|
on Heterodox Microeconomics |
|
Issue of 2017‒06‒25
fifteen papers chosen by Carlo D’Ippoliti Università degli Studi di Roma “La Sapienza” |
| By: | Colombatto, Enrico; Tavormina, Valerio |
| Abstract: | This paper focuses on the legitimacy of private property and analyses the process of first appropriation. In particular, we examine and comment the different views on the origin of private property rights that have emerged through the history of economic and legal thinking, from Democritus to de Jasay. These views have been grouped in two broad categories: consequentialism and fundamental principles. Although consequentialism is now dominant among economists and inchoate in the legal profession, we observe that it is in fact an alibi for discretionary policymaking by the authority. By definition, fundamentalist approaches generate rules that limit discretion. However, we show that some fundamental views rest on questionable a-priori statements. De Jasay’s argument based on the presumption of liberty is perhaps the only perspective that escapes this criticism. |
| Keywords: | Private property, Consequentialism, Natural rights, Appropriation, Intellectual property |
| JEL: | K11 B15 B25 B52 |
| Date: | 2017–06 |
| URL: | http://d.repec.org/n?u=RePEc:uca:ucaiel:24&r=hme |
| By: | Juan Pablo Mateo (Department of Economics, New School for Social Research and University of Valladolid) |
| Abstract: | The measure of capital profitability in the Spanish economy is relevant because of both a process of capital accumulation since mid-nineties largely driven by asset-price inflation, as well as the deep economic crisis since late 2008. Therefore, in this article a comparative analysis is carried out using different databases and measures of the rate of profit, incorporating the financial sphere and addressing other different countries of the Eurozone. It shows the scope of the underlying valorization crisis in relation to previous decades and in terms of its fall experienced during the years not only of the housing boom, but also throughout the subsequent recession. In addition, this drop in profitability stands out in relation to other economies of the European periphery. Hence, this analysis puts the rate of profit at the center of the debate on the Great Recession in Spain, despite its absence in much of the economic literature, including heterodox approaches. |
| Keywords: | Profit rate, interest rates, Spain, Eurozone |
| JEL: | F60 E01 E32 E40 O52 |
| Date: | 2017–06 |
| URL: | http://d.repec.org/n?u=RePEc:new:wpaper:1721&r=hme |
| By: | Santos, Susana |
| Abstract: | A Social Accounting Matrix (SAM) is presented as a tool to study the socio-economic activity of a country. This activity involves the monetary or nominal flows that are measured by the National Accounts, as well as production (organized in factors, industries and goods and services) and institutions (organized in households, general government, non-financial and financial corporations, non-profit institutions serving households, and rest of the world). In order to contribute to the definition of a methodology that can contribute to improving the knowledge of the different aspects of this activity, the potentialities of a SAM for its reading and interpreting are explored, as well as for carrying out experiments regarding its functioning. Through a SAM-based approach, how to construct more or less complex networks of linkages of the above-mentioned flows is shown, from which structural features can be evidenced and the associated multiplier effects studied. Following an application to Portugal, it is shown that a numerical version of a SAM, enables an empirical description of the origin, use, and distribution of income, whereas, an algebraic version of a SAM allows one to carry out, for example, a deeper study of the multiplier effects associated with the institutional distribution of income. The crucial role of the factors of production accounts is identified in this study, namely when they establish the link between the generation and the distribution and use of income. In this process, the important role the complementary details that the Input-Output Matrix (IOM) can add is also identified. Thus, being the generation of income the result of the output of goods and services and the associated costs, on the one hand, an industry-by-industry IOM can add details regarding domestic and imported intermediate consumption by and between industries and, on the other hand, a product-by-product IOM can add details regarding the domestic and imported intermediate consumption of goods and services. |
| Keywords: | Social Accounting Matrix; National Accounts; SAM-based approach; socio-economic structure; Input-Output Matrix; Income Distribution. |
| JEL: | D57 E01 E02 E16 E25 |
| Date: | 2017–06 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:79727&r=hme |
| By: | Uchida, Yoko; Oyamada, Kazuhiko |
| Abstract: | This paper introduces the existing multiregional Input-Output (MRIO) Tables i.e., IDE, ADB, OECD, and GTAP with special attention to the method of constructing import matrix. Also, the similarities and differences among the four MRIO Tables are studied in this paper, setting the IDE table as the benchmark. From the results of comparison of major economic indicators with WDI, IDE and OECD shows similarity to WDI, compared to GTAP and ADB. However, TiVA indicators show considerably different values in motor vehicles and motorcycles in Indonesia. Whereas there is some possibilities Indonesia’s TiVA is overestimation, it can be said that the IDE table might captures the proper production structure. In order to understand the reason why different value in the IDE table occurs, an additional survey on import demand might be required. |
| Keywords: | Input-output tables,International trade,Multiregional Input-Output,Fragmentation,Trade in Value Added measure |
| JEL: | C67 F00 |
| Date: | 2017–03 |
| URL: | http://d.repec.org/n?u=RePEc:jet:dpaper:dpaper663&r=hme |
| By: | Raquel Tebaldi (IPC-IG); Mariana Hoffmann (IPC-IG); Maja Gavrilovic (IPC-IG) |
| Abstract: | "The second webinar in the 'Gender-Sensitive Social Protection' series explored the potential of social protection to contribute to the empowerment of rural women, focusing on the African region. Amber Peterman discussed the evidence behind two common assumptions underpinning the targeting of cash transfer programmes: that targeting women as the recipients of benefits will lead to spending cash in a more 'family-friendly' way, and that social protection programmes will necessarily empower beneficiary women. In both instances, where rigorous studies exist, the current evidence is mixed". (?) |
| Keywords: | Social protection. empowerment, rural, women, Africa |
| Date: | 2016–12 |
| URL: | http://d.repec.org/n?u=RePEc:ipc:opager:341&r=hme |
| By: | Foster, Gigi (University of New South Wales); Stratton, Leslie S. (Virginia Commonwealth University) |
| Abstract: | The time allocated to household chores is substantial, with the burden falling disproportionately upon women. Further, social norms about how much work men and women should contribute in the home are likely to influence couples' housework allocation decisions and evaluations of their lot. Using Australian data, we employ a two-stage estimation procedure to examine how deviations from housework norms relate to couples' satisfaction. In stage one, we model housework time to identify predicted (i.e., socially expected) and residual components. In support of this bifurcation, the residual housework time measures are strongly related to each partner's perceived fairness of the division of household tasks. In stage two, we predict satisfaction based on predicted and residual housework time. We find that women's satisfaction, but not men's, is robustly affected by their partners' residual housework time. When he exceeds housework norms, she is happier with housework allocations, but less happy in broader dimensions. |
| Keywords: | satisfaction, social norms, housework |
| JEL: | D13 I31 Z13 |
| Date: | 2017–06 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp10832&r=hme |
| By: | Zlata Bruckauf; Gwyther Rees; UNICEF Office of Research - Innocenti |
| Abstract: | Evidence from national studies in developed and developing countries suggests that girls spend more time on housework. The most common explanation relates to behaviour modelling as a mechanism of gender role reproduction: children form habits based on parental models. This brief shows that participation in household chores is an essential part of children’s lives. There is a common pattern of a gender gap between boys’ and girls’ daily participation in housework across a diverse range of socio-economic and cultural contexts in 12 high-income countries. The persistence of this gap points to gender stereotyping – a form of gender role reproduction within a family that potentially can reinforce inequalities over the life-course. |
| Keywords: | child well-being; gender equality; household surveys; households; learning; socialization of children; |
| Date: | 2017 |
| URL: | http://d.repec.org/n?u=RePEc:ucf:inores:inores898&r=hme |
| By: | Foster, Gigi (University of New South Wales); Stratton, Leslie S. (Virginia Commonwealth University) |
| Abstract: | We examine how men and women in mixed-gender unions change the time they allocate to housework in response to labor market promotions and terminations. Operating much like raises, such events have the potential to alter intra-household power dynamics. Using Australian panel data, we estimate couple-specific fixed effects models and find that female promotion has the strongest association with housework time allocation adjustments. These adjustments are in part attributable to concurrent changes in paid work time, but gender power relations also appear to play a role. Further results indicate that households holding more liberal gender role attitudes are more likely to adjust their housework time allocations after female promotion events. Power dynamics cannot, however, explain all the results. Supporting the sociological theory that partners may 'do gender', we find that in households with more traditional gender role attitudes, his housework time falls while hers rises when he is terminated. |
| Keywords: | intra-household allocation, time use, gender, housework |
| JEL: | D13 J10 |
| Date: | 2017–06 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp10831&r=hme |
| By: | Bettina Gatt (IPC-IG) |
| Abstract: | "The fourth webinar in the 'Gender-Sensitive Social Protection' series explored the potential of social protection to contribute to the empowerment of rural women, focusing on financial inclusion programmes in Latin America. It was held on 30 November 2016, in Spanish, for a Latin American audience and featured contributions from Paola Bustamante Suárez (former Minister of Development and Social Inclusion from Peru), Magdalena Mayorga (Advisor to the Chairman of the Board of BanEcuador BP) and Soledad Parada (FAO)". (...) |
| Keywords: | Social protection, financial, inclusion, rural, women, family farming, Latin America |
| Date: | 2017–04 |
| URL: | http://d.repec.org/n?u=RePEc:ipc:opager:350&r=hme |
| By: | Fortin, Nicole M. (University of British Columbia, Vancouver); Bell, Brian (King's College London); Böhm, Michael Johannes (University of Bonn) |
| Abstract: | This paper explores the consequences of the under-representation of women in top jobs for the overall gender pay gap. Using administrative annual earnings data from Canada, Sweden, and the United Kingdom, it applies the approach used in the analysis of earnings inequality in top incomes, as well as reweighting techniques, to the analysis of the gender pay gap. The analysis is supplemented by classic O-B decompositions of hourly wages using data from the Canadian and U.K. Labour Force Surveys. The paper finds that recent increases in top earnings led to substantial "swimming upstream" effects, therefore accounting for differential progress in the gender pay gap across time periods and a growing share of the gap unexplained by traditional factors. |
| Keywords: | earnings inequality, top incomes, gender pay gap |
| JEL: | J15 J16 J70 |
| Date: | 2017–06 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp10829&r=hme |
| By: | Shulamit Kahn; Donna Ginther |
| Abstract: | Researchers from economics, sociology, psychology, and other disciplines have studied the persistent under-representation of women in science, technology, engineering, and mathematics (STEM). This chapter summarizes this research. We argue that women’s under-representation is concentrated in the math-intensive science fields of geosciences, engineering, economics, math/computer science and physical science. Our analysis concentrates on the environmental factors that influence ability, preferences, and the rewards for those choices. We examine how gendered stereotypes, culture, role models, competition, risk aversion, and interests contribute to gender STEM gap, starting at childhood, solidifying by middle school, and affecting women and men as they progress through school, higher education, and into the labor market. Our results are consistent with preferences and psychological explanations for the under-representation of women in math-intensive STEM fields. |
| JEL: | I24 J16 J24 J3 |
| Date: | 2017–06 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:23525&r=hme |
| By: | Raquel Tebaldi (IPC-IG); Flora Myamba (IPC-IG) |
| Abstract: | "Social protection has become prominent in the global development agenda over recent decades, with social protection systems now being included as a target under Sustainable Development Goal 1: 'End poverty in all its forms everywhere'. In developing countries, these policies have played an important role in alleviating extreme poverty, among other impacts that are increasingly being investigated. Beyond the improvement of the material conditions of beneficiaries, measures that take into account the power dynamics and inequalities within households and communities are needed for social protection programmes to properly address gender inequality in a transformative way. This special edition of Policy in Focus, which is auspiciously being released for International Women's Day 2017, covers key topics related to gender equality and social protection, featuring a wide range of contributions from women policy practitioners and scholars, presenting case studies and reflections from Brazil and various African countries". (...) |
| Keywords: | Social protection, gender, equality |
| Date: | 2017–03 |
| URL: | http://d.repec.org/n?u=RePEc:ipc:ifocus:38&r=hme |
| By: | Jorge A. Chan-Lau |
| Abstract: | A thorough analysis of risks in the banking system requires incorporating banks’ inherent heterogeneity and adaptive behavior in response to shocks and changes in business conditions and the regulatory environment. ABBA is an agent-based model for analyzing risks in the banking system in which banks’ business decisions drive the endogenous formation of interbank networks. ABBA allows for a rich menu of banks’ decisions, contingent on banks’ balance sheet and capital position, including dividend payment rules, credit expansion, and dynamic balance sheet adjustment via risk-weight optimization. The platform serves to illustrate the effect of changes on regulatory requirements on solvency, liquidity, and interconnectedness risk. It could also constitute a basic building block for further development of large, bottom-up agent-based macro-financial models. |
| Date: | 2017–06–09 |
| URL: | http://d.repec.org/n?u=RePEc:imf:imfwpa:17/136&r=hme |
| By: | Eloi Laurent (Observatoire français des conjonctures économiques) |
| Abstract: | Cet article se propose de discuter la pertinence de l’unité actuelle des négociations climatiques : la tonne de CO2. Après avoir montré les limites fondamentales de cette approche par les quantités au regard des dynamiques passées, actuelles et prévisibles d’émissions de gaz à effet de serre, l’article propose de développer en vue de la COP 21 les jalons d’une approche par le prix du carbone. Celle-ci ouvre sur une négociation ayant pour fondement la valeur sociale du carbone qui renvoie aux enjeux de justice intra-générationnelle et intergénérationnelle dont la mise en lumière est susceptible de faire progresser des négociations climatiques encore trop peu avancées. |
| Keywords: | Négociation; Climat; Prix du carbone |
| Date: | 2015–10 |
| URL: | http://d.repec.org/n?u=RePEc:spo:wpmain:info:hdl:2441/3qdig6e43o821robjnpoop1teu&r=hme |
| By: | Charles J. Whalen |
| Abstract: | Since the death of Hyman Minsky in 1996, much has been written about financialization. This paper explores the issues that Minsky examined in the last decade of his life and considers their relationship to that financialization literature. Part I addresses Minsky's penetrating observations regarding what he called money manager capitalism. Part II outlines the powerful analytical framework that Minsky used to organize his thinking and that we can use to extend his work. Part III shows how Minsky's observations and framework represent a major contribution to the study of financialization. Part IV highlights two keys to Minsky's success: his treatment of economics as a grand adventure and his willingness to step beyond the world of theory. Part V concludes by providing a short recap, acknowledging formidable challenges facing scholars with a Minsky perspective, and calling attention to the glimmer of hope that offers a way forward. |
| Keywords: | Hyman Minsky; Money Manager Capitalism; Financialization |
| JEL: | B31 B52 G |
| Date: | 2017–06 |
| URL: | http://d.repec.org/n?u=RePEc:lev:wrkpap:wp_892&r=hme |