nep-hme New Economics Papers
on Heterodox Microeconomics
Issue of 2016‒10‒23
33 papers chosen by
Carlo D’Ippoliti
Università degli Studi di Roma “La Sapienza”

  1. Sraffa on the Degeneration of the Notion of Cost By Fratini, Saverio M.
  2. The Ricardian rent theory: an overview By Bidard, Christian
  3. Measuring Women's Empowerment: lessons to better understand domestic violence By Diana Lopez-Avila
  4. Development of heterodox economics at public German universities since the 1970s By Thieme, Sebastian; Heise, Arne
  5. Women in the labour market in China By Dasgupta, Sukti.; Matsumoto, Makiko.; Xia, Cuntao.
  6. Marx, the Production Function and the Old Neoclassical Equilibrium: Workable under the Same Assumptions? With an Appendix on the Likelihood of Reswitching and of Wicksell Effects By Schefold, Bertram
  7. Piketty and the increasing concentration of wealth: some implications of alternative theories of dis-tribution and growth By Stirati, Antonella
  8. Causality and interdependence in Pasinetti’s works and in the modern classical approach By Bellino , Enrico; Nerozzi, Sebastiano
  9. PRIDE at work : a study on discrimination at work on the basis of sexual orientation and gender identity in Thailand By Suriyasarn, Busakorn.
  10. Arab Spring Protests and Women's Labor Market Outcomes: Evidence from the Egyptian Revolution By Nelly El-Mallakh; Mathilde Maurel; Biagio Speciale
  11. Gender Quota inside the Boardroom: Female Directors as New Key Players? By Antoine Rebérioux; Gwenaël Roudaut
  12. Distribution and Cost-Push inflation in Brazil under inflation targeting, 1999-2014 By Serrano, Franklin; Summa , Ricardo
  13. What Makes a Price Fair? An Experimental Analysis of Market Experience and Endogenous Fairness Views By Holger Herz; Dmitry Taubinsky
  14. The Failure of Climate Change Negotiations: Irrational Countries Exclude the Poor and the Future Generations By Sang-Chul Suh
  15. Capacity Utilization, Obsolete Machines and Effective Demand By Parrinello, Sergio
  16. Public works programmes : a strategy for poverty alleviation: the gender dimension revisited in Employment Intensive Investment Programmes (EIIPs) in 30 countries in Africa, Asia, Latin America and the Caribbean By Tanzarn, Nite.; Gutierrez, Maria Teresa.
  17. Forest Owners Motivations for Adopting Programs of Biodiversity Protection By Philippe Polomé
  18. Economic Discourse and the European Integration of Financial Infrastructures and Financial Markets By Troels Krarup
  19. Le bitcoin peut-il être assimilé à une monnaie ? Un examen à partir des différentes grilles de lecture de la science économique By Pierre-Henri Faure
  20. Una visión unificada del contagio en mercados financieros: un enfoque causal en el dominio de la frecuencia By Nicolás Ronderos Pulido
  21. La brecha de género en jubilaciones y pensiones: los casos de Argentina, Brasil, Chile y Uruguay By Amarante, Verónica; Colacce, Maira; Manzi, Pilar
  22. Income distribution and the size of the financial sector By Panico, Carlo; Pinto, Antonio
  23. Is the market really a good teacher ? By Pascal Seppecher; Isabelle Salle; Dany Lang
  24. Labor Markets and Poverty in Village Economies By Bandiera, Oriana; Burgess, Robin; Das, Narayan; Gulesci, Selim; Rasul, Imran; Sulaiman, Munshi
  25. Women’s economic empowerment in action : evidence from a randomized control trial in Africa By Bandiera, Oriana.; Buehren, Niklas.; Burgess, Robin.; Goldstein, Markus.; Gulesci, Selim.; Rasul, Imran.; Sulaiman, Munshi.
  26. What can we learn about the embeddedness of commercial relationships from the study of powers of attorney? By Fabien Eloire; Claire Lemercier; Veronica Aoki Santarosa
  27. La nueva ola de reformas previsionales y la igualdad de género en América Latina By Marco, Flavia
  28. Environmental Inequality in France: A Theoretical, Empirical and Policy Perspective By Eloi Laurent
  29. Undoing Gender with Institutions. Lessons from the German Division and Reunification By Quentin Lippmann; Alexandre Georgieff; Claudia Senik
  30. Domestic work, wages, and gender equality : lessons from developing countries By Oelz, Martin.; Rani, Uma.
  31. The motherhood pay gap : a review of the issues, theory and international evidence By Grimshaw, Damian.; Rubery, Jill.
  32. La promotion de la parité hommes-femmes dans l’accès à l’encadrement supérieur de la fonction publique d’Etat By Paulin Ibanda Kabaka
  33. Limited consideration and limited data By Yuta Inoue; Koji Shirai

  1. By: Fratini, Saverio M. (Università degli Studi Roma Tre (University of Rome Tre))
    Abstract: The paper reconstructs the history of what Sraffa called the ‘degeneration of cost’ as emerges from his manuscripts of the late 1920s. In particular, Sraffa regards the Physiocrats as having the correct idea of cost as being the commodities that allow workers to subsist. The classical economists measured this bundle of commodi-ties in terms of labour, which they also ambiguously viewed as ‘toil and trouble’. Then, the idea of labour as ‘toil and trouble’ was indicated by neoclassical authors as an anticipation of their conception of cost as a sacrifice. Conferring also upon abstinence from consumption the nature of sacrifice, the neoclassical-marginalist theory understood wages and interest as compensation for the disutility of working and saving. Then, cost was ultimately seen as what induces workers and capitalists to produce. This completed the degeneration of cost from the objective-physical conception of the Physiocrats to the subjective-psychological view of the neoclassical school.
    Keywords: cost; economic methodology; Sraffa; Sraffa’s manuscripts
    JEL: B12 B13 B41 B51 D24
    Date: 2016–08
  2. By: Bidard, Christian (University Paris Ouest)
    Abstract: We propose to re-read Ricardo's theory of rent to which, we claim, the post-Sraffian literature is methodologically unfaithful. Ricardo's dynamic approach follows the transformations of a long-term equilibrium with demand. Sraffa adopted the same framework while substituting a value criterion for a physical criterion to determine the incoming marginal method, but he did not state the law of succession of methods explicitly. This prevented him to realize that his critique to Ricardo opens the door to all complications of capital theory, with the consequence that the Ricardian dynamics fail when a divergence appears between profitability and productivity. Contemporary studies have cast doubts on the validity of some of Ricardo's and Sraffa's over-optimistic conclusions, but the abandonment of the dynamic approach does not allow them to explain the ultimate reason of the phenomena they have pointed at Ricardo's method has been recently rediscovered by mathematicians.
    Keywords: Classical theory; land; rent; Ricardo; Sraffa
    JEL: B12 B51 C61 D33
    Date: 2014–11
  3. By: Diana Lopez-Avila (PSE - Paris-Jourdan Sciences Economiques - CNRS - Centre National de la Recherche Scientifique - INRA - Institut National de la Recherche Agronomique - EHESS - École des hautes études en sciences sociales - ENS Paris - École normale supérieure - Paris - École des Ponts ParisTech (ENPC), PSE - Paris School of Economics)
    Abstract: This paper aims at shedding light on the relationship between women's empowerment and domestic violence. For this, we explore different ways to measure women's empowerment and domestic violence, and analyze whether the relation depends on the definitions used. We take advantage of a rich data set collected in rural Colombia, including several measures of self-esteem, disagreement towards domestic violence, participation in household decisions and social capital; and analyze the relationship with both aggressive and controlling ways of domestic violence. The results indicate that the different measures of women's empowerment help explain much better the aggressive ways of domestic violence than the controlling ones. Our results show a positive correlation between women's empowerment and domestic violence. This goes in line with the theories that argue that men use violence as a way to leverage their power within the household. Among the different latent measures of women's empowerment we used, we found that social capital and self-esteem are significantly correlated with aggressive domestic violence. We do not find that more common proxies, such as women's participation in household decisions, are significantly correlated to domestic violence.
    Keywords: Gender,Domestic Violence,Household bargaining models,Social Capital,D13, I15, J12, J16, O12
    Date: 2016–03
  4. By: Thieme, Sebastian; Heise, Arne
    Abstract: This article discusses the development of 'heterodox' economics at universities in Germany since the 1970s. Based on Lakatos' concept of scientific research programmes (SRP), the article introduces a classification of economics in order to clarify the understanding of variety within economics, especially in the case of Germany. Based on this classification and taking into account the different kinds of capital (economic, social and symbolic) available to heterodox economists, this article aims to show how heterodox economics in Germany has developed from the early 1970s until the present day. It will be shown that the heterodox schools expanded in the 1970s, but marginalisation took hold again by the 1980s and ultimately left German heterodox economics in a state of near-extinction today. From this, it follows that the history of heterodoxy in Germany is an unequal 'battle of the paradigms', and can only be told as the story of a failure.
    Keywords: heterodox economics,pluralisation,philosophy of science,sociology of science,Germany
    JEL: A11 B20 B50 Z
    Date: 2016
  5. By: Dasgupta, Sukti.; Matsumoto, Makiko.; Xia, Cuntao.
    Abstract: Although the rate is relatively high in China, it has declined in recent years, as has the employment to population ratio. Furthermore, there is a significant wage gap between women in and men, much of which remains “unexplained” when we carry out a decomposition analysis. To improve gender equality in the labour market, the paper points to four areas that require further attention from a policy perspective: (1) measures to promote equal access to employment for women and men; (2) creation of an enabling environment for workers with family responsibilities; (3) improved coverage of social security measures, especially for rural women; and (4) design of an appropriate retirement policy.
    Keywords: gender equality, sex discrimination, women workers, labour market, employment, income, care work, social security, retirement, China, égalité des genres, discrimination fondée sur le sexe, travailleuses, marché du travail, emploi, revenu, prestations de soins, sécurité sociale, retraite, Chine, igualdad de géneros, discriminación por razones de sexo, trabajadoras, mercado de trabajo, empleo, ingreso, prestación de cuidados, seguridad social, jubilación, China
    Date: 2015
  6. By: Schefold, Bertram (Goethe University, Frankfurt am Main)
    Abstract: A stochastic approach has been introduced to explain the empirically observed fact that wage curves calculated from input-output systems tend to be nearly linear and that the paradoxes of capital appear to be rare. The stochastic approach allows to justify the simplifying treatment of normal prices common to 19th and early 20th century authors as diverse as Marx (transformation problem), Wicksell (old neoclassical equilibrium), J.B. Clark (neoclassical production function). It is shown that the likelihood of reverse capital deepening is much lower than that of Wicksell effects. With this, the likely characteristics of the wage frontier obtained from a multiplicity of input-output tables are derived. The conclusion summarises what we know and do not know about the validity of the Cambridge critique of capital.
    Keywords: Capital theory; Random matrices; Aggregate Production Function; Transformation problem; Wicksell effects
    JEL: B13 B14 E25
    Date: 2016–04
  7. By: Stirati, Antonella (Università degli Studi Roma Tre (University of Rome Tre))
    Abstract: Thomas Piketty’s Capital in the Twenty-First Century has been spectacularly successful and a reason for this might be the fact that the theory that underlies his analysis is mainstream theory, with some adjustments or reservations on specific points, but never on the fundamentals. Thus, while Piketty’s empirical analysis often challenges received views and supports a non-apologetic view of capitalism’s dynamics, the book at the same time speaks a language which is common to mainstream economists around the world. This however is not always conducive to consistency and interpretative accuracy. A different theoretical perspective (and some empirical evi-dence) might lead to questioning some of the book’s central claims.
    Keywords: Piketty; inequality; income distribution; capitalist dynamics
    JEL: D31 E25 P10
    Date: 2016–03
  8. By: Bellino , Enrico (Università Cattolica del Sacro Cuore (Catholic University of the Sacred Heart)); Nerozzi, Sebastiano (Università degli studi di Palermo (University of Palermo))
    Abstract: The formal representation of economic theories normally takes the shape of a model, that is, a system of equations which connect the endogenous variables with the values of the parameters which are taken as given. Sometimes, it is possible to identify one or more equations which are able to determine a subset of endogenous variables priory and independently of the other equations and of the value taken by the remaining variables of the system. The first group of equations and variables are thus said to causally determine the remaining variables. In Pasinetti’s works, this notion of causality has often been emphasized as a formal property having the burden of conveying a profound economic meaning. In this paper, we will go through those works of Pasinetti where the notion of causality plays a central role, with the purpose of contextualizing it within the econometric debate of the Sixties, enucleate its economic meaning, and show its connections with other fields of the modern classical approach.
    Keywords: causality; interdependence; modern classical approach; Ricardo distribution theory; Keynes’s analysis; ‘given quantities’; surplus approach; structural dynamics; vertical integration
    JEL: B00 B24 B51 C50 E12
    Date: 2015–01
  9. 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
  10. By: Nelly El-Mallakh (CES - Centre d'économie de la Sorbonne - UP1 - Université Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique); Mathilde Maurel (CES - Centre d'économie de la Sorbonne - UP1 - Université Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique, FERDI - Fondation pour les Etudes et Recherches sur le Développement International - FERDI); Biagio Speciale (PSE - Paris School of Economics, CES - Centre d'économie de la Sorbonne - UP1 - Université Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique)
    Abstract: We analyze the effects of the 2011 Egyptian protests on the relative labor market conditions of women using panel information from the Egypt Labor Market Panel Survey (ELMPS). We construct our measure of intensity of the protests – the governorate-level number of “martyrs” (i.e., demonstrators who died during the protests) - using unique information from the Statistical Database of the Egyptian Revolution. We find that the 2011 protests have reduced the gender gap in labor force participation by increasing women’s unemployment and private sector employment. The political change has mostly affected the relative labor market outcomes of women in households at the bottom of the pre-revolution income distribution. We link these findings to the literature showing how a relevant shock to the labor division between women and men may have long run consequences on the role of women in society.
    Keywords: Egyptian protests, women’s labor market outcomes, “martyrs”.
    Date: 2016–04–29
  11. By: Antoine Rebérioux (LADYSS - Laboratoire dynamiques sociales et recomposition des espaces - UP1 - Université Panthéon-Sorbonne - UPOND - Université Paris Ouest Nanterre La Défense - UP8 - Université Paris 8, Vincennes-Saint-Denis - UP7 - Université Paris Diderot - Paris 7 - CNRS - Centre National de la Recherche Scientifique); Gwenaël Roudaut (Ecole Polytechnique [Palaiseau] - Ecole Polytechnique)
    Abstract: This paper examines whether women’s situation within French boards has improved following the adoption of a board-level gender quota in 2011. To do so, we focus on the individual role of female directors as proxied by their fees. Our sample includes the listed companies belonging to the SBF120 index over the 2006-2014 period. We first show that the quota has succeeded in opening the doors of boardrooms to new, unseasoned female directors (not present on the director labor market before the regulation). These unseasoned female directors have distinctive characteristics (in terms of independence, experience, age, nationality, etc.) as compared to other board members. More importantly, we show that women, whether unseasoned or seasoned, experience an inner glass ceiling, with “positional” gender segregation within French boards. In particular, companies have failed so far to open the access of the most important board committees (namely monitoring committees: audit, compensation and nomination) to women. It results in a within-firm gender fees gap of 5%. Overall, the quota has rather amplified this segregation process, with an increase in the average within-firm gender fees gap.
    Keywords: board, committees, gender quota, segregation, director fees
    Date: 2016–03–31
  12. By: Serrano, Franklin (Federal University of Rio de Janeiro); Summa , Ricardo (Federal University of Rio de Janeiro)
    Abstract: In this paper we analyze the evolution of Brazilian inflation under the inflation targeting system from a cost-push perspective. We identify the main features of three quite distinct phases (1999-2003, 2004-2009 and 2010-2014) and explain them in terms of tradable price trends in local currency, changes in the dynamics of monitored prices and behavior of wage inflation. We conclude that the trend towards continuous nominal exchange rate devaluation after mid-2011, together with the strengthening of the bargaining power of workers and the trend of rising real wages since 2006, means that distributive conflicts in Brazil are getting much more intense. We also suggest that the apparently very irrational recent (early 2015) change in the orientation of economic policy towards contractionary fiscal, incomes and monetary policies in a stagnating economy seems to be ultimately based on the desire to weaken the bargaining power of workers that was much strengthened during the brief but intense Brazilian “golden age” of 2004-2010.
    Keywords: Cost-Push inflation; Inflation Target System; Functional Income Distribution; Brazilian Economy
    JEL: B51 E31 E58
    Date: 2015–11
  13. By: Holger Herz; Dmitry Taubinsky
    Abstract: People's fairness preferences are an important constraint for what constitutes an acceptable economic transaction, yet little is known about how these preferences are formed. In this paper, we provide clean evidence that previous transactions play an important role in shaping perceptions of fairness. Buyers used to high market prices, for example, are more likely to perceive high prices as fair than buyers used to low market prices. Similarly, employees used to high wages are more likely to perceive low wages as unfair. Our data further allows us to decompose this history dependence into the effects of pure observation vs. the experience of payoff-relevant outcomes. We propose two classes of models of path-dependent fairness preferences—either based on endogenous fairness reference points or based on shifts in salience—that can account for our data. Structural estimates of both types of models imply a substantial deviation from existing history-independent models of fairness. Our results have implications for price discrimination, labor markets, and dynamic pricing.
    JEL: C9 D0 J0 L1
    Date: 2016–10
  14. By: Sang-Chul Suh (Department of Economics, University of Windsor)
    Abstract: Despite decades of international negotiations, little progress has been made in reducing the level of the Green House Gases (GHGs) in the atmosphere. The understanding of the climate change problem in economic theory as an allocation failure of common resources is explained in "the tragedy of the commonsÉ by Hardin (1968). We start with a simple prisoners’ dilemma game (PD game) that represents the essence of Hardin’s "the tragedy of the commons". We argue that the PD game model is not adequate for explaining the failure of the climate negotiations. As an alternative explanation, we claim that countries’ irrational decision making, rather than misdirected incentives of rational countries in the PD game, is the main cause of the failure of climate negotiations. The irrationality of a government originates from ignoring the well-being of the poor and the future generations who are mostly excluded from the market activities, and hence receive the least economic benefit, contribute least to the climate problem, and yet are forced to pay most of the non-economic costs of climate change. The current paper tries to keep the resolution of the climate problem in the realm of economic discussion, while following Gardiner’s (2011) view that regards the issue of climate change as a moral problem of ignoring the wellbeing of the poor and the future generations. The immediate challenge of this approach is to measure the non-economic losses of the poor and the future generations due to climate change and to reflect them in climate change related decisions
    Keywords: Climate Change, Negotiation, Game, Irrationality, Income Inequality, Intergenerational Conflict.
    JEL: Q54 C72 D62
    Date: 2016–10
  15. By: Parrinello, Sergio (Università degli Studi di Roma "La Sapienza" (La Sapienza University of Rome))
    Abstract: This paper is concerned with certain conditions under which an autonomous intended change in demand becomes effective. A simple model describes an economy, which initially is assumed in a steady state characterized by a given conventional wage rate, a uniform rate of profit and the existence of obsolete machines which are still used and receive quasi-rents, although not produced anymore. Small changes in effective demand, allowed by variable capacity utilization of fixed capital at given prices, are distinguished from large changes which affect the relative prices of commodities and the distribution of income. In both cases the steady state and the adjustment process towards a new steady state are compatible with unemployment; but large effective changes in demand require a higher flexibility of capacity utilization, compared with small changes. This occurs through a deviation of prices and income distribution from their normal values and a change in quasi rents, which make profitable a change in the types and the amounts of the obsolete machines in use. The distinction stressed in the paper is preliminary to the further distinction between impulse-wise and persistent changes in the rates of growth of demand, that is left as a research agenda.
    Keywords: growth; Keynesian analysis; capacity utilization; obsolete capital goods; long and short period analysis
    JEL: B50 E22 O40
    Date: 2014–12
  16. By: Tanzarn, Nite.; Gutierrez, Maria Teresa.
    Abstract: The results of the study reveal that Programmes such as South Africa’s Expanded Public Works Programme, which include components of child and other social care, alleviate the burden of unpaid care work mostly undertaken by women. That way, they free their time/labour to participate in activities in paid market work.
    Keywords: employment creation, gender mainstreaming, gender equality, public sector, womens empowerment, ILO Programme, programme planning, plan implementation, role of ILO, Africa, Asia, Caribbean, Latin America, création d'emploi, intégration de la dimension de genre, égalité des genres, secteur public, autonomisation des femmes, programme de l'OIT, planification de programmes, réalisation du plan, rôle de l'OIT, Afrique, Asie, Caraïbes, Amérique latine, creación de empleos, integración de la perspectiva de género, igualdad de géneros, sector público, potenciación de las mujeres, programa de la OIT, planificación de programas, realización del plan, papel de la OIT, Africa, Asia, Caribe, América Latina
    Date: 2015
  17. By: Philippe Polomé (GATE Lyon Saint-Étienne - Groupe d'analyse et de théorie économique - CNRS - Centre National de la Recherche Scientifique - UCBL - Université Claude Bernard Lyon 1 - UL2 - Université Lumière - Lyon 2 - Université Jean Monnet - Saint-Etienne - PRES Université de Lyon - ENS Lyon - École normale supérieure - Lyon)
    Abstract: The results of a survey of private forest owners on adoption of a number of current programs, that include biodiversity protection to some degree, are presented. Adoption amounts to 22% for all the programs jointly, and is shown to depend on economic, social and ethical motives, with significant crowding-out between the economic and ethical motives, but not with social motives. Adoption of each program is strongly negatively correlated to each other. Nearly no respondent adopted the Natura 2000 program. The results constitute a test of the " reputational crowding-out " theory of Bénabou and Tirole (2006)
    Keywords: adoption decision, motivation crowding-out,Non-indutrial private forest owner, biodiversity program
    Date: 2016–05–30
  18. By: Troels Krarup (Sciences Po)
    Abstract: European integration of financial markets appears to repeatedly encounter specific kinds of problems about the substance and limits of the notion of “the market” undergoing integration, and about the status and role of money, market infrastructures, and government within it. Moreover, these problems and the controversies around them parallel classical discussions in economic theory such as that between conceptions of the market as a frictionless space and as a process of competition. A “competitive conception of the market” is identified as producing these parallel problems and controversies in European market integration and economic theory because it implies a contradictory “integration of fragmentation.” These themes and parallels can be specifically identified in a recent major project to integrate financial market infrastructures: a pan-European settlement platform – “Target2-Securities (T2S)” – to overcome existing fragmentation between the systems that perform the actual delivery of money and securities from financial transactions. Moreover, a close analysis of T2S answers a question that existing sociological and political economy approaches to European integration – focusing primarily on the interests and ideas of powerful players – struggle with: why T2S will become de facto a monopoly for the European Central Bank when early on in the integration process EU institutions emphasized an industry-led integration. Foucault’s notion of “discursive formation” is employed to conceptualize these arguments.
    Keywords: European integration; financial markets; financial infrastructures; money
    Date: 2016–07
  19. By: Pierre-Henri Faure (Larefi - Laboratoire d'analyse et de recherche en économie et finance internationales - Université Montesquieu - Bordeaux 4)
    Abstract: La multiplication sur Internet des nouveaux instruments de paiement virtuels recourant à la cryptographie interpelle aujourd’hui les économistes sur leur conception de la monnaie, en même temps qu’elle remet en question l’organisation pyramidale du système bancaire. Leur émission privée et leur circulation dans des réseaux pair-à-pair, au sein desquels n’existe plus aucun tiers de confiance désigné, contestent en effet l’ordre monétaire fondé sur le crédit et les banques centrales. Le présent papier s’intéresse au bitcoin, le plus emblématique de ces instruments virtuels, et traite la question de savoir s’il peut être réellement considéré comme une monnaie au sens où l’entendent les économistes. Il apparaît en première analyse qu’il ne remplit que très imparfaitement les trois fonctions qui lui sont habituellement dévolues et qu’il s’apparente surtout à un actif financier. Le bitcoin est ensuite étudié à partir de l’approche réaliste en privilégiant le point de vue de l’école économique autrichienne, compte tenu du soubassement intellectuel des idées défendues par ses promoteurs ; dans ce cadre, deux points sont plus particulièrement abordés : sa compatibilité avec le théorème de régression puis la comparaison des projets actuels avec la proposition hayékienne de dénationalisation des monnaies. Le cas du bitcoin est enfin examiné dans la perspective du paradigme hétérodoxe qui combine la conception institutionnaliste et la pensée post-keynésienne. En conclusion, s’il peut être vu comme une sorte de mise à l’épreuve des thèses autrichiennes, son caractère totalement exogène et son incapacité à satisfaire les différentes formes de confiance qui sont indispensables à la légitimation de la monnaie conduisent à lui refuser ce qualificatif dans la grille de lecture institutionnaliste.
    Keywords: bitcoin, cryptomonnaie, école autrichienne, institutionnalisme, post-keynésianisme
    Date: 2016
  20. By: Nicolás Ronderos Pulido
    Abstract: Este trabajo propone una nueva metodología para identificar la existencia de contagio durante la crisis Asiática de 1997 y la crisis mexicana de 1994, usando la prueba de causalidad de Granger en el dominio de la frecuencia propuesta por Breitung y Candelon (2006). Se encuentra evidencia de contagio e interdependencia intrarregional e interregional durante dichas crisis. La metodología permite analizar los resultados teniendo en cuenta las diversas definiciones de contagio de forma unificada y a su vez obtener resultados robustos ante los problemas de medición del contagio enunciados en la literatura.
    Keywords: Contagio, Interdependencia, Causalidad, Análisis espectral
    JEL: G1 C5 C14
    Date: 2016–06–03
  21. By: Amarante, Verónica; Colacce, Maira; Manzi, Pilar
    Abstract: En esta publicación se analizan las diferencias de género en el acceso y nivel de las jubilaciones y pensiones, tanto contributivas como no contributivas, a la luz del diseño del sistema de seguridad social de cada país. El estudio se realiza para un conjunto de países del Cono Sur cuyos sistemas de pensiones tienen niveles de desarrollo similares, y han sufrido algunas modificaciones recientes: Argentina, Brasil, Chile y Uruguay.
    Date: 2016–10
  22. By: Panico, Carlo (Università degli Studi di Napoli "Federico II" (Federico II University of Naples)); Pinto, Antonio (Università degli Studi di Napoli "Federico II" (Federico II University of Naples))
    Abstract: The paper deals with the influence of the size of financial industry on income distribution. In opposition to Piketty’s position, it argues that the wage share is influenced by changes in the size of the sectors of the economy, by the input composition of the productive structure and by the ability of the workers to capture the increases in productivity. The process of financialization experienced in the recent decades has affected these three elements. Among other things, it has enhanced the ability of the banking industry to affect the formation of monetary policy and legislation, which in turn can have had some bearing on the workers’ ability to appropriate the increases in productivity. After describing Piketty’s interpretation of the rise in inequality and discuss his views on the theories of distribution, the paper illustrates different representations of the financial sector proposed by the literature, underlining the relevance of considering this sector as an industry. By following these lines the pa-per describes how an enlarged size of the banking industry can increase inequality.
    Keywords: Income distribution; growth; financial industry; financialization; multi-sectorial models
    JEL: D30 E10 E44 G20
    Date: 2015–12
  23. By: Pascal Seppecher (CEPN - Centre d'Economie de l'Université Paris Nord - Université Paris 13 - USPC - Université Sorbonne Paris Cité - CNRS - Centre National de la Recherche Scientifique, GREDEG - Groupe de Recherche en Droit, Economie et Gestion - UNS - Université Nice Sophia Antipolis - CNRS - Centre National de la Recherche Scientifique); Isabelle Salle (CeNDEF - Center for Nonlinear Dynamics in Economics and Finance - Universiteit van Amsterdam, Utrecht School of Economics - Utrecht University [Utrecht]); Dany Lang (CEPN - Centre d'Economie de l'Université Paris Nord - Université Paris 13 - USPC - Université Sorbonne Paris Cité - CNRS - Centre National de la Recherche Scientifique)
    Abstract: This paper proposes to model market mechanisms as a collective learning process for firms in a complex adaptive system, namely Jamel, an agent-based, stock-flow consistent macroeconomic model. Inspired by Alchian's (1950) " blanketing shotgun process " idea, our learning model is an ever-adapting process that puts a significant weight on exploration vis-à-vis exploitation. We show that decentralized market selection allows firms to collectively adapt their overall debt strategies to the changes in the macroeconomic environment so that the system sustains itself, but at the cost of recurrent deep downturns. We conclude that, in complex evolving economies, market processes do not lead to the selection of optimal behaviors, as the characterization of successful behaviors itself constantly evolves as a result of the market conditions that these behaviors contribute to shape. Heterogeneity in behavior remains essential to adaptation in such an ever-changing environment. We come to an evolutionary characterization of a crisis, as the point where the evolution of the macroeconomic system becomes faster than the adaptation capabilities of the agents that populate it, and the so far selected performing behaviors suddenly cease to be, and become instead undesirable.
    Keywords: Firm adaptation,Learning,Evolutionary Economics
    Date: 2016–04–28
  24. By: Bandiera, Oriana; Burgess, Robin; Das, Narayan; Gulesci, Selim; Rasul, Imran; Sulaiman, Munshi
    Abstract: We study how women's choices over labor activities in village economies correlate with poverty and whether enabling the poorest women to take on the activities of their richer counterparts can set them on a sustainable trajectory out of poverty. To do this we conduct a large-scale randomized control trial, covering over 21,000 households in 1,309 villages surveyed four times over a seven year period, to evaluate a nationwide program in Bangladesh that transfers livestock assets and skills to the poorest women. At baseline, the poorest women mostly engage in low return and seasonal casual wage labor while wealthier women solely engage in livestock rearing. The program enables poor women to start engaging in livestock rearing, increasing their aggregate labor supply and earnings. This leads to asset accumulation (livestock, land and business assets) and poverty reduction, both sustained after four and seven years. These gains do not crowd out the livestock businesses of noneligible households while the wages these receive for casual jobs increase as the poor reduce their labor supply. Our results show that: (i) the poor are able to take on the work activities of the non-poor but face barriers to doing so, and, (ii) one-off interventions that remove these barriers lead to sustainable poverty reduction.
    JEL: J22 O12
    Date: 2016–10
  25. By: Bandiera, Oriana.; Buehren, Niklas.; Burgess, Robin.; Goldstein, Markus.; Gulesci, Selim.; Rasul, Imran.; Sulaiman, Munshi.
    Abstract: The following paper Women’s economic empowerment in action: Evidence from a randomized control trial in Africa by Oriana Bandiera et al. evaluates a programme delivered by the international NGO, BRAC called “Empowerment and Livelihood for Adolescents”.
    Keywords: womens empowerment, youth employment, social role, educational needs, vocational training, Uganda, autonomisation des femmes, emploi des jeunes, rôle social, besoins d'éducation, formation professionnelle, Ouganda, potenciación de las mujeres, empleo de jóvenes, papel social, necesidades de educación, formación profesional, Uganda
    Date: 2015
  26. By: Fabien Eloire (CLERSE - Centre lillois d'études et de recherches sociologiques et économiques - CNRS - Centre National de la Recherche Scientifique - Université de Lille, Sciences et Technologies); Claire Lemercier (CSO - Centre de sociologie des organisations - Sciences Po - CNRS - Centre National de la Recherche Scientifique); Veronica Aoki Santarosa (University of Michigan [Ann Arbor])
    Abstract: This working paper gives the preliminary results of a research project on the uses of notarized powers of attorney in four large French commercial cities in the 18th and 19th centuries. Powers of attorney are often considered as symptoms of trust. We use them to test hypotheses on the embeddedness of commercial relationships. We find little support for the idea of an evolution from embedded to anonymous relationships. We therefore explore alternative hypotheses centered on the complementarity between embeddedness and formality; the importance of repeated interactions; and a broad homophily driving merchants to choose fellow merchants as proxies.
    Keywords: power of attorney,form of proxy,merchants,procuration,mandat,notaires
    Date: 2016–03–01
  27. By: Marco, Flavia
    Abstract: Este estudio ilustra las desigualdades de género en los sistemas de pensiones de América Latina, profundizando en las reformas implementadas luego de una primera ola reformista prevaleciente en la década de los noventa y por la cual se instalaron componentes de capitalización individual y contribución definida. Como consecuencia de las deficiencias identificadas tras esta primera generación de reformas se han empezado a llevar a cabo reformas de segunda generación. El estudio analiza las causas que dieron lugar a las reformas de segunda generación ocurridas en el Estado Plurinacional de Bolivia, Costa Rica, Chile y el Uruguay, y los cambios introducidos. Asimismo, se incluyen las reformas sucedidas en la Argentina y el Ecuador. También se analiza el proceso en marcha en Chile para una nueva reforma. Los objetivos del estudio son identificar y caracterizar las brechas de género en los sistemas previsionales de la región, indagando en los factores que las originan y explorando hasta qué punto reformas de segunda generación en la región permitieron mitigarlas. Con ello se espera aportar a la discusión sobre las mejores medidas que permitan transversalizar una perspectiva de igualdad de género en el funcionamiento de estos sistemas, indagando en los réditos de nuevos ciclos de reformas estructurales e identificando lecciones aprendidas de los procesos de reforma de primera y segunda generación.
    Date: 2016–10–15
  28. By: Eloi Laurent (Observatoire français des conjonctures économiques)
    Abstract: This article highlights the challenge of environmental inequality in France within the framework of social-ecology, an approach relating ecological crises to social issues, especially inequality. It starts by defining the notions of environmental inequality and environmental justice within the framework of the ‘capability approach’ and then reviews recent empirical studies that show how air pollution, chemical and noise pollutions, access to environmental resources and exposure to social-ecological disasters are socially differentiated in France and can be understood, under the definition adopted in this article, as a form of injustice. It concludes by reviewing issues raised by environmental inequality in France and exploring policy solutions able to address this challenge.
    Keywords: Environmental inequality; Air pollution; Risk noise and chemical pollution
    Date: 2014–11
  29. By: Quentin Lippmann (PSE - Paris School of Economics); Alexandre Georgieff (PSE - Paris-Jourdan Sciences Economiques - CNRS - Centre National de la Recherche Scientifique - INRA - Institut National de la Recherche Agronomique - EHESS - École des hautes études en sciences sociales - ENS Paris - École normale supérieure - Paris - École des Ponts ParisTech (ENPC), PSE - Paris School of Economics); Claudia Senik (PSE - Paris-Jourdan Sciences Economiques - CNRS - Centre National de la Recherche Scientifique - INRA - Institut National de la Recherche Agronomique - EHESS - École des hautes études en sciences sociales - ENS Paris - École normale supérieure - Paris - École des Ponts ParisTech (ENPC), PSE - Paris School of Economics, UP4 - Université Paris-Sorbonne)
    Abstract: Social scientists have provided empirical evidence that "gender trumps money", in the sense that gender norms can be more powerful then economic rationality in shaping daily arrangements between spouses. In particular, it has been shown that when they deviate from the "male breadwinner" norm, women react by "doing gender", i.e. overplaying their feminine role by increasing the number of housework hours that they accomplish. It has also been shown that the risk of divorce increases when a woman earns more than her husband. This paper shows that, however powerful, these norms are cultural and can be trumped by institutions. We use the 41-year division of Germany as a natural experiment and look at differences between East and West Landers in terms of gender behavior after the German reunification. As most countries of the socialist bloc, the former GDR had designed institutions that were much more gender equalizing than their counterpart in the former FRG. We show that these institutions have created a culture that keeps influencing behavior up to the current period. In particular, East Germany differs from West Germany in the sense that a woman can earn more than her husband without "doing gender" and without putting her marriage at risk.
    Keywords: Gender norms,Culture,Institutions,German Division,Household economics
    Date: 2016–04
  30. By: Oelz, Martin.; Rani, Uma.
    Keywords: domestic work, women workers, labour market, minimum wage, sex discrimination, labour standards, compliance, role of ILO, developing countries, travail domestique, travailleuses, marché du travail, salaire minimum, discrimination fondée sur le sexe, normes du travail, respect des obligations, rôle de l'OIT, pays en développement, trabajo doméstico, trabajadoras, mercado de trabajo, salario mínimo, discriminación por razones de sexo, normas del trabajo, cobranza coactiva, papel de la OIT, países en desarrollo
    Date: 2015
  31. By: Grimshaw, Damian.; Rubery, Jill.
    Keywords: wage differential, working mother, maternity, men workers, wage determination, wage structure, family responsibilities, disparité des salaires, mère exerçant un emploi, maternité, travailleurs masculins, fixation du salaire, structure du salaire, responsabilités familiales, diferencia del salario, trabajadora madre de familia, maternidad, trabajadores masculinos, determinación del salario, estructura salarial, responsabilidades familiares
    Date: 2015
  32. By: Paulin Ibanda Kabaka (LAM - Les Afriques dans le monde - Sciences Po - CNRS - Centre National de la Recherche Scientifique, UPPA - Université de Pau et des Pays de l'Adour)
    Abstract: Faire progresser la parité entre les hommes et les femmes dans toutes les sphères de la vie nationale devrait s'inscrire dans le cadre des actions à mettre en place par tout gouvernement recherchant le respect les droits de l'Homme dans son ensemble.
    Keywords: Parité, homme, femme, droits de l'homme, droits des femmes, fonction publique, égalité,France
    Date: 2016–04–23
  33. By: Yuta Inoue (Graduate School of Economics, Waseda University); Koji Shirai (School of Economics, Kwansei Gakuin University)
    Abstract: This paper develops revealed preference tests for choices under limited consideration, allowing a partially observed data set. Our tests cover leading theories in the literature including the limited attention model, the rationalization model, the categorize-then-choose model, and the rational shortlisting model. It is worth noting that all our tests exploit a common structure of limited consideration models. We start from a data set collected from a single agent, and then extend the analysis to panel data in which the coincidence of consideration sets/preferences of agents are tested.
    Keywords: Revealed preference, Limited consideration, Limited attention, Rational shortlisting, Categorization, Bounded rationality
    JEL: C6 D1 D8
    Date: 2016–10

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