic inquiry. The...

The analysis of the processes determining unemployment in an open economy has been considerably advanced by the work of Layard, Nickell and Jackman in their book Unemployment: Macroeconomic Performance and the Labour Market. Reviews their contribution. They have developed an analysis based on...

Hysteresis is one of the main concepts used in Layard, Nickell and Jackman's book, Unemployment: Macroeconomic Performance and the Labour Market. Attempts to clarify the concept of hysteresis, from its formal representation to its empirical applications. Emphasizes the idea that hysteresis...

Compares Stackelberg’s Grundlagen der theoretischen Volkswirtschaftslehre with a standard modern micro-economic textbook. Reveals some confusing shortcomings in the English translation. Focuses on unique peculiarities of Stackelberg’s analysis of the price formation on imperfect markets....

A general equilibrium model for mainland China's open economy is formulated and used to examine the effect of stabilisation policy on the internal and external balances. An expansionary monetary or fiscal policy in particular through its effect on consumption and labour supply raises aggregate...

Purpose – The purpose of this paper is to address differences in bartering between markets and firms, as this mode of transaction has become a norm in the broadcasting industry in the sale of advertising air time and the purchase of programs. Design/methodology/approach – Panel data from...

A general equilibrium model for mainland China′s open economy is formulated and used to examine the effect of stabilisation policy on the internal and external balances. An expansionary monetary or fiscal policy in particular through its effect on consumption and labour supply raises aggregate...

The analysis of the processes determining unemployment in an open economy has been considerably advanced by the work of Layard, Nickell and Jackman in their book Unemployment: Macroeconomic Performance and the Labour Market . Reviews their contribution. They have developed an analysis based on...

Hysteresis is one of the main concepts used in Layard, Nickell and Jackman′s book, Unemployment: Macroeconomic Performance and the Labour Market . Attempts to clarify the concept of hysteresis, from its formal representation to its empirical applications. Emphasizes the idea that hysteresis...

Compares Stackelberg’s Grundlagen der theoretischen Volkswirtschaftslehre with a standard modern micro‐economic textbook. Reveals some confusing shortcomings in the English translation. Focuses on unique peculiarities of Stackelberg’s analysis of the price formation on imperfect markets....