nep-hme New Economics Papers
on Heterodox Microeconomics
Issue of 2020‒04‒13
twenty papers chosen by
Carlo D’Ippoliti
Università degli Studi di Roma “La Sapienza”

  1. Post-Keynesian Economics - Challenging the Neo-Classical Mainstream By Heise, Arne
  2. Петр Кропоткин, философия сотрудничества и цифровая революция By Polterovich, Victor
  3. Is the most unproductive firm the foundation of the most efficient economy? Penrosian learning confronts the Neoclassical fallacy By William, Lazonick
  4. The Impact of COVID-19 on Gender Equality By Titan Alon; Matthias Doepke; Jane Olmstead-Rumsey; Michèle Tertilt
  5. The Welfare State and Liberal Democracy - A Political Economy Approach By Heise, Arne; Serfraz Khan, Ayesha
  6. Labour transformation and institutional re-arrangement in France : a preliminary study of a business and employment cooperative By Mélissa Boudes
  7. Science-Driven Societal Transformation, Part III: Design By John C. Boik
  8. Science-Driven Societal Transformation, Part II: Motivation and Strategy By John C. Boik
  9. Japanese Inter-prefectural Input-Output Table: Construction Method and Main Results for 2005 (Japanese) By ARAI Sonoe
  10. Science-Driven Societal Transformation, Part I: Worldview By John C. Boik
  11. Do Trade and Investment (Agreements) Foster Development or Inequality? By Pierre Kohler; Francis Cripps
  12. La construction sociale du chiffre By Pierre Gervais
  13. Responding to Economic and Ecological Deficits By Jonathan M. Harris
  14. Emergence et viabilité d’une filière de production dans l’imagerie médicale : les syndicats face à la politique industrielle française By Samuel KLEBANER
  15. Growth without Full Capacity Utilization And Full Capacity Utilization Without Growth By Federico Bassi
  16. Nature and Logic By Icefield, William
  17. Still Separate in STEM? Trends in Sex Segregation by Field of Study in Japan, 1975-2019 By Uchikoshi, Fumiya; Mugiyama, Ryota; Oguro, Megumi
  18. La contribution ambiguë de Herbert Simon à l'étude des organisations : bilan raisonné du cognitivisme By Philippe Lorino
  19. Reproducción de la vida, superexplotación y organización popular en clave feminista. Una lectura desde Argentina By Féliz, Mariano; Díaz Lozano, Juliana Agustina
  20. A wavelet analysis of inter-dependence, contagion and long memory among global equity markets By Avishek Bhandari

  1. By: Heise, Arne
    Abstract: This article takes an in-depth look at post-Keynesianism as a paradigmatic al-ternative to the dominant neoclassical mainstream. It quickly becomes clear that post-Keynesianism is not a unified school of thought, but rather an assortment of theoretical approaches that share certain methodological and epistemological similarities and characteristic postulates. The Article does not attempt to de-scribe the full array of Kaleckian, Kaldorian and Sraffian variants of post-Keynesian theory but instead analysis the paradigmatic and formal structure of one particular form of post-Keynesianism, the monetary theory of production in order to reconstruct these characteristic postulates from the axiomatic core of post-Keynesianism. It then sets out the theory of market participation, an alter-native theory of economic policy that builds on monetary production economics.
    Keywords: post-Keynesianism, heterodox economics, neoclassical economics, paradigms
    JEL: B41 B50 B59 E11 E12 E60
    Date: 2019
  2. By: Polterovich, Victor
    Abstract: Anarchism has been rejected by modern science as an antihistorical and utopian concept. Even Kropotkin, who sought to provide scientific justification for anarchist views, in fact professed the ideology of the "Golden Age", according to which the idyll of collaboration, which had taken place before the emergence of states, was destroyed by their formation. He considered the state only as an instrument of exploitation of the population by the ruling class, without taking into account that the elite can perform functions vital to society. According to Kropotkin, not only the state, but also market competition is a mistake of evolution. He did not distinguish between positive (not directed against third parties) and negative collaboration. Kropotkin's tolerant attitude towards terrorism contradicts the very essence of his teachings. At the same time, a number of statements of Kropotkin's theory have been adopted by contemporary researchers. Kropotkin demonstrated the incorrectness of a straightforward understanding of Darwinism, noted the connection between mechanisms of collaboration and certain ethical norms, and drew attention to the importance of development of civil society. Decreasing the level of violence as institutions improve is the central idea of the theory of social orders, constructed by D. North and his co-authors; it echoes Kropotkin’s theory. A generalization of the same idea is the philosophy of collaboration (proposed by the author of this article), which shows that socio-economic development leads to a decrease in the role of violence embedded in the mechanisms of competition and power, and to an increase in the role of collaboration. It is shown that this trend is reinforced by the digital revolution.
    Keywords: anarchism, collaboration, power, competition, peering platform
    JEL: B14 B15 B31 B41 B5 L86
    Date: 2020–03–20
  3. By: William, Lazonick
    Abstract: Edith Penrose’s 1959 book The Theory of the Growth of the Firm [TGF] provides intellectual foundations for a theory of innovative enterprise, which is essential to any attempt to explain productivity growth, employment opportunity, and income distribution. Properly understood, Penrose’s theory of the firm is also an antidote to the deception that is foundational to neoclassical economics: The theory, taught by PhD economists to millions upon millions of college students for over seven decades, that the most unproductive firm is the foundation of the most efficient economy. The dissemination of this “neoclassical fallacy” to a mass audience of college students began with Paul A. Samuelson’s textbook, Economics: An Introductory Analysis, first published in 1948. Over the decades, the neoclassical fallacy has persisted through 18 revisions of Samuelson, Economics and in its countless “economics principles” clones. This essay challenges the intellectual hegemony of neoclassical economics by exposing the illogic of its foundational assumptions about how a modern economy functions and performs. The neoclassical fallacy gained popularity in the 1950s, during which decade Samuelson revised Economics three times. Meanwhile, Penrose derived the logic of organizational learning that she lays out in TGF from the facts of firm growth, absorbing what was known in the 1950s about the large corporations that had come to dominate the U.S. economy. Also, during that decade, the knowledge base on the growth of firms on which economists could subsequently draw was undergoing an intellectual revolution, led by the business historian, Alfred D. Chandler, Jr. He was engaged in the first stage of a career that would span more than a half century, during which Chandler documented and analyzed the centrality to U.S economic development of what he would come to call “the managerial revolution in American business.” In combination, the works of Penrose and Chandler form intellectual foundations for my own work on the Theory of Innovative Enterprise—an endeavor that has enabled me, as an economist, to recognize not only the profound importance of organizational learning for economic theory but also the illogic of the neoclassical theory of the firm for our understanding of the central institution of a modern economy, the business corporation. In this essay, I argue that the key characteristic of the innovative enterprise is fixed-cost investment in the productive capabilities of the company’s employees to engage in organizational learning. The purpose of this investment in organizational learning is to develop a higher-quality product than was previously available. When successful, the development of the higher-quality product enables the firm to capture a large extent of the market, transforming high fixed cost into low unit cost. The result is sustainable competitive advantage that enables the growth of the firm, contributing to the growth of the economy as a whole. I argue that to get beyond the neoclassical fallacy, economists have to stop relying on constrained-optimization methodology. Rather, they need to be trained in a “historical transformation” methodology that integrates history and theory. It is a methodology in which theory serves as both a distillation of what we have learned from the study of history and a guide to what we need to learn about reality as the “present as history” unfolds.
    Keywords: Theory of the firm, Penrosian learning, Chandlerian history, innovative enterprise, economic performance, Paul Samuelson, neoclassical fallacy, constrained optimization, historical transformation
    JEL: A2 B3 N8
    Date: 2020–01
  4. By: Titan Alon; Matthias Doepke; Jane Olmstead-Rumsey; Michèle Tertilt
    Abstract: The economic downturn caused by the current COVID-19 outbreak has substantial implications for gender equality, both during the downturn and the subsequent recovery. Compared to ``regular'' recessions, which affect men's employment more severely than women's employment, the employment drop related to social distancing measures has a large impact on sectors with high female employment shares. In addition, closures of schools and daycare centers have massively increased child care needs, which has a particularly large impact on working mothers. The effects of the crisis on working mothers are likely to be persistent, due to high returns to experience in the labor market. Beyond the immediate crisis, there are opposing forces which may ultimately promote gender equality in the labor market. First, businesses are rapidly adopting flexible work arrangements, which are likely to persist. Second, there are also many fathers who now have to take primary responsibility for child care, which may erode social norms that currently lead to a lopsided distribution of the division of labor in house work and child care.
    Keywords: Covid-19, Division of Labor, Business Cycle, Gender Equality
    JEL: D13 J16 O10
    Date: 2020–03
  5. By: Heise, Arne; Serfraz Khan, Ayesha
    Abstract: This paper attempts to shed some light on the developments of welfare states in highly developed nations since World War Two (WW2) within the context of a narrative which seeks to combine institutional distinctions, termed “varieties of capitalism,” with the historical regimes of regulation theory in a political economy perspective which puts interested political actors at centre stage. It will be argued that in a liberal democracy, the elite has the framing and agenda-setting power to “manufacture a political will” according to its interests. The welfare state is not the result of a long social struggle on the part of the needy; rather, it results in its general features from the minimal state of meritocratic exigencies. Under the very peculiar circumstances of the post-WW2 era, this even translated into a rise in social welfare spending to more than a third of national income. The particular design of welfare state organisation was the subject-matter of political conflict, and a clear distinction between liberal and coordinated market economies can be attributed to cultural differences and institutional settings. Yet the core of the welfare state conception serves the interest of the meritocracy as much as those who benefit from social programmes and re-distribution. And the neoliberal attack on the welfare state since the 1980s is not a necessary re-calibration due to changing economic conditions or a growing lack of solidarity among the people but an expression of a modified cost-benefit analysis from the elite’s perspective.
    Keywords: welfare state; Keynesian national welfare state; Schumpeterian competition state; elite; agenda theory
    JEL: B50 H10 H55 I30
    Date: 2019
  6. By: Mélissa Boudes (MMS - Département Management, Marketing et Stratégie - TEM - Télécom Ecole de Management - IMT - Institut Mines-Télécom [Paris] - IMT-BS - Institut Mines-Télécom Business School, LITEM - Laboratoire en Innovation, Technologies, Economie et Management (EA 7363) - UEVE - Université d'Évry-Val-d'Essonne - Université Paris-Saclay - IMT-BS - Institut Mines-Télécom Business School)
    Abstract: This chapter shows how a new type of cooperative – business and employment cooperative – is creating a new institutional arrangement. It presents the evolution of labour in France and how this affects the extant institutional arrangement. The chapter examines business and employment cooperatives and the method used to study them. Globalization and digitalization are some of the changes that destabilize labour and the institutional arrangements regulating it. The first business and employment cooperative (BEC) was created in 1995 in the French city of Lyon by a group of public and private for-profit and not-for-profit organizations. To tackle unemployment, policy makers have developed specific legal statuses and adapted tax rates to encourage people to set up their own business. From a new-institutional approach, BECs rely on three different institutional orders: the market, the state and the social economy. Important dimension of the creation of the new institutional arrangement is the cooperative principle of education, training and information.
    Date: 2019
  7. By: John C. Boik (Principled Societies Project)
    Abstract: The risks posed by climate change, biodiversity loss, and other major social and environmental problems have become severe. Increasingly, scientists, global policy experts, and the general public conclude that bold, even transformational change is required across all sectors of society. This paper is the third in a three-part series that adds to the discussion by proposing a novel science-based research and development program aimed at societal transformation, where transformation is understood as the shift to new systems (e.g., new governance, economic, and financial systems). Such transformation can be called systems change or systems migration, and is viewed here as a necessary complement to reform efforts. The first two papers in the series provide definitions, aims, hypotheses, reasoning, worldview, and a theory of change, and discuss the role of science in transformation. This paper discusses fitness metrics, a prototype system, and design principles. It introduces possibilities for system design, highlights topics worth exploring, and summarizes ideas that might serve as guides to future research.
    Keywords: transformation, systems change, sustainability, complexity, complex systems, complex adaptive systems, societal cognition, wellbeing, well-being, local currency, community currency, complementary currency, digital currency, democracy, economic democracy, direct democracy, environmental economics, climate change, global warming, biodiversity loss, active inference, free energy principle, self-organizing criticality, SAILS, LEDDA
    JEL: B50 C63 D31 I3 O1 O30 P20 P41 P50 Q01 Q54 Q57
    Date: 2020–04
  8. By: John C. Boik (Principled Societies Project)
    Abstract: Climate change, biodiversity loss, and other social and environmental problems pose grave risks. Progress so far has been incremental, and as a result scientists, global policy experts, and the general public increasingly conclude that bold change is required across all sectors of society. At least two kinds of bold change are conceivable: reform of existing systems (e.g., financial, economic, and governance systems), including their institutions, policies, rules, and priorities; and transformation, the development of and migration to new, improved systems. This paper is the second in a series of three that together present a novel science-based research and development program aimed at transformation. Two underlying hypotheses are that new systems can be developed in a science-based process to be fit for purpose, and system fitness can be compared across designs. Societies are understood as superorganisms, and systems are understood as a societal cognitive architecture. The first paper in the series provides definitions, aims, hypotheses, and a worldview. This paper discusses motivations, the role of science in transformation, and a theory of change. The proposed R&D program and theory of change are sound, viable, and affordable. A local-global-viral strategy invites the science community to play a unique co-leadership role with local communities in the development and testing of new societal systems. Systems are implemented via a civic club model, where participation is voluntary. Clubs grow and replicate based on merit and aided by club networks. Advantages of the strategy are discussed.
    Keywords: transformation, systems change, sustainability, complexity, complex systems, complex adaptive systems, societal cognition, wellbeing, well-being, local currency, community currency, complementary currency, digital currency, democracy, economic democracy, direct democracy, environmental economics, climate change, global warming, biodiversity loss, active inference, free energy principle, self-organizing criticality, SAILS, LEDDA
    JEL: B50 C63 D31 I3 O1 O30 P20 P41 P50 Q01 Q54 Q57
    Date: 2020–04
  9. By: ARAI Sonoe
    Abstract: In order to analyze determinants of regional income disparities we must focus on the economic interdependence between regions as well as technological spillovers and factor endowment in the regions. For instance, we want to know what changes have occurred in the division of work among Japanese regions in recent years and whether they have increased or decreased regional income disparities. When we want to study these interdependences and their changes, the need for inter-regional input-output (IO) table is evident. This paper explains the construction of inter-prefectural IO table for 2005 and main results. In Japan, each prefecture regularly releases prefectural-level IO tables. However, prefectural IO tables is not necessarily constructed on consistent industrial classification and activity definitions. Therefore, the first step is to harmonize these differences in classifications and definitions. The most important harmonization undertaken is the treatment of activities of headquarters for companies that operate trans-regionally with offices in deferent prefectures. After harmonizing prefectural IO table, an inter-prefectural IO table is constructed by estimating intermediate sectoral inputs from different prefectures.
    Date: 2020–02
  10. By: John C. Boik (Principled Societies Project)
    Abstract: Humanity faces serious social and environmental problems, including climate change and biodiversity loss. Although many of these problems have been discussed in the scientific and lay literature for decades, societies as a whole have so far failed to take adequate steps to reduce risks. Where progress has been made, it has been mostly incremental. Increasingly, scientists, global policy experts, and the general public conclude that incremental approaches are insufficient and transformative change is needed across all sectors of society. However, the meaning of transformation is still unsettled in the literature, as is the proper role of science in fostering it. This paper is the first in a three-part series that adds to the discussion by proposing a novel science-based research-and-development program aimed at societal transformation. While acknowledging the necessity of reform to existing systems (e.g., governance, economic, and financial systems), the focus of the series is on transformation understood as systems change or systems migration. The series provides definitions, aims, reasoning, worldview, and a theory of change, and discusses fitness metrics and design principles for new systems. This first paper proposes a worldview intended to serve as the foundation for the R&D program. The worldview is built using ideas from evolutionary biology, complex systems science, cognitive sciences, and information theory, among other fields. It defines an intrinsic purpose for a society and also for societal systems, which are viewed as the cognitive architecture of a society. Subsequent papers in the series build on the worldview. An underlying hypothesis is that new systems can be developed in a science-based process to be fit for purpose and to reflect value and meaning as per worldview.
    Keywords: transformation, systems change, sustainability, complexity, complex systems, complex adaptive systems, societal cognition, wellbeing, well-being, local currency, community currency, complementary currency, digital currency, democracy, economic democracy, direct democracy, environmental economics, climate change, global warming, biodiversity loss, active inference, free energy principle, self-organizing criticality, SAILS, LEDDA
    JEL: B50 C63 D31 I3 O1 O30 P20 P41 P50 Q01 Q54 Q57
    Date: 2020–04
  11. By: Pierre Kohler; Francis Cripps
    Abstract: This paper proposes to revisit the debate on trade and investment agreements (TIAs), development and inequality, looking at the role of Global Value Chains (GVCs) and transnational corporations (TNCs). It first presents stylized facts about trade and investment (agreements), declining global economic growth and rising inequality under the latest round of globalization. It then provides a long-run perspective on the mixed blessings of external opening, summarizing some key contributions of the mainstream literature, which are converging with long-standing research findings of more heterodox economists, and the eroding consensus today. Based on this stock-taking, it takes a fresh critical look at the TIAs-GVCs-TNCs nexus and their impact. Using data on value-added in trade and new firm-level data from the consolidated financial statements of the top 2000 TNCs going back to 1995, it examines whether the fragmentation of production along GVCs led to positive structural change or rather stimulated unsustainable trends in extractive and FIRE sectors. It then turns to the role of TNC-driven GVCs as a vehicle for economic concentration. Finally, it presents evidence linking TIAs and their correlates to rising inequality. Key findings include the fact that the ratio of top 2000 TNCs profits over revenues increased by 58 percent between 1995 and 2015. Moreover, the rise in top 2000 TNCs profits accounts for 69 percent of the 2.5 percentage points decline in the global labour income share between 1995 and 2015, with the correlation coefficient between annual changes in both variables as high as 0.82. The paper concludes by calling for a less ideological policy debate on TIAs, which acknowledges the mixed blessings of external financial and trade opening, especially their negative distributional impact and destabilizing macro-financial feedback effects, which both call for policy intervention. As an alternative to short-sighted protectionism, it further discusses possible options for anticipating undesirable effects arising from TIAs (e.g. rising carbon emissions, economic instability, inequality, etc.) and addressing those in TIAs themselves.
    Date: 2018–10
  12. By: Pierre Gervais (CRAN - Centre de Recherche sur l'Amérique du Nord - CREW - CREW - Center for Research on the English-speaking World - EA 4399 - Université Sorbonne Nouvelle - Paris 3)
    Abstract: The article raises the question of the possibility of historicizing quantification, which starts from a reflection on the categories used for this quantification. Beginning with an analysis of two specific examples from pre-or proto-industrial economies at the turn of the eighteenth to the nineteenth century, the article points out that quantification methods applied at the time used very different principles than would be used today in the same context. One case highlighted in the paper focuses on the definition of production costs around 1820 in one of the first fully mechanized textile mills in Waltham, Massachusetts. The other example from circa 1755 analyzes how Abraham Gradis, an important Bordeaux merchant, used the category of currency in his accounting. The article concludes that a truly historical approach to numbers should always start by studying the mindsets of the actors who generated these numbers in order to guarantee a historical understanding of the categories that governed this process.
    Abstract: La divergence croissante entre l'histoire et l'économie, prises en tant que disciplines scientifiques, se manifeste peut-être plus nettement qu'à tout autre égard dans l'emploi de la quantification en histoire, et particulièrement en histoire économique, où cet emploi semblerait aller de soi. L'usage du chiffre était central dans les grandes enquêtes quantifiées de l'école des Annales au milieu du siècle dernier, et il a même été possible de croire à sa généralisation dans les années 1970 avec l'apparition aux États-Unis de la «cliométrie», l'application à l'histoire de méthodes quantitatives (et souvent de théories) tirées de l'économie. Mais la situation a évolué en sens inverse à partir des années 1990. Si le traitement mathématico-statistique de données est devenu un élément de validation essentiel ces dernières décennies pour quiconque souhaite écrire dans les principales revues scientifiques en économie.
    Date: 2019
  13. By: Jonathan M. Harris
    Abstract: Macroeconomic theory was shaken up in the wake of the financial crisis, with neoclassical approaches proving inadequate to analyze or respond to the need for policy action. Despite efforts to return to more conventional macro perspectives, a continuing re-evaluation of economic theory has important implications both for traditional economic concerns such as employment and inflation, and for ecological issues and the climate crisis. An emerging “green Keynesian†approach combines a radical Keynesian analysis with ecological priorities such as drastic carbon emissions reduction. One important aspect of this reorientation of theory is the analysis of economic and ecological deficits. In the years since the financial crisis, both economic and ecological deficits have increased. This poses a challenge for “green Keynesian†policy. It is therefore necessary to have effective analyses to measure and respond to ecological deficits, as well as policy measures to deal with economic deficits. This paper proposes a new approach to measuring ecological deficits, and a new perspective on economic deficits and debt. Since there is no single unitary measure for depletion or degradation of different kinds of resources, it is necessary to measure different kinds of deficit for different resources, with a goal of reducing all of these to zero or replacing them with surpluses. The analysis involves exploring the specific economic implications of reducing both ecological and economic deficits, which involves re-conceptualizing economic growth and "degrowth", and provides an alternative to current U.S. policies under the Trump administration, which are contributing to widening both deficits.
    Date: 2019–04
  14. By: Samuel KLEBANER
    Abstract: L’objectif de ce papier est de s’interroger sur la manière dont un syndicat peut participer à la construction d’une filière industrielle, à partir de l’étude de l’imagerie médicale. La première section montre de manière qualitative comment un syndicat de salarié a construit un réseau multi-niveau afin d’obtenir de l’Etat un engagement dans la création d’un centre d’innovations technologiques. La seconde section montre à partir d’une lecture institutionnaliste que malgré le rôle central du syndicat dans la construction de cette politique industrielle, l’implémentation et l’architecture institutionnel de ce centre peut mettre en échec la volonté de coopération industrielle espérée.
    Keywords: Filières; Syndicat; Imagerie médicale; Institutions; Réseau
    JEL: B52 I18 L52 L63 O38
    Date: 2020
  15. By: Federico Bassi (Dipartimento di Scienze Sociali ed Economiche - Università degli Studi di Roma "La Sapienza" [Rome])
    Abstract: Despite empirical evidence of permanent damages to GDP after the 2008 global financial crisis, there is little theoretical consensus about the impact of the crisis on the unobservable rate of capacity utilization. In this paper, we investigate how the rate of capacity utilization reacts to shocks by testing the hypothesis that the normal rate of capacity utilization is exogenous and constant, against the alternative hypothesis that it is endogenous to demand and can vary with time. We find that the normal rate is more likely to be a shifting attractor or a time-varying trend instead of a fixed center of gravity. Hence, temporary shocks do not necessarily translate into permanent losses of productive capacity but they can also translate into lower degrees of utilization of the capacity in place. We show indeed that the effects of the 2008 financial crisis on EU countries were highly heterogeneous, and we find three different trajectories. A first cluster of countries recovered the pre-crisis rate of capacity utilization and accumulation, despite a permanent destruction of productive capacity. A second cluster of countries absorbed the shock through a lower rate of capacity utilization and accumulation with no permanent destruction of productive capacity; a third cluster of countries absorbed the shock through a massive destruction of productive capacity and a negative rate of growth, despite an increasing rate of utilization.
    Keywords: Normal rate of capacity utilization,Hysteresis,Secular stagnation
    Date: 2020–03–30
  16. By: Icefield, William
    Abstract: [Nature and Logic] examines important questions in philosophy of logic, economics, computer science and physics. Can we infer from a non-instantiated property? What is nature of our physics theories, and their relations to tools of inference? What are problematic about contemporary theoretical macroeconomics? How should we build theoretical macroeconomics based on realistic knowledge of our monetary economy? Can problems in computer science be reduced to signal processing problems, and how do tools of renormalization help? In what ways do problems in computer science be approached from tools of inference?
    Date: 2020–03–08
  17. By: Uchikoshi, Fumiya; Mugiyama, Ryota; Oguro, Megumi
    Abstract: There is much evidence to suggest that the gender wage gap in Japan is one of the highest in rich countries, while gender inequality in education at the vertical level is becoming increasingly equalized. A small number of studies suggest that the remaining gender gap can be attributed to horizontal segregation with respect to field of study, particularly female underrepresentation in STEM fields, and little is known about trends in sex segregation by field in Japan specifically. By using publicly available education statistics, the current study investigates these trends from 1975 through 2019. We paid particular attention to (1) different trends in non-STEM, STEM, and health fields, and (2) heterogeneity across national, public, and private institutions. The results of applying Duncan's dissimilarity index to 68 fields of study among four-year university students reveal that the overall trend in sex segregation in field of study has decreased over the 45 years by 43%. We also found that trends differ based on both institutional characteristics of universities and academic field, as the declining segregation trend is mainly driven by the massive integration of men and women in non-STEM fields in private institutions. The declining trend in segregation has been slow in recent years, especially at national and public institutions. We explored potential mechanisms for these stalling trends, and suggest that the driving forces are (1) a slower integration of women in STEM fields and (2) a rise in segregation in health fields. These results provide support for the theory of a stalled gender revolution in Japan. This study concludes that the desegregation may not be linked to the gender equality in the labor market, and that horizontal segregation may even increase because of the growing demand for the workforce to deal with population aging in the future.
    Date: 2020–03
  18. By: Philippe Lorino (Accounting / Management Control Department - Essec Business School)
    Date: 2019–09–24
  19. By: Féliz, Mariano; Díaz Lozano, Juliana Agustina (Consejo Nacional de Investigaciones Científicas y Tecnológicas- CONICET)
    Abstract: Este trabajo se pregunta sobre cómo se articula el patriarcado del salario con el proceso de superexplotación de la fuerza de trabajo (SEFT). La categoría SEFT, acuñada por Mauro Marini, opera como atractor en torno a la cual se articula el proceso de valorización del capital en la economía dependiente. El trabajo reproductivo ocupa un lugar clave en garantizar condiciones materiales y simbólicas adecuadas para la producción continua de un flujo de fuerza de trabajo disponible para ser directamente explotado por el capital. En el capitalismo, el patriarcado del salario es un medio fundamental para la expropiación del trabajo de las mujeres. ¿Puede servir el concepto de superexplotación del trabajo de reproducción y cuidados para entender la dinámica específica de las economías dependientes? Desarrollaremos una discusión en torno a la naturaleza del concepto de superexplotación y su vinculación con el proceso de explotación del trabajo de las mujeres en economías dependientes.
    Date: 2020–03–20
  20. By: Avishek Bhandari
    Abstract: This study attempts to investigate into the structure and features of global equity markets from a time-frequency perspective. An analysis grounded on this framework allows one to capture information from a different dimension, as opposed to the traditional time domain analyses, where multiscale structures of financial markets are clearly extracted. In financial time series, multiscale features manifest themselves due to presence of multiple time horizons. The existence of multiple time horizons necessitates a careful investigation of each time horizon separately as market structures are not homogenous across different time horizons. The presence of multiple time horizons, with varying levels of complexity, requires one to investigate financial time series from a heterogeneous market perspective where market players are said to operate at different investment horizons. This thesis extends the application of time-frequency based wavelet techniques to: i) analyse the interdependence of global equity markets from a heterogeneous investor perspective with a special focus on the Indian stock market, ii) investigate the contagion effect, if any, of financial crises on Indian stock market, and iii) to study fractality and scaling properties of global equity markets and analyse the efficiency of Indian stock markets using wavelet based long memory methods.
    Date: 2020–03

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