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Uncertainty and contradiction : an essay on the business cycle
Nikiforos, Michalis - 2013
This paper presents a discussion of the forces at play behind the economic fluctuations in the medium run and their relation with the short-run macroeconomic equilibrium. The business cycle is the result of two separate phenomena. On the one hand, there is the instability caused by the...
Persistent link: https://www.econbiz.de/10009773474
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Investment, financial markets, and uncertainty
Arestis, Philip; González, Ana Rosa; Dejuán, Óscar - 2012
This paper provides a theoretical explanation of the accumulation process, which accounts for the developments in the financial markets over the recent past. Specifically, our approach is focused on the presence of correlations between physical and financial investment, and how the latter could...
Persistent link: https://www.econbiz.de/10009783516
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Investment, Financial Markets, and Uncertainty
Arestis, Philip - 2012
This paper provides a theoretical explanation of the accumulation process, which accounts for the developments in the financial markets over the recent past. Specifically, our approach is focused on the presence of correlations between physical and financial investment, and how the latter could...
Persistent link: https://www.econbiz.de/10013096197
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Uncertainty, the Liquidity Trap and Social Insurance
Mericle, David - 2012
This paper reframes the standard liquidity trap model by capturing the costly feedback loop between idiosyncratic risk and aggregate demand at the zero lower bound. I first show that a liquidity trap can result from excess demand for precautionary savings in times of high uncertainty. The model...
Persistent link: https://www.econbiz.de/10013104622
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Two Invisible Hands and Optimal Uncertainty
Krumbein, Jack - 2012
In order for velocity of capital to be maximized, there has to be an optimal level of uncertainty in the market. This paper shows the role of state tort law in relationship to competition law and circulation of capital. If the ultimate goal is to experience the highest level of efficient use of...
Persistent link: https://www.econbiz.de/10013108111
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To Be or Not to Be (In) : The International Economic Effects of Brexit Uncertainty
Makrychoriti, Panagiota - 2020
This paper evaluates the impact of Brexit-related uncertainty on the economies of the UK, EU, and the US. We propose a measure of Brexit uncertainty that has not been employed before in the literature. We first construct a binary variable by listing and selecting Brexit-related events according...
Persistent link: https://www.econbiz.de/10012843218
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Keynesian Uncertainty Can Only Be Represented by Imprecise, Non Additive, Interval Valued Probability or Decision Weights Like Keynes’s C : Ordinal Probability Can’t Represent Keyn...
Brady, Michael Emmett - 2020
J M Keynes's two logical relations of rational degree of probability, α, 0≤α≤1 and Evidential Weight of the Argument, w … probability, although Keynes's theory of probability can easily deal with ordinal probability with the aid of Keynes's principle … additive interval estimate of probability or by a decision weight, like Keynes's original, path breaking innovation of his …
Persistent link: https://www.econbiz.de/10012843351
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The Impact of the Risk on the Profitability of Farm's Best Berhad
Firdaus, Athirah - 2017
The purpose of this study is to determine Farm's Best Berhad overall performance with the specific risk factors including macroeconomic factor relative to the profitability performance. Farm's Best Berhad annual report data are gathered from the year 2011 until 2015. There are several...
Persistent link: https://www.econbiz.de/10012959002
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The 'Uncertainty' Fraud : Joan Robinson, G. L. S. Shackle and Paul Davidson's Sleight of Hand Change of Keynes's Uncertainty Definition in the General Theory
Brady, Michael Emmett - 2017
J. M. Keynes gave an exac ... …
Persistent link: https://www.econbiz.de/10012943801
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J M Keynes’s Range Definition of Uncertainty (Uncertainty Ranges From Complete Knowledge to Complete Ignorance) Versus the Post Keynesian (Joan Robinson, P. Davidson, G. Shackle) B...
Brady, Michael Emmett - 2019
J M Keynes's definition o ... …
Persistent link: https://www.econbiz.de/10012869446