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The recycling problem in a currency union

Krimpas, G. E. - 2010

oligopoly, may be taken as merely heuristic. -- Keynes ; economic theory ; international payments ; jistory of thought …

Persistent link: https://www.econbiz.de/10003974903

Is there room for bulls, bears, and states in the circuit?

Wray, L. Randall - 2011

John Maynard Keynes's liquidity preference theory, Kregel argued that such rejection leaves the relation between money and … capital asset prices, and thus investment theory, hanging. This paper extends Kregel's analysis to an examination of the role … requires an extension of the circuit theory of money, along the lines of the credit and state money approaches of modern …

Persistent link: https://www.econbiz.de/10009523597

Economic ideas, the monetary order and the uneasy case for policy rules

Laidler, David E. W. - 2016

The problems posed by monetary policy cannot be dealt with by legislating enduring policy rules. With the passage of time, economic understanding does not systematically converge ever more closely on a "true" model of the economy, a process which is now sufficiently far along that our current...

Persistent link: https://www.econbiz.de/10011532144

Mark Blaug on the quantity theory : a skirmish on the border between science and politics in the history of economic thought

Laidler, David E. W. - In: Today's standards and yesterday's economics - two short …, (pp. 8-12). 2012

about the Quantity Theory of Money, but he hesitated to probe too deeply into the political and ideological elements of its … history, perhaps leading him to underestimate their importance for the theory's evolution. -- money ; Quantity theory ; value … theory ; positive economics ; empiricism ; formalism ; bimetallism ; gold standard ; monetarism …

Persistent link: https://www.econbiz.de/10009671724

Known knowns and known unknowns of immigrant self-employment : selected issues

Nestorowicz, Joanna - 2011 - Second version: March 23rd 2011

The paper presents a review of selected definitional issues, theoretical concepts and most recent empirical evidence related to the phenomenon of immigrant self-employment. Based on the appraisal of gathered material it also points to possible areas of development of future research in the...

Persistent link: https://www.econbiz.de/10008934638

The interactive evolution of economic ideas and experience : the case of Canadian inflation targeting

Laidler, David E. W. - 2015

In Canada, targeting the inflation rate was intended as a temporary measure on a journey to price-level stability, but became a well-established monetary policy regime in its own right. This paper analyses the role of the interaction of economic ideas with the experience generated by their...

Persistent link: https://www.econbiz.de/10011294097

Why Markets Do Not Fail. Buchanan on Voluntary Cooperation and Externalities

Marciano, Alain - 2010

During the 1950s and 1960s, many economists were convinced that externalities were a cause of "market failures" -- because individuals are not capable of internalizing the costs their actions impose to others -- and therefore that the intervention of the state was necessary to allow an efficient...

Persistent link: https://www.econbiz.de/10013135502

Who Invented the Lerner Index? Luigi Amoroso, the Dominant Firm Model and the Measurement of Market Power

Giocoli, Nicola - 2012

Elzinga & Mills (2011) trace the origin of the price/cost margin (P-MC)/P commonly used as an index of monopoly power in Abba Lerner's famous 1934 essay in the Review of Economic Studies. They also ascribe to Landes & Posner (1981) the more general version of the index for the case of a dominant...

Persistent link: https://www.econbiz.de/10013113421

Scientific Norms and the Values of Economists : The Case of Priority Fights in Economics

Hands, D. Wade - 2011

to be convincing evidence that individuals exposed to economic theory behave less cooperatively and more self …

Persistent link: https://www.econbiz.de/10013121033

Internal vs. External Explanations : A New Perspective on the History of Economic Thought

Block, Walter E. - 2011

The present paper is devoted to showing that all externalist explanations for truth in economics are false, but that if there any are used, it should not be the democratic one utilized by Rosen (1997). Rather, even though it is equally fallacious, it should the one proposed in the present paper:...

Persistent link: https://www.econbiz.de/10013121849