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1.
We study the effects of an economic policy in an endogenous growth general equilibrium framework where production of consumption
goods requires two resource inputs: a polluting non-renewable resource and a non-polluting labour resource. The use of the
former contributes to the accumulation of pollution in the atmosphere, which affects welfare. There is a specific research
sector associated with each of those resources. We provide a full welfare analysis, and we describe the equilibrium paths
in a decentralized economy. We go on to study the effects of three associated economic policy tools: a tax on the polluting
resource, and two research subsidies. We show that the optimal environmental policy has two main effects; it delays the extraction
of the resource and with it the level of polluting emissions and it reallocates research efforts, decreasing the amount put
into “grey” research to the benefit of “green” research. We also show that the environmental policy is grey-biased in the
short-term, and green-biased in the long-term. Finally, we compute the optimal values for these tools.
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2.
Using an Endogenous Growth Model with physical and human capital and unemployment (Mauro and Carmeci in J Macroecon 25:123–137,
2003), we study the effects of subsidies to education in economic growth. According to the model, we conclude that government
subsidies to education only enhance economic growth conditional on unemployment and that this relationship is negatively influenced
by unemployment. We provide evidence from a broad panel data of countries that confirms the importance of unemployment in
the relationship between subsidies to education and economic growth but dismiss its importance as a direct determinant of
economic growth.
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3.
《Journal of economic behavior & organization》2012,83(2-3):352-367
Emergence is a unifying theme of both evolutionary economics and complex systems theory. In spite of this centrality, emergence in economics has not been subject to an extensive critical analysis. This paper remedies this deficit. We identify several conditions that economic patterns (i.e. rule-systems, structures) must satisfy to qualify as emergent: (1) material realization (emergent patterns are realized in physical structures and processes); (2) coherence (pattern is not a mere aggregate but a systemic whole); (3) non-distributivity (pattern possesses global properties absent from its parts); (4) structure dependence (systemic properties depend upon connective structure). These four core features are common to all forms of emergence in economics. Evolutionary economic systems also exhibit extra-strength versions of emergence, which require that patterns possess one or more additional features: (5) genuine novelty; (6) unpredictability in principle; and (7) irreducibility. We introduce three basic forms of emergence that occur in economic systems—minimal, diachronic and synchronic emergence—and apply these ideas to capital formation at all levels of economic order. The economy-wide capital structure exhibits strongly emergent properties (both diachronic and synchronic) that depend on its structural and functional organization; it is not a mere aggregate of capital goods. Within the realm of capital phenomena, we also compare the distinguishing characteristics of emergent and spontaneous (self-organizing) orders. We provide a case study of the iPhone as an emergent capital pattern to illustrate conditions (1)–(7) above and the different types of emergence. 相似文献
4.
Using time-series cross-section analysis, we provide additional empirical validation for the principal-agent model developed
by Adserà et al. (2003). In our innovation, efficient economic policy is proxied by “economic freedom” from the Fraser Institute
database and constitutional “political institutions” are proxied by variables from the Database of Political Institutions.
Our results suggest that the more credible the threat of removal from office, the more government officials will pursue efficient
economic policies.
The authors are grateful to Alan Hamlin and an anonymous referee for their highly valuable input to the development of this
paper.
Tel.: +1-604-291-4167 相似文献
5.
From simplistic to complex systems in economics 总被引:4,自引:0,他引:4
The applicability of complex systems theory in economics isevaluated and compared with standard approaches to economictheorising based upon constrained optimisation. A complex systemis defined in the economic context and differentiated from complexsystems in physio-chemical and biological settings. It is explainedwhy it is necessary to approach economic analysis from a network,rather than a production and utility function perspective, whenwe are dealing with complex systems. It is argued that muchof heterodox thought, particularly in neo-Schumpeterian andneo-Austrian evolutionary economics, can be placed within acomplex systems perspective upon the economy. The challengeis to replace prevailing simplistic theories,based in constrained optimisation, with simpletheories, derived from network representations in which valueis created through the establishment of new connections betweenelements. 相似文献
6.
Invasions by non-indigenous plant species pose serious economic threats to Australian agricultural industries. When a new
invader is identified a rapid response is critical, particularly if the invasive species has the ability to spread rapidly.
An early decision is required whether to attempt to eradicate or contain the infestation, or do nothing and leave it to landholders
to manage. These decisions should be based on economic considerations that account for long term benefits and costs. This
paper describes a bioeconomic simulation framework with a mathematical model representing weed spread linked to a dynamic
programming model to provide a means of determining the economically optimal weed management strategies over time, from the
government’s perspective. The modelling framework is used to evaluate hypothetical case study invasive weed control scenarios
in the Australian cropping systems. The benefit–cost ratios of invasion control are shown to be generally very high and clearly,
there are significant benefits to be achieved by controlling highly invasive weeds when initial infestations are at a low
level. Even if the invasion cannot be eradicated due to its high invasiveness or budget constraints, it still pays to maintain
invasions at low levels. 相似文献
7.
The paper ‘bridges the divide’ between the biological and economic literature on marine reserves. It provides a selected review
of the traditional use of reserves, the early reserve literature, the potential benefits of reserves, spillovers from reserves
to harvested areas and bioeconomic models of marine reserves. The bioeconomics literature is examined from the perspectives
of deterministic models, spatial economic models and models that include uncertainty and stochasticity. Insights from the
review are used to provide management implications in terms of reserve design, stakeholder cooperation and process, reserve-fishery
transfers, traditional management controls, and ecosystem approaches to managing fisheries. 相似文献
8.
Evolutionary macroeconomics: a research agenda 总被引:2,自引:1,他引:1
John Foster 《Journal of Evolutionary Economics》2011,21(1):5-28
In this article, the goal is to offer a new research agenda for evolutionary macroeconomics. The article commences with a
broad review of the main ideas in the history of thought concerning the determinants of economic growth and an introduction
to the evolutionary perspective. This is followed by a selective review of recent evolutionary approaches to macroeconomics.
These approaches are found to be somewhat disconnected. It is argued that the ‘micro-meso-macro’ approach to economic evolution
is capable of resolving this problem by offering an analytical framework in which macroeconomics can be built upon ‘meso-foundations’,
not micro-foundations, as asserted in the mainstream. It is also stressed that the economic system and its components are
complex adaptive systems and that this complexity must not be assumed away through the imposition of simplistic assumptions
made for analytical convenience. It is explained that complex economic systems are, at base, energetic in character but differ
from biological complex systems in the way that they collect, store and apply knowledge. It is argued that a focus upon stocks
and flows of energy and knowledge in complex economic systems can yield an appropriate analytical framework for macroeconomics.
It is explained how such a framework can be connected with key insights of both Schumpeter and Keynes that have been eliminated
in modern macroeconomics. A macroeconomic framework that cannot be operationalized empirically is of limited usefulness so,
in the last part of the article, an appropriate methodology for evolutionary macroeconomics is discussed. 相似文献
9.
This paper introduces the idea of “robust political economy.” In the context of political economic systems, “robustness” refers
to a political economic arrangement's ability to produce social welfare-enhancing outcomes in the face of deviations from
ideal assumptions about individuals' motivations and information. Since standard assumptions about complete and perfect information,
instantaneous market adjustment, perfect agent rationality, political actor benevolence, etc., rarely, if ever actually hold,
a realistic picture and accurate assessment of the desirability of alternative political economic systems requires an analysis
of alternative systems' robustness. The Mises-Hayek critique of socialism forms the foundation for investigations of robustness
that relax ideal informational assumptions. The Buchanan-Tullock public choice approach complements this foundation in forming
the basis for investigations of robustness that relax ideal motivational assumptions.
JEL Code B53, P16, P26 相似文献
10.
John Marangos 《Forum for Social Economics》2011,40(1):119-137
The “transition” process in Eastern Europe and the former Soviet Union (EEFSU) was one of the most dramatic non-marginal adjustments
in economic systems ever experienced. During the transition process, elements of centrally administered socialism and embryonic
market relations co-existed. This made traditional economic theory irrelevant. The purpose of this paper is to discover policy
concerns and outcomes that orthodox “transition” literature ignores. Stanfield’s contribution to the economic literature,
a cultural-holistic approach of radical institutionalism, makes it possible to understand the “transition” process from a
new and more enlightened perspective. Stanfield provides a better understanding of the complexities involved, since the nature
of change in the EEFSU is social and ever-lasting, not an end-state in the form of “transition”. Students of transition and
of international development would benefit from this novel approach, which dismisses “transition” and substitutes “social
change”, as the proper designation and manifestation of what actually took place in EEFSU. 相似文献
11.
Manuel Oechslin 《Journal of Economic Growth》2009,14(4):313-344
This paper analyzes the impact of weak contracting institutions on economic development and the wealth distribution in a Ramsey-type
growth model. We show that, at low levels of accumulation, weak contracting institutions strongly favor the economic elite:
By preventing market entry, such institutions provide the “oligarchs” with cheap access to credit—which is highly beneficial
as long as capital is scarce. At the same time, a broad cross-section of society faces only low returns so that capital accumulation
is slowed down and the capital stock gets concentrated in the hands of the elite. At higher levels of development, however,
weak contracting institutions are harmful to all segments of society and institutional reform becomes unanimously supported.
So the model helps to explain the pervasiveness of weak contracting institutions in less-advanced economies. 相似文献
12.
Graziella Bertocchi 《Journal of Economic Growth》2006,11(1):43-70
We study the connection between inheritance systems and the historical evolution of the relationship between a society’s economic
structure and its political system, with a focus on Europe from feudal times. The model predicts that, in an early agrarian
phase, aristocratic political systems prevail, while democracies tend to emerge with industrialization. At the same time,
as indivisible landed estates are replaced by capital as the primary source of wealth, the inheritance system evolves endogenously
from primogeniture to partition. The dynamics of output, distribution, class structure and political participation are in
turn reinforced by the system of intergenerational wealth transmission, with primogeniture tending to concentration and partition
to equalization.
“But the law of inheritance was the last step to equality.”
Alexis de Tocqueville, Democracy in America (1835). 相似文献
13.
OLS and GWR Approaches to Agricultural Convergence in the EU-15 总被引:2,自引:0,他引:2
Maria Sassi 《International Advances in Economic Research》2010,16(1):96-108
14.
This article examines how the birth and the development of regional systems of innovation are connected with economic selection
and points to implications for regional-level policies. The research questions are explored using an evolutionary model, which
emphasizes geographical spaces and production of intermediate goods. In particular, we are concerned with how cooperative
behaviour of technology producers is affected by the need to protect technological secrecies and of being financially constrained
by firms demanding innovative input. Based on the theoretical model, we provide an analysis using computer simulations. The
primary findings are, first, that the model generates predictions suited for empirical research as to the way in which economic
selection influences cooperative behavior of innovative actors. Second, we demonstrate how a region’s entrepreneurial activity
and growth can be controlled in a decentralized way by regions. 相似文献
15.
Ugo Fratesi 《Journal of Evolutionary Economics》2010,20(4):515-552
This paper combines the various strands of literature on knowledge and innovation as drivers of regional growth in an evolutionary
model, representing the internal dynamics of a regional system focusing on Arthurian dynamic increasing returns to scale.
The model shows how different evolutionary patterns can arise starting from identical local systems, and that the effects
of policies are different depending on the state of the system. Simulation evolutionary economic geography models also allow
to represent the complexity of spatial economic development without radically simplifying it and to formalize concepts which
are otherwise only expressed—by economic geographers—as logical arguments. 相似文献
16.
Roberto Tamborini 《Journal of Evolutionary Economics》1997,7(1):49-72
The knowledge of human knowledge claims a place of its own in economics. Beyond the walls of our discipline, spectacular
progress is taking place in the field of empirical research into human knowledge -the so-called “cognitive sciences”. In the
light of such advances, the old and new classicals' axiom that nothing scientific can be said beyond the axioms of substantive
rationality now looks very much like the protective belt of a degenerating programme. On the other hand, criticisms and alternative
programmes will hardly be effective so long as their arguments are purely negative or are drawn from armchair introspection.
In the present study I wish to outline a pattern of human knowledge emerging from cognitive research that may be called “constructivist”,
and to point out the restrictions it sets on economic analysis. It is also my argument that such a pattern is consistent with
the present non- or post-Walrasian trends in economic theory, and that it may provide them with firmer cognitive foundations. 相似文献
17.
This study presents the nonlinear relationship that exists between financial development and economic growth. This study applies
the flexible nonlinear regression model of Hamilton (Econometrica 69(3):537–573, 2001) because it imposes no specification
restrictions. Two empirical results are obtained. First, an inverted U-shaped relation between banking sector development
and economic growth is identified. Namely, the two variables are positively linked before the turning point, but negatively
linked after it. Second, a positive relationship with asymmetric √-shape between stock market development and economic growth
is found. 相似文献
18.
19.
We consider the microfoundations controversy from the perspectiveof economic evolution. Although the analogy between biologyand economics has been noted before, it has rarely focused onclarifying the micromacro distinction in economic theoryand modelling. The micromacro debate is more developedin biology than in economics owing to a greater degree of specialisationand a greater degree of interaction between various sub-disciplines.The task for economists is to distinguish between insights directlyrelevant for economic theory and ones that hinge on unique featuresof biological systems. We argue that both micro and macro processesdrive economic change and that macroeconomic change cannot beexplained by microlevel optimising alone. We show that debatesin biology about group selection and punctuated equilibria arerelevant to understanding economic evolution. The oppositionof reductionism and holism is of little use and, in its place,a hierarchical approach is proposed. This allows for both upwardand downward causation and interaction between levels. 相似文献
20.
The Economics of Non-Convex Ecosystems: Introduction 总被引:5,自引:2,他引:5
The word “convexity” is ubiquitous in economics, but absent fromeconomics. In this paper we explain why, and show what differenceit
makes to economic analysis if ecosystem non-convexities aretaken seriously. A simple proof is provided of the connectionbetween
“self-similarity” and “power laws”. We also provide anintroduction to each of the papers in the Symposium and draw outthe
way in which they form a linked set of contributions. 相似文献