bluuebunny/crossref_metadata_2025_split huggingface dataset:
THE CONCEPT OF GENERAL EQUILIBRIUM IN A MARKET ECONOMY WITH IMPERFECTLY COMPETITIVE PRODUCERS*
Authors: Cornwall Richard R. 
Published: July 2006

ABSTRACTThis paper formulates a general equilibrium market economy where consumers are « perfect competitors » but producers take advantage of their ability to influence prices. It is shown that in such a model it is not reasonable for producers to attempt to maximize profits. Conditions are presented under which there exists a solution for such an economy which is Pareto‐efficient for the owners of the firms. Finally, it is shown that a pecuniary externality makes the core a very weak solution concept to use in analysing rivalry among producers.
USE OF THE DURBIN‐WATSON STATISTIC WITH LAGGED DEPENDENT VARIABLES
Authors: Sapir Andre 
Published: July 2006

SUMMARYIt has been argued that the Durbin‐Watson Statistic “d” is biased towards 2 when lagged endogenous variables are included in an equation estimated by Ordinary Least‐Squares.We show that the Durbin Statistics “h” does not generally contradict the D.‐W. test, and we conjecture that the inclusion of lagged dependent variables produces a real diminution of the dependence of the residuals over time.
ON THE OPTIMAL CONTROL OF NATIONAL ECONOMIC SYSTEM
Authors: Teo K. L. , Yeo L. T. 
Published: July 2006

ABSTRACTIn this paper, optimal policies for a national economic system modelled and modified on the basis of the cyclical growth theory developed by Keynes – Phillips – Bergstrom (4) are investigated with the aid of Pontryagin Maximum Principle. Further, a numerical example is presented using the computer programme given in the reference (15, pp. 20–31) with some modification. Its details are discussed in Section 4.
STABILITY IMPLICATIONS OF INTER‐REGIONAL MOVEMENT IN MACRO DISEQUILIBRIUM MODELS
Authors: Meinster David , Mitchell Douglas 
Published: July 2006

AbstractThis paper considers the global stability of disequilibrium macro models. Frequently past discussions of stability have ignored the possibility of movement between regimes, where regimes are defined by the combinations of quantity constraints which exist. The present paper shows the precise conditions for, and the implications of, such interregional movement. Conventionally derived assertions of either stability or instability may be mitigated by interregional movement.
COMPLEX DYNAMICS IN A SIMPLE INPUT‐OUTPUT MODEL WITHOUT THE FULL CAPACITY UTILIZATION HYPOTHESIS
Authors: Franke R. , Weghorst W. 
Published: July 2006

ABSTRACTThe paper takes up a multi‐sectoral dynamic input‐output model of Duchin and Szyld (⇐A dynamic input‐output model with assured positive outputs ⇒, Metroeconomica, vol. 37, 1985) and develops it further in two respects. On the one hand, also a decrease of productive capacities is allowed for. On the other hand, an endogenously determined ⇐ correction term ⇒ is built into the investment function. It reflects a certain kind of risk‐aversion and serves to absorb the explosive tendencies to be found in the original model. Subsequently the one‐sector version, which nevertheless comprises already four state variables, is studied by means of computer simulations. Depending on the choice of a behavioural parameter, persistent but seemingly quite irregular cycles are generated. For a more sophisticated investigation spectral analysis is employed. The model itself could succintly be characterized as an elaborated multiplier‐accelerator model.
ERROR‐CORRECTION, ⇐ SURPRISE ⇒ MODELS AND THE DIFFERENTIAL APPROACH TO THE CONSUMPTION FUNCTION(*)
Authors: Rossi N. , Schiantarelli F. 
Published: July 2006

ABSTRACTThe paper provides a general theoretical framework that allows a comparison and a possible reconciliation of error correction models of consumers’behaviour and the life cycle hypothesis under rational expectations. It is suggested that by relaxing the assumption of intertemporally strongly separable and homothetic preferences, a generalization of Hall's random walk model can be derived, containing an error correction mechanism.
RATIONAL FORMATION OF EXPECTATIONS: KEYNESIAN UNCERTAINTY AND DAVIDSON'S (NON)‐ERGODICITY‐CRITERIUM
Authors: Van Der Feltz W.J. , Hoogduin L.H. 
Published: July 2006

ABSTRACTIn this paper Davidson's argument that expectations formation according to the Rational Expectations Hypothesis (REH) may be irrational is evaluated from the viewpoint of Keynes’probability theory. Although Davidson's conclusion is supported, it is contended that his arguments are not derived from and at some points are even incompatible with Keynes’theory of probability. It is further shown why (REH) should be rejected in the light of Keynes’probability theory. Finally, two alternative ways to treat expectations which are consistent with both rational behaviour and Keynes’probability theory are sketched.
ON THE HIERARCHY OF SOME QUALITATIVE STRUCTURES IN THE VON NEUMANN AND RELATED MODELS
Authors: Giorgi Giorgio , Meriggi Maria Rosa 
Published: July 2006

ABSTRACTIn this paper we collect some old and new qualitative‐structural properties on the input and output matrices involved in the classical von Neumann model, properties relevant, from the formal and/or economic point of view, in the study of the equilibria of the said model. It is established the hierarchy, i.e. the relations of inclusion, partial overlapping and disjunction, among these properties, which permits to amend some current slips in the analysis of the von Neumann model (one due to von Neumann himself). The results obtained can be fitted to other production and exchange multisectorial models.
ON PASLNETTI'S ‘G’ MATRIX
Authors: Steedman Ian 
Published: July 2006

ABSTRACTPasinetti's vertically integrated H matrix has been much used in economic theory but his other vertically integrated matrix, G — which is of a quite different nature — has been little noticed. This paper considers the nature of the G matrix, its relationship to H, and varous issues — concerning consumption and growth, value added, sales revenue and differential growth or profit rates — for the analysis of which G is a very useful analytical tool.
THE LATENT CHOICE. WHEN IT IS WORTH POSTPONING THE DECISION
Authors: Indelli P. 
Published: July 2006

ABSTRACTWe discuss choices among irreversible projects under uncertainty. This kind of problem was first posed studying natural resource utilization (Weisbrod, Arrow‐Fisher), but our analysis may be applied to a wide class of phenomena. In an uncertain world, an economic agent, instead of committing himself to an irreversible decision, could prefer to postpone his choice waiting for better information. In this paper, we discuss the projects characteristics and the information qualities that make postponing the preferred choice. We use a Markov process with a three‐period horizon, because it allows us to treat analitically the way in which information arrives over time.
PATTERNS OF TECHNOLOGICAL LEADERSHIP A SIMPLE MODEL WITH UNCERTAINTY
Authors: Delbono F. 
Published: July 2006

ABSTRACTThis paper aims at combining dynamics and uncertainty in a simple model designed to investigate the relationship between market structure and innovation. We consider the case of two firms competing in a sequence of cost‐reducing technological races under uncertainty on the rival's R & D effort. Within an asymmetric duopoly it is shown under which conditions the expected evolution of technological leadership follows a pattern of Probabilistic Action‐Reaction or Probabilistic Increasing Dominance.
INPUT PRICE UNCERTAINTY, INVESTMENTS IN FLEXIBILITY AND COMPETITIVE INDUSTRY EQUILIBRIUM
Authors: Hiebert L. Dean 
Published: July 2006

ABSTRACTThis paper assumes that firms can respond to input price uncertainty by selecting a flexible technology. A simple model of industry equilibrium is used to examine the choice of flexibility. It is shown that the industry equilibrium is not characterized by excess capacity. This contrasts with the result in the previous literature dealing with equilibrium under product demand uncertainty. It is also shown that the effect of an increase in input price dispersion on the optimal level of flexibility and the equilibrium number of firms depends on the interaction between flexibility and the optimal size of the firm.
HARROD'S KNIFE‐EDGE AND CONSUMPTION FUNCTIONS
Authors: Nakajima Tetsuya 
Published: July 2006

ABSTRACTThis paper reconsiders Harrod's knife‐edge instability of the capitalist economy. An investment function of the type used by Harrod is combined with a consumption function of the relative income hypothesis type. It will be shown that, even under such an investment function, knife‐edge instability can be ruled out if a part of consumption behaves steadily and capitalists do not change their expectations very rapidly.
TRAINING AND LABOUR MARKET SEGMENTATION
Authors: Chapman Paul G. 
Published: July 2006

ABSTRACTA two period model of the training decision is analysed using a human capital approach. The segmented labour market model where training opportunities distinguish entrants is compared with a competitive structure with homogeneous entrants. The main conclusions in the paper are the clear effects of training wages and the different effects in the two market structures of both wages and employment prospects in the unskilled market on training.
AN ARBITRAGE INTERPRETATION OF CLASSICAL OPTIMIZATION
Authors: Ellerman David P. 
Published: July 2006

ABSTRACTThe paper mathematically develops the heuristic idea that the first‐order necessary conditions for a classical constrained optimization problem are equivalent to a market being arbitrage‐free ‐ with the Lagrange multipliers being the arbitrage‐free market prices. The arbitrage notions start with the multiplicative Kirchhoff's Voltage Law and then generalize to matrix algebra. The basic result shows the normalized arbitrage‐free «market prices» (the Lagrange multipliers) resulting from a classical constrained optimizaton problem can always be obtained as a ratio of cofactors. The machinery also gives an economic interpretation of Cramer's Rule as a competitive equilibrium condition.
DOXASTIC INFORMATION PARTITIONS, AND AN ANTI‐NO‐TRADE THEOREM (*)
Authors: Ferrante Vittorioemanuele 
Published: July 2006

ABSTRACTPartitions of the set of states of nature are the traditional information structures in decision theory. In a multi‐person context, common knowledge of the choices, such as it occurs in a trade, implies common knowledge of relevant information: hence a well‐known impossibility theorem for trade based on differing belief can be obtained. A new set theoretic axiomatization of the beliefs held by decision makers allows here for the construction of doxastic, i.e. possibly incorrect instruments of measurement of the »outside« world, and allow traders to »agree to disagree«.
VARIABLE MARKUP IN A SMALL OPEN ECONOMY WITH INFLATION
Authors: Bianconi M. 
Published: July 2006

ABSTRACTThis paper analyzes markup disturbances in a small open economy with flexible exchange rates and secular inflation. Specifically, I assume that the private sector fully controls a variable markup over costs. The markup is shown to vary (pro)anticyclically depending on the magnitude of the initial jump in the exchange rate following the disturbance.
OPTIMAL DYNAMIC PROFIT TAXATION: THE DERIVATION OF FEEDBACK STACKELBERG EQUILIBRIA
Authors: Gradus R. 
Published: July 2006

ABSTRACTIn this paper we develop a framework for determining optimal profit taxation for a welfare maximising government. We show that there is a dynamic trade off between public consumption now and in the future. Two possible solutions are derived. The first solution, which is the formal outcome of an open‐loop Stackelberg equilibrium of a game between government and firms, is time‐inconsistent. The second solution, which corresponds to a feedback Stackelberg equilibrium, is time‐consistent, but yields a lower value of steady‐state utility. The outcome of the feedback Stackelberg equilibrium depends on the number of firms in this economy. If the number of firms is large, this equilibrium coincides with the open‐loop Nash equilibrium. Furthermore, we show the dynamic paths if the economy goes from its feedback to its open‐loop steady‐state.
THE MODIFICATION OF PASINETTI'S DYNAMIC LABOUR THEORY OF VALUE
Authors: Oda Sobei H. 
Published: July 2006

ABSTRACTThis paper discusses how much labour is directly or indirectly necessary for present or future consumption of each commodity. Defining a vertically hyper‐integrated labour coefficient for every commodity. Pasinetti claims that it represents the labour which is dynamically necessary for a unit consumption of the commodity. However, if technology and annual growth rates of consumption demand are given, vertically hyper‐integrated labour coefficients are not determined uniquely. This paper demonstrates this result and formulates the improved vertically hyper‐integrated labour coefficients which are determined uniquely and thus readily applicable to both theoretical and empirical study of technical progress in non‐proportionally growing economies.
A NEOCLASSICAL FOUNDATION OF THE NON‐LINEAR INPUT‐OUTPUT MODEL
Authors: Iritani Jun , Nagatani Hiroaki 
Published: July 2006

ABSTRACTA non‐linear input‐output system is constructed on the basis of neoclassical production technologies. Four results are reported: (i) there exists a unique solution to the developed input‐output system; (ii) every real square matrix can be the Jacobi matrix of the function relating gross outputs to net outputs; (iii) if the system has a solution at a final demand vector, there is a solution at every final demand vector near it; and (iv) when the final demand for a commodity increases, its price never decreases.The system is founded on a profit function of the economy, which represents a neoclassical production possibility. By this treatment, the system can deal with joint productions, as well as no‐joint productions.
HETEROGENEOUS LABOUR, SCARCITY AND CHOICE OF TECHNIQUES
Authors: Erreygers Guido 
Published: July 2006

ABSTRACTA Sraffian model is presented in which commodities are produced by means of heterogeneous labour, and wages are (partially) determined by scarcity. Demand is explicitly taken into account, and therefore a “choice of techniques” perspective is adopted. It is shown that demand influences the choice of the cost‐minimizing technique, and that the cost‐minimizing technique may not always be unique. A dynamic extension of the model is briefly discussed. A numerical example illustrates how systems might behave over time.
THE COMPLEX DYNAMICS OF THE SIMPLE RICARDIAN SYSTEM: A NOTE
Authors: Freni Giuseppe 
Published: July 2006

ABSTRACTIn a recent note, Bhaduri and Harris (1987) showed that a discrete‐time dynamic version of the ‘simple’Ricardian system (i.e. Blaug's (1978) popular version of Kaldor's (1955‐6) representation of Ricardian distribution theory, which includes linear agricultural productivity) can be endowed with an unstable stationary state, and that the system can also exhibit “chaotic” orbits (cfr. Collet and Eckmann, 1980), even if these phenomena cannot appear when the adjustment process is continuous.This stationary state does not necessarily have to be unstable. A slightly generalized version of the ‘simple’Ricardian system (we dispense with the linearity assumption) is used in this paper to analyse a number of meaningful special cases in which the stationary state is stable.
A HARRODIAN KNIFE‐EDGE THEOREM FOR THE WAGE‐PRICE SECTOR
Authors: Flaschel Peter 
Published: July 2006

ABSTRACTThis paper investigates a positive self‐reference of the rate of inflation onto itself as can exist in a standard medium run IS‐LM model with an appropriately formulated dynamic wage‐price sector. This self‐reference represents a three‐dimensional analogy to the one‐dimensional positive feedback mechanism of the Harrodian analysis of unstable steady growth. It is shown in particular that this self‐reference can overthrow the local asymptotic stability of such an IS‐LM model in a cyclical fashion by means of a so‐called Hopf bifurcation if the adjustment speed of the price level becomes sufficiently large.
AN ENVIRONMENTAL RESTRICTION AND INCOME DISTRIBUTION IN A CAPITALIST ECONOMY
Authors: Hosoda Eiji 
Published: July 2006

ABSTRACTLet us consider a growing economy where capitalists organize production emitting pollutants. The government is supposed to issue emission rights in order to control the amount of emitted pollutants, while capitalists must control their emission of pollutants in accordance with the amount of emission rights they buy. It is assumed that workers are also allowed to purchase emission rights. We show that the conventional inverse relationship holds between the wage rate and the profit rate, and between per capita consumption and the growth rate in this economy. We also study how economic variables such as the wage rate and per capita consumption are affected by the workers' purchase of emission rights.
ACCELERATING INFLATION OR RISING UNEMPLOYMENT ‐IS THERE AN ALTERNATIVE?
Authors: Vogt Winfried 
Published: July 2006

ABSTRACTEmpirical observations suggest the existence of an unstable inflation‐unemployment trade‐off: whereas high levels of employment generate accelerating inflation rates, stability of the price level seems to require growing rates of unemployment. Under these conditions, macroeconomic policy has to produce countervailing economic fluctuations in order to limit the extent of the two‐sided instability. This is discussed within the framework of a macroeconomic model, in which prices and wages are determined by potential competition, and in which employment depends on monetary demand. The model is confronted with prevailing natural rate theories in which a stable equilibrium rate of employment is determined by supply conditions.
Mutilating palmoplantar keratoderma with oral involvement
Authors: Grau‐Massaés M. , Millán F. , Guillén C. , Febrer M.I. , Bonillo J. , Aliaga A. 
Published: July 2006

AbstractWe report a 26 year‐old man with bilateral progressive palmoplantar keratoderma, automutilation of the 3rd, 4th and 5th toes of the left foot, and recurrent episodes of gingivitis in childhood. The patient had signs common to both Papillon‐Lefevre and Vohwinckel syndromes. Acitretin was given (30 mg/day) with good results.
Postinflammatory mid‐dermal elastolysis
Authors: Barile Monica , Rivara Gian Piero , Parodi Aurora , Rebora Alfredo 
Published: July 2006

AbstractA 70‐year‐old male presented with acute eczematous dermatitis apparently related to UV light exposure. Spontaneous healing left a fine wrinkling strictly limited to the skin areas involved. Histopathology revealed complete loss of elastic tissue in the mid‐dermis. There have been only three previous reports of antedating inflammatory process in such cases.
Seborrhoeic dermatitis: a clinical survey
Authors: Bergbrant Ing‐Marie 
Published: July 2006

AbstractIn a study of clinical parameters in seborrhoeic dermatitis, a questionnaire was mailed to 524 patients with seborrhoeic dermatitis who had presented to the Department of Dermatology, Sahlgrenska Hospital, Göteborg, Sweden in 1988. Of the 82% patients who replied, 55% were males and 45% females. The mean age was 47.2 years. The patients were asked about age at onset of the disease, duration, distribution and severity of the disease, seasonal variation, influence of environment, physical and psychological status and concomitant diseases. It has to be taken into consideration that the data obtained in this study represent a hospital survey. Many patients experienced improvement of the disease in the summer and after sun exposure. No particular environmental factors were indicated by the patients as influencing the disease. There was a significantly higher incidence of seborrhoeic dermatitis in patients' parents than in spouses. The results of the questionnaire indicate that an hereditary factor is involved in the pathogenesis of seborrhoeic dermatitis.
Changes in solar energy reaching the earth: a study of total solar, UVA and UVB radiation in a highly polluted Northern Italian area*
Authors: Pigatto P.D. , Bigardi A.S. , Albertalli M.C. , Legori A. , Altomare G.F. , Finzi A.F. 
Published: July 2006

AbstractThe environment can cause and maintain a number of dermatoses, such as contact dermatitis and photodermatitis. We have recently noted a greater incidence of photodermatitis, even in subjects who declared that they had had no excessive photo exposure and/or who had tolerated normal exposure to sun in previous years. This indicated a possible change in solar irradiation. Consequently, we undertook a study of the climatic and meteorological conditions in northern Italy over the last 12 years (1978–1990). The following variables were considered: air temperature, relative humidity, solar UVA and UVB radiation, both scattered and direct. Annual data show that there has been an increase in scattered solar energy but no change in direct irradiation. There has been a clear reduction in humidity and slight increases in temperature. This is the first Italian report of climatic variations, especially of scattered sun irradiation.
AIDS and itch
Authors: Hulsebosch Hendrik J. 
Published: July 2006

AbstractThe complaint of itch is common in patients with AIDS and HIV infection. Inspection of the skin often reveals a dermatosis, but precise diagnosis is not always easy which makes it difficult for effective treatment. In HIV‐positive patients with itch, as well as common dermatoses, one often has to deal with atypical and even new skin diseases. Many of these are papular, papulo‐vesicular or papulo‐pustular. This article is a protocol for the diagnosis and treatment of itch in these patients.
Combined treatment of psoriasis with etretinate plus hydroxyurea
Authors: Török László , Kocsis Lajos 
Published: July 2006

AbstractNineteen patients with extensive, therapy‐resistant psoriasis received combined treatment with etretinate plus hydroxyurea. The individual components were given at a reduced dosage and hydroxyurea was administered intermittently. During 12 weeks of treatment, complete remission or marked improvement was observed in 16 patients (84%). The combination of etretinate and hydroxyurea in the above‐mentioned regimen was both effective and well‐tolerated.
Diagnostic significance of autoantibodies in connective tissue diseases
Authors: Meurer Michael , Franz Sabine , Braun‐Falco Otto 
Published: July 2006

AbstractAutoantibodies have become an important diagnostic tool for the diagnosis of connective tissue diseases (CTD) and for defining certain subgroups of these diseases. According to the reationship between clinical symptoms and the specificity of autoantibodies they can be classified into two major groups: (1) marker antibodies which are highly specific for a particular disease entity and (2) symptom specific autoantibodies associated with certain clinical expressions or subgroups. Titers of autoantibodies can vary from low to high but do usually not correlate with the status of disease activity. In order to interpret the significance of autoantibodies in CTD and to predict the course of disease it is necessary not only to identify single autoantibody specificities but to consider the combination in which they appear.