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The making of a dissenting economist: Amit Bhaduri (1940-) 一位持不同意见的经济学家的成就:阿米特·巴杜里(1940-)
IF 0.7 Q2 Social Sciences Pub Date : 2019-11-11 DOI: 10.13133/2037-3643_72.290_1
A. Bhaduri
The paper surveys the author’s research from a personal and autobiographic perspective. The author highlights the political interest and motivations behind the study of economics, as well as discusses some political consequence of economic research. The article focuses on the authors’ contributions on growth, development, and the Indian economy and society. JEL codes : B31, E12, O11
本文从个人和自传的角度对作者的研究进行了考察。作者强调了经济学研究背后的政治利益和动机,并讨论了经济学研究的一些政治后果。这篇文章的重点是作者对增长、发展以及印度经济和社会的贡献。JEL代码:B31、E12、O11
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引用次数: 0
Rising wage differential between white-collar and blue-collar workers and market concentration: The case of the USA, 1964-2007 白领和蓝领工人工资差距扩大与市场集中度:以1964-2007年美国为例
IF 0.7 Q2 Social Sciences Pub Date : 2019-11-11 DOI: 10.13133/2037-3643_72.290_4
Ilhan Dögüs
I suggest that market concentration at aggregate level has a significant structural impact on the wage differential between white-collar and blue-collar workers. Both phenomena are increasing as larger firms are more inclined to employ and pay more white-collar workers, in order to increase and/or maintain their market share by way of innovative tasks carried out by white-collars such as R&D, design and product differentiation, financial/capital market operations, market research, advertising and sales operations, etc. The causality from market concentration to wage differential runs through an effective demand channel and one based on the diffusion of innovations. The innovative contribution of the paper is to reveal this relationship of structural causality, and to provide a new measurement of aggregate market concentration which is calculated as the reverse of the break-even point. The argument is tested for the case of the USA between 1964 and 2007 using Vector Error Correction Model. The findings confirm the existence of a long-run positive relationship from market concentration in the nonfinancial corporate sector to the wage differential. JEL codes : L1, D4, J31
我认为市场集中度在总水平上对白领和蓝领工人的工资差异有显著的结构性影响。这两种现象都在增加,因为大公司更倾向于雇佣和支付更多的白领工人,以增加和/或保持他们的市场份额,通过创新的任务,由白领进行,如研发,设计和产品差异化,金融/资本市场操作,市场研究,广告和销售业务等。从市场集中度到工资差异的因果关系是通过一个有效的需求渠道和一个基于创新扩散的渠道来实现的。本文的创新之处在于揭示了这种结构性因果关系,并提供了一种新的衡量总市场集中度的方法,该方法是根据盈亏平衡点的反向计算的。本文以1964年至2007年美国为例,利用向量误差修正模型对上述论点进行了检验。研究结果证实,非金融企业部门的市场集中度与工资差异之间存在长期正相关关系。JEL代码:L1, D4, J31
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引用次数: 3
On foreign direct investments and the balance of payments constrained growth model in Latin America, 1990-2014 1990-2014年拉丁美洲外国直接投资和国际收支受限增长模式
IF 0.7 Q2 Social Sciences Pub Date : 2019-11-11 DOI: 10.13133/2037-3643_72.290_3
Douglas Alencar, Eduardo Strachman, L. Barbosa, C. Puty
The aim of this work is to identify whether there was a relationship between foreign direct investment (FDI) and long-term growth in Latin America from 1990 to 2014. Some authors have questioned whether FDI and other capital flows, besides current account results, could constrain economic growth. If FDI and other capital flows are staunched and this is accompanied by capital outflows originated from FDI in previous periods, then it would be possible to experience a balance of payments constraint to economic growth. To test this hypothesis, we slightly amend the Thirlwall and Hussain model and employ the McCombie test for the cases of Brazil, Mexico, and Argentina. We find that the negative effect of primary income remittances on FDI, and even capital inflows through FDI, may curbs growth in the long run. JEL codes : E12
这项工作的目的是确定1990年至2014年拉丁美洲的外国直接投资与长期增长之间是否存在关系。一些作者质疑,除了经常账户结果外,外国直接投资和其他资本流动是否会限制经济增长。如果外国直接投资和其他资本流动被阻止,并且伴随着前一时期外国直接投资产生的资本外流,那么就有可能出现国际收支对经济增长的制约。为了验证这一假设,我们对Thirlwall和Hussain模型进行了轻微修正,并对巴西、墨西哥和阿根廷的情况采用了McCombie检验。我们发现,从长远来看,初级收入汇款对外国直接投资的负面影响,甚至通过外国直接投资流入的资本,可能会抑制增长。JEL代码:E12
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引用次数: 0
Of Economics and Statistics: the "Gerschenkron Effect" 经济学与统计学:“格申克朗效应”
IF 0.7 Q2 Social Sciences Pub Date : 2019-11-11 DOI: 10.13133/2037-3643_72.290_2
S. Fenoaltea
The "Gerschenkron effect" refers to the purported biases of early-weighted and late-weighted indices of production. If production is properly measured in what economists mean by "real" terms, the "Gerschenkron effect" does not exist at all.
“格申克朗效应”指的是早期加权和后期加权生产指标的所谓偏差。如果用经济学家所说的“真实”价值来衡量生产,“格申克朗效应”就根本不存在。
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引用次数: 5
Stability and growth in a global economy 全球经济的稳定与增长
IF 0.7 Q2 Social Sciences Pub Date : 2019-08-06 DOI: 10.13133/2037-3643_72.289_1
I. Visco
The hopes that dawned with the end of the Cold War of improving everyone’s well-being through globalisation and technological progress have been partly disappointed. They have been replaced by uncertainty about the effects of these profound changes on the distribution of wealth, the availability of work, the possibility of growth continuing at the same pace as in the last few decades, the impact on the environment, the consequences of demographic trends, and the balance of power between countries, between companies, and between companies and consumers. The need to govern these changes is now clear and greater attention must be paid to those who have difficulty adapting, not only in advanced countries, where automation and global competition are displacing many workers employed in routine jobs, but also in emerging and developing countries, where the prospects of further poverty reduction are diminishing. These are crucial challenges for the world economy. JEL codes : F6, O33, Q54, J11
随着冷战的结束,人们希望通过全球化和技术进步改善每个人的福祉,但这种希望在一定程度上已经破灭。取而代之的是不确定性,这些不确定性是关于这些深刻变化对财富分配的影响,工作的可获得性,以过去几十年的速度继续增长的可能性,对环境的影响,人口趋势的后果,以及国家之间,公司之间,公司与消费者之间的权力平衡。管理这些变化的必要性现在很明显,必须更多地关注那些难以适应的人,不仅在自动化和全球竞争正在取代许多从事常规工作的工人的发达国家,而且在进一步减少贫困的前景正在减弱的新兴国家和发展中国家。这些都是世界经济面临的重大挑战。JEL代码:F6、O33、Q54、J11
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引用次数: 2
The establishment of neoliberalism in Mexico 墨西哥新自由主义的建立
IF 0.7 Q2 Social Sciences Pub Date : 2019-08-06 DOI: 10.13133/2037-3643_72.289_7
J. Ortiz
Neoliberalism established itself in Mexico a system of government and economic and social policy in a long process over 35 years since 1981. It began with the financial crisis of 1982, caused by the fall in oil prices and growth in interest rates when Paul Volcker headed the US financial policy. In Mexico the crisis led to a repayment crisis and a debt renegotiation with the IMF and the banking system. The government nationalized the retail banks in September, but in December a new government began a transformation of society based on the predominance of private enterprise and the market as an allocation mechanism. JEL codes : B52
新自由主义自1981年以来,在长达35年的漫长过程中,在墨西哥建立了一个政府体系以及经济和社会政策体系。它始于1982年的金融危机,起因是保罗·沃尔克领导美国金融政策时油价下跌和利率增长。在墨西哥,这场危机导致了还款危机,并与国际货币基金组织和银行系统重新谈判债务。政府于9月将零售银行国有化,但在12月,新政府开始了基于私营企业主导地位和市场作为分配机制的社会转型。JEL代码:B52
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引用次数: 2
Swimming against the (Developmentalist) mainstream: the liberal economists in Argentina between 1955 and 1976 与(发展主义者)主流背道而驰:1955年至1976年间阿根廷的自由主义经济学家
IF 0.7 Q2 Social Sciences Pub Date : 2019-08-06 DOI: 10.13133/2037-3643_72.289_3
Juan Odisio, M. Rougier
We the study the main representatives of traditional liberalism in Argentina between 1955 and 1975. In those years a local reformulation of liberal ideas attempted to both rescue the 19th century liberal tradition and to incorporate some of the neoliberal ideas that had begun to gather strength at the international level. These ideas paved the way for the construction of new consensuses within liberal ranks. The most visible exponents of such thinking in this period were Federico Pinedo, Alvaro Alsogaray, Alberto Benegas Lynch, and Jose Martinez de Hoz. In this article we are interested in the action and rhetoric of these exponents of Postwar liberalism in Argentina, and we specifically assess the criticisms they deployed against the state-led industrialization model. JEL codes : B25, O54, O21
我们研究了1955年至1975年间阿根廷传统自由主义的主要代表人物。在那些年里,当地重新制定的自由主义思想试图拯救19世纪的自由主义传统,并融入一些已经开始在国际层面积聚力量的新自由主义思想。这些思想为在自由主义阵营中构建新的共识铺平了道路。在这一时期,这种思想最明显的倡导者是费德里科·皮涅多、阿尔瓦罗·阿尔索加雷、阿尔贝托·贝内加斯·林奇和何塞·马丁内斯·德霍兹。在这篇文章中,我们对这些战后自由主义倡导者在阿根廷的行动和言论感兴趣,我们具体评估了他们对国家主导的工业化模式的批评。JEL代码:B25、O54、O21
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引用次数: 0
An empirical analysis for the US of the impact of federal budget deficits and the average effective personal income tax rate on the ex post real interest rate yield on ten-year Treasuries 以美国为例,实证分析联邦预算赤字和平均有效个人所得税税率对十年期国债扣除实际利率后收益率的影响
IF 0.7 Q2 Social Sciences Pub Date : 2019-04-15 DOI: 10.13133/2037-3643_72.288_3
R. Cebula, Robert Boylan
We investigate the impact of federal government budget deficits and federal personal income tax rates on the ex post real interest rate yield on ten-year US Treasury notes. Using autoregressive two-stage least squares estimations for the post-Bretton Woods era, we find that the yield on these Treasury issues has been an increasing function of the federal budget deficit as a percent of GDP, both in the form of the total/unified deficit and the primary deficit, and also an increasing function of the average effective federal personal income tax rate. The estimation reveals that growth in the M2 money supply (relative to GDP) acts to reduce the real interest rate yield on ten-year Treasuries. Consequently, while a growing money supply can help to keep real interest rates on Treasury notes (and hence federal debt service costs) down, policymakers should be sensitive to the fact that both budget deficit increases and tax rate increases can elevate the real interest rate. JEL codes : E43, E62, H62
我们研究了联邦政府预算赤字和联邦个人所得税税率对十年期美国国债事后实际利率收益率的影响。使用后布雷顿森林时代的自回归两阶段最小二乘估计,我们发现这些国债的收益率一直是联邦预算赤字占GDP百分比的递增函数,无论是以总/统一赤字和初级赤字的形式,还是平均有效联邦个人所得税税率的递增函数。估算表明,M2货币供应量(相对于GDP)的增长会降低10年期国债的实际利率收益率。因此,尽管不断增长的货币供应有助于降低国库券的实际利率(从而降低联邦债务的偿债成本),但政策制定者应该敏感地认识到,预算赤字的增加和税率的提高都可能推高实际利率。JEL代码:E43, E62, H62
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引用次数: 1
EMU: An Italian perspective EMU:意大利视角
IF 0.7 Q2 Social Sciences Pub Date : 2019-04-15 DOI: 10.13133/2037-3643_72.288_2
R. Masera
The paper offers an Italian perspective on the creation and evolution of the European Economic and Monetary Union (EMU), which were and continue to be politically driven processes. European political leaders were responsible not for design defects but for a fundamental fault in execution: an original sin that continues to undermine the workings of the EMU. Contrary to commonly held beliefs, the Maastricht criteria and a rapid convergence process towards political union as the counterpart to the EMU were a viable framework. This consistent time path was not respected when the euro was created: the participation of Italy in 1999 and of Greece in 2001 did not satisfy the condition of prior fundamental convergence, notably in terms of public finance. The currency without a state, the lack of adjustment, and insufficient structural reforms imparted a deflationary bias, heightened the risks of the sovereign/bank nexus, and led to a wrong policy mix. In spite of significant steps to correct the system, current flaws continue to represent a major drawback to improving the resilience of the system . JEL codes : E42, E52, E61, F33, F34, F45, H63
本文提供了意大利对欧洲经济和货币联盟(EMU)的创建和演变的看法,这是并将继续是政治驱动的过程。欧洲政治领导人的责任不在于设计缺陷,而在于执行上的根本失误:这一原罪继续破坏着欧洲货币联盟的运作。与普遍的看法相反,马斯特里赫特标准和朝着与欧洲货币联盟相对应的政治联盟的迅速趋同进程是一个可行的框架。欧元创立时,这种一致的时间路径并没有得到尊重:1999年意大利和2001年希腊的加入,都没有满足事先基本趋同的条件,尤其是在公共财政方面。没有政府的货币、缺乏调整和不充分的结构性改革导致了通缩倾向,加剧了主权/银行关系的风险,并导致了错误的政策组合。尽管采取了重大步骤来纠正系统,但目前的缺陷仍然是提高系统弹性的主要缺点。JEL代码:E42、E52、E61、F33、F34、F45、H63
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引用次数: 0
Supplementing Household Income through Self-Supply and Exchange: The Case of a Multiple-Exchange Fair in Mexico City, 2016. 通过自我供应和交换来补充家庭收入:以2016年墨西哥城多方交换博览会为例。
IF 0.7 Q2 Social Sciences Pub Date : 2019-01-01 DOI: 10.13133/2037-3643_72.291_4
O. Campuzano, Francisco Javier Ayvar
For approximately 40% of Mexican households, income alone is insufficient to meet basic expenses. As a result, some families fulfill their needs through self-supply, the practice of producing goods either for direct consumption or eventual exchange. This paper demonstrates the effects that the self-supply practice has on household savings. The authors find that the practice of multiple exchange, which includes a combination of exchange, production, and self-supply, is a key mechanism that enables Mexican households to better meet their needs. Data from a survey given to participants of a trade-and-exchange fair in Mexico City in 2016 was used; the participants’ self-supply levels exceeded Mexico’s self-supply average, positively influencing their monetary savings. Download appendix online
对于大约40%的墨西哥家庭来说,单靠收入不足以满足基本开支。因此,一些家庭通过自给自足来满足他们的需求,即生产商品供直接消费或最终交换。本文论证了自给制对居民储蓄的影响。作者发现,多重交换的实践,包括交换、生产和自我供应的结合,是使墨西哥家庭更好地满足其需求的关键机制。数据来自2016年对墨西哥城贸易和交换博览会参与者的调查;参与者的自我供应水平超过了墨西哥的自我供应平均水平,对他们的货币储蓄产生了积极影响。网上下载附录
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引用次数: 0
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PSL Quarterly Review
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