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Disequilibrium as the origin, originality, and ambivalences of Clower's microfoundations of monetary theory
Plassard, Romain - 2016
for disequilibrium microfoundations to Keynesian macroeconomics. Third, Clower's (1967) project was to formulate a … disequilibrium monetary theory. Fourth, such a project failed because of Clower's (1965) approach to disequilibrium economics. …
Persistent link: https://www.econbiz.de/10011613806
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Macroeconomic Perspectives on Inflation and Unemployment
Nitzan, Jonathan - 1990
The present paper is the first in a series of three essays in which we examine the macroeconomic and structural approaches to inflation. In this paper we explore some of the key contributions to the macroeconomic literature which appeared since the late 1950s. Much of this literature evolved in...
Persistent link: https://www.econbiz.de/10011645019
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Inflation As Restructuring. A Theoretical and Empirical Account of the U.S. Experience
Nitzan, Jonathan - 1992
The thesis offers a new framework for inflation as a process of restructuring. Contrary to existing theories of inflation, which tend to take structure and institutions as given for the purpose of analysis, we argue that inflation could be understood only in terms of ongoing structural and...
Persistent link: https://www.econbiz.de/10011646704
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Distribution and growth: A dynamic Kaleckian approach
Patriarca, Fabrizio; Sardoni, Claudio - 2011
This paper studies the effects of an (exogenous) increase of nominal wages on profits, output, and growth. Inspired by an article by Micha± Kalecki (1991), who concentrated on the effects on total profits, the paper develops a model that explicitly considers the dynamics of demand, prices,...
Persistent link: https://www.econbiz.de/10010286516
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Aggregation when Markets do not Clear
Andreassen, Leif - 1995
, it is possible to identify most of the micro structure of an economy in disequilibrium from observed aggregate variables …. The paper discusses different possible indicators of disequilibrium in the labor market and presents some illustrative …
Persistent link: https://www.econbiz.de/10011967911
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Market collusion and regime analysis in the US gasoline market
Tabaghdehi, Seyedeh Asieh H. - In: Journal of Economic Structures 7 (2018) 9, pp. 1-14
This article is concerned with disequilibrium regime switching model to capture different regimes in the US gasoline …
Persistent link: https://www.econbiz.de/10011991443
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Risk culture during the last 2000 years: From an Aleatory Society to the illusion of risk control
Milkau, Udo - In: International Journal of Financial Studies 5 (2017) 4, pp. 1-20
The culture of risk is 2000 years old, although the term 'risk' developed much later. The culture of merchants making decisions under uncertainty and taking the individual responsibility for the uncertain future started with the Roman 'Aleatory Society', continued with medieval sea merchants,...
Persistent link: https://www.econbiz.de/10011996064
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Improving Estimation of Labor Market Disequilibrium Using Shortage Indicators, with an Application to the Market for Anesthesiologists
Baird, Matthew; Daugherty, Lindsay; Kumar, Krishna B. - 2019
are likely in disequilibrium. We develop a new methodology to improve the estimation of a reduced form disequilibrium …-indicator informed disequilibrium model includes as a special case the foundational model of Maddala and Nelson (1974). We demonstrate … market for anesthesiologists, a profession susceptible to disequilibrium. In this application, we find that our new …
Persistent link: https://www.econbiz.de/10012005830
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Evolutionary Theories in Environmental and Resource Economics: Approaches and Applications
van den Bergh, Jeroen C.J.M.; Gowdy, John M. - 1998
change, irreversible change, unpredictability, qualitativechange and disequilibrium, are examined. It is argued that there … environmental processes, and design of environmental policy. …
Persistent link: https://www.econbiz.de/10010324649
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Improving Estimation of Labor Market Disequilibrium through Inclusion of Shortage Indicators
Baird, Matthew; Daugherty, Lindsay; Kumar, Krishna - 2017
disequilibrium. We develop a new methodology to improve the estimation of a reduced form disequilibrium model from the existing … disequilibrium model includes as a special case the foundational model of Maddala and Nelson (1974), off of which we build. We … find that our new shortage indicator informed disequilibrium model fits the data better than the Maddala and Nelson model …
Persistent link: https://www.econbiz.de/10014000546