nep-hpe New Economics Papers
on History and Philosophy of Economics
Issue of 2007‒05‒04
four papers chosen by
Erik Thomson
University of Chicago

  1. Economics Research in Canada: A Long-Run Assessment of Journal Publications By James B. Davies; Martin G. Kocher; Matthias Sutter
  2. Rediscovering the Solow Model: An Energy Network Approach By Carl-Johan Dalgaard; Holger Strulik
  3. Do Economists' and Financial Markets' Perspectives on the New Members of the EU Differ? By Pipat Luengnaruemitchai; Susan Schadler
  4. The Impossibility of a Just Pigouvian By Casilda Lasso de la Vega; Christian Seidl

  1. By: James B. Davies (University of Western Ontario); Martin G. Kocher (University of Innsbruck); Matthias Sutter (University of Amsterdam)
    Abstract: We examine the publications of authors affiliated with an economics research institution in Canada in (i) the Top-10 journals in economics according to journals' impact factors, and (ii) the Canadian Journal of Economics. We consider all publications in the even years from 1980 to 2000. Canadian economists contributed about 5% of publications in the Top-10 journals and about 55% of publications in the Canadian Journal of Economics over this period. We identify the most active research centres and identify trends in their relative outputs over time. Those research centres successful in publishing in the Top-10 journals are found to also dominate the Canadian Journal of Economics. Additionally, we check the robustness of our findings with respect to journal selection, and we present data on authors' Ph.D.-origin, thereby indicating output and its concentration in graduate education.
    Keywords: research in economics; Canadian economics; top journals
    JEL: A14
    Date: 2007
  2. By: Carl-Johan Dalgaard (Department of Economics, University of Copenhagen); Holger Strulik (University of Hannover)
    Abstract: The present paper provides a new theory of capital accumulation and growth. While the law of motion for capital per worker is structurally identical to that of the neoclassical growth model (Solow, 1956), the underlying foundation is very different. In contrast to the Solow model, the purposed theory is based on thermodynamical principles and associations reflecting the geometrical properties of energy transporting networks. The theory predicts that in the absence of technological progress growth is ultimately limited by the capacity of networks to supply sufficient energy to support continual increases in the per capita stock of capital. We also examine the theory empirically, and find that cross country data supports its key predictions.
    Keywords: economic growth; energy; networks
    JEL: O11 I12 J13
    Date: 2007–04
  3. By: Pipat Luengnaruemitchai; Susan Schadler
    Abstract: In the past several years, the ten new Central and Eastern European members of the European Union have enjoyed rapid growth but frequently alongside growing external imbalances. Economists have pointed to rising vulnerabilities, but markets compressed sovereign bond yields. This paper examines the evidence from the perspective of economists' vulnerability analysis and markets' pricing of sovereign bonds. It finds that spread are lower than can be explained by "fundamentals" and speculates on the causes and permanence of this yield compression.
    Keywords: New Member States , Emerging Markets , Sovereign Spreads , Emerging markets , European Union , Economic growth , Bonds , Prices , Capital markets ,
    Date: 2007–03–22
  4. By: Casilda Lasso de la Vega (University of the Basque Country); Christian Seidl (University of Kiel)
    Abstract: An income inequality measure satisfies the Pigou-Dalton transfer principle if progressive transfers decrease income inequality. When transfers cause transaction costs, one can trace out the maximum leakage such that the transfer pays at the margin. An income inequality measure is leaky-bucket consistent if the transaction costs of a transfer are neither negative nor do the exceed the amount of the transfer. We show that the Pigou-Dalton transfer principle and leaky-bucket consistency are not reconcilable. Experimental research has shown that subjects’ behavior exhibit graded compensating justice, that is compensating income changes which maintain the degree of income inequality and point in the same direction should provide less income compensation for richer than for poorer income recipients. We show also that the Pigou-Dalton transfer principle and graded compensating justice are not reconcilable.
    Keywords: Income distribution; Intermediate inequality indices; Unit-consistency
    JEL: D31 D63
    Date: 2007

This nep-hpe issue is ©2007 by Erik Thomson. It is provided as is without any express or implied warranty. It may be freely redistributed in whole or in part for any purpose. If distributed in part, please include this notice.
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