We compute average mark-ups as a measure of market power throughout time and study their interaction with fiscal policy and macroeconomic variables in a VAR framework. From impulse-response functions the results, with annual data for a set of 14 OECD countries covering the period 1970-2007, show...

This volume – Predicting Crisis: Five Essays on the Mathematic Prediction of Economic and Social Crises – is the first of three sets of essays. In this first set the economic and social history of the United States is shown to be a “system of movement,” i.e. a logical and mathematic...

In this note, we consider a multisector macroeconomic model under oligopolistic competition. We analyze the effect of an increase of the number of sectors on equilibrium price and on allocations, when the number of oligopolits of each type is constant. We also show that a tax policy has more...

This paper shows that in macroeconomic models of product differentiation that are built on CES utility specifications the widely used assumption of approximating cross price effects to zero, (since Dixit-Stiglitz 1979), plays indeed no crucial role. This is true not only when a large number of...

We compute average mark-ups as a measure of market power throughout time and study their interaction with fiscal policy and macroeconomic variables in a VAR framework. From impulse-response functions the results, with annual data for a set of 14 OECD countries covering the period 1970-2007, show...

In this note, we consider a multisector macroeconomic model under oligopolistic competition. We analyze the effect of an increase of the number of sectors on equilibrium price and on allocations, when the number of oligopolits of each type is constant. We also show that a tax policy has more...

The present paper concerns the microeconomic basis for the macroeconomic demand constraint in the form of the Keynesian demand price constraint: taking Say into account denoted by the extended Keynesian demand price constraint. Price flexibility at a scale sufficient for the working of the...

We compute average mark-ups as a measure of market power throughout time and study their interaction with fiscal policy and macroeconomic variables in a VAR framework. From impulse-response functions the results, with annual data for a set of 14 OECD countries covering the period 1970-2007, show...

We compute average mark-ups as a measure of market power throughout time and study their interaction with fiscal policy and macroeconomic variables in a VAR framework. From impulse-response functions the results, with annual data for a set of 14 OECD countries covering the period 1970-2007, show...

We show how to use a simple perturbation method to solve non-linear rational expectation models. Drawing from the applied mathematics literature we propose a method consisting of series expansions of the non-linear system around a known solution. The variables are represented in terms of their...