Simon Kuipers: An Economist in Search of Rigour and Relevance

At the end of 1997 and after twenty-five years of duty, Professor Simon Kuipers retired as managing editor of De Economist. As a token of indebtedness and gratitude, this article reviews Kuipers' written work. The article focuses on two topics that dominate Kuipers' endeavours. First, his contributions to macroeconomic theory, with particular emphasis on his (neo-)Keynesian approach are examined. Second, Kuipers' contributions to actual monetary and economic policy are discussed, emphasis being placed on his empirical work.     

Demand and supply as factors determining economic growth

Summary In models of economic growth the long-run rate of growth is usually determined by exogenous factors like the increase in working population and technical progress. In this article the rate of technical progress is treated as an endogenous variable depending on the increase in real wages and the degree of capacity utilization. A clay-clay production model is presented. Moreover, consumption, investment, changes in wages and in prices are explained by additional equations. Numerical steady state solutions for different values of the parameters are discussed. In each case the specific role played by demand and supply is stressed.The authors are Professor of Economics and Assistant Professor of Economics, University of Tilburg, The Netherlands. They are indebted to Professor S. K. Kuipers for valuable comments on an earlier version of the article.     

Theo van de Klundert: A frontier economist

Summary Twenty-five years ago, Dr. Theo van de Klundert was appointed as Professor of Economics at Tillburg University. On the occassion of this jubilee the authors review Van de Klundert's contribution to the study of economic science in the The Netherlands. The article focuses on four topics: (1) growth and income distribution, (2) capital theory, resource economics and trade, (3) controversies between Keynesians and (4) open economy macroeconomics. A short remark is made about his teaching. Van de Klundert is praised for the quality and the comprehension of his scientific work.The authors are grateful to S.K. Kuipers and M. Peeters for their useful comments on an earlier draft of this paper.     

Negishi's contributions to the development of economic analysis: Research programs and outcomes

This paper surveys Negishi's significant contributions to economics and the research programs they have generated. In a series of papers and books, Negishi developed a number of models and methods of analysis that changed the course of modern economics and catalyzed research in areas that range from welfare and theoretical to applied and computable general equilibrium analysis, and the extension of imperfect competition to general equilibrium. trade theory and international economics. This paper shows that the Negishian research programs that emanated from his works are progressive, and still have an ongoing impact on mainstream economic analysis decades after their publication.     

Kinky perceived demand curves and Keynes–Negishi equilibria

The label "Keynes–Negishi equilibria" is attached here to equilibria in a monetary economy with imperfectly competitive product and labor markets where business firms and labor unions hold demand perceptions with kinks: as posited in Negishi's 1979 book Microeconomic Foundations of Keynesian Macroeconomics . Such equilibria are defined in a general equilibrium model, and shown to exist. Methodological implications are briefly discussed in a concluding section.     

循环经济可行性的探讨

由于自然资源和能源的特性,决定了人类社会不能无节制地开采。因此,如何有效利用现有资源,如何保持经济可持续发展等重大严峻课题摆在了我们面前。在党的十六届三中、五中全会上,党从宏观层面上提出了可持续发展的战略部署以及建设性的口号"科学发展观"。本文响应这一宏观政策,并从微观层次上通过对理论和流程的分析具体探讨了经济实现可持续循环运行的可行性,并在此基础上提出一些可行性的理论和对策。     

多视角下的品牌资产概念述评

品牌资产概念的运用一直就是品牌管理领域一个十分头疼的问题，每个学者从自己的角度突出自己的看法。面对各种各样的品牌资产定义，造成了我们研究品牌资产的疑惑。文章在大量文献回顾的基础上．通过比较整理，从财务角度、市场角度、消费者角度和综合角度四个方面对品牌资产的概念进行了全面的总结和梳理，为我们从事品牌方面的研究理清了思路。     

Latin America and the Great War: A preliminary survey of developments in Chile,Peru, Argentina and Brazil

In this paper we present some preliminary ideas on a comparative study of the economic and social effects of World War I on Latin America. We argue that this issue has generally been conceived too narrowly, and that the events of the war years have much to tell us about the nature of capitalist development in the region. We begin by outlining some of the major external factors which influenced the course of economic change in the years before 1914. The initial impact of the war is then considered, particularly with regard to finance, trade and social dislocation. Finally, we briefly examine similar topics during the remaining war years. We conclude by arguing that the war did not provide an opportunity to alter the course of economic growth, but tended to highlight the weaknesses and magnify the contradictions of Latin America's brand of capitalist development.     

A demand and supply model of economic growth

Summary A demand and supply model of economic growth has been developed. By means of this model a number of characteristics of the growth process have been investigated. Special attention has been given to the causes and consequences of growth disequilibria and the determinants of income distribution.The analysis leads to the conclusion that three growth situations must be distinguished: output is restricted by effective demand, by effective supply, and by the size of the labour force. The causes of growth disequilibria and the determinants of income distribution differ in each of these three cases. In this respect the model is more general than traditional post-keynesian, neo-keynesian and neo-classical growth models.The author is indebted to Professor Frits J. de Jong for his non-desisting support during the preparation of this paper. He is grateful to Mrs. Gerda H. de Jong of Veendam, The Netherlands, and to Dr. James H. Gapinski, Assistant Professor, Florida State University, Tallahassee, Florida for kindly improving the English of this article.In many respects this article draws heavily upon my doctoral dissertation:De betekenis van vraag- en aanbodfactoren in groeimodellen met één sector, mimeographed, Groningen, 1970.     

开放经济对我国就业的影响测算

新世纪我国对外开放的程度越来越大,我国收到的国际赞誉与日俱增,毫无疑问我国经济对国际经济的依赖性不断提高,同时国际经济对我国的依赖也不断加深。我国是一个人口大国,国际经济对我国的影响应首推就业。通过关于国际经济对我国经济的影响测算,我们得出结论,我国应不断加大对外开放力度,增加我国就业,特别是国际经济与劳务合作,但对于外资的引进则更要突出就业效应。同时为了经济就业安全我国应通过一定措施促进我国与国际经济的依赖性相互加深而不是单向加深。     

On the difference between the keynesian,knightian and the ‘classical’ analysis of uncertainty and the development of a more general monetary theory

Summary In this article it is shown that Keynes concept of uncertainty is not identical with that of Knight, as is often argued. The identification of Keynesian with Knightian uncertainty has contributed to the neglect of an aspect of Keynesian uncertainty that is important in understanding the functioning of a monetary economy. Therefore, it is concluded that monetary theory can benefit from the development of an analytical apparatus that incorporates all aspects of Keynesian uncertainty.I am indebted to Mr. J. de Haan, Professor J.A. Kregel, Professor S.K. Kuipers, Professor J. Pen, Dr. J. Snippe and Mr. A. van Witteloostuijn for their comments on an earlier version of this paper. It goes without saying that they cannot be blamed for any remaining errors.     

The (UN)importance of public debt: A review essay

Summary In this article the debate on the consequences of the creation and existence of government debt is reviewed, using two recent books as a guideline. Four issues in particular are discussed: the correct definition and measurement of government debt, the discussion on the (in)effectiveness of fiscal policy, the inflationary consequences of public debt and finally the influence of government deficits on financial markets. It follows from our review of the debate that there exists as yet no consensus among economists on these issues.The author would like to thank Professor S.K. Kuipers, Professor J. Pen, Dr. C.G.M. Sterks and Professor J. Weitenberg for their comments on an earlier version of this paper.     

Jelle Zilstra: A versatile economist

Summary In 1983 Dr. Jelle Zijlstra was a member of the board of editors ofDe Economist for 35 years. At the request of his co-editors, this article has been written to put in a clear light the person and work of Dr. Zijlstra. Zijlstra has been a professor of economics, a minister of economic affairs and of finance in several Dutch cabinets, and, from 1967–1981, President of the Netherlands Bank. During these activities he has made important contributions to economic theory and economic policy, both in legislative work and in various publications. In this article his valuable contributions in such different fields as economic competition, economic order, public finance, monetary theory and central banking policy are analyzed. The author comes to the conclusion that Dr. Zijlstra is an original thinker, who has been a stimulating and inspiring contributor to the different fields of economic theory and economic policy in which he has been active. The author thanks Professor P. Hennipman and Professor S. K. Kuipers for their valuable suggestions.     

我国发展服务外包业的现状分析及应对策略

目前,跨国公司正在向世界各地特别是亚洲进行服务业的转移,这给我国企业的发展带来了极好的机遇.面对这一机遇,我们如何能做到依据科学的发展观来促进我国服务外包业的发展呢?本文旨在通过对我国服务外包业的发展现状进行综合分析,从宏观角度提出应对策略.     

日美经济摩擦的"小宫理论"及其启示

第二次世界大战以来,随着日本经济实力的提高,日美之间出现严重的经济摩擦问题。小宫隆太郎教授一直关注这一问题,并对这一问题进行了理论分析。小宫教授的理论与方法对于我们正确地认识中国涉外经济贸易摩擦具有重要的意义。     

Observations on technical change and paretian welfare economics

Summary This article brings together two major topics of economic theory: technical change and Paretian welfare economics. Until now, the tendency has been to study these topics separately. By introducing economic search behaviour in the first phase of technical change, the analysis of technical change is broadened by means of a link between this behaviour and so-called virtual goods. The concept of Pareto optimality is broadened by expanding the space of goods with new and virtual goods. The question is whether the generalized Paretian theory makes it possible to compareex post equilibria after the process of technical change with theex post situation before this process takes place. Although generalized Pareto optimality does not allow a welfare judgement on aprocess of technical change, the theory still provides us with an explanation for the allocation of resources of R&D in terms of consumer preferences and with an analytical device to compare actual economic structures with a generalized Pareto optimum in a static setting.If they (i.e. economists) are to perform their guiding task as conscientiously as possible, it is first necessary that they themselves have proper insight into the regrettably narrow limits of what economics has to offer to politics in terms of purely economic criteria; secondly, that they are aware of the foundations and the substance of their additional sociopolitical valuations and finally, that they do not fail to make these known when advising society. (Hennipman, 1995, p. 174).This article is a condensed revised version of my Prof. dr Pieter Hennipman Lecture of February 23, 1993. Some time after the presentation of the lecture, I had the opportunity to discuss several issues with my beloved teacher. No doubt this version benefited from his comments. 1 A notable exception is K.J. Arrow (1962, pp. 210–228).     

Recollections of My Career

Editorial Note:Professor Sumitro Djojohadilcusomo is one of the principal architects of Indonesia's post-independence economic policy. He has held key economic portfolios in both the immediate post-independence era and in the New Order. In addition, as Professor of Economics at the University of Indonesia, and as a tireless lecturer and writer on economic issues, he has been instrumental in shaping the education of several generations of economics students in Indonesia, many of whom are now in key government positions. At the end of August, Professor Sumitro generously agreed to be interviewed on his long career by two members of the BIES editorial board, Anne Booth and Thee Kian Wie. In preparing this interview for publication, the editors have tried to preserve Professor Sumilro's own words to the greatest extent possible; his lucid and entertaining remarks are thus reproduced with a minimum of editing. The interview began with a question to Professor Sumitro about his early training in economies.     

The interest function approach

Summary This article reviews Frans van Winden's Ph.D. dissertation,On the Interaction between State and Private Sector: A Study in Political Economics, State University Leyden, 1981, viii+319 pages. The proclaimed objective of the book is to present a nonnormative, theoretical analysis of the interaction between state and private sector in a capitalist economy. Review of the analysis leads us to conclude that the objective is not met. I would like to thank Jean Paelinck and Rick van der Ploeg for their suggestions, and also Bernard van Praag for his apparent interest in the matter. I am particularly indebted to Professor F.A.A.M. van Winden who kindly provided extensive comments on the first draft of this review. Sloan Foundation and Netherlands Organization for the Advancement of Pure Research (Z.W.O.) grants through New York and Erasmus Universities, respectively, are gratefully acknowledged.     

Prediction of the Netherlands' money stock

Summary This article describes the operational procedure for a mechanical monthly forecast of the money stock in The Netherlands for up to twelve months ahead. In addition to time series data of the money stock itself, the procedure uses the information provided by the disaggregation of the money stock into financial assets, sources of money supply and holdership. The forecast from a univariate ARIMA model of the money stock is combined with three different forecasts from vector ARIMA models for the components distinguished by the three ways of disaggregation. The combination weights, which differ for each number of months to be forecasted ahead, are determined by regression analysis.Professor of Economics at the Free University, Amsterdam and staff member of the Econometric Research and Special Studies Department of De Nederlandsche Bank NV, Amsterdam, respectively. This study was completed when the first author was at the Nederlandsche Bank. We gratefully acknowledge the useful comments of a referee on a previous version of this article.     

The banks and the financing of industry in Sweden,c. 1900–1927

Abstract

In the recently published third volume of Fagerstabrukens Historic, Professor E. F. Söderlund has given a detailed and penetrating account of the formation in 1927 of the Fagersta concern, resulting from the amalgamation of five leading Swedish iron works. ¹ Cf. Professor B. Boëthius' article above. pp. 174. His analysis offers a most useful background for a discussion of certain general problems of industrial finance and ownership, and of banking, in Sweden during the First World War and the 1920s. To provide such a discussion is the purpose of this article, and to that end it will be necessary to summarise Professor Söderlund's narrative. As, however, the story is in all essential respects the same for each of the works, a brief resume of the main facts in the history of one of them, Fagersta Bruk, will suffice.