Menger, Jevons, and Walras Un-homogenized, De-homogenized, and Homogenized: A Comment on Peart

Abstract . Response to Sandra J, Peart, “Jevons and Menger Re-homogenized?: Jaffé After 20 Years,” 1998. The American Journal of Economics and Sociology 57(July): 307-325.     

Science,technology, innovation,theory and evidence: the new institutionality in Colombia

Quality & Quantity - It is widely recognized that the design and application of suitable and robust science, technology and innovation (STI) policies and appropriate STI institutions promote...     

Innovation,finance, and economic growth: an agent-based approach

This paper extends the endogenous growth agent-based model in Fagiolo and Dosi (Struct Change Econ Dyn 14(3):237–273, 2003) to study the finance–growth nexus. We explore industries where firms produce a homogeneous good using existing technologies, perform R&D activities to introduce new techniques, and imitate the most productive practices. Unlike the original model, we assume that both exploration and imitation require resources provided by banks, which pool agent savings and finance new projects via loans. We find that banking activity has a positive impact on growth. However, excessive financialization can hamper growth. Indeed, we find a significant and robust inverted U-shaped relation between financial depth and growth. Overall, our results stress the fundamental (and still poorly understood) role played by innovation in the finance–growth nexus.

     

Strategy-proofness, core, and sequential trade

We extend the Shapley-Scarf (1974) model - where a finite number of indivisible objects is to be allocated among a finite number of individuals - to the case where the primary endowment set of an individual may contain none, one, or several objects and where property rights may be transferred (objects inherited) as the allocation process unfolds, under the retained assumption that an individual consumes at most one object. In this environment we analyze the core of the economy and characterize the set of strategy-proof and Pareto efficient mechanisms. As an alternative approach, we consider property rights implicitly defined by a strategy-proof and Pareto efficient mechanism and show a core property for the mechanism-induced endowment rule.Received: 19 February 2004, Accepted: 14 April 2005, JEL Classification: C71, C78, D71, D78We would like to thank two anonymous referees for valuable comments. Financial support from The Swedish Council for Research in the Humanities and Social Sciences is gratefully acknowledged by Lars-Gunnar Svensson. Financial support from The Jan Wallander and Tom Hedelius Foundation is gratefully acknowledged by Bo Larsson.     

Estimable intra-age,intra-period,and intra-cohort effects in age-period-cohort multiple classification models

Quality & Quantity - Even if a researcher found a constraint that correctly identified an age-period-cohort multiple classification (APCMC) model, the results would not address the issue of how...     

ICT labor,software usage,and productivity: firm-level evidence from Turkey

Journal of Productivity Analysis - This paper examines the impact of information and communication technology (ICT) on firm-level productivity in Turkey using a novel longitudinal data set. We...     

Bringing archaeology into the information age: entropy,noise, channel capacity,and information potential in archaeological significance assessments

Quality & Quantity - Most archaeology today is conducted by private cultural resources management (CRM) firms in compliance with preservation legislation. Industry archaeologists make decisions...     

What drives the growth of academic spin-offs? Matching academics,universities, and non-research organizations

International Entrepreneurship and Management Journal - This paper aims to contribute to the on-going debate on the factors that affect the growth of academic spin-off firms (ASOs) in the...     

Sustainability,welfare and efficiency of nations

Quality & Quantity - Adjusted net saving (ANS) has emerged as a leading indicator of sustainability. In addition, changes in ANS translate into changes in welfare (Hamilton in World Bank Econ...     

Different algorithms,different models

Quality & Quantity - This study assesses the extent to which the two main Configurational Comparative Methods (CCMs), i.e. Qualitative Comparative Analysis (QCA) and...     

Economic growth, size of the agricultural sector, and urbanization in Africa

This paper uses variations in international commodity prices and rainfall to construct instrumental variables estimates of the within-country effect that changes in the size of the agricultural sector and GDP per capita growth have on the urbanization rate. For a panel of 41 African countries during the period 1960-2007, the paper’s three main findings are that: (i) decreases in the share of agricultural value added lead to a significant increase in the urbanization rate; (ii) conditional on changes in the share of agricultural value added GDP per capita growth does not significantly affect the urbanization rate; (iii) increases in the urbanization rate had a significant negative average effect on GDP per capita growth.     

Jevons, and Mender Re-homogenized, Jaffé 20 Years: A Comment on Peart

Abstract . Response to Sandra J. Peart, “Jevons and Menger Re-homogenized?: Jaffé After 20 Years,” 1998. The American Journal of Economics and Sociology 57(July): 307-325.     

The baby boom, the baby bust, and the housing market A second look

I re-examine Mankiw-Weil's (MW) claim that house prices will fall 47% by 2007. MW argue that the arrival of the Baby Boom generation at adulthood drove up prices during the 1970s. When the beginnings of the Baby Bust generation matured in the 1980s, prices softened. When this generation arrives in earnest, prices will collapse. I make three points: (1) The regression upon which MW hang their prediction has an implausible -8.1% trend, which drives their prediction. (2) Demand directly influences the rental price; the asset price (MW's variable) is influenced by demand only indirectly. I re-run MW's regression, replacing the asset price with the rental price, and their prediction disappears. (3) Relying on data presented by MW, I show that housing consumption rose during the 1970s, after adjusting for income growth. Just when MW say the asset price of housing was rising, consumers behaved as if the price were falling. Consumers were right: The rental price fell by approximately 20% during the 1970s.     

福建省永定县孔夫预测区煤炭资源潜力分析

文章通过对福建省永定县孔夫预测区区域构造及邻区含煤情况资料分析,结合本区的地质构造特点,推断本区的赋存有一定的煤炭资源储量,含煤地层为童子岩组第三段的中亚段(P1t3-2)和下亚段(P1t3-1),可采煤层为18、20、28、29等4层,煤炭资源总量可突破千万吨,该预测区可作为今后煤炭勘查后备基地。     

The impact of entrepreneurship on economic,social and environmental welfare and its determinants: a systematic review

Management Review Quarterly - This paper presents a systematic review of (a) the impact of entrepreneurship on economic, social and environmental welfare and (b) the factors determining this...     

Training trends: Macro,micro, and policy issues

The scope of the training enterprise is vast, the field is dynamic, and multi-level issues confront training researchers. After identifying three “mega trends” – globalization, technology, and demographic changes - this paper reviews training trends at the macro level, the micro level, and emerging policy issues and links each one to the mega trends. The macro-level trends - increasing demands for personal and professional development by job seekers and employees, the effects of digital technology on work, structural changes in labor markets, increasing training opportunities for non-standard workers, and training as an important aspect of an employer's brand - reflect broad trends in the economy. Micro-level trends - better understanding of requirements for effective learning; use of short, digital lessons; and options for optimizing learning and preventing skill and knowledge decay - each focus on improving the quality of training. Policy issues - training needs in small and medium-sized enterprises, the need for “middle skills”, and vocational education - raise vexing issues for all stakeholders. Together, macro, micro, and policy issues reflect ongoing challenges for researchers, practitioners, and policy makers everywhere.     

Unconventional incentive schemes in tourism enterprises,does it make sense?

Quality & Quantity - The purpose of this article is to describe the model of the most important employee financial participation (EFP) programs and give some proposals aiming at wider promotion...     

Integrating big data and marketing concepts into tourism,hospitality operations and strategy development

Quality & Quantity - Big data (BD) research articles are on new issues, this study sought to fill the knowledge gap of linkage the relationships between big data and marketing strategy with...     

Drivers,barriers and success factors of academic spin-offs: a systematic literature review

Management Review Quarterly - The considerable economic contribution of academic spin-offs (ASOs) has drawn numerous scholars’ attention to explore the factors that influence their...