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on Heterodox Microeconomics |
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Issue of 2021‒11‒08
29 papers chosen by Carlo D’Ippoliti Università degli Studi di Roma “La Sapienza” |
| By: | Jacobo Ferrer-Hernández (Department of Economics, New School for Social Research); Luis Daniel Torres-González (Facultad de Economía, UNAM) |
| Abstract: | The paper complements Iliadi’s, Mariolis’, Soklis’, and Tsoulfidis’s (IMST) explanation of the regular monotonic/near monotonic behavior of prices and capital intensities as an effect of hypothetical changes in the rate of profit obtained in empirical production price models with data from input-output accounts. We show that the shapes of the theoretical price and capital value curves depend on the product of the eigenvalues and the eigenlabors, i.e., the representation of the labor-coefficient vector in the space spanned by the eigenvectors of the input-coefficients matrix. We report robust evidence that for each economy in the WIOD database the eigenvalues by themselves cannot produce the conditions for monotonic/near monotonic curves, as claimed by IMST, but rather it is the joint action of the eigenvalues and the eigenlabors. The tendency towards zero of the product of the eigenvalues and the eigenlabors is driven by the statistical tendency towards the proportionality (i) between the columns of the input matrix, and (ii) between the labor vector and the Perron-Frobenius eigenvector of the input-coefficient matrix. The latter constitutes a new stylized fact in the productive structures of modern middle- and high-income economies. |
| Keywords: | Sraffian price models, price-profit rate curves, capital value, spectral representation, labor vector-Perron-Frobenius eigenvector relation |
| JEL: | B51 C67 D57 |
| Date: | 2021–10 |
| URL: | http://d.repec.org/n?u=RePEc:new:wpaper:2119&r= |
| By: | Giovanni Dosi; Elisa Palagi; Andrea Roventini; Emanuele Russo |
| Abstract: | The role of the patent system in the pharmaceutical sector is highly debated also due to its strong public health implications. In this paper we develop an evolutionary, agent-based model of the pharmaceutical industry to explore the impact of different configurations of the patent system upon innovation and competition. The model is able to replicate the main stylized facts of the drug industry as emergent properties. We perform policy experiments to assess the impact of different IPR regimes changing the breadth and length of patents. Results suggest that enlarging the extent and duration of patents yields adverse effects in terms of innovation outcomes, as well as of market competition and consumer welfare. Such general conclusions hold even if one takes into account the possible positive effects on R&D intensity and information disclosure triggered by patents. |
| Keywords: | Innovation; Intellectual property rights; Market power; Pharmaceutical sector; Agent-based models. |
| Date: | 2021–10–28 |
| URL: | http://d.repec.org/n?u=RePEc:ssa:lemwps:2021/37&r= |
| By: | Elisa Palagi; Mauro Napoletano (OFCE - Observatoire français des conjonctures économiques - Sciences Po - Sciences Po); Andrea Roventini (OFCE - Observatoire français des conjonctures économiques - Sciences Po - Sciences Po); Jean-Luc Gaffard (OFCE - Observatoire français des conjonctures économiques - Sciences Po - Sciences Po) |
| Abstract: | We build an agent-based model to study how coordination failures, credit constraints and unequal access to investment opportunities affect inequality and aggregate income dynamics. The economy is populated by households who can invest in alternative projects associated with different productivity growth rates. Access to investment projects also depends on credit availability. The income of each house- hold is determined by the output of the project but also by aggregate demand conditions. We show that aggregate dynamics is affected by income distribution. Moreover, we show that the model features a trickle-up growth dynamics. Redistribution towards poorer households raises aggregate demand and is beneficial for the income growth of all agents in the economy. Extensive numerical simulations show that our model is able to reproduce several stylized facts concerning income inequality and social mobility. Finally, we test the impact of redistributive fiscal policies, showing that fiscal policies facilitating access to investment opportunities by poor households have the largest impact in terms of raising long-run aggregate income and decreasing income inequality. Moreover, policy timing is important: fiscal policies that are implemented too late may have no significant effects on inequality. |
| Keywords: | income inequality,social mobility,credit constraints,coordination failures,effective demand,trickle-up growth,fiscal policy |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:hal-03373193&r= |
| By: | Sarah Guillou (OFCE - Observatoire français des conjonctures économiques - Sciences Po - Sciences Po) |
| Abstract: | The note presents the computation of industry foreign inputs dependency using input-output tables. It gives details on each level of dependency and finish with the infinite computation using the Leontief inverse matrix. It ends with some evidence by using WIOT data from 2000 to 2014 which shows the high growth of the technical dependency to Chinese inputs over the past 15 years. Construction, Telecommunications and Chemicals are Chinese-dependent sectors among the 20 first which also contribute a lot to the French economy. Nevertheless, for France and European countries, the dependency to Chinese inputs is well behind the dependency to European inputs. |
| Keywords: | Input-output tables,Leontief matrix,Inputs dependency,Chinese inputs |
| Date: | 2020–05–20 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:hal-03389189&r= |
| By: | Herr, Hansjörg |
| Abstract: | An economy with a stable medium-term growth rate of zero - or any other politically determined growth rate - needs new regulations and institutions to realise this target. Such an economy would look very different compared with the existing type of capitalism we have today in the Global North. In the existing capitalist system, investment demand as well as autonomous demand elements like government demand, export demand or autonomous consumption demand drive the dynamic of GDP and the whole economic system. In a zero growth economy the different demand aggregates are determined by economic policy including heavy intervention in income and wealth distribution and the direction of technological development. Whether such an alternative system is understood as a version of highly regulated capitalism or as a new system is a question of taste. |
| Keywords: | Transformation of capitalism,economic systems,zero growth |
| JEL: | B20 B52 P41 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:ipewps:1702021&r= |
| By: | Philippe Eynaud (IAE Paris - Sorbonne Business School); Cynthia Srnec; Corinne Vercher-Chaptal |
| Abstract: | This research has benefited from the financial participation of the DARES (Ministry of Labor, Employment and Integration), as part of a research program on the collaborative economy, jointly organized by the DREES (Ministry of Solidarity and Health) and the DARES as part of the call on the topic "Forms of collaborative economy and social protection". The TAPAS program is led by Corinne Vercher-Chaptal, CEPN - Centre d'économie et de gestion (UMR CNRS 7234) of the University of Sorbonne Paris Nord. It gathered a multidisciplinary research team (management, economics, sociology and law), which includes field actors. The program benefits from a partnership with the Plateformes en Communs (PEC) group of the association La Coop des Communs. The TAPAS program aims to deepen the distinction between "platform companies" and so-called "collaborative" or "alternative" platforms. While the former are characterized by vertical governance and the appropriation of most of the value created by the platform manager, alternative platforms are organized in a more horizontal manner and distribute bundles of rights over the resources created, according to the sharing rational of the commons. They participate to a field do action that is likely to emancipate itself from purely commercial principles in order to better address the imperatives of social and environmental sustainability, by mobilizing a plurality of economic principles and by creating links with the initiatives of the digital commons and the social and solidarity economy. The empirical study is based on nine in-depth case studies: CoopCycle, France Barter, Framasoft, Mobicoop, Oiseaux de Passage, Open Food France, SoTicket, Tënk. The corresponding monographs are integrated in the TAPAS collection available on HAL. The analyses conducted by the team aim to provide information on the characteristics and conditions of development of these alternative platforms (in terms of economic models, governance and work) which, through the solutions and innovations they bring, can foreshadow the evolution of innovative practices and regulations. |
| Abstract: | Cette recherche a bénéficié de la participation financière de la DARES (Ministère du travail, de l'emploi et de l'insertion), dans le cadre d'un programme de recherche sur l'économie collaborative, organisé conjointement par la DREES (Ministère des Solidarités et de la Santé) et la DARES dans le cadre de l'APR Formes d'économie collaborative et protection sociale. Le programme TAPAS est piloté par Corinne Vercher-Chaptal, CEPN – Centre d'économie et de gestion (UMR CNRS 7234) de l'Université Sorbonne Paris Nord. Il a mobilisé une équipe de recherche pluridisciplinaire (gestion, économie, sociologie et droit), qui inclue des acteurs de terrain. Le programme bénéficie du partenariat avec le groupe Plateformes en Communs (PEC) de l'association La Coop des Communs. Le programme TAPAS vise à approfondir la distinction entre les « entreprises plateformes » et les plateformes dites « collaboratives » ou « alternatives ». Alors que les premières se caractérisent par une gouvernance verticale et l'appropriation de l'essentiel de la valeur créée par le gestionnaire de la plateforme, les plateformes alternatives s'organisent de manière plus horizontale et répartissent des faisceaux de droits sur les ressources créées, selon la logique de partage des communs. Elles dessinent un champ susceptible de s'émanciper des principes purement marchands afin de mieux répondre à des impératifs de soutenabilité sociale et environnementale, en mobilisant une pluralité de principes économiques et en créant des articulations avec les initiatives des communs numériques et de l'économie sociale et solidaire. L'étude empirique repose sur neuf études de cas en profondeur : CoopCycle, France Barter, Framasoft, Mobicoop, Oiseaux de Passage, Open Food France, SoTicket, Tënk. Les monographies correspondantes sont intégrées dans la collection TAPAS mise à disposition sur HAL. Les analyses menées par l'équipe vise à renseigner les caractéristiques et les conditions de développement de ces plateformes alternatives (en termes de modèles économiques, de gouvernance et de travail) qui peuvent, par les solutions et les innovations dont elles sont porteuses, préfigurer l'évolution des pratiques et des régulations novatrices. |
| Keywords: | Alternative platforms,Cooperative platforms,platform cooperativism,collaborative economy,TAPAS,Plateforme alternative,Plateforme coopérative,coopérativisme de plateforme,économie collaborative |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:hal-03363899&r= |
| By: | Ahmet Faruk Aysan (HBKU - Hamad Bin Khalifa University); Fouad Bergigui |
| Abstract: | Since the adoption of the SDGs in 2015, it has been a 5-year journey of trial and error experimentations all over the world to come up with innovative solutions beyond business-as-usual and get the job done. In this paper, we assess blockchain-backed solutions beyond the hype. While the technology has a promising potential to trigger disruptive innovations to fulfill the SGDs, it is not mature yet with many gaps in terms of approaches and tools to develop blockchain use cases, monitor and evaluate blockchain experiments, mitigate associated risks and ethical considerations while managing changes within organizations leading blockchain-powered platforms. It is only by filing these gaps that blockchain can deliver its promises and may be effectively used as an SDG accelerator. Islamic finance can play a key role in shaping the transition towards a more circular economy. One promising way of doing so, is by scaling-up the use of blockchainenabled solutions in the practices of circular economy and Islamic finance. As the technology is still getting mature, more innovative and applied research is needed to capitalize on the lessons learned within various geographies and across a wide range of economic, social, and environmental spectrums. |
| Keywords: | Blockchain,SDGs,innovation,Islamic finance,circular economy |
| Date: | 2021–10–05 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:hal-03364964&r= |
| By: | Philippe Eynaud (IAE Paris - Sorbonne Business School); Cynthia Srnec |
| Abstract: | This research has benefited from the financial participation of the DARES (Ministry of Labor, Employment and Integration), as part of a research program on the collaborative economy, jointly organized by the DREES (Ministry of Solidarity and Health) and the DARES as part of the call on the topic "Forms of collaborative economy and social protection". The TAPAS program is led by Corinne Vercher-Chaptal, CEPN - Centre d'économie et de gestion (UMR CNRS 7234) of the University of Sorbonne Paris Nord. It gathered a multidisciplinary research team (management, economics, sociology and law), which includes field actors. The program benefits from a partnership with the Plateformes en Communs (PEC) group of the association La Coop des Communs. The TAPAS program aims to deepen the distinction between "platform companies" and so-called "collaborative" or "alternative" platforms. While the former are characterized by vertical governance and the appropriation of most of the value created by the platform manager, alternative platforms are organized in a more horizontal manner and distribute bundles of rights over the resources created, according to the sharing rational of the commons. They participate to a field do action that is likely to emancipate itself from purely commercial principles in order to better address the imperatives of social and environmental sustainability, by mobilizing a plurality of economic principles and by creating links with the initiatives of the digital commons and the social and solidarity economy. The empirical study is based on nine in-depth case studies: CoopCycle, France Barter, Framasoft, Mobicoop, Oiseaux de Passage, Open Food France, SoTicket, Tënk. The corresponding monographs are integrated in the TAPAS collection available on HAL. The analyses conducted by the team aim to provide information on the characteristics and conditions of development of these alternative platforms (in terms of economic models, governance and work) which, through the solutions and innovations they bring, can foreshadow the evolution of innovative practices and regulations. |
| Abstract: | Cette recherche a bénéficié de la participation financière de la DARES (Ministère du travail, de l'emploi et de l'insertion), dans le cadre d'un programme de recherche sur l'économie collaborative, organisé conjointement par la DREES (Ministère des Solidarités et de la Santé) et la DARES dans le cadre de l'APR Formes d'économie collaborative et protection sociale. Le programme TAPAS est piloté par Corinne Vercher-Chaptal, CEPN – Centre d'économie et de gestion (UMR CNRS 7234) de l'Université Sorbonne Paris Nord. Il a mobilisé une équipe de recherche pluridisciplinaire (gestion, économie, sociologie et droit), qui inclue des acteurs de terrain. Le programme bénéficie du partenariat avec le groupe Plateformes en Communs (PEC) de l'association La Coop des Communs. Le programme TAPAS vise à approfondir la distinction entre les « entreprises plateformes » et les plateformes dites « collaboratives » ou « alternatives ». Alors que les premières se caractérisent par une gouvernance verticale et l'appropriation de l'essentiel de la valeur créée par le gestionnaire de la plateforme, les plateformes alternatives s'organisent de manière plus horizontale et répartissent des faisceaux de droits sur les ressources créées, selon la logique de partage des communs. Elles dessinent un champ susceptible de s'émanciper des principes purement marchands afin de mieux répondre à des impératifs de soutenabilité sociale et environnementale, en mobilisant une pluralité de principes économiques et en créant des articulations avec les initiatives des communs numériques et de l'économie sociale et solidaire. L'étude empirique repose sur neuf études de cas en profondeur : CoopCycle, France Barter, Framasoft, Mobicoop, Oiseaux de Passage, Open Food France, SoTicket, Tënk. Les monographies correspondantes sont intégrées dans la collection TAPAS mise à disposition sur HAL. Les analyses menées par l'équipe vise à renseigner les caractéristiques et les conditions de développement de ces plateformes alternatives (en termes de modèles économiques, de gouvernance et de travail) qui peuvent, par les solutions et les innovations dont elles sont porteuses, préfigurer l'évolution des pratiques et des régulations novatrices. |
| Keywords: | Alternative Platforms,Collaborative economy,Barter,Cooperative platform,TAPAS,Plateforme alternative,Economie collaborative,Plateforme coopérative |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:hal-03363826&r= |
| By: | Ana Sofia Acosta Alvarado (CEPN - Centre d'Economie de l'Université Paris Nord - LABEX ICCA - UP13 - Université Paris 13 - Université Sorbonne Nouvelle - Paris 3 - CNRS - Centre National de la Recherche Scientifique - UP - Université de Paris - Université Sorbonne Paris Nord - CNRS - Centre National de la Recherche Scientifique - Université Sorbonne Paris Nord); Laura Aufrère (CEPN - Centre d'Economie de l'Université Paris Nord - LABEX ICCA - UP13 - Université Paris 13 - Université Sorbonne Nouvelle - Paris 3 - CNRS - Centre National de la Recherche Scientifique - UP - Université de Paris - Université Sorbonne Paris Nord - CNRS - Centre National de la Recherche Scientifique - Université Sorbonne Paris Nord); Cynthia Srnec |
| Abstract: | This research has benefited from the financial participation of the DARES (Ministry of Labor, Employment and Integration), as part of a research program on the collaborative economy, jointly organized by the DREES (Ministry of Solidarity and Health) and the DARES as part of the call on the topic "Forms of collaborative economy and social protection". The TAPAS program is led by Corinne Vercher-Chaptal, CEPN - Centre d'économie et de gestion (UMR CNRS 7234) of the University of Sorbonne Paris Nord. It gathered a multidisciplinary research team (management, economics, sociology and law), which includes field actors. The program benefits from a partnership with the Plateformes en Communs (PEC) group of the association La Coop des Communs. The TAPAS program aims to deepen the distinction between "platform companies" and so-called "collaborative" or "alternative" platforms. While the former are characterized by vertical governance and the appropriation of most of the value created by the platform manager, alternative platforms are organized in a more horizontal manner and distribute bundles of rights over the resources created, according to the sharing rational of the commons. They participate to a field do action that is likely to emancipate itself from purely commercial principles in order to better address the imperatives of social and environmental sustainability, by mobilizing a plurality of economic principles and by creating links with the initiatives of the digital commons and the social and solidarity economy. The empirical study is based on nine in-depth case studies: CoopCycle, France Barter, Framasoft, Mobicoop, Oiseaux de Passage, Open Food France, SoTicket, Tënk. The corresponding monographs are integrated in the TAPAS collection available on HAL. The analyses conducted by the team aim to provide information on the characteristics and conditions of development of these alternative platforms (in terms of economic models, governance and work) which, through the solutions and innovations they bring, can foreshadow the evolution of innovative practices and regulations. |
| Abstract: | Cette recherche a bénéficié de la participation financière de la DARES (Ministère du travail, de l'emploi et de l'insertion), dans le cadre d'un programme de recherche sur l'économie collaborative, organisé conjointement par la DREES (Ministère des Solidarités et de la Santé) et la DARES dans le cadre de l'APR Formes d'économie collaborative et protection sociale. Le programme TAPAS est piloté par Corinne Vercher-Chaptal, CEPN – Centre d'économie et de gestion (UMR CNRS 7234) de l'Université Sorbonne Paris Nord. Il a mobilisé une équipe de recherche pluridisciplinaire (gestion, économie, sociologie et droit), qui inclue des acteurs de terrain. Le programme bénéficie du partenariat avec le groupe Plateformes en Communs (PEC) de l'association La Coop des Communs. Le programme TAPAS vise à approfondir la distinction entre les « entreprises plateformes » et les plateformes dites « collaboratives » ou « alternatives ». Alors que les premières se caractérisent par une gouvernance verticale et l'appropriation de l'essentiel de la valeur créée par le gestionnaire de la plateforme, les plateformes alternatives s'organisent de manière plus horizontale et répartissent des faisceaux de droits sur les ressources créées, selon la logique de partage des communs. Elles dessinent un champ susceptible de s'émanciper des principes purement marchands afin de mieux répondre à des impératifs de soutenabilité sociale et environnementale, en mobilisant une pluralité de principes économiques et en créant des articulations avec les initiatives des communs numériques et de l'économie sociale et solidaire. L'étude empirique repose sur neuf études de cas en profondeur : CoopCycle, France Barter, Framasoft, Mobicoop, Oiseaux de Passage, Open Food France, SoTicket, Tënk. Les monographies correspondantes sont intégrées dans la collection TAPAS mise à disposition sur HAL. Les analyses menées par l'équipe vise à renseigner les caractéristiques et les conditions de développement de ces plateformes alternatives (en termes de modèles économiques, de gouvernance et de travail) qui peuvent, par les solutions et les innovations dont elles sont porteuses, préfigurer l'évolution des pratiques et des régulations novatrices. |
| Keywords: | Alternative platform,cooperative platform,cyclo-logitstics,European Federation,TAPAS,Plateforme alternative,plateforme coopérative,cyclo-logistique,Fédération européenne |
| Date: | 2021–09 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:hal-03364001&r= |
| By: | Jungmann, Benjamin |
| Abstract: | This paper contributes to the ongoing growth models (GMs) debate by investigating the growth drivers of emerging capitalist economies (ECEs) in the periods before (2000-2008) and after (2009-2019) the Global Financial Crisis (GFC). By drawing mostly on post-Keynesian economics, six growth drivers are considered: Finance, i.e., household debt; changes in income distribution; price and non-price competitiveness, as well as commodity prices; and finally, fiscal policy. By conducting crosscountry simple and multiple linear regressions to explain the growth of 19 ECEs in both periods, we find that post-GFC growth was driven by non-price factors while price competitiveness played a role in neither period. Likewise, commodity prices did not drive growth either. In terms of distribution, our results indicate that cross-country growth was driven by rising income inequality in both periods; however, this relation lacks significance. In the post-crisis period, growth was associated with rising profit shares. While this relation also lacks significance, it has to be assessed against various possibilities for seemingly profit-led growth. Finally, with household debt accelerating and fiscal policy becoming more expansionary after the crisis, our results indicate a potentially more prominent role for these factors in driving post-crisis growth, however, this finding lacks robustness. We argue that the sparse robust findings result from ECEs' heterogeneity, particularly in terms of their growth models and subordinated financialization. |
| Keywords: | growth model,growth driver,financialization,emerging capitalist economies,post-Keynesian economics |
| JEL: | E11 E12 E65 F62 F65 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:ipewps:1722021&r= |
| By: | Bichler, Shimshon; Nitzan, Jonathan |
| Abstract: | The study of society today is divided into different disciplines – the so-called social sciences – a division that fractures our consciousness into disconnected bits and pieces. Literature does the very opposite: it brings things together, offering glimpses into the enfolded, hologramic nature of society. Here are some of the novels that helped us understand this hologramic enfoldment from different angles. They are all worth reading. |
| Keywords: | literature,political economy |
| JEL: | P16 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:esprep:243303&r= |
| By: | Mattia Guerini (OFCE - Observatoire français des conjonctures économiques - Sciences Po - Sciences Po); Philipp Harting; Mauro Napoletano (OFCE - Observatoire français des conjonctures économiques - Sciences Po - Sciences Po) |
| Abstract: | We develop a model to study the impact of corporate governance on firm investment decisions and industry competition. In the model, governance structure affects the distribution of shares among short- and long-term oriented investors, the robustness of the management regarding pos- sible stockholder interference, and the managerial remuneration scheme. A bargaining process between firm's stakeholders determines the optimal allocation of financial resources between real investments in R&D and financial investments in shares buybacks. We characterize the relation between corporate governance and firm's optimal investment strategy and we study how different governance structures shape technical progress and the degree of competition over the industrial life cycle. Numerical simulations of a calibrated set-up of the model show that pooling together industries characterized by heterogeneous governance structures generate the well-documented inverted-U shaped relation between competition and innovation. |
| Keywords: | governance structure,industry dynamics,competition,technical change |
| Date: | 2020 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:hal-03374377&r= |
| By: | Bruno Tinel (CES - Centre d'économie de la Sorbonne - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique) |
| Abstract: | In Risking Together, Bryan and Rafferty think in the manner of behavioural finance, but they think against it and invent Marxist behavioural finance. They show how households' subjectivity is reshaped by finance in their daily life, and how they unwittingly have become a key player in the production process of derivatives. Households are now integrated into finance on the supply side, through the securitization of their debt but also of their payments, and on the demand side through their savings. Households have collectively become net risk absorbers. What about the systemic issues of the financial loop in which households are now inserted? Considering the omnipotence of finance that transfers risks to households, the social institutionalization of default risk is now required. |
| Abstract: | Bryan et M. Rafferty Résumé Dans Risking together, Bryan et Rafferty pensent à la manière de la finance comportementale, mais ils pensent contre elle et inventent la Marxian behavioural finance. Ils montrent en quoi les ménages, amenés à penser à la manière de la finance dans leur vie quotidienne, sont devenus malgré eux un acteur clé du processus de production des produits dérivés. Les ménages sont désormais intégrés à la finance du côté offre, par la titrisation de leur dette mais aussi de leurs paiements, et du côté demande par leur épargne. Il convient alors de préciser les enjeux systémiques de la boucle financière dans laquelle s'insèrent désormais les ménages, devenus collectivement absorbeurs nets de risque. Face à la toute-puissance d'une finance qui transfère les risques aux ménages, s'impose désormais l'institutionnalisation sociale du risque de défaut. |
| Keywords: | Produits dérivés,titrisation,financiarisation,ménages,transfert du risque Derivatives,securitisation,financialization,households,risk transfer |
| Date: | 2021–08–12 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:halshs-03389630&r= |
| By: | Severin Reissl; Alessandro Caiani; Francesco Lamperti; Mattia Guerini; Fabio Vanni (OFCE - Observatoire français des conjonctures économiques - Sciences Po - Sciences Po); Giorgio Fagiolo; Tommaso Ferraresi; Leonardo Ghezzi; Mauro Napoletano (OFCE - Observatoire français des conjonctures économiques - Sciences Po - Sciences Po); Andrea Roventini (OFCE - Observatoire français des conjonctures économiques - Sciences Po - Sciences Po) |
| Abstract: | We build a novel computational input-output model to estimate the economic impact of lockdowns in Italy. The key advantage of our framework is to integrate the regional and sectoral dimensions of economic production in a very parsimonious numerical simulation framework. Lockdowns are treated as shocks to available labor supply and they are calibrated on regional and sectoral employment data coupled with the prescriptions of government decrees. We show that when estimated on data from the first "hard" lockdown, our model closely reproduces the observed economic dynamics during spring 2020. In addition, we show that the model delivers a good out-of-sample forecasting performance. We also analyze the effects of the second "mild" lockdown in fall of 2020 which delivered a much more moderate negative impact on production compared to both the spring 2020 lockdown and to a hypothetical second "hard" lockdown. |
| Keywords: | input-output,Covid-19,lockdown,Italy |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:hal-03373672&r= |
| By: | Irina Sinziana OPINCARU (University of Bucharest (Romania)) |
| Abstract: | Setting up a framework for monitoring, evaluation and impact measurement can be a complex and elaborate task for an organisation in the social economy sector. This paper uses a case study approach to present the experience and journey in setting up a framework for monitoring and evaluation, with implications for assessing the impact of such an organisation - CONCORDIA Humanitarian Organisation in Romania. Building on the scholarly works on the evaluation of SE organisations, with a focus on theory-based evaluations, this paper aims to give accounts on these evaluation and impact assessment activities in practice. What approach and methodology were seen as the most suitable for measuring its social impact at organisational level, given the context and the specifics of its activities? How is monitoring and evaluation integrated in the current activities of the organisation? What challenges lay ahead in this process? The paper builds on CONCORDIA Romania’s experience of conducting one of the first impact studies of a SE in Romania - for its social enterprise CONCORDIA Bakery - and on the organisation’s recent strategy for institutionalising a monitoring and evaluation framework based on the Theory of Change at organisational level, in order to better understand its social and economic contribution. |
| Keywords: | social impact, theory-based evaluation, theory of change, social enterprise, social economy |
| JEL: | A13 H43 L30 L31 O35 |
| Date: | 2021–05 |
| URL: | http://d.repec.org/n?u=RePEc:crc:wpaper:2105&r= |
| By: | Jacques Fontanel (CESICE - Centre d'études sur la sécurité internationale et les coopérations européennes - UPMF - Université Pierre Mendès France - Grenoble 2 - IEPG - Sciences Po Grenoble - Institut d'études politiques de Grenoble) |
| Abstract: | For liberal economists, with the end of the Soviet Union, globalization is a step towards peace. However, war is still a threat for a humanity capable today of committing suicide, with nuclear and cybernetic weapons. The analyses of mercantilism do not disappear and the relations of force are still alive. The nature of "war" has changed. National security cannot be limited to the military, it also includes health, education, industrial risks or the protection of natural resources. The economy is both a cause of war and a means of armed conflict. Economic warfare uses weapons adapted to obtain a right or the exercise of a domination. As such, blockades, embargoes, boycotts or mercantilist-type power actions are techniques of war or conflict recognized by States. The international economic system is largely dominated and organized by the great powers and by multinational corporations. Moreover, the coercive power of states is mainly controlled by the largest multinationals. The current globalization is criticized, it is accused of developing inequalities and factors of conflicts, by giving power to the actors of international finance and to an unscrupulous commercial world. With the process of digitalization, a new type of colonialism in a dematerialized world deeply influenced by mercantilist behavior. There is a need for economic and social democratization of democracy. |
| Date: | 2021–10–15 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-03381421&r= |
| By: | Uribe Huerta, Alexandra (Facultad de Economía y Negocios, Universidad de Chile, Santiago, Chile.) |
| Abstract: | El siguiente documento se trata sobre lo que se conoce de la participación histórica de las mujeres en las ciencias económicas en términos generales y cómo se ha desarrollado en los espacios económicos, haciendo una revisión de organizaciones alrededor del mundo. Específicamente, Chile es de los países que cuentan con menos información al respecto, sin embargo, se presentan algunos datos y opiniones relevantes que describen el panorama. Con el fin de ampliar la información que se tiene del tema, este documento contiene un estudio cualitativo que se sustenta en relatos de mujeres que estudian o estudiaron Ingeniería Comercial mención Economía en la Facultad de Economía y Negocios de la Universidad de Chile. A partir del análisis de estos relatos recolectados a través de entrevistas se intenta construir un marco que permita entender cómo ha sido la experiencia de las mujeres estudiando en esta facultad y trabajando en las ciencias económicas, e identificar la existencia de barreras asociadas al género para su desarrollo profesional. |
| Keywords: | mujeres; economía; ciencias económicas; género; roles de género; estereotipos de género; discriminación por género; ambiente masculinizado; academia; machismo |
| JEL: | A13 J16 Z13 |
| Date: | 2021–10–29 |
| URL: | http://d.repec.org/n?u=RePEc:ris:enedoc:0008&r= |
| By: | Éloi Laurent (OFCE - Observatoire français des conjonctures économiques - Sciences Po - Sciences Po) |
| Abstract: | This article proposes, in the light of the French case, to consider building a social-ecological protection aimed at reducing the health and economic impact of the heatwaves caused by climate change by answering five successive questions: why protect? Protect from what? What to protect? Whom to protect? How to protect? |
| Abstract: | Cet article propose, à la lumière du cas français, des éléments d'analyse en vue de l'édification d'une protection sociale-écologique visant à atténuer l'impact sanitaire et économique des fortes chaleurs engendrées par le dérèglement climatique, en répondant à cinq questions successives : Pourquoi protéger ? De quoi protéger ? Que protéger ? Qui protéger ? Comment protéger ? |
| Keywords: | France,heatwaves,elderly,social-ecological risk,insurance |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:hal-03373456&r= |
| By: | Schetter, Ulrich |
| JEL: | F10 F11 F14 O49 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:vfsc21:242451&r= |
| By: | Carlo Zappia (Università degli Studi di Siena) |
| Abstract: | On the occasion of the assessment of the enduring influence of Keynes's Treatise on Probability at 100 years, this paper focuses on its relevance for decision theory. The paper places emphasis on Keynes's introduction of the epistemic notion of probabilities that often are non-numerical, as a theoretical object intended to replace frequency probabilities. The paper argues that, as non-numerical probabilities make it possible to deal with uncertainty as if individuals were endowed with interval-valued probabilities, Keynes's 1921 critique of contemporary frequency probability theory turns out to be relevant also with regard to the yet to be established subjective probability theory. Although non-numerical probabilities were used by Keynes to criticize the contemporary application of probability to conduct, it must be acknowledged that, still today, they may constitute an appropriate tool for decision-making when confronting uncertainty, as he hinted at in his late 1930s correspondence with Hugh Townshend. |
| Keywords: | probability, uncertainty, decision-making |
| JEL: | B21 B31 D81 |
| Date: | 2021–10 |
| URL: | http://d.repec.org/n?u=RePEc:gre:wpaper:2021-36&r= |
| By: | Jakob Kapeller (Institute for Socio-Economics, University of Duisburg-Essen, Germany; Institute for Comprehensive Analysis of the Economy, Johannes Kepler University Linz, Austria); Claudius Graebner-Radkowitsch (Institute for Socio-Economics, University of Duisburg-Essen, Germany; Institute for Comprehensive Analysis of the Economy, Johannes Kepler University Linz, Austria; ZOE Institute for future-fit Economies, Bonn, Germany; International lnstitute of Management and Economic Education, Europa-Universitaet Flennsburg, Germany) |
| Abstract: | Dieser Beitrag illustriert theoretische Argumente zu den Charakteristika vergangener und gegenwaertiger Globalisierungsprozesse am Beispiel des (ehemaligen) MAN-Produktionsstandortes Steyr. Dabei wird gezeigt, wie sich allgemeine Dynamiken verstärkter internationaler Eigentumskonzentration und Arbeitsteilung sowie ihre gesellschaftlichen Folgen - wie geringere staatliche Regulierungskapazitaet oder staerkere Machtasymmetrien - an einem konkreten Beispiel abbilden. Darueber hinaus weist der Beitrag auf weiterfuehrende Aspekte hin, die für eine politische Diskussion der Folgen standortpolitischer Entscheidungen von Konzernzentralen relevant erscheinen, insbesondere den internationalen Standortwettbewerb und seine konkrete Auspraegung auf europaeischer Ebene. Diese Ausfuehrungen zeigen, dass am Gemeinwohl orientierte institutionelle Einbettung der Globalisierung notwendig ist, aber nur gelingen kann, wenn politischen Maßnahmen auf lokaler und internationaler Ebene komplementaer ausgestaltet werden. |
| Date: | 2021–10 |
| URL: | http://d.repec.org/n?u=RePEc:ico:wpaper:131&r= |
| By: | Brödner, Romy (DBFZ Deutsches Biomasseforschungszentrum gemeinnützige GmbH); Graffenberger, Martin (DBFZ Deutsches Biomasseforschungszentrum gemeinnützige GmbH); Kropp, Per (Institute for Employment Research (IAB), Nuremberg, Germany); Sujata, Uwe (Institute for Employment Research (IAB), Nuremberg, Germany) |
| Abstract: | "The upcoming structural change in Lusatia, Central Germany and the Rhineland in the context of the coal phase-out offers the opportunity to develop attractive, bioeconomic business locations. This study analyzes the status quo and the development of the bioeconomy in the three active German lignite mining regions. The employment structures of the bioeconomy are evaluated and regional bioeconomy industries with specific potential are identified. Overall, about 10 percent of all employees in the regions can be directly attributed to the bioeconomy. Employment within the bioeconomy has developed dynamically in recent years. The proportion of skilled workers, including those with industrial and technical backgrounds, is comparatively high in the bioeconomy. Hence, opportunities for qualified employees of the coal industry also exist within the developing bioeconomy. Furthermore, the identified bioeconomy industries already indicate a balanced structure of the bioeconomic in the regions. Accordingly, a regionally sensitive, strategic promotion of the bioeconomy can strengthen innovation capacity and competitiveness of the regions, secure/generate employment and generally contribute to sustainable development." (Author's abstract, IAB-Doku) ((en)) |
| JEL: | E24 J21 Q57 |
| Date: | 2021–10–25 |
| URL: | http://d.repec.org/n?u=RePEc:iab:iabdpa:202114&r= |
| By: | Evdokia Moïsé; Stela Rubínová |
| Abstract: | Trade negotiations are frequently accompanied by sustainability impact assessment (SIA) to evaluate the potential economic, environmental, social and human rights effects of a possible agreement. SIAs can help promote environmental protection, and support the better integration of women, vulnerable populations, and small businesses into the global economy, as well as address growing concerns from civil society. They provide a critical opportunity for dialogue among stakeholders and trade policy makers, and thereby help to rebuild confidence in the trading system. However, SIA approaches ‒ including economic modelling, qualitative causal chain analysis and stakeholder consultations ‒ each have their strengths, challenges and limitations. Those need to be understood by policy makers if reliable and policy relevant conclusions are to be provided. This paper offers a perspective on the challenges and opportunities of various approaches and discusses best practices for assessing the sustainability impact of trade and trade agreements. |
| Keywords: | CGE models, Qualitative methods, Stakeholder dialogue, Sustainable growth, Trade liberalisation |
| JEL: | A13 B41 F6 F13 F18 |
| Date: | 2021–11–03 |
| URL: | http://d.repec.org/n?u=RePEc:oec:traaab:255-en&r= |
| By: | Minh Tam Bui; Ivo Vlaev |
| Abstract: | Ageing society poses an increasing need for elderly care and the essential role of unpaid family care. Using time-use data of Thailand 2014/2015, we found significant gender gaps in providing eldercare across heterogenous groups. The novelty of this study is a measurement of altruism proxy, its gender bias to examine the effects of caregiver’s altruistic behavior on care provision and to explain the caregiving burden on women. Our analysis reveals that education has different effects on care among male and female caregivers, but not the employment status. The instrumental variable modelling reveals that reducing men’s paid work is unlikely to raise their time spent on eldercare and swapping leisure time for care time is one-for-one among men but multiplicative among women. Strong associations between altruism and peer pressure imply behavioral change strategies to target social norms and underpin policy interventions beside the state provision of long-term care for a more equitable eldercare work. |
| Keywords: | Unpaid Work; Elder Care; Gender Gaps; Altruism; Behavioral Change; Time Use |
| JEL: | D13 D64 D9 J14 J16 J22 |
| Date: | 2021–11 |
| URL: | http://d.repec.org/n?u=RePEc:pui:dpaper:166&r= |
| By: | Chu, Angus; Kou, Zonglai; Wang, Xilin |
| Abstract: | This study explores the conflict of interests between workers and capitalists in a Schumpeterian economy. We consider the limit on the market power of monopolistic firms as a policy instrument and derive its optimal levels for workers and capitalists, respectively. Because monopolistic profit provides incentives for innovation, workers may prefer monopolistic firms to have some market power, but they prefer less powerful monopolistic firms than capitalists. Workers' preferred level of monopolistic power is decreasing in their discount rate and increasing in innovation productivity and the quality step size. Capitalists' preferred level of monopolistic power is increasing in the quality step size. We use the difference in levels preferred by workers and capitalists to measure the severity of their conflict of interests, which becomes less severe when workers' discount rate falls or innovation productivity rises. Finally, at a small (large) quality step size, enlarging the step size mitigates (worsens) their conflict. |
| Keywords: | economic growth; workers; capitalists; class struggle |
| JEL: | E11 O3 O4 |
| Date: | 2021–11 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:110479&r= |
| By: | Cyprien Batut (PSE - Paris School of Economics - ENPC - École des Ponts ParisTech - ENS Paris - École normale supérieure - Paris - PSL - Université Paris sciences et lettres - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique - EHESS - École des hautes études en sciences sociales - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement, DGTPE - Direction Générale du Trésor et de la Politique Economique - Ministère de l'Economie, des Finances et de l'Industrie); Caroline Coly (Bocconi University - Bocconi University [Milan, Italy], PSE - Paris School of Economics - ENPC - École des Ponts ParisTech - ENS Paris - École normale supérieure - Paris - PSL - Université Paris sciences et lettres - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique - EHESS - École des hautes études en sciences sociales - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement, AXA - Groupe AXA, PJSE - Paris Jourdan Sciences Economiques - UP1 - Université Paris 1 Panthéon-Sorbonne - ENS Paris - École normale supérieure - Paris - PSL - Université Paris sciences et lettres - EHESS - École des hautes études en sciences sociales - ENPC - École des Ponts ParisTech - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement); Sarah Schneider-Strawczynski (PSE - Paris School of Economics - ENPC - École des Ponts ParisTech - ENS Paris - École normale supérieure - Paris - PSL - Université Paris sciences et lettres - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique - EHESS - École des hautes études en sciences sociales - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement, PJSE - Paris Jourdan Sciences Economiques - UP1 - Université Paris 1 Panthéon-Sorbonne - ENS Paris - École normale supérieure - Paris - PSL - Université Paris sciences et lettres - EHESS - École des hautes études en sciences sociales - ENPC - École des Ponts ParisTech - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement) |
| Abstract: | Sexual harassment and sexists behaviors are pervasive issues in the workplace. Around 12% of women in France have been subjected to toxic behaviors at work in the last year, including sexist comments, moral, sexual or physical harassment, or violence. Such toxic behaviors can not only deter women from entering the labor market, but can also lead them to leave toxic workplaces at their own expense. This article is one of the first to examine the relationship between toxic behaviors and worker flows. We use the #MeToo movement as an exogenous shock to France's workplace norms regarding toxic behaviors. We combine survey data on reported toxic behaviors in firms with exhaustive administrative data to create a measure of toxic behaviors risk for all French establishments. We use a tripledifference strategy comparing female and male worker flows in high-risk versus low-risk firms before and after #MeToo. We find that #MeToo increased women's relative quit rates in higher-risk workplaces, while men's worker flows remained unaffected. This demonstrates the existence of a double penalty for women working in high-risk environments, as they are not only more frequently the victims of toxic behaviors, but are also forced to quit their jobs in order to avoid them. |
| Keywords: | Occupational Gender Inequality,Workflows,Sexual harassment,Social Movement |
| Date: | 2021–10 |
| URL: | http://d.repec.org/n?u=RePEc:hal:psewpa:halshs-03403513&r= |
| By: | Zvonimir Bašic (Max Planck Institute for Research on Collective Goods); Parampreet C. Bindra (University of Innsbruck); Daniela Glätzle-Rützler (University of Innsbruck); Angelo Romano (Max Planck Institute for Research on Collective Goods); Matthias Sutter (Max Planck Institute for Research on Collective Goods, University of Cologne, University of Innsbruck, IZA Bonn, and CESifo Munich); Claudia Zoller (Max Planck Institute for Research on Collective Goods) |
| Abstract: | Understanding the roots of human cooperation among strangers is of great importance for solving pressing social dilemmas and maintening public goods in human societies. We study the development of cooperation in 929 young children, aged 3 to 6. In a unified experimental framework, we examine which of three fundamental pillars of human cooperation – direct and indirect reciprocity as well as third-party punishment – emerges earliest as an effective means to increase cooperation in a repeated prisoner’s dilemma game. We find that third-party punishment exhibits a strikingly positive effect on cooperation rates by doubling them in comparison to a control condition. It promotes cooperative behavior even before punishment of defectors is applied. Children also engage in reciprocating others, showing that reciprocity strategies are already prevalent at a very young age. However, direct and indirect reciprocity treatments do not increase overall cooperation rates, as young children fail to anticipate the benefits of reputation building. We also show that the cognitive skills of children and the socioeconomic background of parents play a vital role in the early development of human cooperation. |
| Keywords: | Cooperation, reciprocity, third-party punishment, reputation, children, parents, cognitive abilities, socioeconomic status, prisoner’s dilemma game, experiment |
| JEL: | C91 C93 D01 D91 H41 |
| Date: | 2021–06–11 |
| URL: | http://d.repec.org/n?u=RePEc:mpg:wpaper:2021_14&r= |
| By: | Claire SIMONNEAU; Éric DENIS |
| Abstract: | Alors que la notion de « communs » fait l’objet d’un regain d’intérêt remarquable dans le monde académique, opérationnel ou politique depuis une dizaine d’années, peu de travaux se sont intéressés à la question du foncier pour l’habitat dans les villes des Suds. L’accès au sol urbain est pourtant un enjeu majeur pour les citadins de ces villes en pleine croissance, déterminant pour l’amélioration des conditions de vie quotidiennes et pour l’accès à un « logement convenable », selon la terminologie onusienne. L’approche dominante en matière de foncier urbain, orientée vers la pleine propriété privée et le marché libre, génère accaparement spéculatif et exclusion des ménages les plus précaires. La force critique de la notion de communs ouvre des voies innovantes pour produire de l’habitat dans les Suds, selon des perspectives plurielles et attentives aux besoins et pouvoir d’agir des habitants. Ce papier de recherche présente les résultats du programme de recherche « Communs fonciers pour l’habitat dans les Suds », piloté par l’UMR Géographie-cités et mené en collaboration avec des chercheurs sur les terrains étudiés. Le programme a bénéficié d’un financement de l’Agence Française de Développement (AFD) de 2017 à 2020, et s’inscrit dans les réflexions de l’AFD sur l’articulation entre communs et développement. L’équipe a mené huit études de cas représentant trois types de dispositifs : (i) des dispositifs de production collective d’habitat, comme les coopératives d’habitants usufruitiers en Uruguay, les coopératives d’habitat au Burkina Faso, et un Community Land Trust au Kenya ; (ii) des processus sociojuridiques de réclamation collective de droits fonciers (commoning), notamment des mobilisations collectives pour régulariser des droits fonciers individuels à Bangalore et Nagpur en Inde et la prescription acquisitive collective au Brésil; (iii) des projets d’aménagement et de développement immobilier sur des terres détenues de manière collective, à l’instar des aménagements sur terres coutumières kanaks en Nouvelle-Calédonie et sur terres ejidales au Mexique. Leur mise en regard permet d’établir plusieurs lignes d’analyse. Ainsi, ce papier de recherche souligne la diversité des communs, hybrides, perméables, évolutifs – dans l’espace et dans le temps – orientés vers l’obtention et la sécurisation de droits d’accès au foncier et à l’habitat et aux services associés, qui naissent bien souvent d’opportunités spécifiques. Le papier se penche sur les manières originales de détenir le foncier : en commun, pour une fonction d’habitat et dans une perspective non-spéculative (quand le transfert du foncier s’effectue selon un encadrement décidé au préalable par le collectif, sans plus-value). Les communs peuvent alors s’entendre comme une politique sociale de l’habitat, en proposant un accès au logement aux catégories sociales les plus vulnérables. En outre, ils peuvent constituer une alternative aux politiques publiques de logement plus classiques tournées vers l’accès à la propriété privée individuelle. Si ces initiatives résultent de collectifs d’habitants organisés, elles sont parfois encadrées par les gouvernements nationaux comme les coopératives d’habitants en Uruguay. Souvent acceptés, encouragés voire érigés en modèles à suivre, les communs font l’objet d’une attention accrue ces dernières années par des fédérations d’habitants, des associations, ONG et institutions internationales qui documentent leur fonctionnement et contribuent à la circulation internationale de ces idées alternatives. Aux côtés de ces acteurs, ce rapport contribue d’une manière critique au plaidoyer international des enjeux relatifs aux communs. |
| JEL: | Q |
| Date: | 2021–10–14 |
| URL: | http://d.repec.org/n?u=RePEc:avg:wpaper:fr13183&r= |
| By: | Hein, Eckhard; Jimenez, Valeria |
| Abstract: | This paper tries to clarify some important aspects around the zero-growth discussion. Starting from an accounting perspective, we analyse the implications of zero growth and clarify the stability conditions of such an economy. This is complemented with a monetary circuit approach - which, like any model, has to respect the national income and financial accounting conventions. The latter allows us to show that a stationary economy, i.e an economy with zero net investment, is compatible with positive profits and interest rates. It is also argued that a stationary economy does not generate systemic financial instability, in the sense of rising or falling financial assets- or financial liabilities-income ratios, if the financial balances of each macroeconomic sector are zero. In order to analyse the dynamic stability of such an economy, we make use of an autonomous demand-led growth model driven by government expenditures. We show that a stable stationary state with zero growth, positive profits, and a positive interest rate is possible. However, the stable adjustment of government expenditure-capital and government debt-capital ratios to their long-run equilibrium values requires specific maxima for the propensity to consume out wealth and for the rate of interest, assuming a balanced government budget and zero retained earnings of the firm sector. |
| Keywords: | Ecological macroeconomics,post-Keynesian economics,stationary-state economics,growth imperative |
| JEL: | Q01 O44 P10 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:ipewps:1692021&r= |