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  • 1
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Publishing Ltd
    Metroeconomica 29 (1977), S. 0 
    ISSN: 1467-999X
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Type of Medium: Electronic Resource
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  • 2
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Publishing Ltd
    Metroeconomica 29 (1977), S. 0 
    ISSN: 1467-999X
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: It is proved in this paper that in a non-joint production system of Leontief type which allows the simultaneous operation of multiple activities for each commodity production there exist unique labour values of commodities defined as the best minimal labour contents and the so-called fundamental Marxian theorem can be verified and extended. An appendix studies a generalization of Hawkins-Simon conditions in our framework.
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  • 3
    ISSN: 1467-999X
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: The first part of the paper deals with the effects of an exogenous variation in the monetary interest rate on the real equilibrium position of the economic system in a Kaleckian effective demand model. Different regimes of accumulation are derived and it is shown that a negative relation between the interest rate and the equilibrium rates of capacity utilization, accumulation and profit usually expected in post-Keynesian theory only exists under special conditions. In the second part the model is applied to the data of some major OECD countries, the relevant coefficients are estimated and the relevance for an explanation of the course of GDP and capital stock growth since the early 1960s is discussed.
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  • 4
    Electronic Resource
    Electronic Resource
    Oxford, UK and Boston, USA : Blackwell Publishing Ltd
    Metroeconomica 54 (2003), S. 0 
    ISSN: 1467-999X
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: This paper presents a model of the labour market with a contract and a spot market sector. Contracts are binding and enforceable, but unemployed contract workers are free to work in the spot market. The contracting wage is shown to be constant across states. A non-trivial result shows that the spot market wage is increasing with product price. An increase in product price has an ambiguous effect on contract employment. An increase in unemployment benefits increases the contracting sector wage whilst stabilizing the spot market wage, and may have ambiguous effects on unemployment.
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  • 5
    Electronic Resource
    Electronic Resource
    Oxford, UK and Boston, USA : Blackwell Publishing Ltd
    Metroeconomica 54 (2003), S. 0 
    ISSN: 1467-999X
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Type of Medium: Electronic Resource
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  • 6
    Electronic Resource
    Electronic Resource
    Oxford, UK and Boston, USA : Blackwell Publishing Ltd
    Metroeconomica 54 (2003), S. 0 
    ISSN: 1467-999X
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: In this paper we investigate the dynamic interaction between economic growth, unemployment, income distribution and population growth. The reference framework combines rational behaviour of agents with endogenous fertility and unemployment, while profits are the determinant of the accumulation of firms. In particular the supply of labour is determined by the micro-founded fertility choices of individuals. We first demonstrate, consistently with the empirical evidence, the existence of a positive income growth trend with sustained oscillations, therefore providing an alternative explanation of the relation between growth and cycle. Moreover interesting results are given on the relation between unemployment and growth. So far the literature has traditionally shown a negative relation between unemployment and growth (with the exception of the positive relation arising in a Schumpeter ‘creative’ disruption context). In contrast, we find a twofold effect of unemployment (via its effects on population) on economic growth: this can be both positive or negative depending on the relative level of the cost of childrearing of employed and unemployed persons, and on the level of unemployment benefits. This allows us to argue that an increase in unemployment benefit—as has occurred in recent years in many countries such as France and Spain—could lead to wide demo-economic fluctuations and to a positive effect of unemployment on economic growth.
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  • 7
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Publishing Ltd
    Metroeconomica 27 (1975), S. 0 
    ISSN: 1467-999X
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: In recent years a number of authors have considered a variety of expectations assumptions in analyzing the stability of oligopoly. In this paper it is assumed that an oligopolist has a probability distribution for its competitors'outputs. This ≪ nondogmatic conjectures ≫ approach enables us to determine: (1) which of the stability results are not dependent on the expectation assumption made and (2) how the expectation assumptions themselves affect the stability results.
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  • 8
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Publishing Ltd
    Metroeconomica 27 (1975), S. 0 
    ISSN: 1467-999X
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Type of Medium: Electronic Resource
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  • 9
    ISSN: 1467-999X
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Type of Medium: Electronic Resource
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  • 10
    Electronic Resource
    Electronic Resource
    Oxford, UK : Blackwell Publishing Ltd
    Metroeconomica 27 (1975), S. 0 
    ISSN: 1467-999X
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: The present paper differs from previous works since it is concerned with the conditions under which commodities are grouped in separable utility functions. The conditions are derived theoretically and then tested empirically. This provides a solid basis under which commodities can he properly grouped without employing an a priori reasoning process that could result in misspecification of the utility function. The conditions are derived and tested for three principal types of separable utility functions: utility tree, block additivity, and additivity. In the case of directly additive utility functions, the goods are treated as Hicksian composite commodities rather than specific goods. The general conditions for grouping apply to directly additive functions so that each composite commodity is treated as belonging to a separate subset. The data for commodity expenditure in constant dollars and prices of commodities are taken from The National Income and Product Accounts of the United States, 1929–1965, Statistical Tables, Table 2.6 and Table 8.6 respectively. The conditions necessary for specification of the commodity subsets are derived from the properties of each Separability situation and are empirically tested in an iterative fashion similar to the cochranc-orcutt autoregressive technique.
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