This article develops a multitask model in which the agent has to produce both verifiable and unverifiable outputs in a dynamic framework as observed in actual labor markets and practices. The model derives an important result regarding the timing and the length of a wage contract. A short-term...

In this paper, we investigate equilibrium cycles in dynamic general equilibrium models with cash-in-advance constraints. Our findings are two-fold. First, in such models, if an equilibrium cycle exists, then there also exists a continuum of equilibrium cycles in its neighborhood. Second, the...

This paper investigates the relationship between value relevance of the multi-step income statement and managerial opportunistic behavior. In Japan, net income is disclosed by three steps, i.e., 1) operating profits from core operating activity, 2) ordinary income, measured by adding gains and...

The main purpose of this paper is to clarify some important links between the Social Accounting Matrix and Fixed Price Multiplier(FPM) Models. The aim is expository. It is hoped that a brief but historically accurate background and description of SAM and SAM-based fixed price multiplier models...

The purpose of this paper is to investigate the value relevance of the legally mandated provisions. This paper examines the effects of changes in provisions on the value relevance of earnings. The results show that the calculation of provisions will deteriorate the relevance of earnings when the...

This paper analyzes both global and regional approaches to solving problems of energy security and ecological imbalance by addressing specifically the problems of China's energy security. PRC's growing energy dependence has become a major concern for both economic and national security...

This paper starts with an initial gesture accepting the validity of many of the criticisms of modernity by some leading postmodern thinkers.From this initial position, it then evalutess the postmodernist positions themselves with regards to democracy and justice by paying careful attention to...

The main purpose of this paper is to offer a somewhat novel theory of deep democracy and economic justice. Part of the novelty consists in considering radical uncertainty and indeterminacy under postmodern conditions. I claim that even under such conditions a plausible theory of deep democracy...

The paper surveys selectively and analytically the implications of the various (macroeconomic) computable general equilibrium (CGE) models constructed for the purpose of integrating poverty analysis with the usual macroeconomic variables and relationships. It is found that a dual-dual production...

In this paper we present two new concepts for studying sustainability. The first is the idea of an environmentally adjusted surplus(ES). The classical concept of surplus is revised to approximate the total available discretionary income for the society under ordinary (capitalist) growth...