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In this paper we formulate and substantiate a hypothesis that the magnitude of the transformational recession in transition economies in the last decade of 20th centaury was determined not only by initial pre-reformed conditions but also by privatization policies. Results of regression analysis...
Persistent link: https://www.econbiz.de/10008529253
A brief survey of the publications in mathematical economics, dealing with utility theory, probabilistic microeconomic models, and equilibrium under price rigidities, is given.
Persistent link: https://www.econbiz.de/10008529300
The paper suggests axiomatic characterization of general equilibrium for a situation where each consumer has a fixed income. Not using any concept of price, we formulate four natural requirements to "fair" or "substantiated" rule of resource allocation , and prove that only equilibrium...
Persistent link: https://www.econbiz.de/10008532166
Consider an economy with n resources (goods) and m agents, and let initial resource allocation be given. We ask if it is possible to build a mutually beneficial bargaining sequence that approaches an optimal resource allocation even though a) only k ≤ n agents participates at each step of the...
Persistent link: https://www.econbiz.de/10008536053
We develop a turnpike theory for a class of dynamic general equilibrium models where total demand function satisfy monotonicity conditions. As special cases, we receive well known results about asymptotic behavior of optimal paths.
Persistent link: https://www.econbiz.de/10008536064
This paper studies the evolution of the distribution of firms in the ferrous metals industry by efficiency levels. The proposed model takes into account interaction of processes of creation and adoption of technologies and depreciation of assets. It is shown that the model approximates real data...
Persistent link: https://www.econbiz.de/10008536068
In this paper we analyze data on sustainability of democratic regimes in resource rich countries and suggest a model to explain why resource abundance may lead to instability of democracy in some countries, but does not create any difficulties for a democratic system in other ones. Rate of...
Persistent link: https://www.econbiz.de/10008543478
This paper summarizes theoretical arguments and provides empirical evidence to support the statement that rational economic policies depend qualitatively on two factors – technological and institutional level of development of a country. We concentrate on the impact of three policies to...
Persistent link: https://www.econbiz.de/10008543493
This paper summarizes theoretical arguments, empirical evidence, and econometric findings to support the statement that rational economic policies depend qualitatively on stages of development that are defined by productivity and institutional indicators of a country. We consider the impact of...
Persistent link: https://www.econbiz.de/10008543496
Cross-country regressions, reported in this paper for 1960-99 period, seem to suggest that the accumulation of foreign exchange reserves (FER) contributes to economic growth of a developing economy by increasing both the investment/GDP ratio and capital productivity. We offer the following...
Persistent link: https://www.econbiz.de/10008543507