153. The Swedish Payments System and the Underground Economy

Edgar L. Feige

152. Theory Construction and Economic Measurement at Different Levels of Aggregation: Parallel Theories and Data on Families and Firms

Gunnar Eliasson

151. Is the Swedish Welfare State in Trouble? A New Policy Model

Gunnar Eliasson

150. Is There a Long-Run Trade-Off between Inflation and Unemployment?

Bo Axell and Harald Lang.

How are inflation and unemployment related in the long run? Are they negatively correlated, as in the so-called naive Phillips curve theories or uncorrelated, "as in the neo-liberals' view or are they positively correlated as Friedman suggested in his…

149. The Replacement of the UV-Curve with a New Measure of Hiring Efficiency

Nils Henrik Schager

In this paper we show that changes in the position of the UV-Curve do not unambiguously reflect changes in labour market adjustment ability. In fact, the UV-Curve is displaced not only when hiring efficiency changes but also when the volume of hiring…

148. Services in Production and Production of Services in Swedish Manufacturing

Thomas Lindberg and Tomas Pousette

147. Centralized Wage Setting, Wage Drift and Stabilization Policies under Trade Unionism

Bertil Holmlund

146. Chaos in the Middle Zone: Nonperiodic Fluctuation in the Dynamic van Thunen Model

Kenneth A. Hansson

Non-periodic fluctuations of production activities are shown to exist in a dynamic von Thunen model for specific conditions of cost and demand.

145. Irregular Fluctuations in Competitive Markets with Production Lags

Richard H. Day and Kenneth A. Hansson

This paper shows how changing patterns of change and irregular or chaotic fluctuations arise in deterministic, competitive markets with production lags using (1) the standard cobweb model with a backward bending supply function and (2) the…

144. Adaptive Economizing, Technological Change, and the Demand for Labor in Disequilibrium

Richard H. Day and Kenneth A. Hanson

An adaptive economizing framework is proposed for analyzing labor market aspects of long-term industrial development using a dynamic, disaggregate economic model based upon principles of bounded rationality and markets in disequilibrium. The approach is…

143. The Stability of Economic Organizational Forms and the Importance of Human Capital

Gunnar Eliasson

142. Endogenous Preferences and Adaptive Economizing

Richard H. Day

Our concern is with economizing behavior when preferences depend on experience. It is shown that such dependence, reflecting 'deep psychological structure', even when it is stable or habit forming in a fixed environment, can be destabilizing in a market…

141. Trade Specialists and Money in an Ongoing Exchange Economy

Robert W. Clower and Daniel Friedman

140. Measuring and Modeling Innovative New Entry in Swedish Industry

Ove Granstrand

139. Dynamic Micro-Macro Market Coordination and Technical Change

Gunnar Eliasson

This paper discusses the nature of macro productivity change from the perspective of a Schumpeterian micro-to-macro (M-M) model. It emphasizes the dynamics of resource allocation through markets (firms) where agents are both price and quantity setters. We…

138. Information Technology, Capital Structure and the Nature of Technical Change

Gunnar Eliasson

This paper presents statistical evidence on (1) the importance of "soft" capital spending items like marketing and R&D investments, and (2) the dominant service content of production in the modern manufacturing firm. It pictures the firm as a…

137. Private Enterprise vs. Government Control: An Organizationally Dynamic Comparison

Pavel Pelikan

It is noted that modern economics cannot decide which economic system is the best way of organizing production. In particular, support is given to Nelson (1981) who claims that modern economics does not provide any substantial argument in favor of private…

Research Institute of Industrial Economics, Grevgatan 34 - 2 fl, Box 55665, SE-102 15 Stockholm, Sweden | Phone: +46-(0)8-665 45 00 | info@ifn.se