Free market economy: Is the market or prices free? Theory and evidence from the United States

IF 0.9 4区经济学 Q3 ECONOMICS American Journal of Economics and Sociology Pub Date : 2023-05-11 DOI:10.1111/ajes.12513

Rıdvan Karacan, Mehmet Emin Yardımcı

引用次数: 0

Abstract

Global price increases have reached their highest levels in recent times. Finding the reasons for the price increase is very important for economic stabilization. In this paper, it has been estimated that exorbitant price increases may be related to a free market economy. For this purpose, unlike other studies, a comparative analysis of the impact of the free market economy on prices was conducted. The study covers the period 1990–2020, and using the U.S. economy, which is a free market economy, the relationship between property rights, the size of government in the economy, and prices were examined using the autoregressive distributed lag model. The results show that the free market model has a positive effect on the price increase, while the size of the government's economy does not affect the price increase in the same direction. This study aims to provide a different perspective to policymakers in the fight against price instability, which is one of the most important problems facing the economy.

查看原文

微信好友朋友圈 QQ好友复制链接

本刊更多论文

自由市场经济：市场还是价格是自由的？来自美国的理论和证据

全球物价上涨已达到近期最高水平。找到价格上涨的原因对于稳定经济非常重要。本文估计，物价上涨过快可能与自由市场经济有关。为此，与其他研究不同，本文对自由市场经济对物价的影响进行了比较分析。研究时间跨度为 1990-2020 年，以自由市场经济的美国经济为研究对象，利用自回归分布滞后模型研究了产权、政府在经济中的规模与物价之间的关系。结果显示，自由市场模式对物价上涨有正向影响，而政府经济规模对物价上涨的影响方向并不相同。价格不稳定是经济面临的最重要问题之一，本研究旨在为政策制定者提供一个不同的视角来应对价格不稳定问题。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

求助全文

约1分钟内获得全文去求助

来源期刊

American Journal of Economics and Sociology Multiple-

CiteScore

1.90

自引率

12.50%

发文量

期刊介绍： The American Journal of Economics and Sociology (AJES) was founded in 1941, with support from the Robert Schalkenbach Foundation, to encourage the development of transdisciplinary solutions to social problems. In the introduction to the first issue, John Dewey observed that “the hostile state of the world and the intellectual division that has been built up in so-called ‘social science,’ are … reflections and expressions of the same fundamental causes.” Dewey commended this journal for its intention to promote “synthesis in the social field.” Dewey wrote those words almost six decades after the social science associations split off from the American Historical Association in pursuit of value-free knowledge derived from specialized disciplines. Since he wrote them, academic or disciplinary specialization has become even more pronounced. Multi-disciplinary work is superficially extolled in major universities, but practices and incentives still favor highly specialized work. The result is that academia has become a bastion of analytic excellence, breaking phenomena into components for intensive investigation, but it contributes little synthetic or holistic understanding that can aid society in finding solutions to contemporary problems. Analytic work remains important, but in response to the current lop-sided emphasis on specialization, the board of AJES has decided to return to its roots by emphasizing a more integrated and practical approach to knowledge.

期刊最新文献

Issue Information Issue Information Supply chain digitalization and corporate ESG performance Configurational paths of entrepreneurial activity: An analysis based on the technology–organization–environment framework Digital financial inclusion, rural consumption and economic growth in China