There are many economists who argue that temporary tax cuts, like those in the 2009 stimulus and the ones proposed by President Obama last week, have no impact on the economy. They argue that people will save a temporary tax credit rather than spend it. Stanford Economics Professor John Taylor,...

Say has shown that there is no amount of capital which may not be employed in a country. Such a proposal does not involve the absence of unemployment and crisis. The markets may be glutted. In his first writings, Say advanced that whenever there is a superabundance of several sorts of...

Resumen Este artículo plantea una visión crítica, desde la perspectiva de la economía evolutiva de la innovación, acerca de la forma como la teoría económica ha venido tratando el tema de la Empresa a partir de las formulaciones marshallianas (neoclásicas). Aspectos fundamentales del...

En este trabajo, se hace una reflexión en torno al concepto de tasa natural de desempleo y de la NAIRU a partir del debate sobre la relación entre inflación y desempleo. Se hace un análisis de la evolución del concepto de la curva de Phillips en las últimas décadas, al mismo tiempo se...

The educational system is one of the important factors in creating and developing the competitive forces of a country. The higher education provides the socio-economic environment with two basic services: teaching and research. The duality marks an entire history for higher education, but...

Recent estimates of the U.S. economic gains that would result from the proposed Trans-Pacific Partnership (TPP) are very small — only 0.13 percent of GDP by 2025. Taking into account the un-equalizing effect of trade on wages, this paper finds the median wage earner will probably lose as a...

This monograph studies the fastest-growing economic categories of «financial capital», which recently is very important in all spheres of modern social development. The publication is addressed to researchers, lecturers, post-graduates and students of economic specialties.

In this study, we evaluate the impact of R&D intensity on acquiring firms’ abnormal returns by examining 925 Canadian completed deals between 1993 and 2002 that have information on R&D expenditures. While examining the returns to acquiring firm shareholders in the R&D intensive firms we...

Current integration and co-movement among international stock markets has been boosted by increased globalization of the world economy, and profit-chasing capital surfing across borders. With a reputation as the fastest growing economy in the world, China’s stock market has continued gaining...

We examine the impact of demutualization announcements by 13 life insurance companies during 1996-2000 on the value of existing stock-owned life insurance companies and companies in other segments of the insurance industry. Demutualization announcements are associated with negative stock price...