In order to better understand relationships between the real economy and financial economy, it is necessary to formulate a model of financing. New Keynesian theory emphasizes that a firm’s net worth influences investment decisions and business cycles under an imperfect capital market. We have...

This paper provides future researchers of economic structure with a model for building a social accounting matrix (SAM), that is, a unique countrywide database for use in structural analysis, and applies this model to the empirical investigation of the economic structure of Pakistan. Our...

This paper examines the dynamic process of quality adjustment in cases where the economy lacks a sufficient number of markets for coordinating the level of attributes that configure the qualities of products. It shows that an adjustment process through the development and selection of...