共查询到20条相似文献,搜索用时 15 毫秒
1.
LI Junlin LI TianyouSchool of Economics Renmin University of China Beijing China 《Frontiers of Economics in China》2008,3(4):513
Using the reputation model of Kreps (1982), Vickers (1986) and Barro(1986), we develop a dynamic game model with incomplete information to examine the relations between the managers of state-owned enterprises(SOEs) in China and the government as the enterprise’s owner. Employing the model, we show that even a noncoopertive manager will not intrude the owner’s interests until the last period of his term in order to maximize his long term utility. The paper also discusses some phenomenona in state-owned enterprises in China, such as “insiders’ control”, “59 phenomenon” and excess on-the-job consumption. 相似文献
2.
Xi Wang 《Frontiers of Economics in China》2006,1(2):234-255
In view of the peculiar patterns of investment ownership structure and special investment phenomena in China, the paper sets
up formal dynamic investment behavioral models for state-owned enterprises (SOEs) and non-state-owned enterprises (NSOEs)
under the background of full-dimensional and gradual economic transition. The models are based on two key points: entrepreneurs
of SOEs have dual and changing operational objectives as the result of property-rights reformation; and dual-track approach
of price liberalization process and reformation of financing system alters the actual user costs of capital goods. Analytical
solutions are provided and it is shown that there exists a normative and unified explanation of the peculiar phenomena such
as “investment deficiency” of NSOEs, “investment thirst”, “investment inefficiency,” and dual shrinkage of SOEs in both investment
and output. Our research also sheds lights on evaluation of preceding reforms, understanding of SOEs’ losses and bad bank
loans. The paper partially justifies the property-rights-oriented reformation of SOEs.
__________
Translated from the China Economic Quarterly (经恎学季刊),2005, (7) (in Chinese) 相似文献
3.
Joseph T. Salerno 《The Review of Austrian Economics》2010,23(1):1-16
Carl Menger pioneered a unique theoretical research method which served as the foundation of the early Austrian school of
economics. Menger’s causal-realist analysis was revived and formalized just before and after World War 2 by Ludwig von Mises
as the “praxeological method.” Murray Rothbard, a student of von Mises’, utilized the method in formulating a comprehensive
system of economic theory in his treatise, Man Economy, and State published in the early 1960s. Rothbard’s treatise became the foundational work for the “Austrian revival” in the 1970s. In
this paper, we address several issues related to the role of Menger’s method in modern economics. First, ample evidence is
adduced that von Mises and Rothbard each expressed a surprising ambivalence with respect to his own work in relation to the
early Austrian school. Second, von Mises viewed Rothbard’s treatise as beginning a new epoch in economic theory. Third, contrary
to the conventional view, a careful analysis of his treatise shows that Rothbard drew heavily on the contemporary neoclassical
literature in developing his theoretical system and that his intent was never to set up a heterodox movement to challenge
mainstream economics. Rather, his main aim was to consistently apply the praxeological method to rescue economics from what
he considered the alien methodology of positivism, which was imported into economics after World War 2. Lastly, I will tentatively
suggest that the term “Austrian economics” as the designation for the intellectual movement that coalesced in the early 1970s
may now have outlived its usefulness. This term, which initially served an important strategic purpose in promoting the revival
of the broad Mengerian tradition, may have come to obscure the meaning and importance of the praxeological research paradigm
that Menger originated. 相似文献
4.
Ferdinando Meacci 《The Review of Austrian Economics》2009,22(4):333-348
The Austrian notion of stages of production and the related principle of the greater productivity of roundabout methods, plus
the neo-Austrian notions of vertical integration and vertical division of labour, are utilized in this paper in an attempt
to reconstruct Smith’s convoluted arguments on the different employment of capitals in chapter 5, book 2, of the Wealth of Nations. Smith’s arguments are first clarified in the light of the two concepts of capital (money capital and productive capital),
of the two aspects of productive labour (living labour and dead labour) and of the two viewpoints (of an individual and of
society) on which Smith’s theory is based. The results of this clarification are then used to prove that, independently of
Smith’s own words but in consistency with his theory, the notions of “quantity” and “productivity” of productive labour have
a “vertical”, as well as a “horizontal”, dimension so that they fit both the input–output scheme and the Austrian framework
of time-consuming methods of production. 相似文献
5.
What ethical criterion for intergenerational justice should be adopted, e.g., when faced with the task of managing the global
environment? Koopmans’ axiomatization of discounted utilitarianism is based on seemingly compelling conditions, yet this criterion
leads to hard-to-justify outcomes. The present analysis considers a class of sustainable recursive social welfare functions
within Koopmans’ general framework. This class is axiomatized by means of a weak equity condition (“Hammond Equity for the
Future”) and general existence is established. Any member of the class satisfies the key axioms of Chichilnisky’s “sustainable
preferences”. The analysis singles out one of Koopmans’ original separability conditions (his Postulate 3′a), here called
“Independent Present”, as particularly questionable from an ethical perspective. 相似文献
6.
Increasing foreign direct investment (FDI) flows accompanied with globalization have raised the concern of a “race to the
bottom” phenomenon in environmental protection. This is because footloose investors of “dirty” industries tend to relocate
to “pollution havens” of the developing world. However when pollutant is transboundary (as in the case of greenhouse gases),
the source country’s incentive to relocate and the recipient country’s willingness to host such industries are not straightforward.
This article studies the relationship between FDI and environmental regulation using a North–South market share game model
in a two-country setting, when pollution is transboundary. Contrary to the pollution haven hypothesis, our model shows that
if market sizes of the two countries are small, FDI will raise the emission standard of the host country, resulting in a “race-to-the-top”
phenomenon; but if market sizes are large enough, FDI will not change the emission standard of the South (from its laxest
form), a finding that is consistent with the “regulatory chill” argument. Equilibrium FDI is contingent on the fixed cost
of FDI, as the traditional proximity–concentration tradeoff theory predicts. 相似文献
7.
Stefano Fiori 《Constitutional Political Economy》2010,21(2):145-170
Herbert A. Simon acknowledged Friedrich A. Hayek as a founder of the notion of bounded rationality; yet Simon considered Hayek’s
perspective incomplete, and, more in general, their views on market mechanisms, planning, and organization exhibit considerable
differences. The comparison between these authors sheds light on Simon’s interpretation of planning, which emerges within
his theory of organization (and not in traditional debates on socialism). Contrary to Hayek, he maintained that planning,
in specific circumstances, is more advantageous than the market; and in both administration and organization, it involves
a decentralized structure based on near independent sub-units. Decentralization of decisions also appears in social planning,
which evolves through continuous interactions among planners (i.e., agents and institutions), and it is a process connoted
by the absence of “fixed goals”. Finally, Simon defined modern economies more in terms of “organizational economies” than
in those of “market economies” and this highlights a further difference with respect to the Austrian economist. This leads
to analysis of the nature of organizations as hierarchical and “near-decomposable” structures, which refers to Simon’s theory
of complexity and gives an epistemological explanation to the relation between centralization and decentralization. 相似文献
8.
Patrick J. Welch 《Forum for Social Economics》2000,29(2):61-74
Thomas Carlyle’s criticism of economics goes far beyond his epithet, “Dismal Science.” One aspect of economics that attracted
his attention was its use of numbers in both theories and empiricisms. Here is explored his attacks on economist’s use of
arithmetic in explaining human behavior, and statistics in addressing the condition of the working class. 相似文献
9.
Gianfranco Giulioni 《Journal of Evolutionary Economics》2011,21(4):595-618
In this paper, we explain GDP dynamics through an analysis of the forces that modify the structure of the economy. These forces
are represented by the entry of new firms and product innovations. Our model is inspired by Bak’s sand pile model, and the
entry of a new firm or innovation is comparable to dropping a grain of sand in Bak’s model. The resulting model involves the
insights of both Keynes and Schumpeter. It could be defined as Keynesian because the aggregate output is demand driven. That
said, the model can mainly be labeled as Schumpeterian for several reasons: (i) innovations have a key role, (ii) credit is
involved in supporting the innovation process, (iii) innovations partially destroy old industries, and finally (iv) without
innovations, the system gradually approaches its stationary state. In this simple model, the change in the number of sectors
(products) of the economy is the decisive factor with the following results: (1) the aggregate production has an increasing
trend; (2) fluctuations are asymmetric; (3) recessions have a “creative destruction” explanation; (4) “classical” cycles are
gradually replaced by “growth” cycles. 相似文献
10.
Dimitrios Xefteris 《Constitutional Political Economy》2011,22(3):221-237
Constitutions are multidimensional objects with non-trivial implications on the structure of the political environment and,
therefore, on the policy outcomes. This paper models constitutions as sets of “restraints” on the authority’s choice freedom
(absolute and democracy restraints). We argue that even if both kinds of restraints seem to be serving the same purpose (increase
social welfare), “democracy restraints” prolong the “life” of a constitution while “absolute restraints” not. We moreover
use the proposed way of modelling constitutions in order to explain the dominance of intermediate (in terms of tightness of
“democracy restraints”) constitutions in the real world. 相似文献
11.
We examine conditions under which plant-level data can be used to make firm-level inferences about technology, supply, and
demand. Global conditions for such reaggregation involve nonjointness restrictions in both the plant and product dimensions.
In the neighborhood of the firm’s fixed overheads, however, restrictions may be eased by appealing to a multiplant generalization
of Kohli’s notion of almost nonjointness, which we term “almost reaggregation.” While global conditions for almost reaggregation
are the same as for full reaggregation, the local conditions outlined are more easily satisfied. Analysts thus are less likely
to commit reaggregation bias when firm-level overheads are constant, and can take advantage of this conclusion through judicious
model design.
相似文献
12.
Franco Donzelli 《International Review of Economics》2006,53(4):491-530
The notion of solution plays a crucial role in the conceptual system of Léon Walras, the founder of the General Equilibrium
Theory (GET). In this paper, after introducing the two solution concepts employed by Walras in the development of his version
of GET, respectively called the “theoretical” and the “practical” solution, we discuss the problems such peculiar conception
gives rise to, as well as the attempts Walras makes to dodge them. Then we explain why and to what extent Pareto, Walras’
immediate successor and co-founder of GET, departs from Walras’ original conception, progressively developing an independent
viewpoint on the issue of equilibrium computability in GET. (JEL:B13, B21, B31, B41, C62, C68, D50) 相似文献
13.
John S. Chipman 《International Review of Economics》2006,53(4):451-475
This paper provides explanations for Pareto’s apparently contradictory approach to demand theory in simultaneously insisting
that measurability of utility is not needed to explain the equilibrium of consumers in competitive markets, and embracing
concavifiability and thus measurability of utility when this implies restrictions on consumers’ behavior such as the law of
demand. It also treats his method of calibrating an aggregate demand function by employing his law of income distribution,
so as to reproduce “Gregory King’s law”. Finally, some disputed issues are dealt with concerning the nature of Pareto’s contributions
to welfare economics. (JEL: B13, D11, D60). 相似文献
14.
James P. Henderson 《Forum for Social Economics》2000,29(2):49-59
This paper considers Charles Dickens’ charge that by relying too exclusively on statistics, political economists simply cannot
understand the human dimension of the questions they examine and the policies they propose to reform economic conditions.
Particular attention, is paid to three of Dickens’ writings: his 1836 “Full Report of the First Meeting of the Mudfog Association
for the Advancement, of Everything;” his 1853 Christmas story, “The Chimes;” and finally, his 1854 novelHard
Times, where these questions were a central theme. 相似文献
15.
This essay describes and interprets J. Ron Stanfield’s analysis of Karl Polanyi. Stanfield has helped to clarify Polanyi’s
“double-movement” thesis by arguing that the double movement of self-regulating market forces and the protective response
is essentially about freedom versus security. These insights provide an analysis that takes Polanyi into the twenty-first
century by developing a theory of “reembedded globalization.” This is not something that Polanyi experienced before his death
in 1964. Corporate globalization and the escalation of free-market rhetoric have led to a new round of disembedding since
the 1970s, and this is evident by both the top-down, corporate globalization of privatization, deregulation, and marketization,
as well as, by the challenges to it from the “movement of movements” coalescing around the World Social Forum. The most conspicuous
evidence of this neo-protective response and its challenge to corporate-driven market forces is that between the security
needs of the world’s globalization victims and the freedom of transnational corporations to make profits anywhere and in any
way throughout the world. Understanding the clash in this way suggests that for humanity to save itself, it must struggle
to reembed globalization and put security ahead of unbridled freedom. Reembedding globalization requires asserting democratic
security ahead of the economic freedom of big business. 相似文献
16.
Steven Horwitz 《The Review of Austrian Economics》2011,24(2):171-184
This paper honors Don Lavoie’s work on the relationship between theory and history in Austrian economics by using the current
recession as an example of many of the ideas found in his paper on the “Interpretive Dimension of Economics.” More specifically,
I start from the premise that all history comes from theory because it is theory that guides what we count as “facts” or “data.”
From Menger onward, a core element of the Austrian approach has been to see the purpose of theory as rendering human action
and its unintended consequences intelligible. We do that by telling historical narratives where theory is the logical glue
that holds the story together. I look at the Austrian story of the Great Recession in light of these ideas. What the Great
Recession demonstrates is that the core theoretical elements of Austrian business cycle theory are narrower than we might
think, but that consciously recognizing the contingent elements gives the theory additional flexibility to explain more of
various real-world crises when augmented by additional ideal typifications properly used. 相似文献
17.
FDI Effects on National Competitiveness: A Cluster Approach 总被引:1,自引:0,他引:1
Despite the close relationship between the activities of multinational enterprises (MNEs) and the competitiveness of host
countries, few studies have linked these two subjects from a global perspective. Combining Porter’s approach and the work
accomplished by international business economists provides a powerful analytical tool with which to review the recent empirical
and theoretical literature on the effects of foreign direct investment (FDI) on national competitiveness. The contention is
that FDI can indeed be a source of competitiveness but that previous studies have neglected the role of location, in particular
the role of clustering on the absorptive capacity of the host State. The aim of this paper is to provide a comprehensive conceptual
framework for assessing the effects of FDI on competitiveness to guide policy-makers as well as further research.
This study is part of the research project entitled, “Multilateral Rules on Trade and Investment,” supported by the NCCR project
“International Trade Regulation: From Fragmentation to Coherence,” World Trade Institute (WTI), Berne. 相似文献
18.
Nikolai Wenzel 《The Review of Austrian Economics》2010,23(1):55-78
This paper develops the concept of constitutional culture—the attitude, thoughts, and feelings about constitutional constraints
and the nature, scope, and function of constitutionalism. Constitutional culture is approached as a complex emergent phenomenon
bridging Hayekian cognitive and institutional insights. It can be studied as a mental model, a series of expectations and
understandings about the constitutional order, how it is, and how it ought to be. The “map” and “model” approach from Hayek’s
Sensory Order (1952) is employed to understand how individuals and (cautiously) groups of individuals at the national level approach constitutionalism.
This paper goes beyond the more traditional one-size-fits-all approach where all individuals respond uniformly to incentives,
as provided by the constitution qua contract. Instead, constitutionalism is tied up in the individual’s vision of the world,
that is, what Hayek (1948) labels “the facts of the social sciences.” The paper concludes with four areas where constitutional
culture can further the insights of constitutional political economy: comparative political economy, constitutional stickiness,
constitutional maintenance, and the new development economics. 相似文献
19.
Consider a population of farmers who live around a lake. Each farmer engages in trade with his m adjacent neighbors, where m is termed the “span of interaction.” Trade is governed by a prisoner’s dilemma “rule of engagement.” A farmer’s payoff is
the sum of the payoffs from the m prisoner’s dilemma games played with his m/2^m/_2 neighbors to the left, and with his m/2^m/_2 neighbors to the right. When a farmer dies, his son takes over. The son who adheres to his father’s span of interaction decides
whether to cooperate or defect by considering the actions taken and the payoffs received by the most prosperous member of
the group comprising his father and his father’s m trading partners. Under a conventional structure of payoffs, it is shown that a large span of interaction is detrimental
to the long-run coexistence of cooperation and defection, and conditions are provided under which the social outcome associated
with the expansion of trade when individuals trade with a few is better than that when they trade with many. Under the stipulated
conditions it is shown, by means of a static comparative analysis of the steady state configurations of the farmer population,
that an expansion of the market can be beneficial in one context, detrimental in another. 相似文献
20.
Experienced Utility as a Standard of Policy Evaluation 总被引:1,自引:0,他引:1
This paper explores the possibility of basing economic appraisal on the measurement of experienced utility (utility as hedonic
experience) rather than decision utility (utility as a representation of preference). Because of underestimation of the extent
of hedonic adaptation to changed circumstances and because of the “focusing illusion” (exaggerating the importance of the
current focus of one’s attention), individuals’ forecasts of experienced utility are subject to systematic error. Such errors
induce preference anomalies which the experienced utility approach might circumvent. The “day reconstruction method” of measuring
experienced utility is considered as a possible alternative to stated preference methods.
JEL classifications: D63, Q51 相似文献