We show that an ad valorem tax is better than an equal-revenue unit tax when consumers spend some fixed proportion of income on taxed goods, when firms use constant mark-up pricing, and entry and exit drive per-firm profit to zero. These key assumptions implies that ad valorem taxes are superior...

It is an empirically established fact that managers use cost based percentage margins when they price their goods. As a consequence, percentage mark-ups should be determined as equilibrium choices. This paper incorporates this empirical observation into the analysis of competition among...

This article concentrates on the development of Post-Keynesian economics since 1950s, which is one of contemporary streams of keynesian thought. Post-Keynesian economics aims at building a new paradigma in economics on the bases of the original theories of J. M. Keynes and its perfecting by an...

The New Keynesian Phillips Curve (NKPC) has become the benchmark model for understanding inflation in modern monetary economics. One reason for the popularity is the microfoundation of the model, which decomposes agents' behaviour into price adjustments and deviations of the price level from its...

In this paper we seek to identify different driving forces behind the fall in LNG liquefaction unit costs. Our focus is on organizational learning including process specific R&D, but we also seek to account for autonomous technological change, scale effects and the effects of upstream...

This study develops a general understanding of the evolution of the Western World commercial communication sate-llite supply industry. Initial information classifies this industry as an oligopoly with the vendors as price setters. Over three generations, the technical attributes of communication...

We investigate how firms' market power affects the price level. In our small macro- model we show, that firms - in addition to hypothesised structural mark-up pricing power - may take advantage of favourable business cycle fluctuations. The paper provides empirical evidence for both these...

Simulations with dynamic, single country, CGE models typically imply that reductions in domestic demand, e.g. a cut in investment, generate increases in exports and reductions in imports facilitated by real depreciation. However, currently in the U.S. a large reduction in investment is occurring...

The aim of this paper is to analyse the concept of class struggle in Michal Kalecki's writings. First, his inclusion of trade unions' strength as one of the determining elements of the degree of monopoly is examined, taking into consideration Abba Lerner's formulation of the latter and its...

In this paper, we investigate the analytical links between the rate of unemployment, monetary creation and how individuals share the value added in an economy with three types of agents : capital owners, managers and employees. This relationship relies on the fact that the rate of unemployment...