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on Heterodox Microeconomics |
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Issue of 2015‒06‒13
seventeen papers chosen by Carlo D’Ippoliti Università degli Studi di Roma “La Sapienza” |
| By: | Freema, Alan |
| Abstract: | This paper was presented in the session on ‘Long Waves in Political Economy’ organised by Ingo Schmidt at the Congress of the Humanities and Social Sciences, Ottawa, June 1-4 2015. It discusses the ‘theoretical turn’ towards state intervention in the last Great Depression and the need for clarity about the underlying views of Keynes and Schumpeter – two of the major opposed players in that theoretical turn. It argues that primary function of economics as an esoteric discipline disguises the essence of these underlying theoretical positions. Thus in order to make a rational and evidence-based connection between theory and policy, attention both to interpretation and to assertive pluralism is indispensable. |
| Keywords: | pluralism, political economy, economics |
| JEL: | B0 B4 |
| Date: | 2015–06–03 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:64809&r=hme |
| By: | Anaïs A Périlleux; Ariane Szafarz |
| Abstract: | How do women leaders such as board members and top managers influence the social performance of organizations? This paper addresses the question by exploiting a unique database from a Senegalese network of 36 financial cooperatives. We scrutinize the loan-granting decisions, made jointly by the locally elected board and the top manager assigned by the central union of the network. Our findings are threefold. First, female-dominated boards favor social orientation. Second, female managers tend to align their strategy with local boards' preferences. Third, the central union tends to assign male managers to female-dominated boards, probably to curb the boards’ social orientation. |
| Keywords: | Gender; Governance; Leadership; Microfinance; Africa; Senegal |
| JEL: | G20 J54 O16 G34 O55 L31 |
| Date: | 2015–05–27 |
| URL: | http://d.repec.org/n?u=RePEc:sol:wpaper:2013/199950&r=hme |
| By: | Leonardo Gasparini (CEDLAS - UNLP); Mariana Marchionni (CEDLAS - UNLP) |
| Abstract: | This book contributes to the understanding of female labor force participation in Latin America by documenting the changes that took place over the last two decades, exploring their determinants, analyzing their consequences on labor and social outcomes, and discussing implications for public policy. The book highlights a potentially worrisome finding: after around half a century of sustained growth, there are signs of a widespread and significant deceleration in the entry of women into the Latin American labor markets. A version of this paper will be published as Chapter 1 of Gasparini and Marchionni (eds.) (2015). Bridging gender gaps? The rise and deceleration of female labor force participation in Latin America. |
| Date: | 2015–06 |
| URL: | http://d.repec.org/n?u=RePEc:dls:wpaper:0185&r=hme |
| By: | Belke, Ansgar; Göcke, Matthias; Werner, Laura |
| Abstract: | Relations between economic variables are often characterized by a situation where initial conditions and the past realizations of economic variables matter. I.e. past (transient) exogenous disturbances and past states of the economic system do have an influence on the current economic relations. Typical examples are the dynamics of (un)employment in business cycles and the dynamics of the nexus of exchange rate and exports. Since the standard characteristics of hysteresis apply - i.e. permanent effects of a temporary stimulus, resulting in path-dependent multiple equilibria - these economic phenomena are correctly titled as hysteresis. Empirical research in economics is using different methods in order to capture path-dependent effects. First econometric approaches tried to describe these effects by simple timeseries processes with unit- (or zero)-root dynamics. However, since unit-root-dynamics are not related to genuine multiple equilibria but on the order of integration of the time series, these first attempts were expanded by more sophisticated time-series models integrating structural breaks, threshold-cointegration or non-linear autoregressive distributed lag-models. Another branch of empirical studies tries to keep closer to the original concept of the macroloop, trying to apply an explicit Mayergoyz/ Preisach aggregation procedure for heterogeneous firms if microeconomic information is available based on panel-data - or by using simple algorithms analogous to mechanical-play in order to apply simple OLS-regression methods on a filtered/transformed input-output relation. In this paper, we give an overview of the implementation of hysteresis in economics, with an emphasis on two aspects: (1) the differentiation between micro- and macroeconomic hysteresis including an outline of an adequate aggregation procedure, and (2) different methods applied in econometrics in order to capture economic path-dependency empirically. |
| Abstract: | Der Zusammenhang zwischen ökonomischen Größen kennzeichnet sich oftmals dadurch, dass die Ausgangssituation und vergangene Werte von Bedeutung sind. Vergangene (temporäre) exogene Störungen und Zustände des Systems haben einen Einfluss auf die gegenwärtigen Zusammenhänge. Typische Beispiele hierfür sind die Entwicklung der Arbeitslosigkeit im Laufe des Konjunkturzyklus' oder der Zusammenhang zwischen Wechselkursen und Exporten. Diese Phänomene lassen sich somit als Hysterese klassifizieren - also die permanente Auswirkung eines temporären Effektes mit dem Ergebnis eines pfadabhängigen Gleichgewichtes. Empirische Untersuchungen in den Wirtschaftswissenschaften verwenden verschiedene Methoden, um diese Phänomene abzubilden. Einerseits wird versucht diese Effekte über stationäre bzw. nicht-stationäre Prozesse mittels Einheitswurzeltests abzubilden. Hierbei wird aber nur auf den Integrationsgrad der Zeitreihen eingegangen, so dass multiple Gleichgewichte nicht untersucht werden können. Insofern wurden diese Ansätze bald durch Verfahren ersetzt, die Strukturbrüche, Kointegration oder nicht lineare Zusammenhänge erlauben. Ein anderer Zweig der empirischen Forschung konzentriert sich stärker auf das ursprüngliche Konzept einer makroökonomischen Hystereseschleife. Hierbei wird explizit eine Mayergoyz/Preisach-Aggregation für heterogenen Firmen vorgenommen. Dieser Beitrag liefert eine Übersicht über das Hysteresephänomen in ökonomischen Zusammenhängen, wobei besonders auf zwei Aspekte eingegangen wird. Erstens wird sorgfältig zwischen Hysterese auf mikro- und makroökonomischer Ebene unterschieden und zweitens werden die verschieden ökonometrischen Methoden dargestellt, um Pfadabhängigkeit abbilden zu können. |
| Keywords: | play-hysteresis,modelling techniques,switching/spline regression,path-dependence |
| JEL: | C51 C62 |
| Date: | 2014 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:rwirep:468&r=hme |
| By: | Cutuli, Romina |
| Abstract: | En el contexto de la "crisis del empleo", en la década de 1990, y en el marco de las teorías finalistas de fin de siglo, tuvo lugar el "debate sobre el fin del trabajo". La discusión conceptual en torno al concepto de trabajo adquirió gran centralidad, puesto que urgía definir qué era aquello que se manifestaba en vías de desaparición. El recorrido que propongo en este artículo, vuelve a la historicidad del concepto trabajo en clave de género. El debate en torno a "el fin del trabajo", tan centrado en la preocupación por hallar la piedra fundamental del concepto, tanto en su vertiente historicista como antropológica, omite el carácter generizado de los sujetos. En esta omisión, veremos, el concepto se construye y deconstruye en genérico masculino. En un segundo apartado, daré breve cuenta de los intentos de visibilización de las mujeres en los estudios del trabajo para, finalmente, reflexionar acerca de las preguntas que agrega al debate sobre "el fin del trabajo", una mirada en clave de género. |
| Keywords: | Trabajo; Empleo; Desempleo; Género; Mujeres; |
| Date: | 2014–07 |
| URL: | http://d.repec.org/n?u=RePEc:nmp:nuland:2158&r=hme |
| By: | Suppa, Nicolai |
| Abstract: | This paper compiles a multidimensional poverty index for Germany. Drawing on the capability approach as conceptual framework, I apply the Alkire-Foster method using German panel data. I suggest new operationalizations for two dimensions: social participation and practical reason, the latter drawing on recent findings in experimental economics. The results are consistent with earlier findings, but also reveal several new insights. Specifically, numerous decompositions of the poverty index prove helpful in better tracking and understanding developments. Moreover, I find poor individuals to be adversely affected by general trends in deprivation indicators. Comparing multidimensional and income-based methods, I find only a modest overlap of people considered as poor by both approaches. Moreover, I address the role of income as a dimension in multidimensional poverty indices. |
| Abstract: | Der vorliegende Beitrag erstellt einen mehrdimensionalen Armutsindex für Deutschland. Konzeptionell eingebettet in den Capability-Ansatz, wird die Alkire-Foster Methode mit deutschen Paneldaten verwendet. Der Beitrag schlägt die Operationalisierung für zwei weitere Dimensionen vor: soziale Partizipation und praktische Vernunft, wobei letztere auf aktuellen Ergebnissen der Verhaltensökonomie basiert. Die empirischen Befunde sind konsistent mit früheren Ergebnissen, eröffnen aber auch neue Einsichten. Insbesondere die vielfältigen Zerlegungen des Armutsindexes erweisen sich als hilfreich, um wichtige Entwicklungen nachzuzeichnen und besser zu verstehen. Ein Vergleich von mehrdimensionalen mit einkommensbasierten Methoden offenbart eine nur mäßige Überschneidung der als arm identifizierten Personen. Schließlich wird auch die Rolle von Einkommen als weitere Dimension diskutiert. |
| Keywords: | multidimensional poverty,Alkire-Foster method,capability approach,SOEP |
| JEL: | I3 I32 D63 H1 |
| Date: | 2015 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:rwirep:541&r=hme |
| By: | Klabunde, Anna |
| Abstract: | In this paper an agent-based model of endogenously evolving migrant networks is developed to identify the determinants of migration and return decisions. Individuals are connected by links, the strength of which declines over time and distance. Methodologically, this paper combines parameterization using data from the Mexican Migration Project with calibration. It is shown that expected earnings, an idiosyncratic home bias, network ties to other migrants, strength of links to the home country and age have a significant impact on circular migration patterns. The model can reproduce spatial patterns of migration as well as the distribution of number of trips of migrants. It is shown how it can also be used for computational experiments and policy analysis. |
| Abstract: | In dieser Studie wird ein agentenbasiertes Modell zum Migrationskreislauf mexikanischer Migranten in die USA eingeführt. Es handelt sich um ein vollständig empirisch fundiertes Modell, d.h. alle Parameter basieren auf empirischen Schätzungen. Insbesondere wurden die Koeffizienten der Verhaltensregeln der Individuen mit geläufigen ökonometrischen Methoden geschätzt. Hierbei wurde das Mexican Migration Project (MMP) verwendet, ein großer Haushaltsdatensatz. In einem ersten Schritt wird gezeigt, dass erwartetes Einkommen, eine idiosynkratische Heimatpräferenz und Netzwerkbeziehungen zu anderen Migranten die wichtigsten Determinanten der Migrationsentscheidung von Angehörigen einer Generation mexikanischer Migranten sind. Die Anzahl und Stärke der Beziehungen in das Heimatland beeinflusst hingegen die Rückkehrentscheidung. Es wird zudem gezeigt, dass die Verteilung der Migranten über die Städte der USA hinweg einer Power-Law-Verteilung folgt. Dies wird erklärt durch einen Preferential-Attachment'-Prozess, in dem Migranten häufig die Städte als Zielort wählen, in denen sie Bekannte und Verwandte haben. Die Verteilung der Anzahl der Migrationsbewegungen ist negativ binomialverteilt, was dadurch zu erklären ist, dass es viel wahrscheinlicher ist, dass Migranten nach der ersten Migrationsbewegung eine weitere Migrationsbewegung durchführen, als dass sie das erste Mal migrieren. Der Grund hierfür ist, dass sich die Entscheidung, zum zweiten Mal zu migrieren, stark von der unterscheidet, zum ersten Mal auszuwandern, weil migrationsspezifische Erfahrungen die Entscheidung erleichtern. Das agentenbasierte Modell ist in der Lage, beide Verteilungen und zwei aggregierte Zeitreihen nachzubilden. Daher wird es für geeignet befunden, Politikanalysen durchzuführen. Es wird gezeigt, wie mit Hilfe des Modells der Effekt einer Erhöhung der mexikanischen Löhne und einer Intensivierung der Grenzkontrollen untersucht werden kann. |
| Keywords: | circular migration,social networks,agent-based computational economics |
| JEL: | C63 F22 J61 |
| Date: | 2014 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:rwirep:471&r=hme |
| By: | Ricardo Lopez (Brandeis University) |
| Abstract: | This paper uses plant-level data from the manufacturing sector of Chile for the period 1995-2007 to examine the effect of real exchange rate (RER) volatility on imports of intermediate inputs at the micro level. Using input-output tables, we construct sector-level RERs relevant for input import decisions and find that increases in the RER and its volatility reduce the fraction of imported intermediate inputs used by plants, while plants' probability of importing is not affected. Thus, fluctuations in the RER affect the intensive margin of imports (the amount of inputs imported) but not the extensive margin (the decision to import). |
| Date: | 2015–06 |
| URL: | http://d.repec.org/n?u=RePEc:brd:wpaper:86&r=hme |
| By: | Geijtenbeek, Lydia (University of Amsterdam); Plug, Erik (University of Amsterdam) |
| Abstract: | We study the earnings of transsexuals using Dutch administrative labor force data. First, we compare transsexuals to other women and men, and find that transsexuals earn more than women and less than men. Second, we compare transsexuals before and after transition using worker fixed effects models, and find a fall in earnings for men who become women and a smaller rise (if any) in earnings for women who become men. These earnings patterns, which hold for annual as well as hourly earnings, are consistent with a labor market model in which workers are discriminated for being female and transsexual. |
| Keywords: | transsexuals, gender, labor market outcomes, discrimination |
| JEL: | J16 J24 J71 |
| Date: | 2015–05 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp9077&r=hme |
| By: | Suriyasarn, Busakorn |
| Keywords: | sex discrimination, sexual orientation, gender roles, human rights, employment opportunity, workplace violence, social exclusion, legal aspect, Thailand, discrimination fondée sur le sexe, orientation sexuelle, rôles de genre, droits de l'homme, possibilités d'emploi, violence au travail, exclusion sociale, aspect juridique, Thaïlande, discriminación por razones de sexo, orientación sexual, papeles de los géneros, derechos humanos, oportunidades de empleo, violencia en el trabajo, exclusión social, aspecto jurídico, Tailandia |
| Date: | 2015 |
| URL: | http://d.repec.org/n?u=RePEc:ilo:ilowps:487845&r=hme |
| By: | Khalid Abu-Ismail; Niranjan Sarang |
| Abstract: | The degree of choice households have over their consumption expenditure is critical in deciding their economic class. Applying our measure to Egyptian household budget surveys, we estimate the population size of the middle class in Egypt and assess their well-being in the period 1995-2011. Our findings show that if economic growth is pro-poor and inclusive, more people at the lower end of income distribution will graduate into the middle class category. The increase in poverty rates and decline in the size of the middle class since 2005 indicates that the growth process in Egypt was anti-poor and anti-middle class. |
| Keywords: | Economic growth, Equality and inequality, Measurement (Poverty) |
| Date: | 2015 |
| URL: | http://d.repec.org/n?u=RePEc:unu:wpaper:wp2015-023&r=hme |
| By: | Dirk Bethmann (Department of Economics, Korea University, Seoul, Republic of Korea); Robert Rudolf (Division of International Studies, Korea University, Seoul, Republic of Korea) |
| Abstract: | Using a rich longitudinal data set of married couples from the Korean Labor and Income Panel Study (KLIPS), this article seeks to uncover the relationship between intrahousehold bargaining and the distribution of experienced utility within marriage. Providing an empirical test of the cooperative bargaining model, we confirm both substantial gains from marriage and the importance of the exogenous threat point in the distribution of happiness within the household. In particular, we find that the higher a partner¡¯s relative predicted earnings outside of marriage, the higher her/ his relative gains from marriage. In addition, this study reveals an asymmetry between women and men in older couples: men on average are endowed with a lower threat point utility, yet secure higher returns from marriage. This is likely to be due to social norms and prescribed gender roles which are more prevalent within the older generation. |
| Keywords: | Intrahousehold bargaining, Marriage, Happiness, Gender asymmetry, Generation effect |
| JEL: | C78 D10 I31 J12 J16 |
| Date: | 2015 |
| URL: | http://d.repec.org/n?u=RePEc:iek:wpaper:1503&r=hme |
| By: | Etoundi Atenga, Eric Martial; Chameni Nembua, Célestin; Meva Avoulou, Henri Joel |
| Abstract: | The working population is becoming more and more feminized from 2000 to 2008 in Cameroon. Women receive on average a salary lower than that of the men and the sex remains a significant determiner of the professional position in Cameroon. From Oaxaca-Blinder(1973)decomposition, this work suggests studying gender wage gap composition in private and para public sectors by using subgroup approach. Results show that wage gap is estimated to 8.8% in favor of men. This gap is higher for employees aged more than 70 years. Women of this class are more discriminated. Unexplained part is 70%.On the other hand,gap and unexplained part is more and more high for highest wages. |
| Keywords: | wage gap decomposition, Human capital, discrimination, quantile regression |
| JEL: | J31 |
| Date: | 2013–12 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:64761&r=hme |
| By: | Procher, Vivien; Ritter, Nolan; Vance, Colin |
| Abstract: | Drawing on German household data from 1992 to 2011, this paper analyzes how couples allocate housework against the backdrop of three questions: (1) Does an individual's contribution to household income - both in absolute and relative terms - influence his or her contribution to housework? (2) If so, does the magnitude of this influence differ by gender? and (3) How important are traditional gender roles on housework allocation? We address these issues by applying panel quantile regression models and find that as both the share and absolute level of income increase, the amount of housework undertaken decreases, with the latter effect being roughly equal across genders. At the same time, traditional gender roles also appear to dictate housework allocation, which is evidenced by women increasing their housework if they earn more than their partner. |
| Abstract: | Basierend auf deutschen Haushaltsdaten von 1992 bis 2011 wird in diesem Papier untersucht, wie verheiratete Paare die Hausarbeit untereinander aufteilen. Der Fokus richtet sich auf die folgenden Fragen: (1) Wird die Hausarbeitszeit, die eine Person aufbringt, vom absoluten bzw. relativen individuellen Einkommen beeinflusst? (2) Wenn ja, sind die Einkommenseffekte für Frauen und Männer gleich? (3) Wie wichtig sind heutzutage noch traditionelle Geschlechterrollen in Bezug auf die Verteilung der Hausarbeit? Mithilfe von Quantils-Panelschätzungen kann gezeigt werden, dass die individuelle Hausarbeit abnimmt, wenn das absolute oder das relative Einkommen dieser Person ansteigt. Die Einkommenseffekte sind für beide Geschlechter nicht signifikant unterschiedlich. Traditionelle Geschlechterrollen scheinen noch immer die Aufteilung zu beeinflussen, denn die Hausarbeit steigt selbst dann für die Frau, wenn ihr Gehalt das ihres Partners übersteigt. |
| Keywords: | housework,income,gender,longitudinal study,quantile panel regression |
| JEL: | D13 J16 J22 |
| Date: | 2014 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:rwirep:472&r=hme |
| By: | Mandakovic Vesna; María Teresa Lepelev; Olga Pizarro (School of Business and Economics, Universidad del Desarrollo) |
| Abstract: | This study is framed on a global vision of women participation in entrepreneurial activity as an introductory note and proceeds with a comprehensive assessment of the experience of women entrepreneurs in Chile in the last thirty years. Chile is one of the fastest growing and most stable economies in Latin America and among developing countries with a 5.7 percent unemployment and 14.8 percent poverty level. This case study is focused on Chilean women entrepreneurs from a business sustainability dimension, providing the experience of a pioneer country that introduced entrepreneurship as a central economic development strategy since the late seventies. |
| Keywords: | Women Entrepreneurs,innovation, business sustainability, economies, América Latina, Chile. |
| Date: | 2014–04 |
| URL: | http://d.repec.org/n?u=RePEc:dsr:wpaper:14&r=hme |
| By: | Katharina Trapp |
| Abstract: | This paper is the first to address the challenges of measuring the labour income share of developing countries. The poor availability and reliability of national accounts data, and the fact that self-employed people, whose labour income is hard to capture, account for a major share of the workforce and often work in the informal sector, render its computation difficult. I consult social accounting matrices as an additional source of information to construct a labour share dataset backed up with microeconomic evidence. First descriptive results show a significant downward trend in labour shares of developing countries since the early 1990s. |
| Keywords: | Income distribution, Informal sector (Economics), Labor costs |
| Date: | 2015 |
| URL: | http://d.repec.org/n?u=RePEc:unu:wpaper:wp2015-041&r=hme |
| By: | Marlene Karl |
| Abstract: | This paper introduces a new and comprehensive dataset on “alternative” banks in EU and OECD countries. Alternative banks (e.g. ethical, social or sustainable banking) experienced a recent increase in media interest and have been hailed as an answer to the financial crisis but no research exists on their stability. This paper studies whether alternative banks differ from conventional banks in terms of riskiness. For this I construct a comprehensive dataset of alternative banks and compare their riskiness with an adequately matched control group of conventional banks using mean comparison and panel regression techniques. The main result is that alternative banks are significantly more stable (in terms of z-score) than their conventional counterparts. The results are robust to different estimation methods and data specifications. Alternative banks also have lower loan to asset ratios and higher customer deposit ratios than conventional banks. |
| Keywords: | Ethical banking, social banking, bank risk, financial crisis |
| JEL: | G21 G32 E44 M14 |
| Date: | 2015 |
| URL: | http://d.repec.org/n?u=RePEc:diw:diwwpp:dp1484&r=hme |