Forecasting recruitment needs of the Russian economy: Qualitative aspects

The article presents a new mechanism for translating labor market’s needs to the vocational education system that promotes the provision of long-term personnel requirements within the framework of the implementation of competence-based educational programs.     

国企参与低碳经济建设应着力的四个方面

业界人士提出,国企必须将发展低碳经济与自身的社会责任有机结合,将其作为企业发展目标和核心战略,纳入到企业发展规划中。具体应着力于四个方面。     

The political economy of gambling in a neocolonial economy

Conclusion This study has attempted to show the entrenched character of parasitic capitalism in the form of gambling in the Jamaican economy on a scale that massively but painlessly redistributes income from the working class to the petite bourgeoisie. It speaks to a dimension of class exploitation that is often ignored in the focus on large multinational corporations and has parallels in the parasitic forms of capitalism that exploit the black community in the United States. Parasitic capitalism is seen as promoting a form of false class consciousness that seeks outlets to class frustrations in precapitalist illusions of luck and chance that feed the coffers of the grasping petite bourgeoisie with hard-earned working class wage incomes. The data and findings point clearly to the need to either eliminate parasitic capitalist activities such as gambling or alternatively remove it from the control of the petite bourgeoisie and convert the capital accumulated to community and mass-oriented development and social projects.     

Price formation and the inflationary process in a small open economy (The Netherlands)

Summary Price formation in the manufacturing, services, building and agricultural sectors is analysed by estimating price equations in which unit labour costs, import prices, capacity utilization and the structure of the sellers market (sheltered or competitive) play a part. These equations have been included in a model in which sectoral wages and social security premiums are endogenous as well. This model, which is still partial since it considerse.g. labour productivity and capacity utilization as exogenous, allows a study of the intersectoral multiplier effects which were found to be quite considerable.A large number of simulation results are presented showing the effects of both domestic and foreign exogenous shocks.Finally, an analysis of the relative importance of the factors determining the rise in consumer prices during 1954–1972 has been carried out.     

Analysis of main subjects of the goods price formation in the market economy

The theoretical researchers, in the socialist market economy, are obliged to study the new features, the new rules, and the new important subjects of the product and service price formation in the contemporary economic development. Based on the theoretical analysis of the main subjects of the goods price formation, this paper reveals that the governmental policy is the main information resource of the main subjects of the goods price formation, the cost of goods is the main index of the main subjects of goods price formation and the consumer demand is the initial motivation of the main subjects of goods price formation.     

From a labor-managed economy to a market economy: A contribution to economic transformation

Does transition of a labor-managed economy to a capitalist economy really lead to an efficient economy? Which transformation strategies can be established during the transition? Which type of capitalist economy can be predicted by such transition strategies? This paper answers these questions by using the economic models described and explained by the main principles of post-Keynesian economic theory. It is found that the transition process leads to replacing the investment function, instituting the labor market, and replacing the expectations of a personal income rate with a profit rate. To achieve these processes, privatization and institution building, or institutional restructuring, are crucial. They also remove problems that should be removed by stabilization and restructuring.     

Pricing of commodities in a mixed economy

Capital theory of the Cambridge School has, during the last three decades, cast doubts on the neoclassical methods of determining prices. The Sraffa analysis, on the one hand, and Neumann analysis, on the other, independently applied to the determination of properties of a Robinsonian golden age, supplied alternative modes of determining prices. The questions is often asked as to why so much stress is put on correct valuation of capital when the real problem is correct allocation of resources to industry.The author examines the system whereby the solution of the Sraffa-Neumann input-output system for prices yields corresponding equations which determine allocations as the dual. Hence, he concludes that unless the system is so posed as to give the correct price equations, it cannot give the correct allocations equations. Thus the insistence on correct theory of valuation of capital stems from a desire to achieve an optimal allocation vector for any planned economy, especially for a mixed economy where a private sector exists and follows price signals.     

Organization of production in a competitive economy

In the present paper we introduce a general equilibrium model of the organization of production and analyze the optimality and existence of an equilibrium. We introduce the production technology of the economy as a collection of production processes and allow each potential producer to choose the production processes to operate. We model organization and transaction costs by means of an organizational technology that determines the production set of a producer as a function of the production processes that the producer chooses to operate. For a competitive economy, we show the equilibrium organization of production is optimal and then prove a general existence theorem for an atomless economy.     

Loan-to-value policy in a bubble-creation economy

This paper provides a theoretical analysis of macroprudential policy in the form of loan-to-value (LTV) restrictions in a bubble-creation economy. Such policy measures have been used intensively in Asia to deal with credit and property price boom-bust cycles while the effectiveness remains unclear, especially the country-specific cases. We find that the effect on investment and size of bubbles depends on the degree of financial development. Specifically, restrictive LTV policies tend to be more effective in dampening asset-price bubbles in economies that have a high degree of financial depth. High (low) financial depth implies that bubbles originally crowd out (in) investment, so that implementation of LTV policies causes bubbles to decrease (remain unchanged). These might explain some mixed empirical results of LTV policy on dampening asset-price growth.     

Trade in a changed world economy

Since the end of 1973, the world has been going through the downward phase of a long-term business cycle. From past experiences a reduction of the relative weight of international trade and a change in the structure of this trade from manufactures to primary products would be expected. Yet, this is not manifested in the present episode: the relative share of trade has increased during the last decade at the same rate as it had earlier, and no structural change is evident. This should be most probably attributed to the post-war international policy atmosphere. Absence of severely restrictive trade policies, combined with a regime of flexible exchange rates, have prevented the disruption of trade, both directly and indirectly, through the prevention of actual contraction of incomes during this phase.     

Optimal deficits in a growing economy

This paper considers the optimal size of government deficits compatible with the optimal economic growth under the assumption that government expenditures and taxes are endogenously chosen. If it is desirable to decrease the government expenditure-GNP ratio, it is also desirable to decrease the deficit-GNP ratio during the transition. We find that recent fiscal reconstruction movement in Japan may be justified from the viewpoint of the long-run macro I-S balance. This paper clarifies normative implications of the deficit as a policy variable to adjust the divergence between the exogenous savings and the desired investment.     

Optimal strategies in a developing economy

Zusammenfassung Optimale Strategien in einer sich entwickelnden Volkswirtschaft. — Der vorliegende Aufsatz untersucht optimale Strategien für Industrialisierung, Vollbesch?ftigung und ein sich selbst tragendes Wachstum in einem Entwicklungsland. Der Autor bemüht sich zu zeigen, da\ es zahlreiche nützliche wirtschaftspolitische Ma\nahmen zur F?rderung der wirtschaftlichen Entwicklung gibt. Im ersten Abschnitt der Abhandlung werden die verschiedenen wirtschaftspolitischen Ziele in einem Entwicklungsland analysiert. Der zweite Abschnitt enth?lt das grundlegende makro?konomische Entwicklungsmodell bei Annahme einer konstanten Wachstumsrate der Bev?lkerung. Im dritten Abschnitt wird eine Untersuchung der wichtigsten Voraussetzungen einer optimalen Entwicklung bei Verwendung des im zweiten Kapitel dargestellten Modells vorgenommen. Der vierte Abschnitt ist der Formulierung eines Modells gewidmet, das die Besch?ftigungs- und Bev?lkerungsprobleme in die Betrachtung einbezieht. In diesem Abschnitt werden optimale Strategien für Vollbesch?ftigung und ein sich selbst tragendes Wachstum untersucht. Einige komplizierte technische Berechnungen werden im Anhang vorgelegt.

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Résumé Stratégies optimales dans une économie en train de développement.— Dans cet article, on étudie les stratégies optimales pour l’industrialisation, le plein emploi et un accroissement économique qui se tient soi-même dans un pays en développement. L’auteur cherche à démontrer qu’il y a beaucoup de mesures de politiques économique utiles à avancer le développement. Dans la première section de l’article, sont analysés en général les différents buts d’une économie en développement. La seconde section présente le modèle fondamental de macro-développement sous un taux constant d’accroissement de la population. Dans la troisième section, on donne l’analyse principale d’un développement optimal, en utilisant le modèle de la seconde section. La quatrième section est consacrée à la formulation d’un modèle qui tient compte des problèmes de l’emploi et de la population. Dans cette section, on étudie les stratégies optimales pour un plein emploi et un accroissement économique qui se tient soi-même. Quelques calculs techniques compliqués sont donnés dans l’annexe.

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Resumen Estrategias óptimas en una economía en desarrollo.— En el presente artículo se analizan estrategias óptimas para la industrializatión, el pleno empleo y un crecimiento económico autónomo en un país en desarrollo. El autor trata de demostrar de que existen numerosas medidas político-económicas útiles para el fomento del desarrollo económico. En la primera parte del artículo se estudian las diversas metas político-económicas en un país en desarrollo. En la segunda parte se presenta un modelo macroeconómico de desarrollo bajo el supuesto de un crecimiento demográfico constante. Este modelo se aplica en la tercera parte para analizar los condicionantes de un desarrollo óptimo más importantes. En la cuarta parte se formula un modelo con la inclusión de los problemas de población y empleo. Ademàs se analizan estrategias óptimas para el pleno empleo y un crecimiento económico autónomo. El apéndice contiene algunos càlculos técnicos complicados.

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Riassunto Ottimali strategie in un’economia in sviluppo.— Il presente saggio esamina ottimali strategie per industrializzazione, piena occupazione ed una crescita che si sostiene da sé in un Paese in via di sviluppo. L’autore cerca di mostrare che ci sono numerosi provvedimenti per la promozione dello sviluppo industriale. Nella prima parte del saggio sono analizzate le diverse mete politico-economiche in un Paese in via di sviluppo. La seconda parte contiene il modello fondamentale macroeconomico di sviluppo basato sul presupposto di una costante rata di crescita della popolazione. Nella terza parte viene intrapreso un esame dei presupposti più importanti di uno sviluppo ottimale impiegando il modello rappresentato nel secondo capitolo. La quarta parte è dedicata alla formulazione di un modello che include nella considerazione i problemi dell’occupazione e della popolazione. In questa parte sono esaminate ottimali Strategie per piena occupazione ed una crescita che si sostiene da sé. Alcuni complicati calcoli tecnici vengono presentati in appendice.

     

Bertrand-Edgeworth equilibrium in a cash-in-advance economy

This paper is about price and wage competition in a dynamicgeneral equilibrium model. We consider an equity financed economywhere firms need money to finance their input costs. Part ofthe output is sold for money to be used in the next period asworking capital and the remaining part is distributed to ownersas real dividends. We first characterize the steady state competitiveequilibrium path. Second, we study whether this competitiveequilibrium can be supported as a pure strategy Nash equilibriumin price and wage setting games. We prove a positive resultfor price competition and a negative one for wage competition.     

Cambridge distribution in a world economy

The article outlines a two-country Cambridge model of growth and distribution. The condition for the Cambridge equation to apply to the world economy is outlined. When this is satisfied, a dual theorem holds in one of the two countries, and the country with the greater aggregate savings ratio is in current account surplus. The original Cambridge model was formulated as a means of equating the warranted and natural growth rates of both Harrod and Domar for the case of a closed economy. Thus, the world version is a method of satisfying Harrod's requirement that his model be capable of extension so as to include foreign trade.     

Tourism as a factor of rural economy diversification

The article considers the role and significance of tourism as a factor of rural economy diversification. It reveals the conditions and preconditions for promoting its development and proves the need for implementation and completion of regional and municipal programs, supporting rural tourism as part of the comprehensive development of rural territories, based on the example of the Republic of Bashkortostan.     

The response of a small open economy to a disturbance

Zusammenfassung Die Reaktion einer kleinen offenen Volkswirtschaft auf eine St?rung. — Die moderne Au\enhandelstheorie besteht im wesentlichen aus zwei voneinander unabh?ngigen Teilen : die Tauschtheorie besch?ftigt sich mit den langfristigen Handels- und Investitionsstr?men, die monet?re Theorie mit den kurzfristigen Ver?nderungen in der Zahlungsbilanz. Es fehlt eine Theorie, in der reale und monet?re Faktoren wirklich miteinander verknüpft sind. In dieser Arbeit wird versucht, diesem Ziel ein wenig n?her zu kommen. Wir betrachten eine kleine offene Volkswirtschaft, ursprünglich in einem langfristigen Gleichgewicht, die einer einmaligen und unerwarteten St?rung unterworfen ist. Die daraus sich ergebenden ?nderungen der Faktorallokation und des Realeinkommens werden als gegeben angesehen, und es wird untersucht, welche induzierten Anpassungen in der Zahlungsbilanz oder dem Wechselkurs erfolgen. Unter anderem werden hinreichende Bedingungen für monotone Anpassungspfade und für ein “überschie\en” abgeleitet.

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Résumé La réponse d’une petite économie ouverte à une perturbation. — La théorie du commerce international moderne comprend deux parties essentiellement indépendantes: une partie de troc qui s’occupe avec les structures de commerce et d’investissement à long terme, et une partie monétaire qui s’occupe avec la conduitea à court terme de la balance des paiements. Ce qui manque est une théorie par laquelle les facteurs réels et monétaires sont véritablement entremêlés. Cet article prend un petit pas envers ce but. Nous analysons une petite économie ouverte, d’abord en équilibre à long terme, qui est touchée par une perturbation abrupte, unique et imprévue d’une sorte quelconque. Nous regardons la conséquente réallocation des facteurs et la variation du revenu réel comme donnée et analysons l’ajustement induit de la balance des paiements ou du taux de change. Inter alia, nous dérivons les conditions suffisantes pour les voies d’ajustement monotones et pour les phénomènes ?d ’overshooting?.

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Resumen Reacción a un ?shock? en una economía peque?a y abierta. — La teoría moderna del comercio internacional está compuesta de dos partes esencialmente diferentes: un componente de intercambio real que se ocupa de la estructura a largo plazo del comercio y de la inversión y un componente monetario que trata de la conducta a corto plazo de la balanza de pagos. Lo que falta, es una teoría en la que se encuentre una genuina fusión de factures reales y monetarios. Con este objetivo se estudia una pequefia economia abierta, inicialmente en equilibrio a largo plazo y que se ve de repente sometida a un ?shock? inesperado de cualquier tipo. Considerando como dados la consecuente realocación de recursos y los cambios en la renta real, se estudia el ajuste inducido de la balanza de pagos y del tipo de cambio. Entre otros aspectos, se derivan condiciones suficientes para la existencia de funciones monótonas de ajuste y de ?overshooting?.

     

Stability of a competitive economy: A reconsideration

Negishi (1962) suggested that price adjustment was a means of attaining a particular optimum rather than an equilibrium; this provides the starting point for the present paper. Using a gradient process to arrive at an optimum, the paper shows that with proper distribution of endowments, this process may be considered to be an actual price adjustment process. The role of a proper distribution is investigated further and related to the existing published literature. It is also shown that if the distribution of endowments satisfies certain regularity features then the equilibrium will be globally stable under the classical price adjustment rule where price adjustment is proportional to excess demand.     

让创新成为习惯——访德鲁克管理研究生院院长艾拉·A·杰克逊

经历是人生的财富,无论作为教育家、管理家、银行家还是税务官,他都用自己的方式尝试新的东西。而创新的同时,带给人们的是更多的思考艾拉·A·杰克逊是一个精力充沛、充满激情的人。在接受采访时,艾拉总是在翻译还未说完时,就迫不及待举起自己的手臂。艾拉是美国克莱蒙特大学德鲁