Atlantic Economic Journal articles from March 1992

Atlantic Economic Journal archives from March 1992

Beyond catastroika: prospects for market transition in the Commonwealth of Independent States. (catastroika-complete economic collapse)
March 1, 1992... "There are two ways to get out of the economic crisis, a real one and a fantastic one. The real one is that extra-terrestrials will come down and help us. The fantastic one is that we'll do it on our own. Soviet wag quoted in Francis Clines,...

Methods of estimating productive efficiency for the enhancement of plan decision making.
March 1, 1992... I. Approach In elaborating current sectoral plans, workers in the administrative apparatus detail planning tasks, the distribution of material, labor, and financial resources, the formulation of production programs, and the fixing of...

Monitoring the performance of Soviet cotton-refining enterprises: sensitivity of findings to estimation techniques.
March 1, 1992... I. Introduction Over the past several years scholars at the Central Economics and Mathematics Institute (TsEMI) of the USSR Academy of Sciences in Moscow have been engaged in a research project of great potential value, one which might...

The notion of equilibrium in economic theorizing.
March 1, 1992... I. Introduction When I realized that is was high time for me to sit down and prepare the Presidential Address - an enterprise on which I had never been engaged before - I thought i could find some relief to my anxiety, and at the same...

Stochastic inflation and demand for nominal assets.
March 1, 1992... I. INTRODUCTION Recently, there has been renewed interest in the effects of stochastic inflation on asset choice. Peled [1985] discusses the welfare implications of government provision of indexed bonds versus the "wasteful hoarding of...

The American Political Economy.
March 1, 1992... I. Introduction Activist macroeconomic policy came of age in the post-war era under the guise of benevolent social concern. Thanks mostly to the Public Choice School, however, economists have come to view public policy as the outcome of...

Analytical similarities between the micro and macro demand curves.
March 1, 1992... Standard microeconomic theory analyzes and derives the demand curve for an individual commodity by separating the total response to a price change into the familiar income and substitution effects. Similarly, the economy's aggregate demand...

On testing the life cycle model using cross-section data.
March 1, 1992... One must be wary of advocating the life cycle model just because the consumption-age profile seems to have the correct shape. An inverted U-shaped pattern is usually observed when the average propensity to consume (APC) is plotted against age....

Interest rates and the net deficit of all government levels combined: an empirical note.
March 1, 1992... There has been extensive literature in recent years investigating the impact of federal budget deficits in the United States upon interest rates. Interestingly, little attention has been given to the role of state plus local government budgets...

Government borrowing, interest rates and crowding-out in an open economy.
March 1, 1992... Mainstream macroeconomic models predict that increases in government borrowing raise interest rates. However, empirical work in this area presents mixed results. International capital flows may offset some of the rise in rates which would...

Foreign direct investment and the distribution of income.
March 1, 1992... An issue in the development literature centers on the impact of foreign direct investment (FDI) on the distribution of income in the Third World. It is argued that the degree of monopolization by multinationals increases the return to capital....

A penny for your thoughts on income distribution.
March 1, 1992... There is a Chinese proverb: "Tell me and I'll forget; show me and I may remember; involve me and I'll understand." The following example illustrates the effects of a simple redistributional scheme, but it can be used to gauge the distributional...