摘要:

One aspect of reforming the world monetary system is the issue of designing a set of ‘rules of the game’ within which countries can pursue their own national objectives and yet which still leads to some form of global coordination of macroeconomic policies. The issue of strategic interactions between countries has recently received some analytical insights with the application of game theory to the economics literature on interdependence between countries. The purpose of this paper is to survey these recent applications of static and dynamic game theory to the question of international policy coordination. It also surveys the results of the few empirical attempts to measure the potential gains to coordinat

ISSN:0013-0249    

DOI:10.1111/j.1475-4932.1988.tb02063.x

出版商:Blackwell Publishing Ltd    

年代:1988

数据来源: WILEY

摘要:

Public housing provides subsidized shelter to approximately 300 000 families in Australia. This paper provides the first estimates of the effects of the program on die consumption pattern of participants, and of the benefits they derive from U. It also examines the distribution of benefits among participants. The effects of the public housing programs are compared with those under an alternative program of equivalent‐value, unrestricted cash grant

ISSN:0013-0249    

DOI:10.1111/j.1475-4932.1988.tb02064.x

出版商:Blackwell Publishing Ltd    

年代:1988

数据来源: WILEY

摘要:

This paper uses the absolute price version of the differential demand model to examine substitution possibilities for the consumption of beer in different containers in the period 1968–69 to 1983–84. The results indicate that the effect of beer packaging in beer consumption is significant. The same beer in different containers can be treated as quite different products The conditional substitution between bottled beer and canned beer is the highest among the beers. However, due to a strong ‘income effect’, the unconditional substitution between them is lower than that between bottled beer and bu

ISSN:0013-0249    

DOI:10.1111/j.1475-4932.1988.tb02065.x

出版商:Blackwell Publishing Ltd    

年代:1988

数据来源: WILEY

ISSN:0013-0249    

DOI:10.1111/j.1475-4932.1988.tb02066.x

出版商:Blackwell Publishing Ltd    

年代:1988

数据来源: WILEY

摘要:

Keynesian economics came under much criticism in the 1970s This paper argues that the decline in Keynesian economics and the rise in, notably, new classical economics in this period related to their respective theoretical appeal rather than their ability to explain developments in the macroeconomy. As this has become increasingly recognized, and with the development of sound microeconomic foundations, Keynesian economics has again been on the rise.

ISSN:0013-0249    

DOI:10.1111/j.1475-4932.1988.tb02067.x

出版商:Blackwell Publishing Ltd    

年代:1988

数据来源: WILEY

摘要:

We study a three‐level hierarchy in which the role of the supervisor is to transmit to the entrepreneur (the principal) information about workers' individual performances We are concerned with a form of discretion which arises from monitoring personalized incentive schemes through a supervisor, that we call hidden gaming. The supervisor can use his discretionary power to organize games unobserved by the principal which enable him to extract benefits from workers. This extortion activity decreases the level of efficiency of the organization and it is shown to subsist partly even when the principal monitors the supervisor with the best incentive scheme based on his own information. In some circumstances non‐personalized incentive schemes are optimal because of hidden gaming. The paper concludes with a discussion of possible motivations for public intervention within organizations to eliminate extortions due to hidden gam

ISSN:0013-0249    

DOI:10.1111/j.1475-4932.1988.tb02068.x

出版商:Blackwell Publishing Ltd    

年代:1988

数据来源: WILEY

摘要:

This paper provides a critique of standard theories of money, in particular those based on money as a medium of exchange. Money is important because of the relationship between money and credit The process of judging credit worthiness, in which banks play a central role, invokes the collection and processing of information. Like many other economic activities involving information, these processes are not well described by means of standard production functions. Changes in economic circumstances can have marked effects on the relevance of previously accumulated information and accordingly on the supply of credit Changes in the availability of credit may have marked effects on the level of economic activity, while changes in real interest rates seem to play a relatively minor role in economic fluctuations.This alternative view has a number of implications for policy, both at the macroeconomic level (for instance, on the role of monetary policy for stabilization purposes and the choice of targets) and at the microeconomic level.

ISSN:0013-0249    

DOI:10.1111/j.1475-4932.1988.tb02069.x

出版商:Blackwell Publishing Ltd    

年代:1988

数据来源: WILEY

ISSN:0013-0249    

DOI:10.1111/j.1475-4932.1988.tb02070.x

出版商:Blackwell Publishing Ltd    

年代:1988

数据来源: WILEY

ISSN:0013-0249    

DOI:10.1111/j.1475-4932.1988.tb02071.x

出版商:Blackwell Publishing Ltd    

年代:1988

数据来源: WILEY

ISSN:0013-0249    

DOI:10.1111/j.1475-4932.1988.tb02072.x

出版商:Blackwell Publishing Ltd    

年代:1988

数据来源: WILEY