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on Heterodox Microeconomics |
| By: | Yefimov, Vladimir |
| Abstract: | Academic economists have a strong influence on political discourse in Russia by delivering through courses of "Economic theory" and "Institutional economics" very harmful conceptual elements for political discourse. This article proposes to change radically these courses in such a way that, instead of self-interest of the economic man, consideration of social relations exclusively through the prism of exchange, society and community as fictions, the state as a bandit and the opportunistic behavior as a norm, they would provide students with very different images of socio-economic interactions. Discursive paradigm in economics, the foundations of which were laid by John Commons, allows us to take another look at the institutions, transactions, contractual relationships, property, enterprises, and institutional change, and the contemporary communitarian philosophy (Michael Sandel, Alasdair Macintyre, Charles Taylor) and the historical, discursive and constructivist institutionalism in political science (Theda Skocpol, Vivien Schmidt, Colin Hay) make it possible to have different interpretations of the state, law, and civil society. This article calls for a return of institutional economics to the humanistic position of its founders and for a strong critic of the so-called "new institutional economics" and "new political economy". The author, following John Dewey, proposes to economists to feed by the results of their empirical research an enlarged political discourse, which will involve the general public. Among these empirical studies the institutional monitoring should play a central role. Performing institutional monitoring means doing research in the framework of the discursive paradigm, which is ontologically and epistemologically the adequate form of research for understanding the socio-economic-political realities. |
| Keywords: | morality, community, discourse, Schmoller, Commons, economic discipline as a philosophy and as a science, reform of economic discipline |
| JEL: | A1 A11 A12 A13 A14 A2 A20 |
| Date: | 2013–08 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:49024&r=hme |
| By: | Sherstnev, Mikhail |
| Abstract: | The paper analyzes the current discussions on the state of economics with special focus on the interrelationships between key ideas of economic theories and real actions of economic policy in the course of the global economic crisis. The global economic crisis showed the limited ability of mainstream in economics to service the economic practice, and, therefore, the attention of researchers and economic policy-makers was drawn again to some alternative views in economics. |
| Keywords: | Economics, economic crisis, economic policy. |
| JEL: | A11 E6 |
| Date: | 2013–08–11 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:49019&r=hme |
| By: | Pepper, Alexander |
| Abstract: | My contention is that many of the current problems with 'Bankers’ Pay' have their origins in the dismantling of the formal and informal institutions which regulated the labour markets in the financial centres in London and New York prior to 1986-1987. |
| Date: | 2013 |
| URL: | http://d.repec.org/n?u=RePEc:ner:lselon:http://eprints.lse.ac.uk/51697/&r=hme |
| By: | Valérie Paris; Annalisa Belloni |
| Abstract: | This study analyses how 14 OECD Countries refer to “value” when making decisions on reimbursement and prices of new medicines. It details the type of outcomes considered, the perspective and methods adopted for economic evaluation when used; and the consideration of budget impact. It describes which dimensions are taken into account in the assessment of “innovativeness” and the consequences of this assessment on prices; it confirms that treatments for severe and/or rare diseases are often more valued than others and shows how countries use product-specific agreements in an attempt to better align value and price.<BR>Cette étude analyse comment 14 pays de l’OCDE prennent en compte la “valeur” dans leurs décisions concernant le remboursement et le prix des nouveaux médicaments. Elle décrit le type de « résultats » pris en compte, la perspective et les méthodes adoptées pour l’évaluation économique là où elle est utilisée, ainsi que la prise en compte de l’impact budgétaire. Elle décrit quelles dimensions sont prises en compte pour évaluer le caractère innovant et les conséquences de cette évaluation en termes de prix ; elle confirme que les pays accordent souvent une valeur plus élevée aux traitements pour les maladies sévères et/ou rares et montre comment les pays utilisent les accords « par produit » pour tenter de mieux adapter le prix à la valeur. |
| JEL: | I18 |
| Date: | 2013–07–11 |
| URL: | http://d.repec.org/n?u=RePEc:oec:elsaad:63-en&r=hme |
| By: | Yamamoto, Wataru |
| Abstract: | This study demonstrates how ethical attributes of goods affect market outcomes on the basis of market data and actual ethical campaigns. Among the various types of such attributes, such as eco-label and fair trade label, I focus on cause-related marketing (CRM), which economists study less frequently than other ethical attributes. Researchers who analyzed this topic focused largely on experimental data, which has less noise and enables researchers to obtain the pure effect of ethical attributes on market outcomes. However, ethical attributes in practice sometimes en-counter ignorance and even criticism by consumers who deem it as a mere marketing strategy, rather than a truly ethical campaign. These issues play weak role in experimental data estimates because brands and cam-paigns are typically artificial, but the important question is how ethical attributes work in the real marketplace. Therefore, I analyze this issue by estimating the demand for CRM on the basis of scanner data of the US bottled water market and actual campaigns. Surprisingly, the results indicate that CRM decrease sales and suggest that negative consequences of ethical campaigns may occur in the real marketplace. |
| Keywords: | Cause-related marketing; Ethical Consumption; Charity; Philanthropy; Public Economics; Altruistic Behavior |
| JEL: | D64 H41 M14 |
| Date: | 2013–08–14 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:49070&r=hme |
| By: | Kiss, Christian |
| Abstract: | The measurement of economies no longer by GDP alone, but by an Index that includes other important factors as well, a Social factors relativized GDP. Social factors relativized GDP: GDP – GDP x GINI = K_Index Written differently: (1 – GINI) x GDP = K_Index Inflation indexed Version: (1 – GINI – Inflation) x GDP = K_Index_Infl. Productivity Index: K_Index / Labor Force = K_PROD Inflation indexed Productivity Index: K_Index_Infl. / Labor Force = K_PROD_Infl. Debt-to-K_Index: National debt / K_Index = K_Debt Debt-to-K_Index_Infl: National debt / K_Index_Infl. = K_Debt_Infl. |
| Keywords: | Economics, Macro, Gini, Inflation, GDP, inequality, econometric, productivity, debt, debt-to-gdp |
| JEL: | A10 A13 C10 C12 C60 E10 F02 O47 |
| Date: | 2013–08–11 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:49022&r=hme |
| By: | Guido Alfani; Elena Roberta Frigeni |
| Abstract: | Long-term developments in economic inequality are attracting growing attention. Earlier works focused on producing reliable measures of inequality, which overall suggest that in Europe, inequality levels were already high in preindustrial times and tended to grow almost continuously from the Middle Ages until the eve of the Industrial Revolution. Proposing a significantly different perspective, this article explores whether the change in inequality is connected to a change in how a condition of unequal distribution of property/income was perceived. By referring to large databases of manuscripts and printed editions covering ca. 1100-1830, we measure the occurrences of keywords connected to the notions of equality/inequality to determine when inequality became a topic considered worthy of specific reflection. Key texts are analyzed in depth to discover how and when such keywords acquired an economic meaning. Lastly, changes in meaning are connected to changes in levels of economic inequality. We demonstrate that the notions of equality/inequality appeared first in scholarly fields far from economic concerns and only slowly acquired economic meanings. This process intensified in the decades preceding the French Revolution of 1789, suggesting that changes in inequality levels contributed to brewing political upheaval in the Age of Revolutions. |
| Keywords: | equality, inequality, economic inequality, social inequality, middle ages, early modern period, French revolution, economic thought |
| Date: | 2013–07 |
| URL: | http://d.repec.org/n?u=RePEc:don:donwpa:058&r=hme |
| By: | Heckemeyer, Jost H.; Overesch, Michael |
| Abstract: | This paper provides a quantitative review of the empirical literature on profit-shifting behavior of multinational firms. We synthesize the evidence from 25 studies and find a substantial response of profit measures to international tax rate differentials. Accounting for misspecification biases by means of meta-regressions, we predict a tax semi-elasticity of subsidiary pre-tax profits of about 0.8. Moreover, we disentangle the tax response by means of financial planning from the transfer pricing and licensing channel. Our results suggest that transfer pricing and licensing are the dominant profit-shifting channel. -- |
| Keywords: | Profit Shifting,Multinational Firm,Corporate Income Tax,Meta-Analysis |
| JEL: | H25 H26 H32 |
| Date: | 2013 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:zewdip:13045&r=hme |
| By: | Meyer, Judith |
| Abstract: | Mit dem Versuch, gesellschaftliche und soziale Verantwortung in die Geschäftsmodelle und Leitkonzepte von Unternehmen zu integrieren, verändert sich zunehmend die Kommunikation der Global Player hin zum Konsumenten. Oft besteht jedoch eine mangelhafte Kongruenz der Kommunikationsstrukturen mit dem tatsächlichen nachhaltigen Engagement der Unternehmen, wodurch langfristig die Reputation und Existenz der Unternehmensmarke gefährdet werden. Bedingt durch neue Kommunikationskanäle und soziale Netzwerke wachsen zudem die Herausforderungen an die Praxis eines dialogorientierten Marketing- und Markenmanagements, das sich in einem neuen Wettbewerbsumfeld mit neu definierten Rahmenbedingungen und einer verstärkt geforderten Stakeholder-Partizipation behaupten muss. Die theoretische Verortung der Nachhaltigkeitskommunikation (CSRC) als Subthema der Nachhaltigkeit (CSR) bedient sich meist Anleihen aus der CSR-Forschung, welche beide im historischen Verlauf gegenübergestellt werden. Dabei sollen die strategische Bedeutung von CSR präzisiert und letztendlich die verschiedenen Ausprägungen von CSR und CSRC theoriegeleitet in einem Konzept herausgearbeitet werden. Abgeleitet aus diesen Erkenntnissen können am Beispiel BMW und Adidas daher ebenfalls Ausprägungen der CSR-Kommunikation identifiziert werden, die entscheidend die strategische Wachstumsrichtung der Marke determinieren. Konträr zur neoklassischen wirtschaftstheoretischen Betrachtungsweise stellt die analytische Trennung der Akteure die Prämisse für die konzeptionelle Basis der In-stitutionentheorie nach NORTH in einem neuen Informationszeitalter dar. Da das heutige Verständnis der Wettbewerbsprozesstheorie weitestgehend von den österreichi-schen Nationalökonomen geprägt ist, werden anschließend die Leittheorien von HAYEK genutzt, um das unternehmerische Element der Verantwortungsübernahme als Entscheidungskriterium im Wettbewerb zu deklarieren. -- |
| Keywords: | CSR-Kommunikation,Institutionenökonomik |
| Date: | 2013 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:wuerpm:62013&r=hme |