In 1972, Dreze and Modigliani Generalized the Line of Research Initiated by Leland [5] and Sandmo [8] on the Effects of Income Risk on Consumption. They Gave Necessary and Sufficient Conditions for Consumption to Decrease Under Income Risk. However, They Did Not Cover Extensively the Case of...

The Paper Has Two Major Parts. the First Part Focuses on the Theoretical Properties of a General Equilibrium Asset Price Model Describing an Economy with Actual Output Stochastically Generated by a Markovian Latent Process of Technolgical Shocks. with a Concealed State Space Economy, Agents Make...

Cet Article Se Divise En Trois Sections: la Premiere Contient une Critique de Certains Post-Keynesiens, Notamment Americains, Concernant Leur Hypothese de la Rigidite du "Markup" Dans la Relation Prix-Salaires. Contrairement a Kalecki Qui Admettait Volontiers la Flexibilite du "Markup" Face a la...

This Paper Goes Against the Current That, When Price Ae Determined From a Markup, Labor Is the Main Cause for Inflation. It Will Be Shown on the Contrary That Capital, Under Its Physical Anf Financial Form, Is the Main Culprit for Inflation. the Main Hypothesis to Be Tested Is That in Time of...

The Chief Aim of This Paper Is to Show That My Previous Econometric Works Related to the Circuit of Capital, the Purpose of Which Was to Put Forward a Qualitative Theory of Inflation, Have Their Theoritical Foundation in Marx's Theory of the Circuit of Capital, As Explained in Book 2 of Capital....