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on Heterodox Microeconomics |
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Issue of 2022‒11‒21
28 papers chosen by Carlo D’Ippoliti Università degli Studi di Roma “La Sapienza” |
| By: | Henrekson, Magnus (Research Institute of Industrial Economics); Johansson, Dan (Örebro University); Karlsson, Johan (Jönköping University, Sogang University) |
| Abstract: | Based on a review of 700+ peer-reviewed articles since 1990, identified using text mining methodology and supervised machine learning, we analyze how neo-Schumpeterian growth theorists relate to the entrepreneur-centered view of Schumpeter (1934) and the entrepreneurless framework of Schumpeter (1942). The literature leans heavily towards Schumpeter (1942); innovation returns are modeled as following an ex ante known probability distribution. By assuming that innovation outcomes are (probabilistically) deterministic, the entrepreneur becomes redundant. Abstracting from genuine uncertainty, implies that central issues regarding the economic function of the entrepreneur are overlooked such as the roles of proprietary resources, skills, and profits. |
| Keywords: | creative destruction, economic growth, entrepreneur, innovation, judgment, Knightian uncertainty |
| JEL: | B40 O10 O30 |
| Date: | 2022–09 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp15605&r=hme |
| By: | Hein, Eckhard; Prante, Franz; Bramucci, Alessandro |
| Abstract: | In several publications, starting more than a decade ago, Peter Flaschel and co-authors have outlined the features of a 'social capitalism' as a normative alternative to the liberal and financialised capitalism of the Anglo-Saxon type, but also to the undemocratic Chinese-type of state capitalism. Theoretically and analytically, this concept has been built on a MarxKeynes/Kalecki-Schumpeter approach to macroeconomics. Our approach in this paper, based on post-Keynesian/Kaleckian foundations and making use of a two-country stock-flow consistent (SFC) simulation model, shares with Flaschel and co-authors the search for an alternative to the liberal finance-dominated capitalism which has dominated, to different degrees in different countries, since the late 1970s/early 1980s and led to the 2007-09 crises. On the one hand, our approach is narrower than the one by Flaschel and co-authors, since we are explicitly in our model only focusing on demand and growth regimes, as well as on macroeconomic policy regimes, but only implicitly on innovations and structural change. On the other hand, however, we shed light on different regimes in modern capitalism, their interaction at the global scale, and then on the changes in regimes after the 2007-09 crises. Finally, we present the main features of a progressive and more stable equality-, sustainability- and domestic demand-led regime. We believe that such a progressive regime is in the spirit of Flaschel and co-authors' concept of 'social capitalism', but we also point out some disagreements regarding the underlying model and the core policies. |
| Keywords: | post-Keynesian macroeconomics,financialisation,growth regimes,inequality,debt,social capitalism,stock-flow consistent model |
| JEL: | B59 E02 E11 E12 E25 E65 F41 O41 |
| Date: | 2022 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:ipewps:1922022&r=hme |
| By: | Francisco, Kris A.; Navarro, Adoracion M.; Debuque-Gonzales, Margarita |
| Abstract: | Despite the continuing threat of the COVID-19 virus mutating, the pandemic will eventually end given widespread vaccination and virus suppression policies. Policymakers need to think ahead, assess scenarios of possible futures, and start to reset and rebuild toward a better Philippines in the post-pandemic environment. Owing to the many societal issues that the pandemic exposed and exacerbated, thinkers were compelled to scrutinize the current flaws in the capitalist system and how these can be fixed to ensure a more sustainable existence. The Great Reset agenda by the World Economic Forum is one example. This agenda is contextualized in the Philippine situation through three major strategies, namely: making businesses more ethical through stakeholder capitalism; pursuing a green and inclusive recovery; and maintaining a robust and healthy workforce. Policy insights and recommendations for each strategy include the following: for ethical business, enjoin companies to adopt universally recognized environmental, social and governance metrics, strengthen the country’s competition framework, and create an equal environment for different businesses in similar industries; for green and inclusive recovery, make space for greening in the stimulus packages, create a pipeline of needed climate-smart infrastructure projects, identify and invest in green growth areas, support the calls for a green new deal in Southeast Asia, push Philippine concerns in the global debates on climate actions, and find alternatives in the face of carbon-related tradeoffs; and for a robust and healthy workforce, invest in reskilling and upskilling programs, revamp the social protection system, address the digital divide, and address the needs of the workers of the future. Comments to this paper are welcome within 60 days from the date of posting. Email publications@mail.pids.gov.ph. |
| Keywords: | COVID-19 pandemic; capitalism reset; stakeholder capitalism; green recovery; robust workforce |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:phd:dpaper:dp_2021-22&r=hme |
| By: | Guilhem Lecouteux (UCA - Université Côte d'Azur, GREDEG - Groupe de Recherche en Droit, Economie et Gestion - UNS - Université Nice Sophia Antipolis (1965 - 2019) - COMUE UCA - COMUE Université Côte d'Azur (2015-2019) - CNRS - Centre National de la Recherche Scientifique - UCA - Université Côte d'Azur, COMUE UCA - COMUE Université Côte d'Azur (2015-2019)) |
| Abstract: | A common narrative among some behavioural economists and policy makers is that experimental psychology highlights that individuals are more like Homer Simpson than the Mr Spock imagined by neoclassical economics, and that this justifies policies aiming to ‘correct' individual behaviours. This narrative is central to nudging policies and suggests that a better understanding of individual cognition will lead to better policy prescriptions. I argue that this Homer economicus narrative is methodologically flawed, and that its emphasis on cognition advances a distorted view of public policies consisting in fixing malfunctioning individuals, while ignoring the possibly malfunctioning environment within which they evolve. |
| Keywords: | homo economicus,rational choice,replication crisis,behaviourally informed policy |
| Date: | 2022–09–29 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:hal-03791951&r=hme |
| By: | Mohajan, Devajit; Mohajan, Haradhan |
| Abstract: | This article tries to explore the constructivist grounded theory (CGT) in qualitative research. American sociologist Kathy Charmaz has developed a new qualitative research field “Constructivist Grounded Theory” for the first time in 2006. Constructivist grounded theory is a qualitative research methodology that draws comparison between the ethical principles of deontology, utilitarian and virtue ethics, and individuals seek to understand the world in which they live and work. It is a popular method for research studies mainly in psychology, education, and nursing. In social sciences, it represents culture, context, literacy, personal experiences, as well as application of knowledge. It also presents the theoretical substructures of symbolic interactionism and constructivism. Constructivism is used for research, learning, and teaching with peers. There are various types of constructivism, such as social, psychological, personal, radical, and contextual constructivism. On the other hand, symbolic interactionism is the process of human interaction that provides the meanings for the experiences through language, symbols, and social interactions. This study tries to investigate how constructivist grounded theory has developed in times from the original grounded theory of Glaser and Strauss. The paper also tries to highlight characteristics, application, and importance of constructivist grounded theory. |
| Keywords: | Constructivist grounded theory, Charmaz, knowledge, social science |
| JEL: | A2 B54 D6 I25 |
| Date: | 2022–07–19 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:114970&r=hme |
| By: | Andreu Solé (HEC Paris - Ecole des Hautes Etudes Commerciales) |
| Abstract: | What is the singularity of our society and, consequently, how to name it? We first present a critique of three terms: liberalism, capitalism and "neo-liberalism" which are associated with this society by many researchers in the humanities and social sciences. We show that the classical, non-authoritarian liberalism of Adam Smith is a utopia. As for the word capitalism, it spreads a major confusion, that between market and company. Concerning the "neo-liberalism" of Hayek and Friedman, we argue that it is not liberalism. Then, we underline that our society is organized by and for companies, allowing us to formulate the proposal to call it "Enterprise-World". Finally, we highlight the tyranny - linked to the company - specific to this society, and invite us to wonder why most researchers in the humanities seem not to "see" it. |
| Abstract: | Quelle est la singularité de notre société et, en conséquence, comment la nommer ? Nous exposons d'abord une critique de trois termes : « libéralisme », « capitalisme » et « néolibéralisme » qui sont associés à cette société par beaucoup de chercheurs en sciences humaines. Nous démontrons que le libéralisme classique, non autoritaire, d'Adam Smith est une utopie. Quant au mot capitalisme, il diffuse une confusion majeure, celle entre marché et entreprise. S'agissant du « néolibéralisme » de Hayek et Friedman, nous faisons ressortir qu'il n'est pas du libéralisme. Ensuite, nous soulignons que notre société est organisée par et pour les entreprises, nous permettant de formuler la proposition de l'appeler « Entreprise-Monde ». Enfin, nous mettons en lumière la tyrannie-liée à l'entreprise-, spécifique de cette société, et invitons à se demander pourquoi la plupart des chercheurs en sciences humaines semblent ne pas la « voir ». |
| Keywords: | Liberalism,Neoliberalism,Capitalism,Company,Tyranny,Tyrannie,Libéralisme,Néolibéralisme,Capitalisme,Entreprise |
| Date: | 2022–07–20 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-03736172&r=hme |
| By: | Guilhem Lecouteux (UCA - Université Côte d'Azur, GREDEG - Groupe de Recherche en Droit, Economie et Gestion - UNS - Université Nice Sophia Antipolis (1965 - 2019) - COMUE UCA - COMUE Université Côte d'Azur (2015-2019) - CNRS - Centre National de la Recherche Scientifique - UCA - Université Côte d'Azur); Ivan Mitrouchev (IESEG School of Management Lille) |
| Abstract: | We propose a precise definition of the notion of ‘context' in behavioural economics, and identify four axioms characterising the strategies implemented in standard and behavioural welfare economics to define welfare: (1) normative individualism, (2) behavioural context-independence, (3) normative contextindependence, and (4) consumer sovereignty. We then review the different approaches in behavioural normative economics in the light of those axioms. We highlight that the key distinction between those approaches is the axiom which is chosen as a way to infer normative preferences from behavioural preferences, with either normative context-independence or consumer sovereignty. We argue that preference purification requires the axiom of normative context-independence, whose justification is however limited when individual behaviour is contextdependent. This suggests that it might be impossible to offer a general strategy to infer true/normative preferences from possibly incoherent behavioural preferences. |
| Date: | 2022–09–29 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:hal-03791972&r=hme |
| By: | Yuventus Effendi (Indonesian Ministry of Finance, Republic of Indonesia, Jakarta, Indonesia); Budy Resosudarmo (Indonesia Project, Arndt-Corden Department of Economics, Crawford School of Public Policy, Australian National University, Canberra, Australia) |
| Abstract: | This paper describes the construction of the East Asia inter-regional social accounting matrix (EA-IRSAM). The first section describes the basics of the social accounting matrix. The next section presents procedures to construct EA-IRSAM based on the Global Trade Analysis Project (GTAP) Power version 9 database. The last section describes two extensions of IRSAM analyses used in this paper, namely inter-regional constrained fixed price multiplier (IR-CFPM) and microsimulation of household income. |
| Keywords: | Climate change, social accounting matrix, East Asian economy |
| JEL: | O21 |
| Date: | 2022–10 |
| URL: | http://d.repec.org/n?u=RePEc:unp:wpaper:202202&r=hme |
| By: | Akcay, Ümit; Jungmann, Benjamin |
| Abstract: | In this paper, we aim to contribute to the recently growing body of political economy literature on growth regimes. Theoretically, we apply the demand and growth regime approach developed within post-Keynesian macroeconomics. This is complemented by a critical comparative political economy perspective to analyse the socio-political underpinnings of a demand and growth regime by using the concept of dominant social blocs and their growth strategies. We posit that the concept of growth strategy is useful to uncover the intention of a dominant social bloc to consolidate or change the current demand and growth regime. Using this framework, we examine the demand and growth regimes of Poland and Turkey from 1999 to 2020. We identify a domestic demand-led regime in Poland between 1999 and 2008, which transitioned to a weakly export-led regime between 2009 and 2020. In Turkey, we identify a domestic demand-led regime before the Global Financial Crisis (GFC) that became a private debt-led regime until the taper tantrum in 2013. Since then, a development towards a more export-led regime is observable, albeit at lower and unstable growth levels. We argue that in both countries the trend toward a more export-led regime after the GFC is associated to changes in the dominant social blocs. Both of the new dominant social blocs that established themselves during the 2010s - represented by the PiS-party in Poland and the AKP in Turkey - pursue a growth strategy toward "national capitalism". Politically, these strategies have come with a democratic backlash. Economically, they aim to gain more control over key sectors such as banking and finance while developing a more competitive export sector through domestic re-industrialisation initiatives. |
| Keywords: | Post-Keynesian macroeconomics,comparative political economy,growth regimes,growth strategies,Poland,Turkey |
| JEL: | B52 E65 E66 F43 O43 P16 P52 |
| Date: | 2022 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:ipewps:1902022&r=hme |
| By: | Migheli, Matteo; D’ambrosio, Anna (University of Turin) |
| Abstract: | Regional resilience has been widely studied in economics and economic geography. The extant literature proposes different measures and definitions, without achieving a unitary view of the concept. In this paper, an interpretation of regional resilience thorough Sen’s capability approach is proposed. In particular, resilience emerges as a collective capability, and “being resilient” as a collective functioning. Individual characteristics of the agents operating in a region and the interaction between them lead to this interpretation. The definitions and measures adopted by the extant literature appear to be parts of a whole, which is difficult to capture in a single analysis. |
| Date: | 2022–09 |
| URL: | http://d.repec.org/n?u=RePEc:uto:dipeco:202209&r=hme |
| By: | Tibor Kiss (UNIVERSITY OF PÉCS-FACULTY OF BUSINESS AND ECONOMICS); Tamás Sebestyén (UNIVERSITY OF PÉCS-FACULTY OF BUSINESS AND ECONOMICS); Erik Braun (UNIVERSITY OF PÉCS-FACULTY OF BUSINESS AND ECONOMICS) |
| Abstract: | The discussion about the role and effects of international trade has begun to inten- sify recently. On the one hand, we know that specialization and participation in the international division of labor results in more efficient production structures that bring welfare gains. On the other hand, the resulting strong interconnectedness of countries allows for rapid spread of shocks and a more volatile and vulnerable system. Overall, neither full self-sufficiency nor an extremely globalized produc- tion structure seems to be sustainable nowadays. However, the responsiveness of countries to shocks might depend on the resilience of the countries. A system’s (economy’s) level of resilience derives from two structural properties: redundancy and efficiency. An efficient system has only a few mutual relationships, which indicates strong specialized trade flows and corresponds to highly globalized pro- duction processes of a country. In contrast, a redundant system has many more similarly weak connections signaling a less specialized and embedded position of elements within the system, corresponding to a lower level of involvement within the international division of labor. While it is clear that extreme efficiency and ex- treme redundancy are not optimal arrangements, finding the optimal combination in between is challenging. Putting this framework of system resilience into interna- tional trade and production networks, may indicate the optimal trade-off between self-sufficiency (more redundant systems) and specialization within international trade (more efficient systems). In this paper we use methods from Ecological Net- work Analysis (ENA) to capture the countries’ structural resilience building on sector level input-output data. The cross-country analysis shows that countries are heterogeneous in terms of resilience, and the structure of the countries has become more effective and globalized between 2000 and 2014. Using econometrics tools, we find a strong and significant association between redundancy/efficiency and the level of international trade, confirming the use of the complex system perspective in international trade. Finally, we also examine the countries’ level of self-organization and the window of vitality in terms of resilience. |
| Keywords: | resilience, economicstructure, input-outputeconomies, globalization, deglobalization. |
| Date: | 2021–12 |
| URL: | http://d.repec.org/n?u=RePEc:pec:wpaper:2021_4&r=hme |
| By: | Alfano, Lucia |
| Abstract: | The climate crisis is inevitably looming over the horizon. Some countries are much more vulnerable than others to its harshest consequences due to their existing issues of poverty and underdevelopment. At the same time, developmental policies pursue economic growth at the cost of environmental degradation and overexploitation. This contribution focuses on the actor that is called to find a balance between the necessity to address climate change and to reach economic prosperity, namely the state, in the specific configuration of the New Developmental State. The paper explores its role and capacity to set in motion a fundamental socio-ecological transformation with the goal of harmonising the conflicting spheres of sustainable development. From a theoretical point of view, the examination is conclusive in demonstrating that the new developmental state possesses the characteristic to be a driver of socio-ecological change. In practice, the trade-off between developmental and socioecological priorities is yet to be resolved. |
| Keywords: | Sustainable Development,New Developmental State,Socio-ecological transformation,Argentina,Brazil |
| JEL: | F63 F64 O11 O13 Q01 Q54 Q56 |
| Date: | 2022 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:ipewps:1892022&r=hme |
| By: | Jérôme Garnier-Brun; J.-P. Bouchaud; Michael Benzaquen (LadHyX - Laboratoire d'hydrodynamique - X - École polytechnique - CNRS - Centre National de la Recherche Scientifique) |
| Abstract: | The Slutsky equation, central in consumer choice theory, is derived from the usual hypotheses underlying most standard models in Economics, such as full rationality, homogeneity, and absence of interactions. We present a statistical physics framework that allows us to relax such assumptions. We first derive a general fluctuation-response formula that relates the Slutsky matrix to spontaneous fluctuations of consumption rather than to response to changing prices and budget. We then show that, within our hypotheses, the symmetry of the Slutsky matrix remains valid even when agents are only boundedly rational but non-interacting. We then propose a model where agents are influenced by the choice of others, leading to a phase transition beyond which consumption is dominated by herding (or "fashion") effects. In this case, the individual Slutsky matrix is no longer symmetric, even for fully rational agents. The vicinity of the transition features a peak in asymmetry. |
| Date: | 2022–10–04 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:hal-03797176&r=hme |
| By: | Isabela dos Santos Paes (Luna Lunera (.), 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 - IMT - Institut Mines-Télécom [Paris]); Géraldine Guérillot (MARSOUIN - Môle Armoricain de Recherche sur la SOciété de l'information et des usages d'INternet - UR1 - Université de Rennes 1 - UNIV-RENNES - Université de Rennes - UBS - Université de Bretagne Sud - ENSAI - Ecole Nationale de la Statistique et de l'Analyse de l'Information [Bruz] - UBO - Université de Brest - IMT - Institut Mines-Télécom [Paris] - UR2 - Université de Rennes 2 - UNIV-RENNES - Université de Rennes - UBL - Université Bretagne Loire - IMT Atlantique - IMT Atlantique - IMT - Institut Mines-Télécom [Paris], ANR - Agence Nationale de la Recherche); Ousmane Sané (UFMG - Universidade Federal de Minas Gerais = Federal University of Minas Gerais [Belo Horizonte, Brazil]); Jean-Luc Moriceau (DEFI - Département Droit, Economie et Finances - TEM - Télécom Ecole de Management - IMT - Institut Mines-Télécom [Paris] - IMT-BS - Institut Mines-Télécom Business School - IMT - Institut Mines-Télécom [Paris], 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 - IMT - Institut Mines-Télécom [Paris]) |
| Abstract: | In North-South relations, CSR forms a narrative that imposes a framing from which it is difficult to escape. Certain concepts of post- and decolonial critic, by interrogating the background, language, legitimate speakers and the crowding out of other narratives, led us to ask whether CSR should not then be seen as a neo-colonial narrative. This critic led us to re-analyse an award-winning case of CSR by a French multinational for Senegal. What the investigation highlighted, in the light of concepts from post and decolonial critique, is that, paradoxically, the CSR narrative precludes a certain form of social and environmental responsibility. The article calls for the deconstruction, creolisation and decolonisation of CSR, in order to make room for other, plural narratives, carried by other voices, in order to rethink an idea of responsibility in North-South relations. |
| Abstract: | Dans les relations Nord-Sud, la responsabilité sociale des entreprises (RSE) forme un récit qui impose un cadrage dont il est difficile de s'extraire. Certains concepts de la critique post-et décoloniale, en interrogeant l'arrière-plan, la langue, les locuteurs légitimes et l'évincement des autres récits, nous ont amené à nous demander si la RSE ne devait pas alors être vue comme un récit néocolonial. Cette critique a conduit à ré-analyser un cas primé de RSE d'une multinationale française pour le Sénégal. Cette reprise de l'enquête, au prisme de concepts de la critique post et décoloniale, montre que paradoxalement le récit RSE empêche une certaine forme de responsabilité sociale et environnementale. L'article appelle à déconstruire, créoliser et décoloniser la RSE, pour laisser la place à d'autres récits, pluriels, portés par d'autres voix afin de repenser une idée de responsabilité dans les relations Nord-Sud. |
| Keywords: | Responsible digital,Postcolonialism,Decolonial critique,Narrative,RSE,Numérique responsable,Postcolonialisme,Critique décoloniale,Récit CSR |
| Date: | 2022 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:halshs-03808891&r=hme |
| By: | Coralie Perez (CES - Centre d'économie de la Sorbonne - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique); Camille Signoretto (LADYSS - Laboratoire Dynamiques Sociales et Recomposition des Espaces - UP1 - Université Paris 1 Panthéon-Sorbonne - UP8 - Université Paris 8 Vincennes-Saint-Denis - UPN - Université Paris Nanterre - CNRS - Centre National de la Recherche Scientifique - UPCité - Université Paris Cité) |
| Abstract: | Taking note of the polysemic and controversial nature of the concept "social dialogue", this issue revisits what it covers in practices, according to the contexts (institutional, territorial, economic...) in which it is implemented. This update seems all the more necessary as the institutional and economic environment has changed significantly over the last decade. The articles that constitute this issue have in common that they deal with "social dialogue" mainly in the context of the firm, by questioning the capacities and modalities of action of employee representatives at this level. In doing so, they all show the relevance and the necessity of understanding industrial relations - in the diversity of practices - "in context", i.e. in relation to socio-productive configurations, modes of governance and sectoral specificities. |
| Abstract: | Prenant acte du caractère polysémique et polémique de l'expression « dialogue social », ce numéro revient sur ce qu'il recouvre en pratiques selon les contextes (institutionnels, territoriaux, économiques…) dans lesquels il se déploie. Cette actualisation semble d'autant plus nécessaire que l'environnement institutionnel et économique a fortement évolué au cours de la dernière décennie. Les articles qui composent ce numéro ont en commun de saisir le « dialogue social » principalement dans le contexte de l'entreprise, en interrogeant les capacités et modalités d'action des représentants du personnel à ce niveau. Ce faisant, ils montrent la pertinence et donc la nécessité à saisir les relations professionnelles – dans la diversité des pratiques – « en contextes », c'est-à-dire en lien avec les configurations socio-productives, les modes de gouvernance et les spécificités sectorielles. |
| Keywords: | social dialogue,industrial relations,trade unions,employee representatives,collective bargaining,dialogue social,relations professionnelles,syndicats,représentant du personnel,négociations collectives |
| Date: | 2022–10–26 |
| URL: | http://d.repec.org/n?u=RePEc:hal:cesptp:hal-03830734&r=hme |
| By: | Sophie Martin (AD2M - Adaptation et diversité en milieu marin - SBR - Station biologique de Roscoff [Roscoff] - UPMC - Université Pierre et Marie Curie - Paris 6 - CNRS - Centre National de la Recherche Scientifique - UPMC - Université Pierre et Marie Curie - Paris 6 - CNRS - Centre National de la Recherche Scientifique, INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement, UR LISC - Laboratoire d'ingénierie pour les systèmes complexes - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement); Katrin Erdlenbruch (CEE-M - Centre d'Economie de l'Environnement - Montpellier - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement - Institut Agro Montpellier - Institut Agro - Institut national d'enseignement supérieur pour l'agriculture, l'alimentation et l'environnement - UM - Université de Montpellier); Isabelle Alvarez (AD2M - Adaptation et diversité en milieu marin - SBR - Station biologique de Roscoff [Roscoff] - UPMC - Université Pierre et Marie Curie - Paris 6 - CNRS - Centre National de la Recherche Scientifique - UPMC - Université Pierre et Marie Curie - Paris 6 - CNRS - Centre National de la Recherche Scientifique, INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement, UR LISC - Laboratoire d'ingénierie pour les systèmes complexes - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement); Sylvie Huet (AD2M - Adaptation et diversité en milieu marin - SBR - Station biologique de Roscoff [Roscoff] - UPMC - Université Pierre et Marie Curie - Paris 6 - CNRS - Centre National de la Recherche Scientifique - UPMC - Université Pierre et Marie Curie - Paris 6 - CNRS - Centre National de la Recherche Scientifique, INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement, UR LISC - Laboratoire d'ingénierie pour les systèmes complexes - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement); Charline Smadi (INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement, UR LESSEM - Laboratoire des EcoSystèmes et des Sociétés en Montagne - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement) |
| Abstract: | Dynamic models can help adapt to climate change since they inform on the impacts of decisions and future events on sustainability. They make it possible to follow the evolution of variables over time, to model exogenous events and adaptive policies and to compute sustainability indicators. Various model types based on dierent worldviews exist, and they give rise to dierent indicators. Modellers generally choose only one type of model, limiting the variety of indicators. However, decision-makers, who have to be creative to face global change, need a wider diversity of indicators. The objective of this paper is to show the diversity of insights one can get by using alternative system indicators and their decision implications. We test our very diverse indicators approach and illustrate its results for a population at risk of ooding and a water-basin manager who can help the population implement protection measures. We test many variations, including e.g. viability theory and agent-based modelling, and dierent indicators of viability, resilience, eciency and equity, based on comparable data sets. We show possible synergies of the obtained diversity of insights: for example, one indicator says that it is urgent to act and another which is the best policy to use. We discuss the diculties of implementation and the benets of our approach for the decision-maker. |
| Keywords: | Uncertainty,decision-making,optimization,viability,indicators,floods |
| Date: | 2022 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-03807806&r=hme |
| By: | Paulo L. dos Santos (Department of Economics, New School for Social Research) |
| Abstract: | A new informational index of income inequality is proposed. Based on a combinatorial characterisation of entropy and on its generalisation by multivariate measures of co-information, the index addresses a limiting analytical choice embedded in Theil's two indices of income inequality. This yields a positive measure of inequality of opportunity in income-generating processes, defined in relation to probabilities that the population-wide distribution of income describes the set of possible income levels facing specified sub-groups of that population. Its measure across a population is given when sub-groups consist of each individual. This can be successively decomposed linearly by sub-groups defined by covariates of income. In those instances, the index also provides informational measures of phenomenological association and interaction between income and those covariates. On those bases the index improves on mean-log deviations as measures of "luck egalitarian" notions of equity; casts new light on and uncovers new properties in the Theil-Finezza index of segregation; offers a non-parametric generalisation of the Kitagawa-Oaxaca-Blinder decomposition; and lays new conceptual foundations for work on the determinants and normative content of patterns of income di erentiation in decentralised market economies. |
| Keywords: | Inequality indices, income distribution, information theory |
| JEL: | C18 D31 D63 |
| Date: | 2022–11 |
| URL: | http://d.repec.org/n?u=RePEc:new:wpaper:2211&r=hme |
| By: | de Moura, Fernanda Senra; Barbrook-Johnson, Peter |
| Abstract: | This article introduces and demonstrates a data-driven systems mapping approach designed to contextualise, communicate, and embed the insights of complexity economics in real world policy questions. This approach allows us to: build networks representing empirical regularities between a broad range of factors, analyse these networks in policy-relevant ways, and embed complexity economics insight in them. In using this approach to connect complexity economics with policy questions and a more rounded view of policy landscapes, we hope to help address a range of calls in recent literature for more usable, interpretable, and inclusive complexity economics outputs. We demonstrate the approach with the policy topic of the energy transition and its relationship with the Sustainable Development Goals (SDGs). We consider how the approach can be tuned to different purposes and contexts and explore two applied questions emerging from existing modelling results and policy topics: (i) the impact of the energy transition on SDGs and the role of biofuels, and (ii) the nature of climate impacts on the economy. |
| Date: | 2022–10 |
| URL: | http://d.repec.org/n?u=RePEc:amz:wpaper:2022-27&r=hme |
| By: | Kenichi Tomobe (Graduate School of Economics, Hitotsubashi University); Minori Oshidari (Bank of Yokohama); Keisuke Moriya (Graduate School of Economics, Hitotsubashi University) |
| Abstract: | This study aims at investigating a method to measure the standard of living, nutritional status, and physical condition of the saimin ("the poor") who suddenly appeared in the modern age and settled there despite their poverty. In the study of social science, the mainstream theories of poverty are Charles James Booth's stratification theory based on income level and Benjamin Seebohm Rowntree's minimum cost of living theory based on the cost of living; both have their merits and demerits. This paper will measure the poverty levels in terms of income and cost of living using data from a specified sub-district located in Tokyo (the results of an on-site survey of approximately 180 households). Many households living in the Saimin-chiku faced poverty both income levels and cost of living. In addition, observation of the health status of the saimin households showed that roughly half of the community had a disease of some sort, or a tuberculosis patient in the household. This provides a perspective which illuminates the difference in situation between the saimin households, who made a living based on an economy of mutual support, and the small farmer households, who had a communal consumption lifestyle but had the capacity to be self-supporting. |
| Keywords: | household, poverty, health, living standard, nutrition intake |
| JEL: | I14 N00 R00 |
| Date: | 2022–11 |
| URL: | http://d.repec.org/n?u=RePEc:osk:wpaper:2206&r=hme |
| By: | Ly Dai Hung (Vietnam Institute of Economics, Hanoi, Vietnam) |
| Abstract: | The paper analyses the sustainable development and its key features in economic ideology in Germany. Currently, the Germany economy attains the week sustainability and in process to strong sustainability. The development of this country can be described as "Uniform Sustainability" as the sustainability is uniformly distributed over territory space. This pathway is based on some key economic ideology in sustainable development, including the balance of economic-social-environmental aspect; bottom-up fund raising, quite independent from State budget; and localization of sustainability objectives. |
| Keywords: | Economic Ideology,Sustainable Development,Germany |
| Date: | 2022–09–10 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:hal-03809878&r=hme |
| By: | Codrina Rada; Daniele Tavani; Rudiger von Arnim; Luca Zamparelli |
| Abstract: | This paper studies two formal models of long run growth with a medium-run distributive cycle, both of which feature causal links from the rise in inequality to a deterioration of long run macroeconomic performance. Both versions feature an endogenous income-capital ratio: one through the Keynesian notion of effective demand, the other building on induced bias in technical change. A key focus of the analysis is on the assumptions necessary in both frameworks to generate policy implications consistent with the observed decline of the labor share, the income-capital ratio, and labor productivity growth during the neoliberal era. Importantly, both theories: (a) provide space for mutually reinforcing pro-labor and pro-growth policies in the long run, although they differ in the mechanisms at play in these processes; (b) imply a potential tradeoff between pro-labor policies and growth on one hand, and long-run employment on the other; (c) are consistent with the evidence on the distributive cycle at business cycle frequency. |
| Keywords: | Distributive cycle, induced technical change, labor share, stagnation |
| JEL: | E11 E12 E25 E32 O33 O41 |
| Date: | 2022–11 |
| URL: | http://d.repec.org/n?u=RePEc:pke:wpaper:pkwp2225&r=hme |
| By: | Jardine A Husman (Bank Indonesia); Ali Sakti (Bank Indonesia) |
| Abstract: | Agriculture has not yet impressed the formal financial institutions as the focal distribution of funds. In the meantime, agriculture has survived the pandemic and has become one of the sectors contributing to positive national economic growth. Unlike its conventional counterparty, who merely acts as a lender or creditor, the Islamic financial institutions presumably grab the opportunity to be farmers' partners, beyond being simply the creditor, due to regulation advantage. Therefore, this research attempts to propose practical models of Islamic modes of financing for the agricultural sector. We conduct qualitative and quantitative approaches from both supply and demand sides. We gathered data from the literature, focus group discussions, questionnaires through surveys and in-depth interviews. A total of 51 works of literature, ten experts from the supply side, seven experts from the demand side, 463 microscale farmer respondents, and six experts for in-depth judgment have been studied, interviewed, and surveyed for being analyzed using content analysis, cross-tabulation, and regression per agricultural subsector of food crops, horticulture, plantation (estate crops), fisheries, livestock, and forestry. The result emphasizes that the off-takers take a strategic role as the market guarantor. Each sector is proven to have a significantly different nature of Islamic institution selection, including social and commercial institutions, the nature of Islamic financing modes, and the financial need-stage in production. Salam, or forward transaction, is expected to prom Islamic financial institutions distributing their funds to farmers. We recommend further supportive regulation to attract the financial institution. |
| Keywords: | agriculture, Islamic financing, off-taker, salam, supply-demand side |
| JEL: | D64 G21 G23 O13 Q14 |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:idn:wpaper:wp112021&r=hme |
| By: | Andrea Coletta; Aymeric Moulin; Svitlana Vyetrenko; Tucker Balch |
| Abstract: | Multi-agent market simulators usually require careful calibration to emulate real markets, which includes the number and the type of agents. Poorly calibrated simulators can lead to misleading conclusions, potentially causing severe loss when employed by investment banks, hedge funds, and traders to study and evaluate trading strategies. In this paper, we propose a world model simulator that accurately emulates a limit order book market -- it requires no agent calibration but rather learns the simulated market behavior directly from historical data. Traditional approaches fail short to learn and calibrate trader population, as historical labeled data with details on each individual trader strategy is not publicly available. Our approach proposes to learn a unique "world" agent from historical data. It is intended to emulate the overall trader population, without the need of making assumptions about individual market agent strategies. We implement our world agent simulator models as a Conditional Generative Adversarial Network (CGAN), as well as a mixture of parametric distributions, and we compare our models against previous work. Qualitatively and quantitatively, we show that the proposed approaches consistently outperform previous work, providing more realism and responsiveness. |
| Date: | 2022–09 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2210.09897&r=hme |
| By: | Forslund, Eva (Research Institute of Industrial Economics (IFN)); Henrekson, Magnus (Research Institute of Industrial Economics (IFN)) |
| Abstract: | An increasing number of researchers, whether in Sweden, Slovakia, Italy, Japan, Brazil, or many other places, are using English in their discourse, written or oral, despite working in a place where the native language is not English. To convey insights and research results to the general public or to domestic policymakers, one must write in the native language. Language affects the way students learn and the content of teaching. Working in a second language can adversely affect learning unless teachers compensate for certain effects. When English is the working language, there is a risk that the study of relevant national, regional, and local institutions and conditions will be downplayed, which may impair students’ understanding of the workings of the country where most of them will pursue their future careers. Also, there is a risk that important domestic aspects will be overlooked as researchers seek to treat topics sufficiently general to appeal to ‘international journals,’ which use English. The authors are Swedes and economists, and here often use illustrations from economics in Sweden, but the issue arises widely and increasingly in many areas of learning and throughout the world. |
| Keywords: | Economic policy; Economics teaching; Economics writing; Institutions; Language of instruction |
| JEL: | A10 A20 B40 |
| Date: | 2022–10–01 |
| URL: | http://d.repec.org/n?u=RePEc:hhs:iuiwop:1442&r=hme |
| By: | Jeová Torres Silva Júnior (UFCA - Federal University of Cariri); Jailson Santana Carneiro (UFRPE - Universidade Federal Rural do Pernambuco); Patrick Wendell Barbosa Lessa (Universidade Federal do Cariri (UFCA)); Carlos Leandro Soares Vieira (Universidade Federal do Cariri (UFCA)) |
| Abstract: | Purpose The challenges of the growth of the sharing economy are becoming more and more noticeable and urgent, especially concerning labor relations (e.g. uberization). The purpose of this paper is to understand what app-based drivers think of working conditions and labor relations. Design/methodology/approach The research was carried out in three stages: bibliographical and documental research, and two empirical research, a quantitative one with the application of a questionnaire in a sample of 54 respondents and another qualitative one using an interview script with ten drivers. For data analysis, the abductive method and the content analysis technique were used. Findings The results reveal they have an exhausting labor routine, by checking that they work more hours per week than those who have a formal job. They are driven mainly by the extra income and flexibility that digital platforms of the sector of shared private transportation can offer, although the costs intrinsic to the activity often affect their revenues significantly. Research limitations/implications The number of answers from women was very small, which hinders the analysis of the potential specificities of women app-based drivers. Future studies could focus on this public for a more precise analysis, to bring the discussion on gender to the working context of app-based drivers. Practical implications The authors' intention with the research reports was to make them relevant, leading to effective policies concerning working conditions and labor relations in the sharing economy, and to stimulate other surveys to understand the activity of an app-based driver of shared private transportation. Originality/value The authors' research and this article contribute to the discussion on new work relationships, motivations and (dis)satisfaction with the activity, from the perspective of app-based drivers. |
| Keywords: | Uberization,Flexibilization of work,Precarization of work,App-based drivers,Platform workers,Sharing economy |
| Date: | 2022–04–12 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-03795078&r=hme |
| By: | Orbeta, Aniceto Jr. C.; Llanto, Gilberto M.; Abrigo, Michael Ralph M.; Ortiz, Danica Aisa P. |
| Abstract: | Climate change causes a vast magnitude of impacts that cut across boundaries and spill over time. It results in various, interrelated effects on important aspects of society. Direct and indirect effects of climate change touch on, for instance, health (e.g., Watts et al. 2015) and on labor (e.g., Kjellstrom et al. 2009; International Labor Organization 2018). Unfortunately, developing countries, which are the least contributors to climate change, are more exposed to environmental risks. According to the Global Climate Risk Index 2017, the Philippines, is in the top ten countries greatly affected by extreme weather events over the last two decades. In response to these challenges and risks, the country has been actively participating in international efforts to address this global concern. Locally, various policies have been enacted to create a progressive landscape for environmental protection, and disaster risk mitigation and response. Adding to these mitigation responses is the Green Jobs Act of 2016, which aims to encourage the creation and nurturing of green jobs along with the country’s transition towards a more environmentally sustainable economy. This study supports the implementation of this policy by providing new employment demand projections in the green and conventional sectors of the economy. Specifically, the Green Philippine Employment Projections Model (Green PEPM) generates forecasts on employment demand in green industries, using various scenarios based on national development and environmental targets. The model provides a sectoral-level analysis of the potential economic and employment gains and losses coming from the growth of the green and conventional sectors. The results of the model are expected to feed into the development of the country’s Human Resource Development (HRD) Plan, which is an important feature of the 2016 Green Jobs Act. Projection results show that greening the economy creates benefits. More jobs can be created, and other existing jobs can be transformed as industries shift to environmentally friendly and sustainable technologies and products. However, depending on the country’s development targets, greening may also lead to employment contraction in certain industries. Thus, to what extent the country should go green remains an open question, which the government can explore to come up with appropriate responses. Aside from employment projections, this study provides some policy options that may address some of these threats in the labor market, and those which may support the promotion of green jobs in the country. Comments to this paper are welcome within 60 days from the date of posting. Email publications@pids.gov.ph |
| Keywords: | environment; climate change; labor market;green jobs; disaster risk mitigation |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:phd:dpaper:dp_2021-26&r=hme |
| By: | Silas Xuereb (PSE - Paris School of Economics - UP1 - Université Paris 1 Panthéon-Sorbonne - ENS-PSL - 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, WIL - World Inequality Lab) |
| Abstract: | Neoclassical economics' explanations of the income distribution typically ignore the role of various forms of power. This paper explores the relationships between worker power, market power, rentseeking and the income distribution using a novel panel dataset on sector-level income distributions in Canada from 2000-2019. Levels of within-sector inequality were relatively stable throughout this time period but there is significant between-sector variation. Finance and insurance contributes disproportionately to top-end income inequality. Workers' bargaining power explains a significant portion of between-sector variation in inequality. Increases in market power and decreases in unionization are related to increases in sector-level income inequality. Increases in real average incomes at the sector level are associated with increases in top shares three years later and this effect is mitigated by high unionization. Results are discussed within the broader context of Canadian income inequality and the relationship between power and wage-setting. |
| Date: | 2022–09 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wilwps:halshs-03828910&r=hme |
| By: | Clary Rodriguez-Cruz; Mehdi Molaei; Amruthesh Thirumalaiswamy; Klebert Feitosa; Vinothan N. Manoharan; Shankar Sivarajan; Daniel H. Reich; Robert A. Riggleman; John C. Crocker |
| Abstract: | Many soft and biological materials display so-called 'soft glassy' dynamics; their constituents undergo anomalous random motion and intermittent cooperative rearrangements. Stock prices show qualitatively similar dynamics, whose origins also remain poorly understood. Recent simulations of a foam have revealed that such motion is due to the system evolving in a high-dimensional configuration space via energy minimization on a slowly changing, fractal energy landscape. Here we show that the salient geometrical features of such energy landscapes can be explored and quantified not only in simulation but empirically using real-world, high-dimensional data. In a mayonnaise-like dense emulsion, the experimentally observed motion of oil droplets shows that the fractal geometry of the configuration space paths and energy landscape gives rise to the anomalous random motion and cooperative rearrangements, confirming corresponding simulations in detail. Our empirical approach allows the same analyses to be applied to the component stock prices of the Standard and Poor's 500 Index. This analysis yields remarkably similar results, revealing that stock return dynamics also appear due to prices moving on a similar, slowly evolving, high-dimensional fractal landscape. |
| Date: | 2022–10 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2210.13667&r=hme |