bluuebunny/crossref_metadata_2025_split huggingface dataset:
Rationalité des comportements et des anticipations dans les blocs réels des modèles macroéconomiques
Authors: Laffargue J.P. , Malgrange P. 
Published: September 2022

Les modèles macroéconométriques de grande taille, utilisés par les décideurs publics pour évaluer leur politique économique, reposent, pour la plupart d’entre eux, sur une structure commune qualifiée de néokeynésienne. Plus précisément ils constituent une mise en pratique du schéma IS-LM enrichi par une description de son évolution dynamique: l’accumulation du capital combinée à des mécanismes d’ajustements progressifs et d’anticipations (Cf par exemple Deleau et Al. (1981) pour une formalisation de cette démarche).Toutefois, dans ces modèles, les variables anticipées ne figurent qu’implicitement, n’étant pas directement observables. Les équations dynamiques d’ajustement sont en fait des formes réduites agrégeant les mécanismes d’ajustement proprement dit et ceux de formation des anticipations.Cet état de fait rend impraticable l’analyse isolée de l’influence des anticipations, et pour aborder ce problème il est nécessaire de construire une maquette dans laquelle les comportements des agents soient dérivés le plus rigoureusement possible -optimisation intertemporelle-, faisant par là apparaître les grandeurs futures que ces agents doivent nécessairement anticiper pour les prendre en compte dans leurs calculs.
Sen’s Concept of the Living Standard applied to the Belgian Unemployed
Authors: Schokkaert Erik , Van Ootegem Luc 
Published: September 2022

SummaryWe try to operationalise Sen’s concept of the living standard using questionnaire data on the economic situation of the Belgian unemployed. We use factor analysis to reduce the number of basic functionings and to avoid possible overlap between them. The factors obtained can be interpreted in a natural and transparent way : they refer to social isolation, general feeling of happiness, physical functioning, microsocial contact, degree of activity and financial situation. Factor scores on these functionings are related in a meaningful way to the socioeconomic characteristics of the respondents.
Demand Uncertainty and Labour Input in a Bivariate ARCH-M Model
Authors: Flaig Gebhard 
Published: September 2022

SummaryThis paper analyses the impact of input uncertainty on labour demand. An ARCH-M model is incorporated into an error-correction framework which allows to model both short- and long-run labour demand. The conditional variance of unexpected output changes serves as a proxy for demand uncertainty. The output and employment equations are estimated simultaneously for the West-German manufacturing sector.
Semi-Nonparametric Estimation of Binary Choice Models Using Panel Data: An Application to the Innovative Activity of German Firms
Authors: Laisney François , Lechner Michael , Pohlmeier Winfried 
Published: September 2022

SummaryThis paper presents an extension of Chamberlain's approach to modelling correlated random effects in a dichotomous model estimated on panel data. The extension consists in relaxing the arbitrary normality assumption made on all error terms and on specifying instead a SNP distribution for the composite error term resulting in each wave from Chamberlain's treatment of correlated random effects. An application to a panel of 1325 German firms illustrates the feasibility of the approach.
Overtime Work, Lack of Labour, and Structural Mismatch: Some Extensions of the “European Unemployment Programme” Framework
Authors: Entorf Horst 
Published: September 2022

SummaryThe paper extends the framework of the EUP to cover the effects of changes in the number of working hours. Beside this, a measure for the structural imbalances not only for the labour market (structural unemployment rate at equilibrium) but also for the goods market are presented. The empirical implementation introduces the concept of feasible working hours, which account for the maximal amount of overtime hours in the labour constraint. Simulation studies analyse the consequences of the present policy of German trade unions which bargain for a reduction of standard working hours. The main conclusions are: (i) The increasing mismatch on the goods market that is reported, basically results from an increasing mismatch on the labour market; (ii) reducing standard working hours might be a short-sighted policy; it may increase unemployment due to some induced substitution of workers by overtime work, and, moreover, due to the induced reduction of feasible working hours.
Modelling Cyclical Asymmetry in a Production Series Using Threshold Autoregressive Models
Authors: Kräger Horst 
Published: September 2022

SummaryIn recent years there is evidence in the literature that various time series like GNP or production may be nonlinear. In this paper the question is examined whether there are non-linearities in the net production index for the producing sector of the FRG. Three different non-linearity tests are applied on the stationary series and two exhibit clear nonlinearities. Therefore a SETAR-model was estimated and it was able to capture all the previous inherent non-linearities.
Monetary Integration in Europe: Introduction
Authors: Aglietto Michel , Ghymers Christian 
Published: September 2022

Before undertaking the essential synthesis of the assembled contributions on European monetary integration, it seemed necessary, in the light of recent developments, to introduce this special number by a brief commentary on the conditions for the realisation of a viable monetary union.On the eve of the symbolic date of “Europe 1992”, the monetary events of September 1992 are a timely reminder that a “Community of currencies”, which by suppressing the final source of national divisions will bring about the single market, requires the strict respect of the preconditions. However, the latter appear to be far from being secure; an opinion apparently shared by the markets whose recent somersaults have illuminated two essential principles. Firstly, the necessity for the convergence of economic performances and policies as an anchor for monetary union; and secondly, the validity of the “incompatibility theory”. The latter referring to the unstable character of a European Monetary System (EMS) based on: perfect capital mobility; fixed exchange rates; and the absence of tangible progress on monetary cooperation or a firm political engagement towards Economic and Monetary Union (EMU), such as the faultless ratification of the Treaty of Maastricht.
The External Dimension of EMU
Authors: Goodhart Charles 
Published: September 2022

SummaryThis paper is divided into three main sections. The first considers the implications of the Maastricht treaty for the external economic dimension, concentrating mainly on the inter-relationships between, and allocations of responsibility for, the decisions within the EC on the main policy issues, monetary policy, the exchange rate regime and fiscal policy. The second section considers the non-strategic external economic implications of EMU and the move to a single currency, the Ecu, issues such as the effects on trade finance, reserves, seigniorage and the net external demand for Ecu assets. The third section discusses how the establishment of EMU may affect the workings of the world economy, the exchange rate regime and coordination, such as it may be, among the main players.
Stochastic implications of the life cycle consumption model under rational habit formation
Authors: Winder Carlo C.A. , Palm Franz C. 
Published: September 2022

SummaryHall [1978] showed that the life cycle consumption hypothesis implies a first order autoregressive process for the marginal utility of consumption. This paper extends his results by showing that an appropriate pattern of rational habits will lead to an arbitrary autoregressive integrated moving average (ARIMA) process for consumption. Since the framework allows for consumption of durable goods, the analysis extends the results of Mankiw [1982]
Retraites, soutenabilité et garantie du gouvernement
Authors: Garrec Gilles Le 
Published: September 2022

RésuméNous étudions dans un modèle à générations imbriquées le rôle primordial du gouvernement pour la pérennité des systèmes de retraite par répartition. Nous montrons que les systèmes de retraite à fort taux de cotisation, comme ceux que l'on observe en Europe, ne sont viables à long terme qu'à la condition qu'une partie des droits accumulés par les retraités lorsqu'ils étaient actifs est garantie par le gouvernement. Cette condition peut néanmoins être relativisée à partir du moment où les agents de l'économie croient suffisamment en cette garantie. Ainsi, il est possible d'interpréter la baisse des droits à pension, que des retraités de certains régimes ont été amené à accepter, non plus comme la seule conséquence d'une démographie défavorable mais aussi comme résultant d'une révision de croyance.
Real exchange rates and real interest rates : a nonlinear perspective
Authors: Bec Frédérique , Ben Salem Mélika , MacDonald Ronald 
Published: September 2022

SummaryIn this paper we use a Threshold AutoRegressive (TAR) model to capture the nonlinear dynamics of monthly real effective exchange rate data for the G7 countries. The novelty of our approach relates to the use of the real interest differential as the switching variable. This choice allows us to consider jointly the nonlinearity and nonstationarity issues using recent advances in asymptotic theory. We find that the null of linearity is easily rejected against the nonlinear model for all currencies considered. Further, for five out of the seven countries, where the null of unit root is rejected, we report evidence of quite rapid mean reversion.
The Natural Rate of Unemployment in a Disequilibrium Model
Authors: Latham R.W. , Peel D.A. 
Published: September 2022

Seven years ago Friedman first argued that there is no long run trade-off between inflation and unemployment. Since then several authors have derived this result in a model which juxtaposes a neoclassical wage equation with a mark-ap price equation. The former iswhere ŵ and are the percentage rates of change of money wage rates and expected prices respectively, D and S are the demand for and supply of labour, λ is a postive and constant speed of adjustment, and a is a constant which is equal to unity when there is no money illusion.
La politique économique face à la crise
Authors: de Lettenhove A. Kervyn 
Published: September 2022

Au temps où les gouvernements croyaient encore à la possibilité de poursuivre une politique éonomique efficace, on avait pris l’habitude d’en désigner les objectifs en termes d’un carré magique dont les quatre sommets étaient:— un taux de chômage minimal (ou un taux de croissance suffisamment élevé de la production);— un taux d’inflation minimal;— l’équilibre extérieur;— l’équilibre financier de l’Etat.Le carré était sans doute magique au moins dans le sens que la magie était requise pour atteindre à la fois les 4 objectifs. Les indicateurs qu’il définit donnent aujourd’hui encore une vue simplifié mais significative de la crise belge et de sa spéificité par rapport à l’ensemble de la Communauté Européenne.Dans le tableau qui suit, les chiffres pour 1979 sont tirés des comptes nationaux révisés, ceux de 1980 sont des estimations, ceux de 1981 les prévisions des budgets économiques nationaux, en date de février 1981, tels que assemblés (et parfois amendés) par la CEE.Trois indicateurs sur quatre montrent une situation pire en Belgique que dans la moyenne de la Communauté. L’évolution du chômage est parallèle, mais son niveau plus élevé en Belgique. Pour les déficits publics et extérieurs, la situation belge est beaucoup plus mauvaise, et elle empire aussi davantage entre 1979 et 1981. Cette référence à la Communautté ne constitue en rien une norme; elle offre toutefois un point de référence utile.
M-Form adoption and firm performance : an empirical investigation
Authors: Thompson R.S. 
Published: September 2022

This paper presents the results of an empirical study on the relationship between internal structural change and performance, in a sample of 138 large U.K. companies, 1959-1976. The paper considers the introduction of the multidivisional form (M-form) within the sample and addresses itself to three principal questions:Firstly, whether re-organization to an M-form structure followed a significant decline in the performance of the firm?Secondly, whether M-form adoption was followed by a significant improvement in performance?Finally, was the performance impact, if any, of re-organization related in a systematic way to firm characteristics — e.g. size, diversification etc. — in a manner consistent with the M-form hypothesis?
Fédéralisme, coordination et harmonisation fiscales Etude du cas suisse
Authors: Dafflon Bernard 
Published: September 2022

1. CHAPITRE PRELIMINAIRE1.1 IntroductionCette étude a pour objet les problèmes de coordination et d’harmonisation fiscales dans un système fédéral. Pris au sens général, la coordination et l’harmonisation fiscales se réfèrent à l’ensemble des mesures permettant de passer d’un système fiscal épars à un système uniforme, puis unifié.Par système fiscal épars, on entend un système dans lequel la souveraineté fiscale, respectivement les compétences de définir et de prélever des impôts, sont éparpillées entre les niveaux de gouvernement et, à chaque niveau, entre les gouvernements, d’où une situation de conflits.Par système fiscal uniforme, on entend un système fiscal dans lequel les gouvernements appliquent des règles semblables; si ces dernières sont identiques, alors le système fiscal est réputé « unifié »
Wage Formation in a Two-Sector Open Economy with Two Strong Unions
Authors: Raaum Oddbjørn 
Published: September 2022

1. INTRODUCTIONObserving wage formation, at least in Norway during recent years, you cannot miss the unions increased emphasis on relative wages in the wage negotiations. This focus might be motivated by tactical reasons. Relatively decreasing wages is often a good argument, at least as far as support from the public opinion is concerned. On the other hand, people’s appreciation of their situation (here wages) does often depends on the situation of “groups with which we naturally compare ourselves”.The economics of trade unions is a rapidly expanding area. Oswald (1985) and Pencavel (1985) have given surveys of the last years’ literature. So far, little attention has been paid to the existence of different sectors and trade unions in the economy. A multisectoral framework may imply interdependence between the wage claims of the different unions. When the unions care about relative wages, there will be implications for the wage formation process. In an economy with more than one union there might exist links between wage claims of different trade unions. There are roughly three main ways in which the interdependence takes place. First, the wage claims of one union may affect the demand for workers who are members of the other unions.
Tobin’s q, the Demand for Investment and the Corporate Profit Taxation Policy in Canada (1950-1983)
Authors: Moussa Hassouna 
Published: September 2022

INTRODUCTIONIn his General Theory, Keynes argued that the ratio q of the market value of firms to the replacement costs of their assets is an important determinant of investment demand. As the market value of the firm depends on the yield of stocks and bonds, the ratio q depends itself negatively on the general level of interest. It also depends positively on the corporate income tax parameters such as the tax rate and the capital cost allowance schedule. That is, in this model, both monetary policy and corporation taxation policy affect the level of investment, if at all, through q. Whether monetary policy, or corporate income taxation policy can stabilize investment depends on at least two conditions. First they must alter the procyclical tendency of q due to the procyclicity of expected profits, and secondly, q must act on investment with a very short lag.
The two-handed growth strategy for Europe: Autonomy through flexible cooperation
Authors: Drèze Jacques , Wyplosz Charles , Bean Charles , Giavazzi Francesco , Giersch Herbert 
Published: September 2022

SummaryThis article develops the international aspects of the two-handed growth strategy. Both the supply and demand side measures are reviewed. The need to work on both sides simultaneously is stressed, even if the specific topic of cooperation privileges the demand side. The report argues that inflation, while always a risk, should not be currently seen as a major issue. Accordingly, it concentrates on the fiscal and external constraints. These two constraints are strongly interrelated. Openness makes fiscal policy significantly less cost-efficient: the case for cooperative action stems from the possibility of internalizing the income flow leakages which may deter governments from working on the demand side of the economy as they make progress on the supply side.The benefits from cooperation are directly related to openness. In practice, this means that Europe can act autonomously, as it is relatively closed: the two-handed strategy does not need to be made contingent on cooperation with the US and Japan. On the contrary, cooperation within Europe is crucial. Yet cooperation is not synonymous with synchronisation and, in particular, different conditions across countries (inflation, public and external debts) warrant different policies. Flexible cooperation must rely on Germany, France and the UK taking the lead in staging a fiscal expansion to match advances on the supply side.
L’investissement dans un contexte de faible croissance et de taux d’intérêt élevés: Une étude sur données individuelles du comportement des entreprises industrielles françaises
Authors: Chevallier Jean-Yves , Legendre François , Morin Pierre 
Published: September 2022

RésuméLes années 1980 ont été caractérisées par une atonie persistante de l’investissement industriel des entreprises françaises, une détérioration accusée de leurs comptes jusqu’en 1983 et des taux d’intérêt très élevés. En même temps, plusieurs difficultés sont apparues dans les travaux macroéconomiques consacrés à l’influence des anticipations de demande, du coût relatif des facteurs et du profit sur le comportement d’investissement. Ceci souligne l’intérêt d’une étude de ce comportement sur un panel d’environ 700 entreprises industrielles suivies de 1975 à 1983, qui représentent 30 % de la valeur ajoutée industrielle. Les principales conclusions de l’étude pourraient être les suivantes : le modèle de l’accélérateur est moins pertinent à partir de 1979. La contrainte de rentabilité semble avoir eu une forte influence pendant la période étudiée (1979-1983). Le taux d’intérêt apparent, propre à l’entreprise, semble influencer l’accumulation du capital. Le ratio d’endettement et les aides fiscales n’ont pas une grande importance.
Endogenous Stackelberg Leadership when Costs are Private Information
Authors: Albæk Svend 
Published: September 2022

SummaryLately several authors have tried to explain the emergence of Stackelberg leadership as an endogenous feature of duopoly models. This article describes two models where assumptions of incomplete information about the rival firm’s marginal cost of production creates incentives for duopolistic firms to end up in a sequential choice situation. In the first model the duopolists can commit themselves to be a Stackelberg leader or follower at the time when they know the distributions, but not the actual values, of their own and the rival’s cost. The central result from this model is that under quantity (but not price) competition the duopolists may agree on who should be the leader and who should be the follower. In the second model the firms cannot commit to a specific role. In the quantity setting version of this model they must decide both when and how much to produce. It turns out that there can never be an equilibrium where they both always produce in the same period. However, there are equilibria where one firm produces in the first period and the other in the second, i.e. Stackelberg-type equilibria. Similar results are found in a price setting version of the model.
The “Sallow Mr. Freely”: Sugar, Appetite, and Unstable Forms of Whiteness in George Eliot's “Brother Jacob”
Authors: Walters Alisha R. 
Published: September 2022

In this paper, I argue that George Eliot's “Brother Jacob” (1864) reveals a fluid system of racial production that is inextricably tied to sugar. “Brother Jacob” is one of Eliot's most unusual narratives. It is written in the tone of a fable, and it concerns confectioner David Faux, who immigrates to the colony of Jamaica. Twice, Faux's plans for fiscal gain are thwarted by his “idiot” brother, Jacob, and the latter's uncontrollable sweet tooth in ways that warn against the ungovernability of bodies—especially white ones—that desire sugar.My analysis employs the methodologies of critical race studies, as I examine how Eliot's text denaturalizes the frequent “invisibility of whiteness” (Richard Dyer). And if, as Sara Ahmed argues, we “do not face whiteness; it ‘trails behind’ bodies, as what is assumed to be given,” then Eliot's text reveals whiteness when it is in front of bodies, when its construction is rendered seeable. I analyze Eliot's examination of individual and collective white bodies that are ambivalently racialized through their desires for sugar. Throughout, I argue that the plasticity of racial forms connected to sugar suggests that bodies are unruly and cannot uphold coherent systems of racial meaning.
Framing Mills’ Black Radical Kantianism: Kant and Du Bois
Authors: Kirkland Frank M. 
Published: September 2022

AbstractThis article has two purposes. The first speaks to the compatibilist quality of Charles Mills’ Black Radical Kantianism (BRK), its strengths and weaknesses and the pertinence of W. E. B Du Bois to it. BRK turns from Mills’ previous critique of Kantianism as representative of arassenstaatlichpolitical liberalism, underwritten and tainted by the racial/domination contract, to his current defence of a compatibilist Kantianism as representative of arechtsstaatlichpolitical liberalism supported by a non-ideal racially corrective critique of both that contract and the kind of political liberalism affiliated with it. The second focuses on what I introduce as the ‘Radicalization of Kant in Black’ (RKB). RKB isnota compatibilist project. Rather it re-examines issues first posed by ‘slave- and black-encoded’ blacks coming to act and struggle with the primacy of practical reason under the historically normative authority of freedom and the abolition of enslavement. What are the ramifications of each for Kant-/Kantian-radicalization?