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on Post Keynesian Economics |
| By: | NICHOLAS GLYTSOS |
| Abstract: | This paper builds a Keynesian type econometric model with a dynamic perspective and a sound theoretical basis, for investigating the impact of remittances on consumption, investment, imports and output. It estimates short and long-run multiplier effects of exogenous shocks of remittances, with data from five Mediterranean countries. The analysis reveals a uniform country performance of instability and uncertainty, with great temporal and inter-country fluctuations of remittance effects. The findings point to different inter-country priorities of remittance spending and to an asymmetric impact of remittance changes, in the sense that the good done to growth by rising remittances is not as great as the bad done by falling remittances. |
| Keywords: | Keywords: Migration, Remittances, Growth, Dynamic Model, Mediterranean Countries |
| JEL: | F22 O11 O19 |
| Date: | 2005–05–14 |
| URL: | http://d.repec.org/n?u=RePEc:wpa:wuwpla:0505014&r=pke |
| By: | Grigorii Pushnoi (International Bogdanov Institute) |
| Abstract: | The mathematical formulation of new System Method based on ideas of “system potential” and “conditions of its realization” is given. Cyclical dynamics of “efficiency of work” of a complex adaptive system follows from this Method. These cycles have the properties like to the properties of typical business cycles. It is proposed to identify these evolution cycles of complex adaptive systems as applied to economic system with business cycles. |
| Keywords: | business cycle, catastrophe jump, economic potential, complex adaptive system |
| JEL: | O P |
| Date: | 2005–05–21 |
| URL: | http://d.repec.org/n?u=RePEc:wpa:wuwpdc:0505014&r=pke |