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on Heterodox Microeconomics |
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Issue of 2018‒09‒24
24 papers chosen by Carlo D’Ippoliti Università degli Studi di Roma “La Sapienza” |
| By: | Bernhard Schuetz (Institute for Comprehensive Analysis of the Economy, Johannes Kepler University Linz, Austria) |
| Abstract: | When discussing the employment effects of minimum wages, mainstream economic discussion as well as mainstream economics textbooks mainly center around two variations of the neoclassical model: the model of the competitive and the monopsonistic labor market. The current paper offers a different perspective: it provides an assessment of the broader variety of existing theories and develops a new theoretical account which integrates these different views. For the comparison as well as for the later integration of these theories, it draws on an evolutionary economic concept: a micro-meso-macro framework. Here it shows that due to its simple structure and conceptual flexibility, the micro-meso-macro framework is very well suited to the task of integrating these different theoretical visions as well as assessing their evolutionary features. It follows from the analysis that from a theoretical viewpoint, the effect of the minimum wage on employment is indeed ambiguous, which is perfectly in line with the existing empirical evidence. |
| Date: | 2018–07 |
| URL: | http://d.repec.org/n?u=RePEc:ico:wpaper:81&r=hme |
| By: | John B. Davis (Department of Economics Marquette University) |
| Abstract: | This chapter examines the nature of ethics and economics as a single subject of investigation, and uses a complex systems approach to characterize the nature of that subject. It then distinguishes mainstream economic and social economic visions of it, where the former assumes that market processes encompass social processes, and the latter assumes that market processes are embedded in social processes. For each vision, string and weak theses are compared. Both visions are first explained in terms of their respective views of the positive-normative distinction, then in terms of a central normative principle, and then in terms of their policy strategies. The chapter closes with comments on the future status of ethics and economics as a single subject of investigation. |
| Keywords: | ethics and economics, complex systems, mainstream economics, social economics, positive-normative distinction, efficiency, externalities, cost-benefit, capabilities, 'off limits,' 'taming the market' |
| JEL: | A12 A13 B41 |
| Date: | 2018–05 |
| URL: | http://d.repec.org/n?u=RePEc:mrq:wpaper:2018-01&r=hme |
| By: | Mongin, Philippe (GREGHEC; CNRS & HEC Paris - Economics & Decision Sciences) |
| Abstract: | Whereas many others have scrutinized the Allais paradox from a theoretical angle, we study the paradox from an historical perspective and link our findings to a suggestion as to how decision theory could make use of it today. We emphasize that Allais proposed the paradox as a normative argument, concerned with "the rational man" and not the "real man", to use his words. Moreover, and more subtly, we argue that Allais had an unusual sense of the normative, being concerned not so much with the rationality of choices as with the rationality of the agent as a person. These two claims are buttressed by a detailed investigation – the first of its kind – of the 1952 Paris conference on risk, which set the context for the invention of the paradox, and a detailed reconstruction – also the first of its kind – of Allais's specific normative argument from his numerous but allusive writings. The paper contrasts these interpretations of what the paradox historically represented, with how it generally came to function within decision theory from the late 1970s onwards: that is, as an empirical refutation of the expected utility hypothesis, and more specifically of the condition of von Neumann-Morgenstern independence that underlies that hypothesis. While not denying that this use of the paradox was fruitful in many ways, we propose another use that turns out also to be compatible with an experimental perspective. Following Allais's hints on "the experimental definition of rationality", this new use consists in letting the experiment itself speak of the rationality or otherwise of the subjects. In the 1970s, a short sequence of papers inspired by Allais implemented original ways of eliciting the reasons guiding the subjects' choices, and claimed to be able to draw relevant normative consequences from this information. We end by reviewing this forgotten experimental avenue not simply historically, but with a view to recommending it for possible use by decision theorists today. |
| Keywords: | Allais Paradox; Decision Theory; Expected Utility Theory; Experimental Economics; Positive vs Normative; Rationality; 1952 Paris Conference; Allais; Von Neumann and Morgenstern; Samuelson; Savage |
| JEL: | B21 B31 B41 C91 D80 |
| Date: | 2018–06–01 |
| URL: | http://d.repec.org/n?u=RePEc:ebg:heccah:1299&r=hme |
| By: | Reich, Utz Peter; Santos, Susana |
| Abstract: | Unconditional basic income is not a new topic in political economy, and it gains new momentum as more and more research is being devoted to it. The discussion focusses on the adequacy and effects such a policy measure may entail for a person and his socio-economic situation, usually. Object of investigation is the individual, and the corresponding theory is of micro-economic descent. In this paper, in contrast, we develop a method of how to assess feasibility and consequences of an unconditional basic income for a modern, open economy, on the macroeconomic level, using concepts and statistics of a Social Accounting Matrix (SAM) as our main tool. A SAM-based approach can measure, and perhaps model, the impact on the economic activity of a country, and on its economic institutions of new policy measures such as introducing an unconditional basic income. The economic activity of a country is expressed in monetary flows as registered in the National Accounts. So their underlying principles and definitions are adopted. However, the habitual way of putting an economy into a sequence of institutional accounts connecting each institution’s income to the cost, - similar to business accounting - reveals only one, namely the inner-institutional half of the economic circuit. The other, outer half, namely, how the costs of one institution generate income for another one is better captured by the format of a Social Accounting Matrix. In the paper, the impact of an unconditional basic income is quantified, for macroeconomic aggregates of institutional sectors and socio-economic groups of households, taking the German and the Portuguese economies as examples. Purpose of the paper is not to argue for, or against, an unconditional basic income, but to offer a scientific tool with which to calculate and assess possibilities and consequences of the proposal, for a national economy as a whole. |
| Keywords: | Social Accounting Matrix; Unconditional Basic Income; Income Distribution. |
| JEL: | E01 E02 E64 |
| Date: | 2018–08–22 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:88611&r=hme |
| By: | Amitava Krishna Dutt (University of Notre Dame, and FLACSO); Roberto Veneziani (Queen Mary University of London) |
| Abstract: | A simple classical-Marxian model of growth and distribution is developed in which education transforms low-skilled workers into high-skilled ones and in which high-skilled workers save and hold capital, therefore receiving both high-skilled wages and profit income. We analyze the implications for class divisions, growth and distribution, of the transformation of the modern capitalist economy from one in which the main class division is between capitalists who own capital and workers who only receive wage income into one in which education and human capital play a major role. We show than an expansion in education can have a positive effect on growth but by altering the distribution of income rather than by fostering technological change, and that it yields some changes in income distribution and the class structure of the capitalist economy, but need not alter its fundamental features. |
| Keywords: | Education, Human capital, Workers' savings, Growth, Distribution |
| JEL: | E2 E11 O41 I24 |
| Date: | 2017–01–01 |
| URL: | http://d.repec.org/n?u=RePEc:qmw:qmwecw:816&r=hme |
| By: | Niels Hermes; Marek Hudon |
| Abstract: | Microfinance institutions (MFIs) generally aim at improving the access of the poorto financial services while at the same time being financially sustainable. Butwhat do we know about how MFIs reach and combine these two goals? We carryout a systematic review of close to 170 articles discussing the determinants ofthe financial and social performance of MFIs. The review shows that the mostimportant determinants addressed in the literature are MFI characteristics (size,age, type of organization), their funding sources, the quality of organizationalgovernance and the MFIs’ external context such as macroeconomic, institutionaland political conditions. The evidence on these issues is rather mixed. Moreover,the direction of the relationship between these drivers and MFI performancedepends on the context, particularly the country-specific context. Finally, there isa lack of consensus in the literature on the measurement of financial and socialperformance. Due to the complexity of the concept, we argue that socialperformance should only be assessed by using a multidimensional perspective.This can be done either by applying recent and holistic social performancemeasures such as the SPI4, or at least by using a combination of proxies, suchas outreach, gender and rural measures. |
| Keywords: | microfinance; performance; social performance; governance; microcredit |
| JEL: | B00 O16 Q14 |
| Date: | 2018–07–05 |
| URL: | http://d.repec.org/n?u=RePEc:sol:wpaper:2013/273512&r=hme |
| By: | Giorgos Galanis (University of Warwick, and Goldsmiths, University of London); Roberto Veneziani (Queen Mary University of London); Naoki Yoshihara (University of Massachusetts Amherst, Hitotsubashi University, and Kochi University of Technology) |
| Abstract: | This paper provides a formal dynamic analysis of exploitation, class inequalities and profits. A stylised model of a capitalist economy with two classes - workers and capitalists - is considered which extends Roemer [21, 22]. First, a dynamic generalisation of a key Marxian insight is provided by proving that the profitability of capitalist production is synonimous with the existence of exploitation. Second, it is shown that, in a competitive environment, asset inequalities are fundamental for the emergence of exploitation, but they are not sufficient for its persistence, both in equilibria with accumulation and growth, and, perhaps more surprisingly, in stationary intertemporal equilibrium paths. Finally, it is shown that labour-saving technical progress may yield persistent exploitation by ensuring the persistent abundance of labour. |
| Keywords: | Dynamics, Accumulation, Exploitation, Classes |
| JEL: | E11 D51 D63 C61 B24 |
| Date: | 2017–01–01 |
| URL: | http://d.repec.org/n?u=RePEc:qmw:qmwecw:814&r=hme |
| By: | Simon Mohun (Queen Mary University of London); Roberto Veneziani (Queen Mary University of London) |
| Abstract: | This paper tries to clarify the logical structure of the relationship between labour values and prices from an axiomatic perspective. The famous 'transformation problem' is interpreted as an impossibility result for a specific interpretation of value theory based on specific assumptions and definitions. A comprehensive review of recent literature is provided, which shows that there are various theoretically relevant and logically consistent alternative interpretations based on different assumptions and definitions. |
| Keywords: | Value, Prices, Transformation problem |
| JEL: | B51 |
| Date: | 2017–01–01 |
| URL: | http://d.repec.org/n?u=RePEc:qmw:qmwecw:813&r=hme |
| By: | Amitava Krishna Dutt (University of Notre Dame, and FLACSO); Roberto Veneziani (Queen Mary University of London) |
| Abstract: | We develop a classical macroeconomic model to examine the growth and distributional consequences of education. Contrary to the received wisdom, we show that human capital accumulation is not necessarily growth-inducing and inequality-reducing. Expansive education policies may foster growth and reduce earning inequalities between workers, but only by transferring income from workers to capitalists. Further, the overall effect of an increase in education depends on the actual characteristics of the educational system and on the nature of labor market relations. We argue that the model can shed light on some recent stylized facts on growth, distribution and education for the US. |
| Keywords: | Education, Growth, Distribution |
| JEL: | O41 I24 E25 |
| Date: | 2017–01–01 |
| URL: | http://d.repec.org/n?u=RePEc:qmw:qmwecw:815&r=hme |
| By: | Espinoza-Delgado, José; Silber, Jacques |
| Abstract: | The Alkire and Foster (2011) methodology, as the mainstream approach to the measurement of multi-dimensional poverty in the developing world, is insensitive to inequality among the multi-dimensionally poor individuals and does not consider simultaneously the concepts of efficiency and distributive justice. Moreover, the vast majority of empirical indices of multi-dimensional poverty in the literature overlook intra-household inequalities, an issue that is crucial to a better understanding of gender inequalities, because they equate the poverty status of the household with the poverty status of all individuals in the household. Consequently, using the general framework proposed by Silber and Yalonetzky (2013) and Rippin’s ideas on multi-dimensional poverty measurement (2013, 2017), we propose in this paper to depart somehow from the mainstream approach and take an individual-based and inequality sensitive view of multi-dimensional poverty when only ordinal (dichotomized) variables are available. We use such an approach to estimate multi-dimensional poverty among individuals aged 18 and 59 years living in Guatemala, El Salvador, Honduras, Nicaragua, and Costa Rica, shedding thus some light on gender differences in poverty and inequality in those countries. Overall, we find that individuals living in Guatemala have the highest probability of being multi-dimensionally poor, followed by the ones from Nicaragua; people living in Costa Rica, by contrast, have by far the lowest probability of being poor. In the middle appears Honduras and El Salvador, Hondurans having a larger probability of being multi-dimensionally poor than the Salvadorians. Regarding the gender gaps, the overall estimates suggest that the incidence and the intensity of multi-dimensional poverty in Central America are higher among females; inequality, however, is somewhat higher among males. |
| Keywords: | multi-dimensional poverty measurement, inequality, gender inequality, Latin America, Central America |
| JEL: | D1 D13 D6 D63 I3 I32 O5 O54 |
| Date: | 2018–08–31 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:88750&r=hme |
| By: | Hirdesh K. Pharasi; Kiran Sharma; Rakesh Chatterjee; Anirban Chakraborti; Francois Leyvraz; Thomas H. Seligman |
| Abstract: | The study of the critical dynamics in complex systems is always interesting yet challenging. Here, we choose financial market as an example of a complex system, and do a comparative analyses of two stock markets - the S&P 500 (USA) and Nikkei 225 (JPN). Our analyses are based on the evolution of cross-correlation structure patterns of short time-epochs for a 32-year period (1985-2016). We identify "market states" as clusters of similar correlation structures, which occur more frequently than by pure chance (randomness). The dynamical transitions between the correlation structures reflect the evolution of the market states. Power mapping method from the random matrix theory is used to suppress the noise on correlation patterns, and an adaptation of the intra-cluster distance method is used to obtain the "optimum" number of market states. We find that the USA is characterized by four market states and JPN by five. We further analyze the co-occurrence of paired market states; the probability of remaining in the same state is much higher than the transition to a different state. The transitions to other states mainly occur among the immediately adjacent states, with a few rare intermittent transitions to the remote states. The state adjacent to the critical state may serve as an indicator or a "precursor" for the critical state (market crash) and this novel method of identifying the long-term precursors may be very helpful for constructing the early warning system in financial markets, as well as in other complex systems. |
| Date: | 2018–09 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:1809.00885&r=hme |
| By: | Claudius Graebner; Birte Strunk |
| Abstract: | This paper provides a taxonomy and evaluation of five common arguments against pluralism in economics: (1) the claim that economics is already pluralist, (2) the argument that if there was the need for greater plurality, it would emerge on its own, (3) assertion that pluralism means "anything goes" and is thus unscientific, (4) the claim that economics must have a single core paradigm to justify its role as a major science, and (5) the contention that pluralism is an ideological movement from the left, and should not be granted scientific attention. We provide counter-arguments to all these arguments. Based on the assesment of these critques we identify two main challenges to be faced by advocates of pluralism: first, the need to derive adequate quality criteria for a pluralist economics, and second, the necessity to propose strategies that ensure the communication across different research paradigms. The paper concludes with some suggestions to meet these challenges. |
| Date: | 2018–08 |
| URL: | http://d.repec.org/n?u=RePEc:ico:wpaper:82&r=hme |
| By: | Entsminger, Jason S. |
| Keywords: | Agribusiness, Agricultural and Food Policy, Research Methods/Statistical Methods |
| Date: | 2017–07–03 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea17:258505&r=hme |
| By: | Robson, Keith (HEC Paris); Dambrin, Claire (ESCP Europe - Management Control Department); Bottausci, Chiara (HEC Paris) |
| Abstract: | This study explores how morality is constituted into accounting objects and how accounting becomes a moral mediator. We retrace the moral practices that subtend the field-level construction of a Principal-Agent incentive algorithm in a Big Pharma company, with particular focus on the inscribing work through which different communities of knowledge, internal and external to the organization, try to realize particular moral principles for the performance measurement system in the making. The study draws upon Science and Technology Studies (Latour, 1989; Jasanoff, 2015) to explore performance measurement systems as existing in Moral Imaginaries, ethical visions that positions accounting devices, and their material features and technical functionalities, as embedding and enacting ‘moral’ and ‘just’ viewpoints. We show how performance measurement systems emerge as moral calculating devices that are shaped by, and struggle with, the contrasting moralities of heterogeneous designers, but also act as moral mediators that reshape human actors’ moral imaginaries as their algorithmic constructions and data outputs perform. In so doing, we contribute to Science and Technology Studies by highlighting how the constitution of who / what is an “Agent”, and its actantiality, is embedded upon movements in which morality circulates, is claimed by actors and attributed to others, and finally objectified in material technologies. |
| Keywords: | morality; accounting; imaginaries |
| JEL: | M41 |
| Date: | 2018–08–01 |
| URL: | http://d.repec.org/n?u=RePEc:ebg:heccah:1301&r=hme |
| By: | Anwar Shaikh (Department of Economics, New School for Social Research); Kyle Glenn (Department of Economics, New School for Social Research) |
| Abstract: | The ability to accommodate heterogenous types of labor has presented a serious issue for the labor theory of value. Ever since Bohm-Bawerk's criticizism of Marx's theory as circular, Marxist's have contributed considerable e orts to prove the labor theory of value holds with the inclusion of heterogenous labor. This paper analyzes some of the more notable approaches to the problem. This paper proceeds in the following manner: Section 1 brie y introduces the topic of skilled labor within the labor theory of value as well as Bohm-Bawerk's theoretical critique. Section 2 presents the basic framework and notation used in the paper. Section 3 explores Hilferding's solution to the problem as formalized by Rowthorn. The well known contribution to the literature by Bowles and Gintis is also addressed here. Section 4 examines the extension to heterogenous labor within the \New Interpretation" of Dumenil and Foley. Section 5 introduces a method formalized by Shaikh which this paper refers to as a "cost of skilling" approach. Finally, section 6 discusses key implications of the varying approaches and situates the cost of skilling amongst them. |
| Date: | 2018–09 |
| URL: | http://d.repec.org/n?u=RePEc:new:wpaper:1811&r=hme |
| By: | Verteramo Chiu, Leslie J.; Tauer, Loren W.; Al-Mamun, Mohammad A.; Kaniyamattam, Karun; Smith, Rebecca L.; Grohn, Yrjo |
| Keywords: | Agricultural Finance, Agribusiness, Agricultural and Food Policy |
| Date: | 2017–06–30 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea17:258216&r=hme |
| By: | Cutuli, Romina |
| Abstract: | En este artículo se abordará la precariedad laboral desde una perspectiva de género en la educación de nivel inicial. La escasa presencia del Estado, tanto en su rol de proveedor como de organismo de control en la provisión de servicios de cuidado, mantiene al cuidado infantil -con mayor intensidad durante los primeros tres años de vida- a horcajadas entre la familiarización y la mercantilización. La educación inicial tiene, así, un fuerte componente privado, en gran medida informal y precario, no sólo por las relaciones de trabajo que lo sustentan, sino por sus condiciones institucionales y de infraestructura. Esta precariedad mantiene un vínculo tenso con las exigencias de calidad atribuibles a una labor profesional. Se propone en este sentido, que la generización de la docencia en el nivel inicial, y su consecuente asociación con el trabajo de cuidado no remunerado, actúan como factor descalificador del trabajo. A este discurso desvalorizador se añadirían las expectativas de abnegación asignadas al rol maternal, lo que permite, a la postre, sostener la tensión entre precariedad y calidad. |
| Keywords: | Condiciones de Trabajo; Precarización Laboral; Género; Enseñanza Inicial; |
| Date: | 2017 |
| URL: | http://d.repec.org/n?u=RePEc:nmp:nuland:2941&r=hme |
| By: | Myong, Sunha (Singapore Management University); Park, JungJae (National University of Singapore); Yi, Junjian (National University of Singapore) |
| Abstract: | We first document three stylized facts about marriage and fertility in East Asian societies: They have the highest marriage rates in the world, but the lowest total fertility; they have the lowest total fertility, but almost all married women have at least one child. By contrast, almost no single women have any children. We then explain these three facts, focusing on two social norms associated with Confucianism: the unequal gender division of childcare within a household and the stigma attached to out-of-wedlock births. We incorporate the two social norms into an economic model, and structurally estimate it using data from South Korea's censuses and household surveys. We find that, on the one hand, the social norm of unequal gender division of childcare significantly contributes to the low fertility of South Korea, and its effect varies across education: The social norm lowers fertility for highly educated women but increases it for the less educated. Pro-natal policies can increase average fertility, but they are not effective in mitigating the role of this norm as they cannot sufficiently boost fertility for highly educated women. On the other hand, the social stigma has negligible effects on marriage and fertility. Historical simulation results show that fertility would have decreased less dramatically in the absence of the first norm, especially for younger birth cohorts. Our results suggest that the tension between the persistent gender ideology and rapid socioeconomic development is the main driving force behind the unique marriage and fertility patterns of East Asian societies, and that this tension has escalated in recent decades. |
| Keywords: | Confucianism, social norms, fertility, demographic transition, East Asia societies |
| JEL: | J11 J12 J13 |
| Date: | 2018–08 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp11744&r=hme |
| By: | Khan, M.A.; Tahir, A. |
| Abstract: | Climate Change is an ever growing issue with a great importance due to wide socio-economic effects. Agriculture is the most climate sensitive economic sector that is influenced both positively and negatively by climate change. A change in temperature or precipitation could cause a significant change in crops productivity and yields. Different crop/bio-physical experts have been making efforts to process the impact of climate on crop yields through different crop modellings using input from different global climate models. In this research, the output of the crop models is used as a shock in the global computable general equilibrium economic model to evaluate the economic effects of climate change. Pakistan has two crop seasons – Kharif and Rabi- therefore two major crops i.e. Wheat and Rice have been chosen for this analysis. A Baseline scenario, representing business as usual with no change in climate, has been created using projections for GDP, population, factor supplies, and required food production. A counterfactual experiment has done using the same GDP and population growth as in the baseline but with addition of crop yield shocks from bio-physical models. A comparison of these two experiments has shown the economic effects of climate change by 2035. |
| Keywords: | Agricultural Finance, Environmental Economics and Policy, International Development |
| Date: | 2018–07 |
| URL: | http://d.repec.org/n?u=RePEc:ags:iaae18:275969&r=hme |
| By: | Reimao, Maira E.; Tas, Emcet O. |
| Keywords: | International Development, Consumer/Household Economics, Research Methods/Statistical Methods |
| Date: | 2017–07–03 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea17:258550&r=hme |
| By: | Labrunée, María Eugenia |
| Abstract: | En este documento se ofrece una descripción y análisis de situaciones de trabajo infantil y adolescente que ocurren en el predio de disposición final de residuos del Partido de General Pueyrredon, Buenos Aires, Argentina, sus implicancias para el bienestar de los niños-as y adolescentes y las intervenciones emprendidas por el Municipio en el marco del Proyecto local de Erradicación del Trabajo Infantil (TI) desde 2015. El involucramiento de las familias en el predio de disposición de residuos se enmarca en un Sistema de Gestión Integral de Residuos Urbanos con ineficiencias, y prevalece un espacio donde se realiza la actividad de recupero de manera informal, sin una organización de las tareas ni sistemas de seguridad e higiene. Aquí se rediscute esta actividad y el trabajo de los recuperadores desde una concepción valorativa y ambiental. El acercamiento se realizó mediante entrevistas en profundidad realizadas en 2017 a todo el equipo gestor del Proyecto de erradicación del trabajo infantil, a adolescentes beneficiarios y a referentes de instituciones y organizaciones sociales que articulan actividades. El documento ofrece líneas claras para aunar esfuerzos destinados a mejoras o reestructuraciones que lo fortalezcan y aumente la efectividad del proyecto. |
| Keywords: | Trabajo Infantil; Protección a la Infancia; Programas Sociales; Partido de General Pueyrredon; |
| Date: | 2018–05 |
| URL: | http://d.repec.org/n?u=RePEc:nmp:nuland:2931&r=hme |
| By: | - |
| Abstract: | En 2015 se realizó una reunión de expertos sobre retos y oportunidades para la Seguridad Alimentaria y Nutricional en los países del Sistema de la Integración Centroamericana (SICA) organizada conjuntamente por la Secretaría Ejecutiva del Consejo Agropecuario Centroamericano (SE-CAC), la Comisión Económica para América Latina y el Caribe (CEPAL), la Organización para la Alimentación y la Agricultura de Naciones Unidas (FAO) y el Programa Regional de Seguridad Alimentaria y Nutricional para Centroamérica (PRESANCA). Uno de sus objetivos fue identificar potenciales líneas de acción para fortalecer la Seguridad Alimentaria y Nutricional en esta región. Este grupo de expertos recomendó explicitar una línea de trabajo sobre Seguridad Alimentaria y Nutricional y cambio climático y dar continuidad a un espacio regional de trabajo sobre este reto. Con base en las recomendaciones de esta reunión y en el marco de su programa de trabajo, la SE-CAC y la CEPAL prepararon una propuesta de trabajo sobre la SAN y el cambio climático y que se expresa en el presente documento. |
| Keywords: | CAMBIO CLIMATICO, SEGURIDAD ALIMENTARIA, NUTRICION, EVALUACION, DIRECTRICES, POLITICA ALIMENTARIA, INVESTIGACION ALIMENTARIA, AGRICULTURA, CLIMATE CHANGE, FOOD SECURITY, NUTRITION, EVALUATION, GUIDELINES, FOOD POLICY, FOOD RESEARCH, AGRICULTURE |
| Date: | 2018–09–11 |
| URL: | http://d.repec.org/n?u=RePEc:ecr:col094:44056&r=hme |
| By: | Shaheen, Farhet; Shah, Farhed A. |
| Keywords: | Land Economics/Use, Resource/Energy Economics and Policy, International Development |
| Date: | 2017–07–03 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea17:258350&r=hme |
| By: | Jaumandreu, Jordi; Lin, Shuheng |
| Abstract: | We study how firms' innovations impact prices with endogenous productivity and markup, under imperfect competition and dynamic pricing. Absent innovation, productivity plus markup changes curb price growth to half of variable inputs cost growth. Innovation's additional impact on costs is negatively correlated with markup changes. We detect two prevalent strategies. When marginal cost goes down, firms cash-in innovation by increasing the markups to enlarge profits. When marginal cost goes u firms practice countervailing pricing by decreasing markups. With no innovation aggregate manufacturing price growth had multiplied by 1.4, but innovation without cash-in strategies had multiplied it by 0.8. |
| Keywords: | Innovation; marginal cost; markup; price indices |
| JEL: | D43 L11 L16 O31 |
| Date: | 2018–08 |
| URL: | http://d.repec.org/n?u=RePEc:cpr:ceprdp:13146&r=hme |