Microeconomic evidence reveals that the incidence and duration of unemployment in the 1930s varied significantly within the labor force. Long-term unemployment, which was especially high by historical standards, may have been exacerbated by federal relief policies

This paper assesses the empirical relevance of "dynamic" factors in industrialization in developing countries. Using data from a sample of 91 firms, rates of growth of output per unit of input are calculated. It is shown that there is little basis, at least with regard to Turkish experience, to...

The COVID-19 pandemic, also known as the coronavirus pandemic, is an ongoing COVID-19 pandemic caused by the severe acute respiratory syndrome coronavirus II. It was first identified in December 2019 in China. More than a quarter of the world's population currently has movement restrictions....

A number of market failures have been associated with R&D investments and significant amounts of public money have been spent on programs to stimulate innovative activities. In this paper, we review some recent microeconomic studies evaluating effects of government sponsored commercial R&D. We...

In this paper, we exploit establishment-level data to examine the relationship between microeconomic productivity dynamics and aggregate productivity growth. After synthesizing the evidence from recent studies, we conduct our own analysis using establishment-level data for U.S. manufacturing...

The basic premise of this paper is that understanding aggregate dynamics requires considering that agents are heterogeneous and that they do not adjust continuously to the shocks they perceive. We provide a general characterization of lumpy behavior at the microeconomic level in terms of an...

This paper reports on the current status of the microeconomic research on labor supply behavior. The purpose is to direct attention to microeconomic research that may be helpful in the continuing evaluation of aggregate models designed to explain the dynamic behavior of wages, employment and...

Since its launch in 2009 much has been written about Bitcoin, cryptocurrencies and blockchains. While the discussions initially took place mostly on blogs and other popular media, we now are witnessing the emergence of a growing body of rigorous academic research on these topics. By the nature...

Researchers make hundreds of decisions about data collection, preparation, and analysis in their research. We use a many-analysts approach to measure the extent and impact of these decisions. Two published causal empirical results are replicated by seven replicators each. We find large...

The World Health Organization declared a global emergency condition due to widespread of COVID-19 across the globe. The present study comprehensively examines the impacts of COVID-19 on GDP, employment, inflation, stock market, externa sector performance and poverty in the context of Sri Lanka....

We provide 11 short exercises that can be used in a principles of microeconomics classroom which incorporate media clips from the Economics Media Library. The exercises have been used in both small and large classroom settings and take less than 15 minutes to complete. These teaching guides can...

In contrast with the "missing micro-foundations" argument against Keynes’s macro­economics, the paper argues that it is the present state of microeconomics that needs more solid "Keynesian foundations". It is in particular Keynes’s understanding of investors’ behaviour that can be...

This textbook provides a comprehensive and unique introduction to modern microeconomics. It adopts an integrative approach, positioning the main findings of economics in a broader context. It critically reflects on theories from a philosophical standpoint and compares them to approaches found in...

"Our fourth streamlined edition arrives in the midst of some of the most dramatic upheavals ever witnessed, both in the economy generally and in higher education in particular. The COVID-19 pandemic has produced levels of unemployment not seen since the Great Depression and has created dramatic...

Die Mikroökonomie ist für viele Bachelorstudierende ein Angstfach - speziell für angehende Betriebswirte. Dieses Buch hilft dabei, die Prüfungsvorbereitung zu optimieren und stellt 77 charakteristische Prüfungsaufgaben mit Schwierigkeitsgrad, Bearbeitungszeit und Musterlösung vor. Auf...

"Fortunately, The Micro Economy Today is exceptionally well suited for this task. From its inception, this text has been motivated by policy issues. The primary goal has been to help students understand the challenges of economic policy and the consequences of specific actions like tariffs,...

"lthough many millions of dollars are spent each year on introductory economics instruction in American colleg-es and universities, the return on this investment has been disturbingly low. Studies have shown, for example, that several months after having taken a principles of economics course,...

Jüngst veröffentlichte das Nachrichtenmagazin Spiegel Enthüllungen der Plattform "Football Leaks", welche auf Absprachen europäischer Spitzenklubs zwecks Gründung einer privatrechtlich organisierten Superliga schließen lassen. Mit Blick auf die mikroökonomischen Auswirkungen für...

This is an essay to show the rigorous connection between the neoclassical theory of trade, i.e. the Heckscher-Ohlin model in the context of General Equilibrium conditions, and the real exchange rate as determined by local and foreign prices in a common currency, i.e. the Purchasing Power Parity...

We analyze the effects of minimum wages in a simple microeconomic model where several principals (potential employers) compete for one or several agents (workers) via their wage offers. A minimum wage changes this game by prohibiting wage offers below the imposed minimum wage, which results in...

We discuss important features and pitfalls of panel-data event study designs. We derive the following main results: First, event study designs and distributed-lag models are numerically identical leading to the same parameter estimates after correct reparametrization. Second, binning of effect...

We discuss important features and pitfalls of panel-data event study designs. We derive the following main results: First, event study designs and distributed-lag models are numerically identical leading to the same parameter estimates after correct reparametrization. Second, binning of effect...

I estimate potential output growth using a production function approach applied to individual firm-level data for Italy. The dataset includes 360,000 non-financial corporations over the period 2004-15. I compare these estimates with those obtained from aggregate data, with a view to extracting...

This textbook explains comprehensively and in rigorous detail not only mainstream microeconomics, but also why many economists are dissatisfied with major aspects of it, and the alternative that they are exploring in response: the Classical-Keynesian-Kaleckian approach. This advanced yet...

The Classical or Surplus Approach -- Long-Period Prices -- Introduction to the Marginal Approach -- Consumers, and the Exchange Economy -- Firms, Partial Equilibria, and the General Equilibrium with Production -- Existence, Uniqueness and Stability of Non-capitalistic General Equilibria --...

This book provides a coherent Blockchain framework for the business community, governments, and universities structured around microeconomics, macroeconomics, finance, and political economy and identifies how financial markets and governmental policies are changed by digitization, specifically...

Introduction to the Jurisprudence of Property and Contract -- Mathematical Introduction to the Jurisprudence of Property and Contract -- The Property Fallacy in Capital Theory and Corporate Finance Theory -- The Arrow-Debreu Model -- Marginal Productivity Theory -- Marxism as the Ultimate...

Ch. 1: What is Disintermediation Economics: An introduction (Psarrakis) -- Part A: Disintermediation in Microeconomics -- Ch. 2: Distributed Ledger Economics: Organizations, Incentives and Strategy (Psarrakis) -- Ch. 3: Economics of Smart Contracts: Efficiency and legal challenges...

Chapter 1. Introduction to Feedback Economics -- Part I: Macroeconomics -- Chapter 2. Get Started with Macro Modeling -- Chapter 3. Equilibrium, Instability, Growth and Feedback in Economics -- Chapter 4. Accounting System Dynamics Modeling of Money Stock as Debts: Theory and Case Analysis of...