Showing papers in "Structural Change and Economic Dynamics in 1996"

TL;DR: This article investigated the relationship between income and product diversity and found that per-capita income has a strong positive impact on the number of products consumed at a non-negligible level in a country, and a significant negative impact on consumers' expenditure across different goods categories.

TL;DR: In this paper, the authors examined a nonlinear disequilibrium model of price formation in speculative markets with two groups of speculators, fundamentalists and chartists, and the behavior of the fundamentalists is stabilizing, whereas that of the chartists is destabilizing; a sufficiently high share of wealth in the hands of the latter group can cause attracting periodic orbits to arise.

TL;DR: In this article, a search-theoretic model of a decentralized economy with heterogeneous individuals trading goods endowed for goods in need among themselves is developed, which characterizes both barter and monetary systems as two different forms of trade equilibrium and demonstrates that while the existence of a barter equilibrium requires a wellbalanced distribution of endowments and needs, that of a monetary equilibrium requires no real conditions.

TL;DR: This article found that many of the anomalies in the exchange rate literature can be explained in large measure by recurrent shifts in the co-integrating vector of a composite monetary model, and they also found that the cointegration and considerable improvement in the out-of-sample fit on the part of all structural models examined.

TL;DR: In this paper, a model of trade and capital mobility between asymmetrical Northern and Southern economies is used to analyze the effects of trade-and investment liberalization along the lines of the North American Free Trade Agreement and other new efforts at North-South integration.

TL;DR: In this paper, an elementary macroeconomic growth model is proposed in which the evolution of inventories can be studied in combination with the accumulation of fixed capital, and the model is calibrated such that the numerical simulations are largely compatible with empirical time series.

TL;DR: In this paper, an export-led model of growth and fluctuations is presented to explain the growth path of an economy which, having entered the international market with a competitive price level, accelerates economic growth and expands export share in world trade, approaches a labour shortage that raises wages and worsens both competitiveness and economic growth, and reacts with a shock of technical change that restores previous dynamics but starting from a higher wage level.

TL;DR: A methodological appraisal of Pasinetti's recent contribution to the analysis of structural economic dynamics is presented in this article, where the authors present a general consideration on the method employed by the author.

TL;DR: In this article, the authors argue that Pasinetti's theory of growth provides new insights into the problem of economic development and that the method of vertical integration supersedes the Dobb-Sen critique of the neoclassical investment rule.

TL;DR: In this paper, the role of international competitiveness in economic growth is examined within the Kaldorian approach, i.e. an approach in which aggregate demand plays a crucial role.

TL;DR: In this article, the authors explore the social dynamics of economic behavior and explore ways to encourage endogenous growth in the US economy, specifically, how to encourage innovation, the key to successful competition and growth.

TL;DR: In this paper, the authors proposed an economic model to analyze a dynamic interaction among capital accumulation, economic structure and preference in a perfectly competitive economic system consisting of three sectors: agriculture, industry and service.

TL;DR: In this paper, the authors introduce a new class of the simultaneous switching autoregressive (SSAR) model, which is a non-linear Markovian switching time series model, and discuss the problems of coherency, ergodicity, the stationary distribution and its moments.

TL;DR: Pasinetti as discussed by the authors examines the most recent contribution by Luigi Pasinetti to the investigation of structural economic dynamics by considering in particular the role of demand theory and suggests that a number of critical features of demand (and demand evolution) in modern capitalist economies cannot easily be reconciled with the theoretical framework underlying the analysis.

TL;DR: In this paper, an analysis of Pasinetti's analysis of the relationship between the policy goal of average price stability and the choice of a special numeraire (Pasinetti's "dynamic standard commodity") is presented.

TL;DR: In this paper, a general model of a closed economy in which the dynamic disequilibrium interactions among labor, goods and asset markets are explored is introduced, and the model contains many existing partial models as special cases, and gives rise to a fourdimensional dynamical system in general.

TL;DR: In this article, it is hypothesized that the collapse of the Polish foreign exchange market in 1989 was the bursting of a stochastic speculative bubble caused by inflationary expectations after the change of government and financial liberalization.

TL;DR: In this paper, the authors compare the one-sector neoclassical growth model with a neo-Austrian growth model, which is derived using a basic three-process model.

TL;DR: In this article, the authors used a maximum entropy method to derive statistically a null hypothesis on the nature of the intra-enterprise, business size distribution for large enterprises in UK manufacturing.

TL;DR: In this paper, a growth model with a structural break that results from threshold externality is studied, and the social planner's problem is first studied and then the competitive equilibrium is examined.

TL;DR: In this paper, the authors provide a formal model for examining the roles of the public and the private sectors in the process of transformation from the command to the market system, and judge some practical issues like investment in infrastructure, property rights and demilitarization from this point of view.