nep-pke New Economics Papers
on Post Keynesian Economics
Issue of 2008‒01‒19
four papers chosen by
Karl Petrick
University of the West Indies

  1. Keynes and the Post Keynesians on Sustainable Development By Eric BERR (GREThA)
  2. Innovations from SMEs or Large Firms? Sector Structure and Dynamics By Wilfred Dolfsma; Gerben van der Panne
  3. The German Socio-Economic Panel Study (SOEP) : Scope, Evolution and Enhancements By Gert G. Wagner; Joachim R. Frick; Jürgen Schupp

  1. By: Eric BERR (GREThA)
    Abstract: Since the beginning of the 1970s, the questions related to ecology come in the forefront and progressively led to the adoption of the concept of sustainable development, which now appears to be a new world-wide objective. We argue that numerous writings of Keynes contain the premises of such a sustainable development. We present his views relatively to the three pillars of sustainability: ecological, social and financial. Indeed, Keynes’ positions on uncertainty, money, the place of economics, arts, financing, philosophy, etc. are consistent with a strong sustainability. Finally, we try to give some insights for an indispensable 21st century post Keynesian sustainable development program.
    Keywords: Keynes, sustainable development, Post Keynesian
    JEL: B31 E12
    Date: 2008
  2. By: Wilfred Dolfsma; Gerben van der Panne
    Abstract: In this paper we investigate which elements in both an industry’s structure and in an industry’s dynamics affect innovativeness. We use the most appropriate measure for innovativeness –new product announcements- to find specifically that dominance of large firms consistently affect industry innovativeness negatively. Other industry structure characteristics are surprisingly consistent across different model specifications. Our findings for indicators of industry dynamics are noteworthy for instance as they contrast with the ILC predication that firm entry will boost innovativeness.
    Keywords: Innovation, small vs large firms, industry structure, industry dynamics, Industry Life Cycle
    JEL: L1 O1 O3
    Date: 2007–12
  3. By: Gert G. Wagner; Joachim R. Frick; Jürgen Schupp
    Abstract: After the introduction in Section 2, we very briefly sketch out current theoretical and empirical developments in the social sciences. In our view, they all point in the same direction: toward the acute and increasing need for multidisciplinary longitudinal data covering a wide range of living conditions and based on a multitude of variables from the social sciences for both theoretical investigation and the evaluation of policy measures. Cohort and panel studies are therefore called upon to become truly interdisciplinary tools. In Section 3, we describe the German Socio-Economic Panel Study (SOEP), in which we discuss recent improvements of that study which approach this ideal and point out existing shortcomings. Section 4 concludes with a discussion of potential future issues and developments for SOEP and other household panel studies.
    Keywords: SOEP, household panel studies, survey design
    JEL: C81 C91 D10 D31 D63 D80 I0 J0 N34 P36 R23 Z13
    Date: 2007
  4. By: Capraro, Santiago
    Abstract: In the present paper the approach of the law of Thirlwall was used to study the relation between the economic growth and the external sector of Argentina in period 1970-2003. Thirlwall maintains that the main restriction that has an opened economy to obtain a rate of growth elevated in the long term is its balance of payments (BP). Strictly the restriction arises by the characteristics from the functions from demand by exports and imports. The law of Thirlwall indicates that if in the long term the rate of real growth of the GDP (yt) can be approximated through the rate of consistent growth with the balance of the BP (yb) and both are small in relation to third countries, then the growth of that economy this restricted by the BP. Empirically we worked first with the equation that relates to the GDP of Argentina and the World GDP through the ratio of the elasticities entrance of the demands by exports and imports, which defines the law of Thirlwall without flows of capitals. We demonstrated to the existence of a relation of long term between the GDP of Argentina and the world-wide GDP. We formalized the relation through the model TIME II. Soon one worked with the definition of the law of Thirlwall with real flows of capitals without getting to formulate a econometric model in as much we could not prove the existence of a relation of long term between the flows of real capitals and the GDP of Argentina between years 1970-2003. We changed the strategy and we studied the equations of demand by exports and imports. Through these we managed to calculate the elasticities income of both functions, that respectively turned out to be 2.02 and 3.41 for the exports and imports. Defining the ratio of elasticities entrance of the exports and imports (ε / π) equal to 0.59, minor to the unit. With this result we could calculate the rate of growth of the consistent GDP with the balance of the BP. The annual average of the considered rate was 2%, that approximates in the long term to the rate of real growth of the GDP equal to 1,9%. Both rates are smaller to experimented by regions and the countries in the same period. For example Brazil grew 4%, South America 3.1 and the world economy expanded to 3.1% annual. With these elements we can affirm that the growth of the GDP in Argentina during period 1970-2003 was restricted by the BP.
    Keywords: Ley de Thirlwall; crecimiento; econometria; VEC;
    JEL: O10 O1 F42 F47 F41
    Date: 2007–02–02

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