Edgar L. Feige
Gunnar Eliasson
Gunnar Eliasson
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…
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…
Thomas Lindberg and Tomas Pousette
Bertil Holmlund
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.
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…
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…
Gunnar Eliasson
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…
Robert W. Clower and Daniel Friedman
Ove Granstrand
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…
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…
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…