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The economy is a system of interrelated variables which must be studied as a whole. Lack of understanding of the interrelationship between economic agents may result in misleading information. Government transactions are the only controllable input to the system. It is essential, therefore, to...
Persistent link: https://www.econbiz.de/10009431447
Recent proposals for a European Monetary Union raise the prospect of a European-wide monetary authority. Successful implementation of monetary policy by a European central bank would require the existence of a stable relationship between the quantity of money demanded and other macro-variables....
Persistent link: https://www.econbiz.de/10009431448
This thesis examines as well as compares four essential issues of the Cournot oligopoly model--existence, uniqueness, and stability of the equilibrium solution, and the competitive property of the model. A Cournot equilibrium solution exists for the market when the marginal revenue of each firm...
Persistent link: https://www.econbiz.de/10009431450
increase understanding of trade theory and introduce dynamics into trade. One of the model's major premises is that a country … the industry enters into a new phase. This approach has been accepted as an established theory though it still remains … cited as an evidence to support the product cycle theory. The whole life of monochrome television in the United States was …
Persistent link: https://www.econbiz.de/10009431451
This thesis empirically analyzes the determinants of national health care expenditures in the United States and five other industrialized economies. A reduced-form model for national health care expenditures, based upon a partial-adjustment mechanism, is specified as a function of supply and...
Persistent link: https://www.econbiz.de/10009431453
model, as well as general agreement with a large body of existent theory. … model, as well as general agreement with a large body of existent theory. …
Persistent link: https://www.econbiz.de/10009431455
This dissertation has a twofold objective: to extend the Williamson asset specificity hypothesis and to empirically test both the asset specificity hypothesis and the extension. The Williamson asset specificity hypothesis asserts that the financial leverage used by firms is a function of the...
Persistent link: https://www.econbiz.de/10009431480
In this dissertation I establish the common Physiocratic heritage shared by Karl Marx and Piero Sraffa. For Marx, this heritage finds expression in his second volume of Capital, Chapter Two, "The Circuit of Productive Capital", and for Sraffa, in his work, Production of Commodities by Means of...
Persistent link: https://www.econbiz.de/10009431517
The last three decades have witnessed a revival of interest in value theory in economics, accompanied by mounting … challenges to the neoclassical orthodoxy. Not only has neoclassical price theory come under attack, especially from the neo …-Ricardian critique of contemporary capital and distribution theory, but there has also been dissatisfaction with the performance of …
Persistent link: https://www.econbiz.de/10009431522
This dissertation is composed of two papers. In the first paper, we draw a distinction between the "optimal debt" and the "debt capacity" of a sovereign nation. It is shown that for a sovereign nation, its debt capacity is at most equal to its optimal debt. The existence and the type of...
Persistent link: https://www.econbiz.de/10009431523