Economic liberalization in Nepal has opened foreign direct investment (FDI) with assumption of positive impact on GDP and Export trade. This study examines on the relationship between FDI and GDP and the impact of FDI determinants on FDI inflow in Nepal. We use here multiple regression models....

In the first chapter of this dissertation, I estimate the wage elasticity of working in the day labor market in rural Malawi using panel data from a unique field experiment. Though employment in daily wage markets is important to individuals and governments in developing countries, there is...

Inventory dynamics play a significant role in business cycles, as inventory tends to be more sensitive to excess demand fluctuations than it is to production. This study addresses the decision-making problem of firms and households under possible quantity-constrained trade using a simple model...

Macroeconomics has been often criticized for being useless particularly since the Great Recession. In this paper, I show that macroeconomics is still important, useful, and needed on the basis of the concept of a “Nash equilibrium of a Pareto-inefficient path” (NEPIP). On a NEPIP, the...

This paper proposes two theoretical dynamic models (Models A and B) to analyze the interaction between distributive and financial cycles in capitalist economies. Model A assumes investment equals savings at the aggregate level but assumes a delay between capitalists saving their income and...

As we witness profound changes in the global economy, and as it becomes apparent that the so-called “Revived Bretton Woods System” may be nothing more than a temporary non sustainable financing of the US structural internal imbalance, favored by the global role of the dollar, which has...

In contemporary Japan, the realization of a virtuous cycle of growth and distribution (i.e., how the "new form of capitalism" should be) has been discussed. To examine the validity of economic policies suggested by the new form of capitalism, we present a Kaleckian model that considers the wage...

This study builds a Kaleckian model that incorporates endogenous technological progress and investigates how a change in a parameter that directly fosters technological progress affects growth and distribution. In this model, there is an optimal wage share that maximizes the technological...

Using two types of overlapping generations (OLG) model, we show that involuntary unemployment is in a Nash equilibrium of a game with a firm and consumers, and we can achieve full-employment by fiscal policy financed by seignorage not tax. Once we achieve it, it is maintained without government...

This study investigates how the income redistribution policy affects economic growth, employment, income distribution, income inequality, and asset inequality. The income redistribution policy is defined as one that imposes capital taxation on capitalists and redistributes it to workers....