Prevailing trade theory is a neglected stepchild of economics. Micro rejects the sole reason for trade’s occurrence. It declares zero profit in equilibrium. Monetary theory and macroeconomics dismiss concerns of trade financing. They assert that money has nothing to do with traded output, but...

This paper argues that in the presence of intersectoral input-output linkages, microeconomic idiosyncratic shocks may lead to aggregate fluctuations. In particular, it shows that, as the economy becomes more disaggregated, the rate at which aggregate volatility decays is determined by the...

This paper argues that in the presence of intersectoral input-output linkages, microeconomic idiosyncratic shocks may lead to aggregate fluctuations. In particular, it shows that, as the economy becomes more disaggregated, the rate at which aggregate volatility decays is determined by the...

The next international version of the System of National Accounts will recommend that R&D (Research and Development) expenditures be capitalized instead of being immediately expensed as in the present System of National Accounts 1993. An R&D project creates a new technology, which in principle...

This paper specifies and interprets those direct relations which exist between the dual concepts of complete controllabil-ity/observability (Kalman, 1960), on the one hand, and the con-cept of the regular technique of production (Schefold, 1971), on the other. Specifically, it shows, first, that...

The region of Aquitaine, located in south-west of France, has implemented a climate plan for the period 2007-2013 in order to avoid 2 883 ktCO2eq per year for 2013. But this region is an important place of transit’s flow between northern Europe and southern Europe. The share of goods transport...

Using the works of Steven Lukes, John Kenneth Galbraith and Kenneth Boulding, this paper gives a typology of power relationships in economics, a concept that has been “forgotten” by the mainstream. Secondly, this typology is used to evaluate and show the real aim of neo-liberal policies...

El efecto bullwhip es un fenómeno causante de ineficiencias en la gestión de la cadena de suministros. El objetivo del presente artículo es analizar el impacto sobre el rendimiento de una cadena de suministro de dos de las técnicas más comunes de resolución del efecto bullwhip: la regla de...

The nation’s economic strategy has been the formation of trade blocks under the theory of comparative advantage. However, empirical evidence shows that the multipliers of trade on economic structure not all countries are as predicted by theory. This paper analyzes Feedback and Spillover...

The investment acceleration principle is a heuristic for modeling investment time series out of consumption time series. The model presented herein develops a disaggregated accelerator equation whose coefficients are the weights of a Kohonen neural net that represents firms' decision-making....