Testing the Bhaduri–Marglin model with OECD panel data

The Bhaduri–Marglin model is a post-Kaleckian model that allows one to study the impact of a functional income distribution on the growth in demand. Over recent years, a number of empirical studies based on this model have aimed at determining whether a redistribution towards profits harms or fosters demand growth. The focus so far has been on a very limited number of countries. This paper is the first to test the Bhaduri–Marglin model with panel data. It finds that demand growth is reduced by a redistribution towards profits in the average OECD country. Productivity growth is also impaired.     

The political economy of agriculture for development today: the “small versus large” scale debate revisited

The role of agriculture in economic development and the development politics of promoting smallholder versus large‐scale agriculture have both been at the center of a long‐lasting and controversial debate. Using an innovative methodology which combines a value chain approach with input‐output‐analysis, the growth multipliers and productivity of both farm types in Guatemala are analyzed. Results show that smallholder agriculture has the same potential to stimulate output growth as large‐scale agriculture. Smallholder value chains include mainly informal sectors and create more jobs than commercial agriculture. Therefore, a reorientation of agricultural and land policies toward small‐scale food producers and within a comprehensive policy of integrated rural development is not only necessary in terms of social equity but also for boosting economic development.     

Entrepreneurial Spawning: Experience,Education, and Exit

We investigate the career dynamics of high‐tech entrepreneurs by analyzing the exit choice of entrepreneurs: to act as a business angel, to found another firm, or to become dependently employed. Our detailed data from CrunchBase indicate that founders are more likely to stick with entrepreneurship as a serial entrepreneur or as an angel investor in cases where the founder had prior experience either in founding other startups or working for a startup, or had a “jack‐of‐all‐trades” education.     

The international oil industry in the 1980s

Few industries have undergone such rapid changes during the last ten years as the international oil industry. During this decade, there have been radical changes in the conditions under which international oil companies acquire and trade crude oil. In addition to the changes in the upstream sector the two quantum jumps in oil prices have drastically altered the conditions of downstream operations. Since 1979 oil demand fell more sharply than total energy demand, thereby reducing its relative importance in the energy economy. These events initiated a far-reaching adjustment process which is likely to continue.     

Der direkte internationale Preiszusammenhang

Ohne Zusammenfassung     

Manipulierte Schadenfälle als Herausforderung für die Praxis

Der Versicherungsbetrug hat insbesondere in den letzten Jahren stark zugenommen. In diesem Artikel werden Abwehrstrategien und Erfolgsfaktoren der Betrugsabwehr eines Versicherungsunternehmens beispielhaft dargestellt. Mit Hilfe der vorgestellten Vorgehensweisen wird sowohl dem Eigenschutz des Versicherungsunternehmens als auch dem Schutz der Versicherungsgemeinschaft Rechnung getragen.     

Can the international debt strategy use the concept of corporate compositions?

So far, it has been possible to stave off really serious consequences for the world economy and the international financial system since the developing-country debt crisis started in 1982. Yet for many developing countries, external debt problems and the underlying economic crisis are as pressing as ever. The following article identifies five central elements of a general orientation framework for dealing with the debt crisis which has been inspired by the basic idea of the concept of corporate compositions found in commercial law.     

Technological Creativity and Cheap Labour? Explaining the Growing International Competitiveness of German Mechanical Engineering before World War I

Abstract. Which factors caused the growing international competitiveness of German mechanical engineering industry in the pre‐World War I period? In this paper, we want to address this question and elucidate whether or not the international market success of machine builders in the German Empire was determined by technological creativity and the availability of a comparatively cheap labour force. Based on an unbalanced panel, we therefore investigate the influence of demand, labour costs and technological creativity on export performance of 32 different machinery types. We find robust evidence that the development of export–import ratios in mechanical engineering was positively influenced by the growth of patent stocks that represent the new knowledge being available for German machine builders. In addition, we present some evidence for the assumption that the growing international competitiveness of German mechanical engineering was also caused by decreasing relative unit labour cost.     

Sustainable management of extensively managed savanna rangelands

Classic rangeland theory advocates stocking rangelands at relatively low and constant levels. This theory has been labelled inappropriate for savanna rangelands, because savannas are strongly influenced by stochastic processes. Opportunistic strategies that force animal numbers to track available forage have been proposed as an alternative management paradigm. However, no studies have examined whether these opportunistic strategies are sustainable or optimal. We developed a simulation model of a savanna rangeland to identify optimal, sustainable strategies for the management of extensive rangelands. We optimised the utility of agents who are motivated by economic, production or ecological factors under both deterministic and stochastic conditions. In all cases we found that it was optimal to manage the system conservatively and not opportunistically. Moreover, it was optimal to manage more conservatively under stochastic conditions. Key elements of the conservative strategy were to stock at low levels and to use fire to control tree abundance and thereby maintain the system in a grass dominated state. We conclude that opportunistic strategies of range management although intuitively appealing are not optimal.