multi criteria revision of the hungarian renewable energy utilization action plan review of the aspect of economy abstract in 2012 the hungarian government has decided to revise the country s national renewable action plan mostly due to the experienced changes of the economic environment and the continuously decreasing cost of renewable energy technologies present paper introduces the methodology and the most important results of this revision process carried out by the centre for energy research of the hungarian academy of sciences first the results of hungarian initiatives aiming the increase of the share of renewable were examined then by analysis of technological and economic trends of recent years new scenarios were set to reach the targets set by adopting the 2009 28 ec directive 1 a multiple criteria decision analysis mcda of all potential renewable technologies and their respective fuels served as a basis for the most competitive scenarios the authors focused on five aspects economy environment climate job creation and innovation due to coverage constraints present paper dominantly focuses on the review of the economical aspect but in addition to those mentioned further aspects may also be considered in the optimisation process the results of the revision highlight that by 2020 hungary will still mostly be using bioenergy in its renewable portfolio which also allows the country to exploit its significant potential

the return of the wage phillips curve the standard new keynesian model with staggered wage setting is shown to imply a simple dynamic relation between wage inflation and unemployment under some assumptions that relation takes a form similar to that found in empirical applications starting with the original phillips 1958 curve and may thus be viewed as providing some theoretical foundations to the latter the structural wage equation derived here is shown to account reasonably well for the comovement of wage inflation and the unemployment rate in the u s economy even under the strong assumption of a constant natural rate of unemployment

regional disparities in the unemployment rate the role of the wage setting mechanism in spain 1987 92 bande r fernandez m and montuenga v m 2007 regional disparities in the unemployment rate the role of the wage setting mechanism in spain 1987 92 regional studies 41 the aim of this paper is to show how regional unemployment disparities in spain widen during economic upturns and to provide an explanation of this behaviour the analysis is based on the study of the wage setting mechanism that allows an estimation of the responses of wages to both labour productivity and the general situation of the labour market and an assessment of their impact on the evolution of regional unemployment the results of this estimation at the regional level with manufacturing data confirm the existence of marked differences between industries and between regions these responses these differences can be interpreted as a distinctive wage setting mechanism across industries and regions which may explain the evolution of unemployment rates within the regional labour markets bande r fernandez m et montuenga v

wage aspirations and unemployment persistence abstract we use panel data to examine the empirical determinants of the reservation wage in particular the influence of previous wages and consider what this implies for the evolution of the natural rate of unemployment we find that previous wages have a significant but relatively small effect on reservation wages an elasticity between 0 15 and 0 47 we also find considerable differences across genders with previous wages being more important for men and market wages being more important for women overall our results suggest that the reservation wage will adjust quite quickly to shocks

multiple objectives in agricultural planning a compromise programming application this article shows how multiobjective programming compromise programming and filtering techniques can be used to tackle some problems found in agricultural planning a real case involving the establishment of workers cooperatives within an agrarian reform program in andalusia spain is studied the underlying problem is to find a compromise between the following objectives employment seasonal labor and business profitability the multiobjective programming approach is used to find the efficient set among these objectives and after a filtering procedure a compromise between the objectives is established based on the compromise programming approach

the last word on the wage curve abstract since 1990 there has been extensive international research on the responsiveness of wages of individuals to changing local labour market conditions for many countries an inverse relationship between wages and local unemployment rates has been found in their book the wage curve blanchflower and oswald argued that the unemployment elasticity of pay is around 0 1 in most countries in a 1995 literature survey card referred to this striking empirical regularity as being close to an empirical law of economics nonetheless reported elasticities do vary even excluding outliers between about 0 5 and 0 1 there is also considerable heterogeneity among wage curve studies in terms of data and model specification this paper carries out meta analytic techniques on a sample of 208 elasticities derived from the literature to uncover the reasons for the differences in empirical results across studies several causes of variation are identified there is also clear evidence of downward publication bias in addition many reported t statistics are biased upwards due to the use of aggregate unemployment rates a maximum likelihood method and a trimming procedure are used to correct for these biases both methods give similar results for our sample an unbiased estimate of the wage curve elasticity at the means of study characteristics is about 0 07

labour taxes and unemployment evidence from a panel unobserved component model abstract this paper estimates the impact of labour taxes on unemployment using a panel of yearly observations 1970 2005 for 16 oecd countries possible heterogeneity of the unemployment incidence of taxes is taken into account by grouping countries according to their wage setting institutions panel data unit root and cointegration tests show that unemployment and labour tax rates are non stationary but not cointegrated as this finding may be induced by missing non stationary variables we set up a panel unobserved component model labour taxes are found to have a positive impact on unemployment only in countries characterised by strong but decentralised unions

reconciling the wage curve and the phillips curve the wage curve is the negative relationship that links wage levels to the unemployment rate it fits accurately with modern non competitive labour market models but goes against a phillips curve modelling because the latter ties wage growth to the unemployment rate in this article we present a comprehensive review of these non competitive models highlighting recent contributions that try to eliminate the possible gap that exists between the concepts of the wage curve on the one hand and the phillips curve on the other copyright blackwell publishers ltd 2005

multiattribute utility analysis the case of filipino rice policy major uncertainties and conflicting objectives often arise in public policy analysis this paper advances a framework that is appropriate for public policy problems frequently encountered in agriculture and food systems among other possible benefits its principal value is to provide focus on the major conflicts trade offs and subjective perceptions among affected groups it can be used to isolate major disagreements needed empirical evidence appropriate degrees of risk aversion equity value judgments and consensus solutions in an empirical setting the framework is used to evaluate price policy for rice in the philippines

energy poverty policies in the eu a critical perspective abstract once confined to the uk context where it was struggling to receive political recognition for years the concept of energy or fuel poverty is slowly entering the eu s agenda where it has crept into a number of regulatory documents and policy proposals using evidence gathered from an international workshop and semi structured interviews with decision makers experts and advocacy activists in brussels and sofia this paper explores the adoption of policies aimed at addressing energy poverty within i the organisational context of the eu and ii national state institutions in bulgaria a member state facing considerable problems at the energy affordability social inequality nexus while the former are largely nascent and poorly co ordinated the latter have already been implemented de jure to a significant extent however many unresolved issues surrounding their de facto implementation remain at the same time national policy makers remain largely unaware of the existence of direct energy poverty related initiatives at the eu level

concentration trends and profitability in us manufacturing a comment 1991 concentration trends and profitability in us manufacturing a comment applied economics vol 23 no 4 pp 717 720

real wage rigidities and the new keynesian model most central banks perceive a trade off between stabilizing inflation and stabilizing the gap between output and desired output however the standard new keynesian framework implies no such trade off in that framework stabilizing inflation is equivalent to stabilizing the welfare relevant output gap in this paper we argue that this property of the new keynesian framework which we call the divine coincidence is due to a special feature of the model the absence of nontrivial real imperfections we focus on one such real imperfection namely real wage rigidities when the baseline new keynesian model is extended to allow for real wage rigidities the divine coincidence disappears and central banks indeed face a trade off between stabilizing inflation and stabilizing the welfare relevant output gap we show that not only does the extended model have more realistic normative implications but it also has appealing positive properties in particular it provides a natural interpretation for the dynamic inflation unemployment relation found in the data

determinants of residential space heating expenditures in germany abstract we first examine the determinants of household expenditures on space heating and hot water supply in germany a number of socio economic characteristics of households are included along with building characteristics our analysis covers information on more than 12 000 households in germany for the years 1998 and 2003 the analysis continues by investigating whether different kinds of households are affected differently by increases in energy prices households in owner occupied properties are less affected compared to those in rented accommodation this could be because owners are more likely to have installed energy efficient heating and hot water supply systems and landlords have less of an incentive to improve the conditions of their rented accommodations an energy policy targeting especially the latter group might benefit not only households in rented accommodation but might also increase energy efficiency and reduce greenhouse gas emissions as well

unions power collective bargaining and optimal monetary policy we study ramsey policies and optimal monetary policy rules in a model with sticky prices and unionized labour markets collective wage bargaining and unions monopoly power dampen wage uctuations and amplify employment uctuations relatively to a dnk model the optimal

prices productivity and wage bargaining in open economies according to the standard union bargaining model unemployment benefits should have big effects on wages but product market prices and productivity should play no role in the wage bargain we formulate an alternative strategic bargaining model where labour and product market conditions together determine wages a wage equation is derived and estimated on aggregate data for four nordic countries wages are found to depend not only on unemployment and the replacement ratio but also on productivity international prices and exchange rates there is evidence of considerable nominal wage rigidity exchange rate changes have large and persistent effects on competitiveness

multicriteria analysis for agricultural resource management a critical survey and future perspectives abstract this paper reviews multicriteria analysis applied to agricultural resource management the applications utilize either methods for selecting multiattribute discrete alternatives including multiattribute utility theory or methods for solving multiobjective planning problems including goal programming our main purpose is to classify and evaluate the criteria attributes objectives used for modeling agricultural systems and to identify the difficulties for practitioners in applying the methodology the fields of study in agricultural decisions requiring further investigation are also discussed

the wage local unemployment relationship in a highly regulated labour market greece livanos i the wage local unemployment relationship in a highly regulated labour market greece regional studies using data obtained from 80 000 employees this paper examines the relationship between individual wages and regional unemployment in greece the findings highlight the dynamics of the local labour markets in a case such as greece where the organisation for economic co operation and development oecd claims that wage flexibility is limited this study does not find evidence that wages in greece are rigid but finds a wage curve elasticity of close to 0 1 which corresponds to evidence from many counties interestingly graduates are found to be the most responsive group of workers to the behaviour of local labour markets livanos i le rapport salaire chomage local dans un marche du travail extremement reglemente la grece regional studies a partir des donnees provenant de 80 000 salaries cet article cherche a examiner le rapport entre les salaires des individus et le chomage regional

capital accumulation and unemployment new insights on the nordic experience this paper takes a fresh look at the analysis of labour market dynamics and argues that capital accumulation plays a fundamental role in shaping unemployment movements this role has generally been examined by considering indirect transmission channels of the capital stock effects i e using variables like interest rates or investment ratios in the estimation of single equation unemployment rate models here we advocate a different approach we directly estimate the effects of capital stock in the labour market by applying the chain reaction theory of unemployment and we find that capital stock is a major determinant of unemployment in the nordic countries in particular the different unemployment experiences of these economies derive from the temporary albeit prolonged negative shocks to capital stock growth in denmark and sweden and the permanent downturn of capital stock growth in finland we are thus able to explain why the crisis of the early 1990s had a more acute impact in finland than in its twin economy sweden

a model of crop planning under uncertainty in agricultural management abstract the crop planning problem is often formulated as a linear programming problem but in many actual cases the profit coefficients for agricultural products are not certain values because of the influence of the future weather so a linear programming model with constant coefficients does not describe the environment of decision making properly therefore we propose a model of crop planning with uncertain stochastic values which may support decision making of agricultural farms in this paper we treat such uncertain elements as the values with the fuzziness and randomness

wage flexibility in regional labour markets evidence from italy and germany ammermuller a lucifora c origo f and zwick t wage flexibility in regional labour markets evidence from italy and germany regional studies this paper investigates the functioning of regional labour markets in italy and germany for different employee groups and regions it derives theoretical hypotheses on group specific correlations between regional unemployment and individual wages distinguishing between regions using micro data matched to local unemployment rates wage equations are specified and empirically tested for italy no evidence is found in favour of a relationship between wages and local unemployment in germany results appear to be sensitive to model specification and type of employees in both countries the reaction of wages to local unemployment varies significantly along the wage distribution being more sensitive around median quantiles ammermuller a lucifora c origo f et zwick t la flexibilite des salaires dans les marches du travail regionaux des preuves provenant de

a critical review of multi criteria decision making methods with special reference to forest management and planning abstract this paper provides a review of research contributions on forest management and planning using multi criteria decision making mcdm based on an exhaustive literature survey the review primarily focuses on the application aspects highlighting theoretical underpinnings and controversies it also examines the nature of the problems addressed and incorporation of risk into forest management and planning decision making the mcdm techniques covered in this review belong to several schools of thought for each technique a variety of empirical applications including recent studies has been reviewed more than 60 individual studies were reviewed and classified by the method used country of origin number and type of criteria and options evaluated the review serves as a guide to those interested in how to use a particular mcdm approach based on the review some recent trends and future research directions are also highlighted

sticky prices fair wages and the co movements of unemployment and labor productivity growth abstract this paper studies the co movements of unemployment and labor productivity growth for the u s economy measures of co movements in the frequency domain indicate that co movements between variables differ strongly according to the frequency first long term and business cycle co movements are larger than short term co movements second co movements are negative in the short and long run but positive over the business cycle a new keynesian model that combines nominal rigidity on the goods market sticky prices and real rigidity on the labor market fair wages is shown to be quantitatively consistent with the observed co movements both in the long term and over the business cycle however the model fails to explain the short term co movements

modeling synergies in multi criteria supplier selection and order allocation an application to commodity trading abstract we propose a novel meta approach to support collaborative multi objective supplier selection and order allocation ssoa decisions by integrating multi criteria decision analysis and linear programming lp the proposed model accounts for suppliers performance synergy effects within a hierarchical decision structure it incorporates both heterogeneous objective data and subjective judgments of the decision makers dms representing various groups with different voting powers vps we maximize the total value of purchasing tvp by optimizing order quantity assignment to suppliers and taking into consideration their synergies encountered in different time horizons we apply the proposed model to a contractor selection and order quantity assignment problem in an agricultural commodity trading act company we maximize the strategic effectiveness of both the customers and the suppliers minimize risks increase the degree of cooperation between trading partners on all levels of supply chain integration enhance transparent knowledge sharing and aggregation and support collaborative decision making

detrending stylized facts and the business cycle the stylized facts of macroeconomic time series can be presented by fitting structural time series models within this framework we analyse the consequences of the widely used detrending technique popularised by hodrick and prescott 1980 it is shown that mechanical detrending based on the hodrick prescott filter can lead investigators to report spurious cyclical behaviour and this point is illustrated with empirical examples structural time series models also allow investigators to deal explicitly with seasonal and irregular movements that may distort estimated cyclical components finally the structural framework provides a basis for exposing the limitations of arima methodology and models based on a deterministic trend with a single break

testing steady state implications for the nairu estimates of the nairu are usually derived either from a phillips curve or from a wage curve this paper investigates the correspondence between the operational nairu concepts and the steady state of a dynamic wage price model we derive the parameter restrictions that secure that correspondence the full set of restrictions can be tested by econometric analysis of the wage price system and this method is demonstrated for norwegian data a set of necessary conditions can be tested from estimated wage curves alone existing international evidence from empirical wage equations are reinterpreted in light of these conditions

a review of multi criteria decision making mcdm towards sustainable renewable energy development abstract in the current era of sustainable development energy planning has become complex due to the involvement of multiple benchmarks like technical social economic and environmental this in turn puts major constraints for decision makers to optimize energy alternatives independently and discretely especially in case of rural communities in addition topographical limitations concerning renewable energy systems which are mostly distributed in nature the energy planning becomes more complicated in such cases decision analysis plays a vital role for designing such systems by considering various criteria and objectives even at disintegrated levels of electrification multiple criteria decision making mcdm is a branch of operational research dealing with finding optimal results in complex scenarios including various indicators conflicting objectives and criteria this tool is becoming popular in the field of energy planning due to the flexibility it provides to the decision makers to take decisions while considering all the criteria and objectives simultaneously this article develops an insight into various mcdm techniques progress made by considering renewable energy applications over mcdm methods and future prospects in this area an extensive review in the sphere of sustainable energy has been performed by utilizing mcdm technique

optimal monetary policy in economies with dual labor markets abstract we present a dynamic stochastic general equilibrium dsge new keynesian model with indivisible labor and a dual labor market a walrasian one where wages are fully flexible and a unionized one characterized by real wage rigidity we show that the negative effect of a productivity shock on inflation and the positive effect of a cost push shock are crucially determined by the proportion of firms that belong to the unionized sector the larger this number the larger are these effects consequently the larger the union coverage the larger should be the optimal response of the nominal interest rate to exogenous productivity and cost push shocks the optimal inflation and output gap volatility increases as the number of the unionized firms in the economy increases

evolution of an aging society and effect on residential energy demand the development of an aged society paired with a growing number of elderly households is expected to increase residential energy demand this study is designed to analyze various factors which determine the energy demand of elderly households and to predict the future of residential energy consumption in an aging society in addition comparing the factors with those in western countries which contain a population of increasing age we try to clarify characteristics of the elderly and residential energy demand then propose possible future subjects for study

the nature of occupational unemployment rates in the united states hysteresis or structural this article provides new evidence on the nature of occupational differences in unemployment dynamics which is relevant for the debate between the structural or hysteresis hypotheses we develop a procedure that permits us to test for the presence of a structural break at unknown date our approach allows the investigation of a broader range of persistence than the 0 1 paradigm about the order of integration usually implemented for testing the hypothesis of hysteresis in occupational unemployment in almost all occupations we find support for both the structuralist and the hysteresis hypotheses but stress the importance of estimating the degree of persistence of seasonal shocks along with the degree of long run persistence on raw data without applying seasonal filters indeed hysteresis appears to be underestimated when data are initially adjusted using traditional seasonal filters

the wage curve revisited estimates from a uk panel abstract panel data from the uk are used to estimate a wage curve allowing simultaneously for time individual and spatial effects thereby correcting for grouped and cross classified data bias estimates of the unemployment elasticity of the wage are volatile and imprecise

handling uncertainty in agricultural supply chain management a state of the art given the evolution in the agricultural sector and the new challenges it faces managing agricultural supply chains efficiently has become an attractive topic for researchers and practitioners against this background the integration of uncertain aspects has continuously gained importance for managerial decision making since it can lead to an increase in efficiency responsiveness business integration and ultimately in market competitiveness in order to capture appropriately the uncertain conjuncture of most agricultural real life applications an increasing amount of research effort is especially dedicated to treating uncertainty in particular quantitative modeling approaches have found extensive use in agricultural supply chain management this paper provides an overview of the latest advances and developments in the application of operations research methodologies to handling uncertainty occurring in the agricultural supply chain management problems it seeks to i offer a representative overview of the predominant research topics ii highlight the most pertinent and widely used frameworks and iii discuss the emergence of new operations research advances in the agricultural sector the broad spectrum of reviewed contributions is classified and presented with respect to three most relevant discerned features uncertainty modeling types programming approaches and functional application areas ultimately main review findings are pointed out and future research directions which emerge are suggested

estimating potential output as a latent variable this article proposes a new method for estimating potential output in which potential real gross domestic product gdp is modeled as an unobserved stochastic trend and deviations of gdp from potential affect inflation through an aggregate supply relationship the output and inflation equations together form a bivariate unobserved components model which is estimated via maximum likelihood through the use of the kalman filter algorithm the procedure yields a measure of potential output and its standard error and an estimate of the quantitative response of inflation to real growth and the output gap

concentration trends and profitability in us manufacturing a reply and some new evidence 1991 concentration trends and profitability in us manufacturing a reply and some new evidence applied economics vol 23 no 4 pp 721 722

real wages inflation and labour productivity in australia this paper presents an analysis of real wages inflation and labour productivity interrelationships using cointegration granger causality and most importantly structural change tests applications of tests to australian data over the 1965 2007 period corroborate the presence of a structural break in 1985 and show that a 1 percent increase in manufacturing sector real wages led to an increase in manufacturing sector productivity of between 0 5 and 0 8 percent comparable estimates for the effect of inflation on manufacturing sector productivity have limited statistical significance granger causality test results suggest that real wages and inflation both granger cause productivity in the long run

wage dynamics reconciling theory and evidence u s macroeconomic evidence shows a negative relation between the rate of change of wages and unemployment in contrast most theories of wage determination imply a negative relation between the level of wages and unemployment in this paper we ask whether one can reconcile the empirical evidence with theoretical wage relations we reach three main conclusions first we derive the condition under which the two can indeed be reconciled we show the constraints that such a condition imposes on the determinants of workers reservation wages as well as the relative importance of workers outside options as opposed to match specific productivity in wage determination second in the light of this condition we reinterpret the presence of an error correction term in macroeconomic wage relations for most european economies but not in the united states third we show that whether this condition holds or not has important implications for the effects of a number of variables from real interest rates to oil prices to payroll taxes on the natural rate of unemployment this abstract was borrowed from another version of this item

tax reforms under market distortions in product and labour markets using a two agent model comprised of capitalists and workers this paper examines the importance of imperfect competition in product and labour markets in determining the welfare effects of tax reform the reform considered consists of eliminating the capital tax alongside a concurrent rise in the labour tax in contrast to the perfectly competitive model models with product or labour market failures each result in welfare losses for the workers in the long run in a realistic calibration to the uk economy combining these imperfections implies that this tax reform will be pareto improving in the long run however these welfare gains over longer time horizons come at the cost of short run losses which consistent with previous research result in welfare losses for workers post reform

the hodrick prescott technique a smoother versus a filter abstract it is shown that the hodrick prescott filter acts as a smoother over the sample and as a true filter at the end of the sample using these two different concepts the output gap resulting from the true filter is consistent with the policy maker s interpretation of the cyclical component of real output and provides better out of sample forecasts of inflation

challenges in the wind turbines location process in central europe the use of spatial decision support systems abstract the implementation of a framework for climate and energy policies in europe entails a number of development projects connected to renewable energy resources as far as many western countries have realized some of those investments during recent decades and have more experience in that field most of the countries in central europe have to face that challenge right now however a rapid increase in renewable energy production in those countries can cause some dysfunctions in the investment process national control authorities in poland marked that the decision making process concerning the location of wind turbines has not been carried out properly the paper presents a review of the studies regarding the use of spatial analysis in renewable energy policy implementation and a proposition for the use of the multi criteria spatial decision support system based on geographical information systems the presented model has a character of an open framework which allows a user to add any location parameter or factor which is possible to be represented as a metric value the spatial character of the proposed solution exceeds only mathematical models in the way of interpretation of the results an intuitive model supports communication with stakeholders and helps to explain the correlations between human activity and the location of power plants the model was tested on the case study of wroclaw agglomeration area poland and includes 13 location factors the use of a multi criteria model guaranteed a broader point of view in comparing five different scenarios of wind farms development in the decision making process as it combines conflicted interests groups minimalizes subjective assessment and enables to define priorities while setting weights of factors

real interest rate and labor market performance around the world this article studies the effects of the real interest rate on labor market performance using a much larger sample of countries and more indicators of labor market performance than have been used in previous articles it finds that a rise in the real interest rate increases the unemployment rate raises the share of long term unemployed and reduces the employment rate the magnitude of these effects is very small in the short run but much more pronounced though still fairly small in the long run young people are disproportionately affected the results are robust to variations in specification

decentralized targeting of an antipoverty program abstract developing country governments often delegate authority over the targeting of antipoverty programs to community organizations while retaining control over how much goes to each community we offer a theoretical characterization of the information structure in such programs and the interconnected behavior of the various players our model motivates an econometric specification for explaining distributional outcomes results for bangladesh s food for education ffe program indicate that within village targeting improved with program size lower land inequality less remoteness fewer shocks and less private redistribution there is no sign that the center took account of village attributes conducive to reaching the poor

definitions of fuel poverty implications for policy abstract this paper outlines why the definition of fuel poverty is important in policy formulation and describes how the government s current definitions evolved from the original concept it discusses the determination of income and fuel costs and the possibilities for a relative and common european measure it examines problems inherent in assessing fuel costs as a percentage of income and puts forward the arguments for a budget standard approach the paper illustrates how the size of the problem depends on the definition and chosen threshold and suggests advantages for a rating scale it illustrates how the income composition and thresholds also govern the distribution of the target populations and the relative importance of the main causal factors and examines the consequent policy implications it explores the definition of vulnerable households and the importance of severity and questions whether the uk fuel poverty strategy is targeted at households least able to afford their fuel costs as the name implies or primarily those at risk from excess winter and summer mortality and morbidity finally after examining the role of supplementary indicators it looks at the opportunities for changing the definition and comments on the government review of the definition and targets

use of multicriteria decision analysis methods for energy planning problems most decision making requires the consideration of several conflicting objectives the term multiple criteria decision analysis mcda describes various methods developed for aiding decision makers in reaching better decisions energy planning problems are complex problems with multiple decision makers and multiple criteria therefore these problems are quite suited to the use of mcda a multitude of mcda methods exists these methods can be divided in three main groups value measurement models goal aspiration and reference level models and outranking models methods from all of these groups have been applied to energy planning problems particularly in the evaluation of alternative electricity supply strategies each of the methods has its advantages and drawbacks however we cannot conclude that one method generally is better suited than the others for energy planning problems a good alternative might be to apply more than one method either in combination to make use of the strengths of both methods or in parallel to get a broader decision basis for the decision maker until now studies of mcda in energy planning have most often considered energy networks with only one energy carrier more advanced energy systems with multiple energy carriers have been neglected even though this field ought to be suitable for use of mcda due to its high complexity many decision makers and many conflicting criteria

monetary policy and macroeconomic stability under alternative demand regimes in this paper we analyse the interaction of macroeconomic activity and the dynamics of real wages from a theoretical perspective by means of a system dynamic approach we investigate the economic viability of wage and profit led demand regimes by analysing not only the effect of real wages on output but also the feedback mechanisms of macroeconomic activity on the real wages furthermore in this context we focus on the role of monetary policy as a macroeconomic stabilisation mechanism in the two mentioned demand regimes

a linear goal programming model for developing economies with an illustration from the agricultural sector in egypt in this study we formulate a multi regional single time period linear goal programming model for agricultural planning in a developing economy in addition to specifying different levels of input and output for each activity we describe explicit crop interdependencies which account for rotational requirements constraints are developed for land labor water machinery fertilizer and capital resources economic aspects are addressed through the use of different production functions and the incorporation of several objectives this last point marks a departure from conventional models which stress maximization of economic welfare defined as efficiency through maximum social product without consideration for income distribution the emphasis on income distribution is reflected in our model in delineation of regional employment goals in addition foreign exchange expenditures and regional demand satisfaction goals reflect the importance of limiting foreign trade deficit and providing basic nutrition fo

wage formation and bargaining power during the great depression we present an econometric analysis of wage behaviour in norway during the interwar years the analysis is based on a panel of manufacturing industry data using gmm estimation methods our empirical analysis shows that wage formation in the interwar period can be understood with the help of modern bargaining theory and well established wage equations we estimate a long run wage curve that has all the standard features of being homogeneous in prices proportional to productivity and with a negative unemployment elasticity we also present some new monte carlo evidence on the properties of the estimators used

the determinants of nominal income output and the price level a synthesis of the keynesian and neo classical views this paper deals with one of the oldest problems in macroeconomics the business cycle of the old tradition the fluctuations of output and the price level of the keynesian tradition and the real business cycle of the recent literature it examines how demand and supply functions evolve through time after an exogenous shock to demand it borrows from keynes the idea that in static equilibrium aggregate demand and aggregate supply functions are essential tools of macroeconomic dynamics it borrows from friedman the notion that money plays an essential role in the determination of the macroeconomic equilibrium the paper derives some empirical implications with regard to the rational behavior of economic agents and shows that after a change in aggregate demand real output and the price level will follow a counterclockwise movement in the price level real output plane this implies that it is incorrect to hypothesize as has been done by both keynesians and monetarists alike that the two variables would be positively correlated in our model this would only be true if the accelerator principle were to play an important role in the dynamics of aggregate demand

the influence of public subsidies on farm technical efficiency a robust conditional nonparametric approach the objective of this paper is to assess the influence of public subsidies on farm technical efficiency using recent advances in nonparametric efficiency analysis to this end we use robust conditional frontier techniques as well as insights from recent developments in nonparametric econometrics the paper contributes to the ongoing methodological discussion on how to model the effect of public subsidies on farmers production decisions the analysis is conducted using an unbalanced panel data of 1604 observations from 313 french farms located in the french region meuse over the period 2006 2011 the estimates indicate that public subsidies influence negatively the conditional technical efficiency of farms this suggests that public subsidies affect both the range of the attainable set for the inputs and outputs and the distribution of the efficiency scores inside the attainable set

dynamic properties of energy affordability measures measures of affordability are applied in practice e g to assess the affordability of energy services water or housing they can be interpreted as measures of deprivation in a specific domain of consumption the large body of literature on affordability measure has little overlap with the existing literature on poverty measurement a comprehensive assessment of the response of affordability measures as a result of changes in the distribution of income or expenditure is missing this paper aims to fill this gap by providing a conceptual discussion on the dynamics of energy affordability measures several types of measures are examined in a microsimulation framework to assess their dynamic properties our results indicate that some measures exhibit odd dynamic behavior this includes measures used in practice such as the low income high cost measure and the double median of expenditure share indicator odd dynamic behavior is attributed to definitions made with respect to higher moments of the expenditure distribution definitions that rely on a percentage share of expenditure relative to income or an absolute or relative income poverty line fare well from a dynamic perspective

how much has labour taxation contributed to european structural unemployment abstract we analyse the effect of labour taxes on euro area unemployment making use of the blanchard and katz 1999 wage dynamics reconciling theory and evidence american economic review 89 2 69 74 nairu model we represent structural unemployment as that made up of two elements an observed part related to labour taxes plus a non stationary unobservable component related to the reservation wage and to the wage mark up contrary to empirical estimates available so far this modelling explicitly acknowledges the existence of non measurable factors responsible for the unemployment non stationarity for the period 1970 2004 we obtain a tax effect that lies in the middle of the estimates that can be found in the literature this study gives support to the view that lowering labour taxes can help to reduce unemployment in continental europe

experiencing fuel poverty coping strategies of low income households in vienna austria abstract until the present day research on fuel poverty focussing on the point of view of those concerned is few and far between the present paper aims at filling this gap analysing experiences with and behavioural responses to fuel poverty it examines the day to day energy situation of households which are poor at risk of poverty and or suffering from fuel poverty in a case study conducted in the austrian capital vienna qualitative interviews provide the data for investigating the relevant factors in causing fuel poverty among those bad housing conditions outdated appliances financial problems and provide a basis for discussion about the respective behavioural strategies of the people concerned the results show that the ways of handling this problematic situation vary greatly and that people follow different strategies when it comes to inventing solutions for coping with the restrictions and finding ways of satisfying at least a part of their basic energy needs nonetheless it also clearly surfaces that the scope of action is limited in many cases which in turn only supports the claim that changes in the overall conditions are essential

assessing the fuel poverty vulnerability of urban neighbourhoods using a spatial multi criteria decision analysis for the german city of oberhausen abstract tackling fuel poverty has become an increasingly important issue on many european countries political agendas consequently national governments local authorities and ngos have established policies and programmes to reduce the fuel poverty vulnerability of households however evaluations of such policies and programmes show that they barely reach those who are most in need the reasons for this failure are diverse and include fuel poverty measurement metrics local scale data availability and policy design this raises the question of how fuel poor homes can be more effectively identified and targeted to ensure that limited local and national budgets are used to benefit those who most need help area based approaches which pinpoint spatial units highly affected by fuel poverty due to their specific characteristics offer an opportunity for creating more tailored policies and programmes in this study the author developed a gis mcda multi criteria decision analysis using an ahp analytical hierarchy process and applied the approach to the german city of oberhausen the overall issue of fuel poverty was broken down into three vulnerability dimensions heating burden socio economic and building vulnerability the relative importance of fuel poverty criteria and the dimensions were evaluated by experts and an overall fuel poverty index was created to assess the relative fuel poverty vulnerability of 168 urban neighbourhoods the analysis offers insights into the spatial pattern of fuel poverty within a city and thus provides an opportunity to channel efforts towards households in those neighbourhoods most in need it also demonstrates that a trade off between ecological and social targets should be considered in the development of future policies for tackling fuel poverty

exchange rate determination macroeconomic dynamics and stability under heterogeneous behavioral fx expectations abstract in this paper the role of behavioral forecasting rules of chartist and fundamentalist type for the dynamic macroeconomic stability of a two country system is investigated the main result of the paper is that for large trend chasing parameters in the chartist rule used in the fx market not only this market but also the entire macroeconomic system is destabilized this outcome takes place despite of a monetary policy conduction in both countries which satisfies the taylor principle and thus highlights the limits of monetary policy as a macroeconomic stabilization instrument in a world of boundedly rational agents

wage productivity and unemployment microeconomics theory and macroeconomics data we confront microeconomics theory with macroeconomics data unemployment results from two main micro level decisions of workers and firms most of the efficiency wage and bargaining theories predict that over the business cycle unemployment falls below its natural rate when the worker s real wage exceeds the reservation wage however these theories have weak empirical support firm s decision predicts that when the worker s real wage exceeds the marginal product of labour mpl unemployment increases above its natural rate accounting for this microeconomic decision helps explain almost all the fluctuations of us unemployment

equity and policy effectiveness with imperfect targeting abstract we propose a general approach that jointly integrates horizontal and vertical equity criteria in the assessment of poverty alleviation programs with the strength of each criterion being captured through its own inequity aversion parameter this contrasts with the assessment of poverty alleviation programs done with simple under coverage and leakage ratios or with other methods that do not take into account the heterogeneity of the poor and that do not address directly the social benefits of achieving normative criteria our methodology is illustrated using tunisian data and two alternative poverty alleviation policies we find inter alia that the social ranking of commodity and socio demographic targeting in tunisia depends on the policymaker s comparative preference for vertical and horizontal equity

concentration trends and profitability in us manufacturing a further and some new and improved evidence the purpose of this note is to clear up several misconceptions presented by saghafi and attaran 1991 s a in their reply to my comment o neill 1991a the most egregious misconception being that s a failed to recognize the main point of my comment the entropy index values reported by attaran and saghafi 1988 a s are erroneous becouse they are based on incorrectly computed firm market share values the problem being that a s compute share values using the sales or assets or equity of the fortune 500 firms in the denominator of their share figures rather than using the total manufacturing sector saless or assets or equity this obviously overstates each firm s market share as stated in o neill 1991a the effect this has on the entropy index cannot be determined aa priori it depends on the data sample in the entirety of their rely not once do s a refute this claim a second perhaps more important point is that when the entropy index is computed using corrected market share values the t

concentration trends and profitability in the us manufacturing sector 1970 84 it has been suggested that the us economy is becoming more concentrated and less competitive concentration is also claimed to affect the return and risk of companies in this paper using the entropy technique the concentration index for the manufacturing sector of the us economy has been computed and the concentration trend has been analysed furthermore the impact of concentration on return and risk of manufacturing companies is investigated

estimating the natural rate of unemployment in euro area countries with co integrated systems given that for france germany italy and the netherlands the unemployment rates are best classified as i 1 we apply permanent transitory decompositions based on co integrated vector autoregressions var with relevant variables labour productivity wages tax wedges foreign relative prices to estimate the time varying natural unemployment rates in general all variables seem to matter and the results are quite different from published organization for economic co operation and development oecd nairus our implied unemployment gaps are better than the oecd gaps in predicting unemployment changes and inflation gaps but they are except for italy as bad as the oecd gaps for forecasting inflation changes

wages and the value of nonemployment nonemployment is often posited as a worker s outside option in wage setting models such as bargaining and wage posting the value of nonemployment is therefore a key determinant of wages we measure the wage effect of changes in the value of nonemployment among initially employed workers our quasi experimental variation in the value of nonemployment arises from four large reforms of unemployment insurance ui benefit levels in austria we document that wages are insensitive to ui benefit changes point estimates imply a wage response of less than 0 01 per 1 00 ui benefit increase and we can reject sensitivities larger than 0 03 the insensitivity holds even among workers with low wages and high predicted unemployment duration and among job switchers and recently unemployed workers the insensitivity of wages to the nonemployment value presents a puzzle to the widely used nash bargaining model which predicts a sensitivity of 0 24 0 48 our evidence supports wage setting models that insulate wages from the value of nonemployment

gradual wage price adjustments labor market frictions and monetary policy rules abstract in this paper the role of different types of labor market frictions in the dynamics of output and inflation is investigated for this purpose the keynes goodwin model discussed in chen et al 2006 and franke et al 2006 is extended by a labor search and matching module along the lines of mortensen et al 1994 after estimating the resulting model with u s aggregate time series and comparing its dynamics with those of a var model the performance of different types of monetary policy rules for inflation and more generally for macroeconomic stability is analyzed