摘要:

ABSTRACTPasinetti's vertically integrated H matrix has been much used in economic theory but his other vertically integrated matrix, G — which is of a quite different nature — has been little noticed. This paper considers the nature of the G matrix, its relationship to H, and varous issues — concerning consumption and growth, value added, sales revenue and differential growth or profit rates — for the analysis of which G is a very useful analytic

ISSN:0026-1386    

DOI:10.1111/j.1467-999X.1989.tb00438.x

出版商:Blackwell Publishing Ltd    

年代:1989

数据来源: WILEY

摘要:

ABSTRACTWe discuss choices among irreversible projects under uncertainty. This kind of problem was first posed studying natural resource utilization (Weisbrod, Arrow‐Fisher), but our analysis may be applied to a wide class of phenomena. In an uncertain world, an economic agent, instead of committing himself to an irreversible decision, could prefer to postpone his choice waiting for better information. In this paper, we discuss the projects characteristics and the information qualities that make postponing the preferred choice. We use a Markov process with a three‐period horizon, because it allows us to treat analitically the way in which information arrives over t

ISSN:0026-1386    

DOI:10.1111/j.1467-999X.1989.tb00439.x

出版商:Blackwell Publishing Ltd    

年代:1989

数据来源: WILEY

ISSN:0026-1386    

DOI:10.1111/j.1467-999X.1989.tb00440.x

出版商:Blackwell Publishing Ltd    

年代:1989

数据来源: WILEY

摘要:

ABSTRACTThe paper investigates the relationship between the indebtedness situation of a (developing) country and its production of renewable resources. It is shown that such a relationship exists if the capital market on which the country borrows and lends is imperfect. Additionally, it can be seen that under realistic assumptions about the type of the market imperfection a debt relief has a resource‐conserving effec

ISSN:0026-1386    

DOI:10.1111/j.1467-999X.1989.tb00441.x

出版商:Blackwell Publishing Ltd    

年代:1989

数据来源: WILEY

摘要:

ABSTRACTA discrete‐time model of a closed economy is employed in order to introduce the whole dynamics of stock adjustments in the IS‐LM diagram. Discrete‐time modeling allows us to represent the traverse process from the initial stationary state equilibrium to the new one by means of a family of intermediary IS(t) and LM(t) curves intersecting at each t to determine the appropriate short run equilibrium. Sufficient conditions for the dynamic process to be non‐cyclical are derived under plausible assumptions. Two appendices provide the stability analysis and a numerical simulation of the mod

ISSN:0026-1386    

DOI:10.1111/j.1467-999X.1989.tb00442.x

出版商:Blackwell Publishing Ltd    

年代:1989

数据来源: WILEY

摘要:

ABSTRACTIn many countries illegal imports have reached a considerable share of all national imports. Therefore, we have to investigate the economic effects resulting from smuggling. This paper explains this phenomenon by means of the managers' different individual attitudes towards risk and their different estimation of the exposure costs of illegal trade. It could be shown that this basis of smuggling is also an important aspect for a national economy, since the relative prices are affected by the risk and cost estimations of the trade firms.

ISSN:0026-1386    

DOI:10.1111/j.1467-999X.1989.tb00443.x

出版商:Blackwell Publishing Ltd    

年代:1989

数据来源: WILEY