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Scalas, Enrico; Garibaldi, Ubaldo - 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 different equilibrium distributions depending on the form of transition probabilities. In the...

Persistent link: https://www.econbiz.de/10010298574

Implicit Microfoundations for Macroeconomics

Wright, Ian - 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...

Persistent link: https://www.econbiz.de/10010298577

A Dynamic Probabilistic Version of the Aoki-Yoshikawa Sectoral Productivity Model

Scalas, Enrico; Garibaldi, Ubaldo - In: Economics: The Open-Access, Open-Assessment E-Journal 3 (2009) 2009-15, pp. 1-10

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

Persistent link: https://www.econbiz.de/10010298634

Implicit Microfoundations for Macroeconomics

Wright, Ian - In: Economics: The Open-Access, Open-Assessment E-Journal 3 (2009) 2009-19, pp. 1-27

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

Persistent link: https://www.econbiz.de/10010298637

Macroeconomic Relaxation: Adjustment Processes of Hierarchical Economic Structures

Hawkins, Raymond; Aoki, Masanao - 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 …

Persistent link: https://www.econbiz.de/10010298571

Macroeconomic Relaxation: Adjustment Processes of Hierarchical Economic Structures

Aoki, Masanao; Hawkins, Raymond - In: Economics: The Open-Access, Open-Assessment E-Journal 3 (2009) 2009-17, pp. 1-21

Persistent link: https://www.econbiz.de/10010298636

Panel estimation of state dependent adjustment when the target is unobserved

von Kalckreuth, Ulf - 2008

Understanding adjustment processes has become central in economics. Empirical analysis is fraught with the problem that the target is usually unobserved. This paper develops, simulates and applies GMM methods for estimating dynamic adjustment models in a panel data context with partially...

Persistent link: https://www.econbiz.de/10010295881

Macroeconomics, Financial Crisis and the Environment. Strategies for a Sustainability Transition

Antal, Miklós; van den Bergh, Jeroen C.J.M. - 2014

We raise fundamental questions about macroeconomics relevant to escaping the financial and economic crisis and shifting to a sustainable economy. First, the feasibility of decoupling environmental pressure from aggregate income is considered. Decoupling as a single environmental strategy is...

Persistent link: https://www.econbiz.de/10011435400

Institutionelle Determinanten der Erwerbsarbeit zur Notwendigkeit einer Gender-Perspektive in den Wirtschaftswissenschaften

Holst, Elke - 2001

die Allokation von Ressourcen. Anhand dreier Thesen wird die Notwendigkeit einer Gender-Perspektive (soziale Konstruktion … von Geschlecht) in den Wirtschaftswissenschaften bei Analysen zum Erwerbsangebot - insbesondere dem der Frauen … neoclassical economics (rational choice approach), (2) implicit rules of behavior generated by gender roles and gender stereo …

Persistent link: https://www.econbiz.de/10010260759

What's the use of marriage?

Cigno, Alessandro - 2009

We use elementary game-theoretical concepts to compare domestic equilibria with and without marriage. In particular, we examine the effects of marriage legislation, matrimonial property regime, and divorce court sentencing practice, on the decision to marry, and on the choice of game conditional...

Persistent link: https://www.econbiz.de/10010269649