1,721,233 research outputs found
Introduction
No full textThe title of the book is in fact very revealing. It intends to cover recent political economy developments in Brazil by concentrating on its recent economic performance. The period we intend to cover in the following 11 chapters in this volume focuses crucially on the first period in office of President Luiz Inâcio Lula da Silva, that is, 2002, when he was elected, to October 2006, when the election took place in Brazil and the President was re-elected. It is therefore very fitting to begin the volume with a chapter that attempts to discuss how Brazil came about accepting and embracing the political economy dimension of President Lula
Book Review: Political Economy of Latin America: Recent Economic Performance
No full text Arestis, Philip and Sawyer, Malcolm (eds.). 2007. Political Economy of Latin America: Recent Economic Performance. Palgrave MacMillan, Houndsmills, United Kingdom. </jats:p
An evaluation of macroeconomic policies in Greece within an optimal control theory framework
Get PDFThis study evaluates the effectiveness of fiscal (and monetary) policies on a set of macroeconomic objectives, giving explicit consideration to the alternative modes by which the budget deficits (or surpluses) are financed. The extent to which quantitative reductions in the share of the public sector is compatible with these objectives is also examined. The evaluation of optimal macroeconomic policies is undertaken in the context of the Greek economy, since the financial aspects of the budget have not received the necessary attention. The method of analysis is carried out within an optimization framework which employes an econometric model of the Greek economy estimated over the period 1957-75, and a quadratic objective function depicting the desires of the policy-makers.
The specific characteristics of the Greek economy necessary for the construction of the econometric model and the specification of the objective function are discussed in Chapter 2. Chapter 3 deals with the theoretical considerations of the macroeconomic model and presents the optimization approach persued in the study. Chapter 4 presents the econometric model and discusses its dynamic characteristics and structure. The specification of the objective function and the optimization results are discussed in Chapter 5. The major findings of the study are summarized in Chapter 6
Going Beyond Counting First Authors in Author Co-citation Analysis
Get PDFThe present study examines one of the fundamental aspects of author co-citation analysis (ACA) - the way co-citation
counts are defined. Co-citation counting provides the data on which all subsequent statistical analyses and mappings
are based, and we compare ACA results based on two different types of co-citation counting - the traditional type that
only counts the first one among a cited work's authors on the one hand and a non-traditional type that takes into
account the first 5 authors of a cited work on the other hand. Results indicate that the picture produced through this non-traditional author co-citation counting contains more coherent author groups and is therefore considerably clearer. However, this picture represents fewer specialties in the research field being studied than that produced through the traditional first-author co-citation counting when the same number of top-ranked authors is selected and analyzed. Reasons for these effects are discussed
Shared Ideas amid Mutual Incomprehension: Kalecki and Cambridge
Get PDFThe chapter examines the Cambridge Research Project of 1938-1939, in which Kalecki worked on the effects of the economic depression on particular industries. His work was subject to methodological criticism and the project was wound down at the end of 1939. The chapter examines the reasons for this failure in the incompatibilities between the Marshallian approach to economics, and the business cycle approach used by Kalecki
Optimal financial policies in an open economy: the UK case
Get PDFThe object of this study is to examine the 'monetary instrument 1 problem, at both theoretical and empirical levels, using a framework in which 'domestic 1 and 'external 1 monetary policy are analysed concurrently. Our theoretical analysis generalises and extends some of the propositions on the stabilising properties of alternative financial policies in the case of a small open economy, subject to both internal and external shocks.
An econometric model of the -U.K. economy is built to test these propositions. To get our results, we make use of an optimal control framework which employs an objective function depicting the desires of the policy makers, to yield optimal paths for the target variables as well as the policy variables. Most of the results are of the open-loop deterministic type, although we also approximate a closed-loop stochastic system by perturbing the system with certain shocks and optimizing again.
Among the pegging regimens considered, the one involving targets for foreign reserves and the monetary aggregate seems to be preferable. However, the analysis also reveals that the policy makers should not adhere to the optimal rule, but should allow the paths of the intermediate targets to alter in response to new information as it becomes available. Since the quantitative results are model specific, the study should be regarded as demonstrating a methodology for the design of policy, rather than as offering actual policy guidance
- …
