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Atlantic Economic Journal articles from March 1996
Quarterly publication provides economic developments and changes on a global level. It also publishes economists' research and book reviews.
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Atlantic Economic Journal archives from March 1996
Ethics as social science.
March 1, 1996... The author explores overlaps between economics and ethics. A society's moral climate conditions its degree of economic development and prosperity. Policy recommendations necessarily rest on normative as well as positive judgments. Social...
Price makers and nonclearing markets.
March 1, 1996... In a recent survey article, Benassy argues that fixprice theory holds the key to incorporating monopoly and monopolistic competition into general equilibrium theory. This paper argues that the opposite is true. Fixprice theory is an impediment...
Structural change in federal spending and deficits: legislative and cyclical influences.
March 1, 1996... This paper analyzes the behavior of federal expenditures and budget deficits since 1955. It is found that growth in these series is well described by two simple step functions allowing for three discrete increases in the means of the...
The elasticity of substitution as a proxy measure of economic integration.
March 1, 1996... This study examines how the accession of Greece to the European Union affected the Greek economy. Transcendental Production functions of agriculture, industry, and service sectors of Greece, Germany, and France were estimated and tested for...
The numeraire commodity in a mature Walrasian economy.
March 1, 1996... The central argument of this paper is that current general equilibrium output in a mature Walrasian economy is enhanced by the optimal selection of components of a multi-commodity numeraire, according to the decisions of borrowers and lenders....
Stage of process inventories in the durables sector.
March 1, 1996... Macroeconomists have ignored analyzing the behavior of work-in-progress inventories (WI) and materials inventories (MI) (collectively, input stocks), even though they dominate finished goods inventories in generating output fluctuations. This...
Expected-utility-consistent mean-variance preference functions with perverse derivatives.
March 1, 1996... It is well-known that if every attainable gable x can be compeltely characterized by its mean [mu] and variance [[sigma].sup.2], then expected utility is given by a mean-variance preference function: EU (x) = V ([mu], [[sigma].sup.2]. It is...