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on Heterodox Microeconomics |
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Issue of 2023‒05‒01
thirteen papers chosen by Carlo D’Ippoliti Università degli Studi di Roma “La Sapienza” |
| By: | Khan, Haider |
| Abstract: | I define ecological imperialism under global capitalism rigorously by following a circuit of capital approach grounded in a dialectical scientific realist epistemology and ontology. I show that a theory of imperialism and ecological imperialism can be constructed by extending the classical circuits of capital to conceptualize a set of international circuits of capital. The dynamic theory thus constructed can analyze a diverse set of social, economic and political phenomena such as the global race for resources, new social and political movements and regional and global instabilities and conflicts. The extension of this theory of ecological imperialism to encompass world systems theory gives the ontological grounds for privileging concrete studies of situations in core-periphery-semi-periphery of the world system in a coherent and consistent manner. |
| Keywords: | ecological imperialism, world systems theory, circuits of capital, international circuits of capital, monopoly capital, categorial dialectics, resistance |
| JEL: | B5 G0 Q57 |
| Date: | 2023–03–01 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:116844&r=hme |
| By: | Willi Semmler (Department of Economics, New School for Social Research, USA and Bielefeld University, Germany); Fabio Della Rossa (Department of Electronics, Information, and Bioengineering, Polytechnic of Milan, Milan, Italy); Giuseppe Orlando (Department of Mathematics, University of Bari, Italy and HSE University, Saint Petersburg, Russia); Gabriel R. Padro Rosario (Department of Economics, New School for Social Research, USA); Levent Kockesen (Department of Economics, Ko¸c University, Istanbul, Turkey and Nazarbayev University, Astana, Kazakhstan) |
| Abstract: | We evaluate Brunnermeir’s Theory of Resilience in the context of complex system dynamics where there, however, can be local and global resilience, vulnerability, loss of resilience, cycles, disruptive contractions, and persistent traps. In the paper, we refer to three-time scales. First, for shorter time scales, for the short-run market dynamics, we evaluate resilience in the context of complex market dynamics that have been studied in the history of economic theory for long. Second, with respect to a business cycle medium-term dynamics, we analytically study an endogenous cycle model, built upon Semmler and Sieveking (1993) and Semmler and Kockesen (2017), and discuss the issue of loss of stability, corridor stability, multiple attractors, and trapping dynamics also in the light of complex dynamics. In a financial-real business cycle model, we demonstrate forces that indeed can exhibit multiple dynamic features such as local resilience, known as corridor-stability, but also other dynamic phenomena. Corridor stability pertains to small shocks with no lasting effects, but large enough shocks can lead to persistent cycles and/or contractions. We refer to the Hopf-and-Bautin-Bifurcation theorems, to establish corridor stability, and local resilience, for the interaction of real and financial variables where the trajectories can be stable or unstable in the vicinity of the equilibrium. Thus they can switch dynamic behaviour for small or large shocks. Similar complex dynamic phenomena can be obtained from Kaleckian-Kaldorian nonlinear real business cycle models, in particular when time delays are allowed for. Third, whereas the analytical study of the dynamics is undertaken for the above second-time scale, for the longer time scale we study, in the context of multiple equilibria models, the issue of thresholds, tipping points and disruptive contractions, and persistence of traps. |
| Keywords: | Resilience, complex dynamic models, regime change model, limit cycles, disruptive contractions |
| JEL: | C32 E32 E44 |
| Date: | 2023–04 |
| URL: | http://d.repec.org/n?u=RePEc:new:wpaper:2305&r=hme |
| By: | Alberto Baccini; Cristina Re |
| Abstract: | Members of editorial boards play the role of gatekeepers of science because. This paper analyses the national distribution of editorial boards members of economics journal, their affiliation, and their gender. It studies also the interlocking editorship network generated by the presence of a same person on the editorial board of more than one journal. The analysis is based on a unique database comprising all the 1, 516 journals indexed in the database EconLit with an active editorial board in 2019. For each journal, we manually collected the names of the board members along with their affiliation, obtaining a database containing more than 44, 000 members from more than 6, 000 institutions and 142 countries. These data allow to investigate the phenomenon of gatekeeping in contemporary economics on an unprecedented large scale. The obtained results highlight some common issues concerning the editorial gatekeeping, leading to the conclusion that in Economics the academic publishing environment is governed by an \'elite composed mainly of men affiliated with United States \'elite universities. Homophily in terms of geographic, institutional and gender distribution is higher in the most prestigious journal and among Editors-in-Chief. Finally, it appears that `strategic decisions' in the selection of board members reproduce this homophily. |
| Date: | 2023–04 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2304.04242&r=hme |
| By: | Christian Mitsch |
| Abstract: | This paper focuses on a decentralized profit-center firm that uses negotiated transfer pricing as an instrument to coordinate the production process. Moreover, the firm's headquarters gives its divisions full authority over operating decisions and it is assumed that each division can additionally make an upfront investment decision that enhances the value of internal trade. On early works, the paper expands the number of divisions by one downstream division and relaxes basic assumptions, such as the assumption of common knowledge of rationality. Based on an agent-based simulation, it is examined whether cognitively bounded individuals modeled by fuzzy Q-learning achieve the same results as fully rational utility maximizers. In addition, the paper investigates different constellations of bargaining power to see whether a deviation from the recommended optimal bargaining power leads to a higher managerial performance. The simulation results show that fuzzy Q-learning agents perform at least as well or better than fully individual rational utility maximizers. The study also indicates that, in scenarios with different marginal costs of divisions, a deviation from the recommended optimal distribution ratio of the bargaining power of divisions can lead to higher investment levels and, thus, to an increase in the headquarters' profit. |
| Date: | 2023–03 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2303.14515&r=hme |
| By: | Sebastián Pizarro Erazo (LISE - Laboratoire interdisciplinaire pour la sociologie économique - CNAM - Conservatoire National des Arts et Métiers [CNAM] - HESAM - HESAM Université - Communauté d'universités et d'établissements Hautes écoles Sorbonne Arts et métiers université - CNRS - Centre National de la Recherche Scientifique, LIRTES - Laboratoire Interdisciplinaire de Recherche sur les Transformations des pratiques Éducatives et des pratiques Sociales - UPE - Université Paris-Est - UPEC UP12 - Université Paris-Est Créteil Val-de-Marne - Paris 12) |
| Abstract: | Research framework: Since the 1990s, the French government has developed social and fiscal policies that encourage families to use home-based employment to delegate domestic, parental and care work. The objective was to encourage women's ability to fulfil multiple social commitments. However, the studies point to the persistence of class inequalities in the practice of delegation and emphasize the workload that it implies for women. Objectives: This article aims to understand the class and gender mechanisms at work in the practice of delegation. It thus identifies the extent to which the contemporary French reproduction regime, namely the organizational referential for the practices of taking charge of the activities that sustain human life, alleviates domestic work in families and particularly for women. Methodology: Based on semi-directive interviews conducted in Île-de-France as part of a doctoral research project in sociology with 38 families, we will capture a set of measures emblematic of the reproduction regime through family practices: socio-fiscal incentive policies for family employment. Results: The analysis shows that by leaving the organizational referential of the reproduction regime unchanged, socio-fiscal incentive policies for family employment maintain and even reinforce class and gender inequalities. Conclusions: As long as the French reproduction regime does not reconsider the foundations of its organizational frame of reference, we have every reason to believe that policies encouraging the delegation of family activities will have unequal consequences. Contribution: This article shows how the inconsistencies between referential and social practices hinder the transformative impact of public policies. |
| Abstract: | Cadre de la recherche : Depuis les années 1990, les pouvoirs publics français développent des politiques sociofiscales qui encouragent les familles à avoir recours à l'emploi à domicile pour déléguer le travail domestique, parental et du care. L'objectif est de favoriser l'aptitude des femmes à tenir des engagements sociaux pluriels. Cela dit, les travaux pointent la persistance des inégalités de classe dans la pratique de la délégation et soulignent la charge de travail qu'elle implique pour les femmes. Objectifs : L'objectif de cet article consiste à saisir les mécanismes de classe et de genre à l'œuvre dans la pratique de la délégation. Ainsi, il cerne dans quelle mesure le régime de reproduction français contemporain, à savoir le référentiel organisationnel des pratiques de prise en charge des activités qui entretiennent la vie humaine, soulage le travail domestique dans les familles et, en particulier, du côté de femmes. Méthodologie : À partir d'entretiens semi-directifs menés en Île-de-France dans le cadre d'une recherche doctorale en sociologie auprès de 38 familles, nous allons saisir un ensemble de mesures emblématiques du régime de reproduction d'après des pratiques familiales : les politiques sociofiscales d'incitation pour l'emploi familial. Résultats : L'analyse montre qu'en laissant inchangé le référentiel organisationnel du régime de reproduction, les politiques sociofiscales d'incitation pour l'emploi familial maintiennent, voire renforcent les inégalités de classe et de genre. Conclusions : Tant que le régime de reproduction français ne reviendra pas sur les fondements de son référentiel organisationnel, tout porte à croire que les politiques qui encouragent la délégation des activités familiales auront des conséquences inégalitaires. Contribution : Cet article rend compte de la manière, dont les incohérences entre référentiels d'une part, et pratiques sociales d'autre part, freinent la portée transformatrice des politiques publiques. |
| Keywords: | politique publique, famille, travail domestique, conciliation travail-famille, reproduction humaine, France |
| Date: | 2023 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:halshs-03976821&r=hme |
| By: | Sommarat Chantarat; Chayanee Chawanote; Lathaporn Ratanavararak; Chonnakan Rittinon; Boontida Sa-ngimnet; Narongrit Adultananusak |
| Abstract: | This paper aims to explore drivers and dynamics of Thai agricultural households’ vicious cycle of debt, currently impeding their development prospects. We use unique combination of nationwide representative survey of 720 households and longitudinal administrative and financial account data from the farmer registration, the Bank of Agriculture and Agricultural Cooperatives (BAAC) and the National Credit Bureau (NCB) to reflect households’ financial problems from the lens of monthly income and expenditure flows, their financial attitudes and use of financial services from all sources to smooth consumption and debt dynamics and repayment behavior. The paper also tries to renew our understanding since Siamwalla et al. (1990) on the economic problems in Thai rural financial market and attempts to identify adverse impacts of debt moratorium policies, which are among the country’s most extensive policies aiming to help Thai agricultural households. The unique granularity and coverage of our data allow us to provide better understanding of the dynamics of problems and the heterogenous patterns across households – necessary to shed some lights for the redesign of rural financial system and sustainable farmers’ debt policies. |
| Keywords: | Agricultural households; Financial behavior; Household debt; Household debt; Policies; Rural financial market; Thailand |
| JEL: | D82 G20 G28 O12 O16 Q12 Q14 |
| Date: | 2023–03 |
| URL: | http://d.repec.org/n?u=RePEc:pui:dpaper:204&r=hme |
| By: | François Facchini (CES - Centre d'économie de la Sorbonne - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique); Benjamin Michallet |
| Abstract: | Free ecology broadly assumes that the protection of the environment hinges on well-defined property rights on natural resources. Such institutional conditions deliver a "double dividend": it both protects environment and creates wealth as shown by studies drawing on the Environmental Kuznets Curve (EKC). That said, the economic growth is all the more sustainable that production and consumption are pollution free, that requirement boiling down to "greening" supply and demand through different types of entrepreneurship. Indeed, the ecological entrepreneur seek to enforce greening along a top down process of a political nature, thus becoming a political entrepreneur drawing on coercion, restriction and taxes in order to impose its business model, in passing legislation and taxation aiming at green purposes (top down greening). Conversely, the green activist can resort to commercial exchange and/or to any civil society initiative to make the economy more sustainable, so that convert into a commercial or a social entrepreneur. Thus, entrepreneurship can spur innovation or leverage the social responsibility of firms based on a grounded action (bottom up greening). What is the most effective form of entrepreneurship among these? Put differently, who makes the best use of scarce resources in order to achieve ecological goals ? |
| Abstract: | L'écologie libérale défend l'idée que, pour protéger l'environnement, il faut établir des droits de propriété sur les ressources naturelles. Dans ce cadre institutionnel, l'entrepreneur générerait un double dividende : protéger l'environnement tout en créant de la richesse, comme en attestent les études fondées sur la courbe environnementale de Kuznets. La croissance de la production serait d'autant plus respectueuse de l'environnement que les pratiques de consommation et de production sont moins polluantes; «verdir» l'offre et la demande passe alors par plusieurs formes d'entrepreneuriat : imposer le verdissement par le haut (top down greening); devenir un «entrepreneur politique» et s'appuyer sur la contrainte légale, l'interdiction et l'impôt pour imposer son modèle d'affaires accompagné par un «verdissement» de la législation et de la fiscalité.Le militant écologiste peut, quant à lui, s'appuyer sur l'échange marchand et sur le mouvement associatif pour atteindre ses objectifs; il se mue alors en entrepreneur commercial ou social. Il peut ainsi contribuer à l'innovation ou activer la responsabilité sociale des entreprises, avec une action volontaire de terrain (bottom up greening). De ces formes d'entrepreneuriat vert, quelle serait la plus efficace ? Qui, de l'entrepreneur politique, de l'entrepreneur marchand ou de l'entrepreneur social pourrait optimiser les ressources rares de l'écologie ? |
| Keywords: | entrepreneuriat vert, entrepreneur politique, responsabilité sociale & innovation verte |
| Date: | 2021–11–09 |
| URL: | http://d.repec.org/n?u=RePEc:hal:cesptp:hal-03546853&r=hme |
| By: | François Facchini (CES - Centre d'économie de la Sorbonne - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique); Benjamin Michallet |
| Abstract: | Free ecology broadly assumes that the protection of the environment hinges on well-defined property rights on natural resources. Such institutional conditions deliver a "double dividend": it both protects environment and creates wealth as shown by studies drawing on the Environmental Kuznets Curve (EKC). That said, the economic growth is all the more sustainable that production and consumption are pollution free, that requirement boiling down to "greening" supply and demand through different types of entrepreneurship. Indeed, the ecological entrepreneur seek to enforce greening along a top down process of a political nature, thus becoming a political entrepreneur drawing on coercion, restriction and taxes in order to impose its business model, in passing legislation and taxation aiming at green purposes (top down greening). Conversely, the green activist can resort to commercial exchange and/or to any civil society initiative to make the economy more sustainable, so that convert into a commercial or a social entrepreneur. Thus, entrepreneurship can spur innovation or leverage the social responsibility of firms based on a grounded action (bottom up greening). What is the most effective form of entrepreneurship among these? Put differently, who makes the best use of scarce resources in order to achieve ecological goals ? |
| Abstract: | L'écologie libérale défend l'idée que, pour protéger l'environnement, il faut établir des droits de propriété sur les ressources naturelles. Dans ce cadre institutionnel, l'entrepreneur générerait un double dividende : protéger l'environnement tout en créant de la richesse, comme en attestent les études fondées sur la courbe environnementale de Kuznets. La croissance de la production serait d'autant plus respectueuse de l'environnement que les pratiques de consommation et de production sont moins polluantes; «verdir» l'offre et la demande passe alors par plusieurs formes d'entrepreneuriat : imposer le verdissement par le haut (top down greening); devenir un «entrepreneur politique» et s'appuyer sur la contrainte légale, l'interdiction et l'impôt pour imposer son modèle d'affaires accompagné par un «verdissement» de la législation et de la fiscalité.Le militant écologiste peut, quant à lui, s'appuyer sur l'échange marchand et sur le mouvement associatif pour atteindre ses objectifs; il se mue alors en entrepreneur commercial ou social. Il peut ainsi contribuer à l'innovation ou activer la responsabilité sociale des entreprises, avec une action volontaire de terrain (bottom up greening). De ces formes d'entrepreneuriat vert, quelle serait la plus efficace ? Qui, de l'entrepreneur politique, de l'entrepreneur marchand ou de l'entrepreneur social pourrait optimiser les ressources rares de l'écologie ? |
| Keywords: | entrepreneuriat vert, entrepreneur politique, responsabilité sociale & innovation verte |
| Date: | 2021–11–09 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-03546853&r=hme |
| By: | Elsig, Manfred |
| Abstract: | Abstract The notion of geopolitics is widely used in public debates these days. This paper focuses on how the concept has evolved over time in the study of international economic cooperation focusing in particular on trade and investment policies. In light of international relations and international political economy perspectives, the paper discusses the origins of the concepts found in the early 20th century. It then describes how it was marginalized by mainstream theories during the Cold War period, albeit it was implicitly taken up by theorists in the tradition of offensive realism. The paper then maps the liberal turn of the 1990s in political economy and how power politics were further relegated to the background with increasing market integration. It was not until the 2000s when power politics made a slow return. Both academia and politics have been witnessing a surprising renaissance of geopolitics in the past 10 years. The paper maps out the contours of this new variant of geopolitics, a mix of superpower rivalry and economic nationalism, and offers some reflections regarding the danger of deterministic scenarios and ways to temper geopolitics going forward. Biography Prof. Manfred Elsig |
| Date: | 2023–04–12 |
| URL: | http://d.repec.org/n?u=RePEc:wti:papers:1390&r=hme |
| By: | Natalia Vershinina (Audencia Recherche - Audencia Business School); Nichola Phillips (DMU - De Montfort University [Leicester, United Kingdom]); Maura Mcadam (DCU - Dublin City University [Dublin]) |
| Abstract: | Informed by contributions of Professor Alistair Anderson to the social perspective of entrepreneurship, rooted in social relationships and social capital, this article examines how members of an online community collectively interpret and negotiate the challenges of pursuing entrepreneurship alongside parenthood. This article adopts a multi-staged research design, incorporating netnography, participant observation, and qualitative semi-structured interviews. The analysis reveals the critical role of networking in how entrepreneuring women construct and maintain community connections and distinguishes between three dimensions of community engagement: Building, Being and Belonging. Drawing on communities of practice as an analytical lens, we offer new insights into the form and function of communal entrepreneurial practices facilitated by the digital environment. |
| Keywords: | Entrepreneurship, motherhood, online communities, communities of practice, gender |
| Date: | 2022–06–06 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-03765588&r=hme |
| By: | Ruiqi Rich Zhu; Cheng He; Yu Jeffrey Hu |
| Abstract: | Despite the widespread adoption of recommender systems by online investment platforms, empirical research into their impact on online investors' behaviors is scarce. Using data from a global e-commerce platform, the authors of this study adopt a regression discontinuity design to causally examine the effects of recommender systems on online investor behaviors, specifically in a mutual fund investment context. The results show that funds featured by recommender systems prompt significantly more purchases. This effect is especially salient among unsophisticated investors, who appear more likely to follow system-provided recommendations. Further analysis also reveals that these investors tend to suffer significantly worse investment performance after purchasing the recommended funds. Thus, recommender systems threaten to amplify wealth inequality among investors in financial markets. |
| Date: | 2023–03 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2303.14263&r=hme |
| By: | Leon, Daniel; Floyd, Shirelle; Abdulkadri, Abdullahi |
| Abstract: | Recognizing the importance of unpaid work is critical to achieving gender equality and the empowerment of women and girls, which is Goal 5 of the Sustainable Development Goals (SDGs). Like most SDGs that are focused on the people dimension of the 2030 Agenda, the COVID-19 pandemic has reversed some of the gains made in gender equality and women’s empowerment. Following the onset of COVID-19, many women have been forced to devote greater time to unpaid work activities, the extent of which has not been previously well-documented in the Caribbean. In this study, we evaluate how women and men allocated their time to different unpaid work in the household during the pandemic to gain a better understanding of the pattern of change in time-use in times of shocks and to inform the formulation of appropriate policy responses. Using data from a Rapid Gender Assessment Survey of the impacts of COVID-19 in the Caribbean, we found that women, especially those who work in the services sector, were more impacted by job losses than men. Although already overburdened with unpaid work prior to the pandemic, women spent more time in unpaid work, particularly in caring for children, than men during the pandemic. Unfortunately, there is no established system of time-use surveys in the Caribbean to provide a robust data set that could be used to establish trends in pre-pandemic use of time by women and men. The findings of the current study point to the need to conduct time-use surveys on a regular basis. In addition to providing statistics on how women and men allocate their time for different purposes, such surveys will provide insights into factors impeding women’s labour market participation in the Caribbean. Towards this end, important considerations for implementing time-use surveys are presented in this study for the consideration of National Statistical Offices of the Caribbean |
| Keywords: | POLITICA SOCIAL, ESTADISTICAS DEL USO DEL TIEMPO, COVID-19, VIRUS, PANDEMIAS, EMPLEO, TRABAJO NO REMUNERADO, IGUALDAD DE GENERO, SOCIAL POLICY, TIME USE STATISTICS, COVID-19, VIRUSES, PANDEMICS, EMPLOYMENT, UNPAID WORK, UNPAID WORK, GENDER EQUALITY |
| Date: | 2023–03–24 |
| URL: | http://d.repec.org/n?u=RePEc:ecr:col033:48770&r=hme |
| By: | Congressional Budget Office |
| Abstract: | Lawmakers created the Troubled Asset Relief Program (TARP) in 2008 to stabilize financial markets. The TARP’s net cost will be $31 billion, CBO estimates—is about the same as what the agency last reported in May 2022. |
| JEL: | G28 |
| Date: | 2023–04–20 |
| URL: | http://d.repec.org/n?u=RePEc:cbo:report:59062&r=hme |