This paper employs the behavioral equilibrium exchange rate (BEER) model to estimate the equilibrium real exchange rate of Renminbi (RMB) and the exchange rate misalignment in China, which covers the period from 1994q1 to 2006q2. Using the most precise and recent data, the main findings of the...

The European economic integration has been an ongoing process for nearly a half century. This article discuss initially the concept of integration and then gives an overall assessment of the development of integration on various areas. Evidence points to a remarkable process towards monetary...

Despite still being younger than a decade, the theory of multisided market has offered numerous valuable insights for the analysis of industries in which a supplier serves two distinct customer groups that are indirectly interrelated by externalities. Examples include payment systems, matching...

Med marginalismens gennembrud i 1870’erne (Jevons, Walras og Menger) sættes det klassisk økonomiske paradigme under pres. Også i Danmark rejser kritiske røster sig imod den klassiske ortodoksi. I Samfundsspørgsmaal fra 1885 giver således eksempelvis Ernst Brandes en kritisk belysning af...

Kjeld Philip er kendt som såvel fagøkonom som politiker. I den brede offent-lighed nok mest i den sidste sammenhæng som en radikal minister i slutningen af 1950’erne og begyndelsen af 1960’erne. Blandt fagfæller er Philip dels kendt som en tidlig dansk bidragsyder til det gryende...

Throughout all his life Karl Marx wrote angrily about capitalism. By use of a dialectic approach he was convinced that the working class had to unite and make a social revolution and thereby free them selves from exploitation. Marx himself was in many ways a dialectic person as we try to show in...

Game-theoretic fisheries models typically consider cases where some players harvest a single common fish stock. It is, however, the case that these types of models do not capture many real world mixed fisheries, where species are bio-logical independent or dependent. The present paper considers...

Both Barrett (1991) and Hoel (1991) show that uniform solutions cannot guarantee that the IR constraint is satisfied. This drawback of uniform solutions dramatically reduces feasibility of uniform solutions. However, when uniform reductions are property specified, this conclusion is no longer...

The EU regulation of fisheries is decided in two levels. The level of the total allowable catch (TAC) for the most important species is decided every year by the Council of Minsters. The TACs are allocated to the Member States as quotas. The Member States determine who is going to harvest the...