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This paper studies the effects of a path change in government debt composition and aggregate transfers on allocations and prices. It is shown that the effects are zero under some agent-specific transfer scheme even when markets are incomplete. If markets are complete, then the effects are zero...
Persistent link: https://www.econbiz.de/10014210995
Parguez and Jean Gabriel Bliek in support of their idea of assigning a full employment objective to European economic policies … economic policies, in particular in the field of employment. Together with the previous article, it shows that the circuit can …
Persistent link: https://www.econbiz.de/10008554100
In two recent contributions Alain Parguez and Jean-Gabriel Bliek argued in favour of assigning a full employment … based on the approach of the monetary circuit, whose treatment of full employment is the object of this article. The …
Persistent link: https://www.econbiz.de/10008554147
In static general equilibrium models considering imperfectly competitive goods markets, the effectiveness of fiscal policy to stir output is shown to be greater than in the walrasian case. However, labour is the only input in these models. Here, 1 develop a simple intertemporal model allowing us...
Persistent link: https://www.econbiz.de/10005463723
The arrow-of-time phenomena are everywhere in the physical world, biological systems, and human society. Despite its great importance in physics, the second law of thermodynamics can only successfully explain small percentages of these arrow-of-time phenomena in the physical world, and generally...
Persistent link: https://www.econbiz.de/10011110385
Are financial markets predictable? How to predict the financial markets? These important questions are not answerable in the existing framework of either finance or economics. This paper shows in details that these questions are also not answerable in the existing framework of modern physics. In...
Persistent link: https://www.econbiz.de/10011113488
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Persistent link: https://www.econbiz.de/10010382609
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The tourism cross border cooperation is an integrated model of this type of cooperation, as it is situated at a common … territorial planning strategies but also by cultural manifestations. The tourism field of activity, within regional or local cross …. While stating this, we bear in mind the fact that the tourism influence is complex at an economic, social but also cultural …
Persistent link: https://www.econbiz.de/10011512777