South–MED countries are characterising by non-diversified economic structures. Some are heavily dependent on oil resources to support their economic growth and development; while others are relying disproportionately on real estate, tourism and low-value added export products. This makes them vulnerable to external economic conditions. Together with the wider geo-political situation of the region, which fuels economic uncertainty, this creates significant threats and problems, including with regard to trade deficits and the current account (external imbalances). The domestic political situation is also not conducive to economic stability. Governments in South–MED countries are rather centralised and often lack transparent and good-quality institutions. In the economic sphere, this contributes to exacerbating budget deficits and escalating government debts (internal imbalances). In conjunction, internal and external imbalances both reflect and reinforce the inability of these economies to climb up the value-added ladder, developing more competitive products and specialisations that will help them achieve more sustainable economic growth, balanced fiscal stances and trade account surpluses. Within this context, and largely in response to the new risks that emerged in the financial sphere, with regard to both internal and external imbalances, after the global financial crisis, government policies in the South–MED adopted – sometimes harsh – economic reform programmes as a way to stabilise their economies and manage the associated risks. Adjustment programmes, however, are socially painful and may also have adverse effects on the economy, thus increasing further the fragility of these economies and threatening a further deterioration of their external position. This raises two analytically interesting and, in policy terms, very pressing questions about, on the one hand, the extent and nature of internal and external imbalances in these countries and, on the other hand, the appropriateness of the adjustment policies that were pursued. This study provides an extensive analysis of these issues, focusing on the case of six South–MED countries, namely Algeria, Egypt, Jordan, Lebanon, Morocco and Tunisia. It examines in detail the internal and external imbalances of these countries, over the last three decades, both descriptively (through the use of graphs) and econometrically (through time-series econometric techniques). It subsequently reviews the range of adjustment programmes, austerity policies and other macro-economic adjustment mechanisms (e.g., exchange rate policies) that were deployed in these countries to deal with the internal and external threats to stability and, by reflecting on these two lines of research, it provides useful insights about the effectiveness and appropriateness of these policy responses in addressing the problem at hand.
{"title":"External and Internal Imbalances in South Mediterranean Countries","authors":"D. Abdou, V. Monastiriotis","doi":"10.2139/ssrn.3245188","DOIUrl":"https://doi.org/10.2139/ssrn.3245188","url":null,"abstract":"South–MED countries are characterising by non-diversified economic structures. Some are heavily dependent on oil resources to support their economic growth and development; while others are relying disproportionately on real estate, tourism and low-value added export products. This makes them vulnerable to external economic conditions. Together with the wider geo-political situation of the region, which fuels economic uncertainty, this creates significant threats and problems, including with regard to trade deficits and the current account (external imbalances). The domestic political situation is also not conducive to economic stability. Governments in South–MED countries are rather centralised and often lack transparent and good-quality institutions. In the economic sphere, this contributes to exacerbating budget deficits and escalating government debts (internal imbalances). In conjunction, internal and external imbalances both reflect and reinforce the inability of these economies to climb up the value-added ladder, developing more competitive products and specialisations that will help them achieve more sustainable economic growth, balanced fiscal stances and trade account surpluses. Within this context, and largely in response to the new risks that emerged in the financial sphere, with regard to both internal and external imbalances, after the global financial crisis, government policies in the South–MED adopted – sometimes harsh – economic reform programmes as a way to stabilise their economies and manage the associated risks. Adjustment programmes, however, are socially painful and may also have adverse effects on the economy, thus increasing further the fragility of these economies and threatening a further deterioration of their external position. This raises two analytically interesting and, in policy terms, very pressing questions about, on the one hand, the extent and nature of internal and external imbalances in these countries and, on the other hand, the appropriateness of the adjustment policies that were pursued. This study provides an extensive analysis of these issues, focusing on the case of six South–MED countries, namely Algeria, Egypt, Jordan, Lebanon, Morocco and Tunisia. It examines in detail the internal and external imbalances of these countries, over the last three decades, both descriptively (through the use of graphs) and econometrically (through time-series econometric techniques). It subsequently reviews the range of adjustment programmes, austerity policies and other macro-economic adjustment mechanisms (e.g., exchange rate policies) that were deployed in these countries to deal with the internal and external threats to stability and, by reflecting on these two lines of research, it provides useful insights about the effectiveness and appropriateness of these policy responses in addressing the problem at hand.","PeriodicalId":378721,"journal":{"name":"PSN: Other Comparative Capitalism (Topic)","volume":"12 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-09-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114770298","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This article presents an analysis based on a comparison of stationary states. With technology and relative markups among industries taken as exogenous, the long-period trade-off between wages and rates of profits is determined. A long-period change in relative markups among industries can create a switch point exhibiting capital-reversing. Around such a switch point, a higher wage is associated with firms wanting to employ more labor for a given net output – a favorable occurrence for organized labor.
{"title":"An Opportunity for the Working Class with Increased Markups","authors":"R. Vienneau","doi":"10.2139/ssrn.3217554","DOIUrl":"https://doi.org/10.2139/ssrn.3217554","url":null,"abstract":"This article presents an analysis based on a comparison of stationary states. With technology and relative markups among industries taken as exogenous, the long-period trade-off between wages and rates of profits is determined. A long-period change in relative markups among industries can create a switch point exhibiting capital-reversing. Around such a switch point, a higher wage is associated with firms wanting to employ more labor for a given net output – a favorable occurrence for organized labor.","PeriodicalId":378721,"journal":{"name":"PSN: Other Comparative Capitalism (Topic)","volume":"35 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-07-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126799555","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
In early 2018, Russian regions saw their socioeconomic status less problematic. However, none of them has reported sustainable development. Budgets have improved somewhat. Dynamics of income and expenditure less Moscow was rather moderate. Federal assistance is channeled to regions of geopolitical priority.
{"title":"Russian Regions in 2017 and Early 2018","authors":"N. Zubarevich","doi":"10.2139/ssrn.3176827","DOIUrl":"https://doi.org/10.2139/ssrn.3176827","url":null,"abstract":"In early 2018, Russian regions saw their socioeconomic status less problematic. However, none of them has reported sustainable development. Budgets have improved somewhat. Dynamics of income and expenditure less Moscow was rather moderate. Federal assistance is channeled to regions of geopolitical priority.","PeriodicalId":378721,"journal":{"name":"PSN: Other Comparative Capitalism (Topic)","volume":"29 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-05-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122486644","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The purpose of the article is to study the degree of coherence of the methods of calculating the operating profitability coefficients in the OECD countries and in Ukraine; the development of practical recommendations for the development of the system of indicators of operational profitability, suitable for comparative analysis at the international level (taking into account the specifics of domestic and international accounting practices). As a result of the study, there was a discrepancy in the names and methods of calculating the profitability of operational activities in the OECD countries and in Ukraine. Before conducting a comparative analysis of the profitability of Ukrainian and foreign enterprises, it is necessary to conduct a preliminary review of the methods of calculating the comparable indicators. Establishing a mutually unequivocal correspondence between the generally accepted international profitability ratios and the procedure for their calculation based on the reporting of National Accounting Standard of Ukraine, systematization of international and Ukrainian names will facilitate their convenient and correct application in comparative analytical work. If necessary, it is possible to use formulas expressing the functional dependence between the profitability coefficients, calculated on the basis of cost and income approaches. Traditionally, Ukrainian analysts are more likely to use cost-effectiveness (markup) indicators, while the foreign ones -- margin returns. Markup indicators always show a higher value for profitability than the margin returns. These indicators are functionally linked, so in the case of misconceptions, there is an opportunity to recalculate. Comparing the results of different companies' operations, it is necessary to take into account the specifics and scope of their activities. For example, the Berry Ratio is appropriate for analyzing distributor companies, and gross profit markup should be used in the analysis of manufacturing companies. Clarification of the advantages and disadvantages of individual profitability indicators will avoid their formal application; will contribute to a clearer and more complete explanation of the results.
{"title":"Проблеми формування системи порівнянних показників прибутковості підприємств країн-членів ОЕСР і України (Problems of Forming the System of Comparable Indicators of Profitability of Enterprises of OECD Member Countries and Ukraine)","authors":"Tatyana Chaika","doi":"10.22178/POS.33-9","DOIUrl":"https://doi.org/10.22178/POS.33-9","url":null,"abstract":"The purpose of the article is to study the degree of coherence of the methods of calculating the operating profitability coefficients in the OECD countries and in Ukraine; the development of practical recommendations for the development of the system of indicators of operational profitability, suitable for comparative analysis at the international level (taking into account the specifics of domestic and international accounting practices). As a result of the study, there was a discrepancy in the names and methods of calculating the profitability of operational activities in the OECD countries and in Ukraine. Before conducting a comparative analysis of the profitability of Ukrainian and foreign enterprises, it is necessary to conduct a preliminary review of the methods of calculating the comparable indicators. Establishing a mutually unequivocal correspondence between the generally accepted international profitability ratios and the procedure for their calculation based on the reporting of National Accounting Standard of Ukraine, systematization of international and Ukrainian names will facilitate their convenient and correct application in comparative analytical work. If necessary, it is possible to use formulas expressing the functional dependence between the profitability coefficients, calculated on the basis of cost and income approaches. Traditionally, Ukrainian analysts are more likely to use cost-effectiveness (markup) indicators, while the foreign ones -- margin returns. Markup indicators always show a higher value for profitability than the margin returns. These indicators are functionally linked, so in the case of misconceptions, there is an opportunity to recalculate. Comparing the results of different companies' operations, it is necessary to take into account the specifics and scope of their activities. For example, the Berry Ratio is appropriate for analyzing distributor companies, and gross profit markup should be used in the analysis of manufacturing companies. Clarification of the advantages and disadvantages of individual profitability indicators will avoid their formal application; will contribute to a clearer and more complete explanation of the results.","PeriodicalId":378721,"journal":{"name":"PSN: Other Comparative Capitalism (Topic)","volume":"30 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-04-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133519046","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This paper analyses for 34 OECD countries the extent to which the calculation of aggregate multi-factor productivity (MFP) is sensitive to alternative parameterisations. The starting point is the definition of MFP used in previous work in the OECD’s Economics Department (e.g. Johansson et al. 2013). They include alternative MFP measures, with human capital included or excluded, with different measures of Purchasing Power Parity (PPP) exchange rates, using time-varying capital depreciation rates and different measures of capital stock and labour input (headcount against hours worked). The main result of the paper is that whether or not human capital is included in MFP makes a significant difference for the level and dynamics of MFP. At the same time, MFP measures are less sensitive to other parameters of the calculation.
{"title":"Aggregate Multi-Factor Productivity: Measurement Issues in OECD Countries","authors":"Balázs Égert","doi":"10.1787/5C80FAF8-EN","DOIUrl":"https://doi.org/10.1787/5C80FAF8-EN","url":null,"abstract":"This paper analyses for 34 OECD countries the extent to which the calculation of aggregate multi-factor productivity (MFP) is sensitive to alternative parameterisations. The starting point is the definition of MFP used in previous work in the OECD’s Economics Department (e.g. Johansson et al. 2013). They include alternative MFP measures, with human capital included or excluded, with different measures of Purchasing Power Parity (PPP) exchange rates, using time-varying capital depreciation rates and different measures of capital stock and labour input (headcount against hours worked). The main result of the paper is that whether or not human capital is included in MFP makes a significant difference for the level and dynamics of MFP. At the same time, MFP measures are less sensitive to other parameters of the calculation.","PeriodicalId":378721,"journal":{"name":"PSN: Other Comparative Capitalism (Topic)","volume":"207 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-03-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123063408","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This paper introduces a new index of financial inclusion for 151 economies using principal component analysis to compute weights for aggregating nine indicators of access, availability, and usage. It then assesses the impact of financial inclusion on poverty and income inequality. The results provide evidence that high- and middle-high-income economies with high financial inclusion have significantly lower poverty, while no such relation exists for middle-low and low-income economies. The nonlinearities in the cross-country determinants and impacts of financial inclusion on poverty and income inequality across income groups are important to choosing the appropriate policies for achieving inclusive growth in different development stages.
{"title":"Financial Inclusion: New Measurement and Cross-Country Impact Assessment","authors":"Cyn‐Young Park, Rogelio V. Mercado","doi":"10.2139/ssrn.3199427","DOIUrl":"https://doi.org/10.2139/ssrn.3199427","url":null,"abstract":"This paper introduces a new index of financial inclusion for 151 economies using principal component analysis to compute weights for aggregating nine indicators of access, availability, and usage. It then assesses the impact of financial inclusion on poverty and income inequality. The results provide evidence that high- and middle-high-income economies with high financial inclusion have significantly lower poverty, while no such relation exists for middle-low and low-income economies. The nonlinearities in the cross-country determinants and impacts of financial inclusion on poverty and income inequality across income groups are important to choosing the appropriate policies for achieving inclusive growth in different development stages.","PeriodicalId":378721,"journal":{"name":"PSN: Other Comparative Capitalism (Topic)","volume":"108 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121947704","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Adam Smith, based on his knowledge of issues originally discussed by Plato (Socrates) and Aristotle, which were related to his own knowledge of how the Tulip Bubble, Mississippi Bubble and South Seas Bubble were created, recognized that problems of economic downturns, inflation and deflation could be directly traced to the economic behavior of three categories of economic decision maker, all of whom were members of the upper income class in an economic state. Adam Smith categorized these three types of economic decision makers as “projectors, imprudent risk takers and prodigals.” Essentially, all three types of economic decision makers in these categories attempted to make profits (money) without the production of any physical good or service. Such individuals attempted to use other people’s money, by leveraging their debt position to obtain bank loans, in order to manipulate the financial titles to physical assets so as to increase the value of the financial asset, irrespective of any increase in the actual underlying value physical asset. Bankers are particularly attracted to such economic decision makers plans because of the possibility of making very quick, short term profits. Any potential long term losses are simply ignored. Following Aristotle’s very advanced understanding of how money use or misuse can positively or negatively impact the macro economy, the goal of projectors, imprudent risk takers and prodigals is not C-M-C’, but M-C-M’ or M-M’. The latter two types of money use are purely speculative in nature. Smith concluded that these categories of individuals should not receive any access to bank loans since the long run results usually led to bank failure with resulting highly negative outcomes and impacts on the macro economy. Smith then contrasts these types of economic agents with individuals he terms the “sober” people. The “sober” people are middle class, small business owners who desire to obtain bank loans in order to expand their existing business and increase their access to needed resources to make and sell more products. These types of individual are using money in the manner, again pointed out by Aristotle, as being C-M-C’, to increase the amount of physical producer and consumer goods they could make in the future. Smith concluded that the great majority of bank credit and loans should be skewed toward these individuals, since this would lead to real economic growth, as opposed to the speculative, purely financial booms and busts engineered by, for instance, projectors such as John Law, Richard Cantillon or Andrew Dexter, Jr. early in the 18th and 19th Centuries. Smith conceived of the central bank as being independent of the private banking industry and the government. It could then enforce a policy of refusing to let private banks make loans to “projectors, imprudent risk takers and prodigals”, while simultaneously encouraging the granting of bank loans to the “sober” people. The contrast between a Mitt Romney type
{"title":"Modeling Adam Smith's Analysis of the Very Severe, Negative Impacts of 'Projectors, Imprudent Risk Takers and Prodigals' on the Macro Economy in the Wealth of Nations Using a Modified Lotka-Volterra Non Linear Coupled Model of Differential Equations","authors":"M. E. Brady","doi":"10.2139/SSRN.3053111","DOIUrl":"https://doi.org/10.2139/SSRN.3053111","url":null,"abstract":"Adam Smith, based on his knowledge of issues originally discussed by Plato (Socrates) and Aristotle, which were related to his own knowledge of how the Tulip Bubble, Mississippi Bubble and South Seas Bubble were created, recognized that problems of economic downturns, inflation and deflation could be directly traced to the economic behavior of three categories of economic decision maker, all of whom were members of the upper income class in an economic state. Adam Smith categorized these three types of economic decision makers as “projectors, imprudent risk takers and prodigals.” Essentially, all three types of economic decision makers in these categories attempted to make profits (money) without the production of any physical good or service. Such individuals attempted to use other people’s money, by leveraging their debt position to obtain bank loans, in order to manipulate the financial titles to physical assets so as to increase the value of the financial asset, irrespective of any increase in the actual underlying value physical asset. Bankers are particularly attracted to such economic decision makers plans because of the possibility of making very quick, short term profits. Any potential long term losses are simply ignored. Following Aristotle’s very advanced understanding of how money use or misuse can positively or negatively impact the macro economy, the goal of projectors, imprudent risk takers and prodigals is not C-M-C’, but M-C-M’ or M-M’. The latter two types of money use are purely speculative in nature. Smith concluded that these categories of individuals should not receive any access to bank loans since the long run results usually led to bank failure with resulting highly negative outcomes and impacts on the macro economy. \u0000Smith then contrasts these types of economic agents with individuals he terms the “sober” people. The “sober” people are middle class, small business owners who desire to obtain bank loans in order to expand their existing business and increase their access to needed resources to make and sell more products. These types of individual are using money in the manner, again pointed out by Aristotle, as being C-M-C’, to increase the amount of physical producer and consumer goods they could make in the future. Smith concluded that the great majority of bank credit and loans should be skewed toward these individuals, since this would lead to real economic growth, as opposed to the speculative, purely financial booms and busts engineered by, for instance, projectors such as John Law, Richard Cantillon or Andrew Dexter, Jr. early in the 18th and 19th Centuries. \u0000Smith conceived of the central bank as being independent of the private banking industry and the government. It could then enforce a policy of refusing to let private banks make loans to “projectors, imprudent risk takers and prodigals”, while simultaneously encouraging the granting of bank loans to the “sober” people. \u0000The contrast between a Mitt Romney type","PeriodicalId":378721,"journal":{"name":"PSN: Other Comparative Capitalism (Topic)","volume":"50 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-10-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114481539","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The election of Donald Trump has been a jarring shock to the American political system. In this paper, I argue that to fully explain the political cleavages driving his victory, and populist trends more broadly, political scientists need to better understand the interaction between material circumstances and cultural identity, rather than seeing them as separate. I begin with the observation that post-industrial transformations have produced a starkly divided economic geography in the US, with cities growing ever more vibrant and rural areas dramatically declining across a variety of important indicators. Although this transformation is widely acknowledged, left unexplored is the impact that this spatial differentiation between regions has on the cultural construction of political cleavages. I propose that the material reality of this pattern of economic activity has generated cultural class bubbles that underlie today’s political polarization. Drawing on the practice turn in political science, I offer an argument about culture as everyday lived experience. This argument helps better account for how economic change translates through culture and identity to become manifest in new political cleavages.
{"title":"Explaining the New Class Cleavages: Geography, Post-Industrial Transformations and Everyday Culture","authors":"K. McNamara","doi":"10.2139/SSRN.3059222","DOIUrl":"https://doi.org/10.2139/SSRN.3059222","url":null,"abstract":"The election of Donald Trump has been a jarring shock to the American political system. In this paper, I argue that to fully explain the political cleavages driving his victory, and populist trends more broadly, political scientists need to better understand the interaction between material circumstances and cultural identity, rather than seeing them as separate. I begin with the observation that post-industrial transformations have produced a starkly divided economic geography in the US, with cities growing ever more vibrant and rural areas dramatically declining across a variety of important indicators. Although this transformation is widely acknowledged, left unexplored is the impact that this spatial differentiation between regions has on the cultural construction of political cleavages. I propose that the material reality of this pattern of economic activity has generated cultural class bubbles that underlie today’s political polarization. Drawing on the practice turn in political science, I offer an argument about culture as everyday lived experience. This argument helps better account for how economic change translates through culture and identity to become manifest in new political cleavages.","PeriodicalId":378721,"journal":{"name":"PSN: Other Comparative Capitalism (Topic)","volume":"4 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-08-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114034298","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Historical essay about the career and work of Jose da Silva Lisboa, who, as a Brazilian born Portuguese subject, first read, translated, improved the works of Adam Smith for a Portuguese and Brazilian public. He held important posts as a high official of the Portuguese Crown, and after the Independence, a member of the Brazilian Parliament. Most important of his published works is "Principles of Political Economy", which is an adapted version of Adam Smith's most important thesis, improved over Smithian conception of "productive factors", adding the "knowledge" or "intelligence" element. Later he was given the title of Viscount of Cairu, and as such became the patron of the Brazilian economists.
关于Jose da Silva Lisboa的职业生涯和工作的历史论文，Jose da Silva Lisboa作为巴西出生的葡萄牙人，首先为葡萄牙和巴西公众阅读，翻译，改进了亚当·斯密的作品。他担任葡萄牙王室高级官员等重要职务，并在独立后担任巴西国会议员。他出版的最重要的著作是《政治经济学原理》(Principles of Political economics)，改编自亚当•斯密(Adam Smith)最重要的论点，改进了斯密的“生产要素”概念，增加了“知识”或“智力”元素。后来，他被授予凯鲁子爵的头衔，并因此成为巴西经济学家的赞助人。
{"title":"A Brazilian Adam Smith: Cairu as the Founding Father of Political Economy in Brazil at the Beginning of the 19th Century","authors":"P. Almeida","doi":"10.2139/ssrn.3181322","DOIUrl":"https://doi.org/10.2139/ssrn.3181322","url":null,"abstract":"Historical essay about the career and work of Jose da Silva Lisboa, who, as a Brazilian born Portuguese subject, first read, translated, improved the works of Adam Smith for a Portuguese and Brazilian public. He held important posts as a high official of the Portuguese Crown, and after the Independence, a member of the Brazilian Parliament. Most important of his published works is \"Principles of Political Economy\", which is an adapted version of Adam Smith's most important thesis, improved over Smithian conception of \"productive factors\", adding the \"knowledge\" or \"intelligence\" element. Later he was given the title of Viscount of Cairu, and as such became the patron of the Brazilian economists.","PeriodicalId":378721,"journal":{"name":"PSN: Other Comparative Capitalism (Topic)","volume":"38 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-08-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127032231","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
In this paper, first, the MIMIC estimation method is described and criticized and due to a double counting problem a correction is suggested. Second, the measurement methods used for National Accounts Statistics – the discrepancy method and two new micro survey methods – are described and a third, a micro method, using a combination of company manager surveys and their knowledge to calibrate the size of the shadow economy in firms, is presented, too. Third, a detailed comparison of the four micro estimation methods with the MIMIC and the corrected MIMIC method are presented. One major result is that the corrected MIMIC method, especially, comes quite close to various types of lately developed micro survey methods.
{"title":"Implausible Large Differences in the Sizes of Underground Economies in Highly Developed European Countries? A Comparison of Different Estimation Methods","authors":"F. Schneider","doi":"10.2139/ssrn.2999761","DOIUrl":"https://doi.org/10.2139/ssrn.2999761","url":null,"abstract":"In this paper, first, the MIMIC estimation method is described and criticized and due to a double counting problem a correction is suggested. Second, the measurement methods used for National Accounts Statistics – the discrepancy method and two new micro survey methods – are described and a third, a micro method, using a combination of company manager surveys and their knowledge to calibrate the size of the shadow economy in firms, is presented, too. Third, a detailed comparison of the four micro estimation methods with the MIMIC and the corrected MIMIC method are presented. One major result is that the corrected MIMIC method, especially, comes quite close to various types of lately developed micro survey methods.","PeriodicalId":378721,"journal":{"name":"PSN: Other Comparative Capitalism (Topic)","volume":"97 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-06-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123143924","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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