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53
Agent-Based Stockmarket Models: calibration issues and application
, 2002
"... This paper considers whether a particular agent-based stockmarket model is of use in addressing the specific practical issue of how share prices respond to the sale of a large volume of shares. The paper also considers the problems faced in calibrating the model to stock returns found in real market ..."
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This paper considers whether a particular agent-based stockmarket model is of use in addressing the specific practical issue of how share prices respond to the sale of a large volume of shares. The paper also considers the problems faced in calibrating the model to stock returns found in real markets
The 'Lump-of-Labor' Case Against Work-Sharing: Populist fallacy or marginalist throwback?" in Working Time: International trends, theory and policy
"... The persistence of high rates of unemployment in Europe, coupled with longer average work hours among many workers in the predominantly English-speaking countries, has revived interest in policies to redistribute working time. A common reaction by mainstream economists to the idea of redistributing ..."
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The persistence of high rates of unemployment in Europe, coupled with longer average work hours among many workers in the predominantly English-speaking countries, has revived interest in policies to redistribute working time. A common reaction by mainstream economists to the idea of redistributing hours of work is to contend that proposals such as work-sharing, which are intended to spark job growth, are based on the mistaken belief that there is only a fixed amount of work to be done. That assumption is sometimes called the "lump-of-labor fallacy". Alternatively, the notion has been labelled a "lump-of-work " or "lump-of-output " fallacy. The dismissive phrase has become an article of faith among many in the economics profession, despite the fact that advocates of reduced work time have, for more than a century, repeatedly disavowed the alleged belief in a fixed amount of work. Advocacy of work-time redistribution as a remedy for unemployment is based not on an idée fixe but on the defensible proposition that current work arrangements are less than ideal and that substantial improvement in the allocation of work is both desirable and practicable. This chapter briefly examines the sources of the lump-of-labor claim and its role in
Institutional Arrangements: A Gate Towards Sustainable Land Use
"... Abstract. Various common problems can be observed of the ongoing land management processes in Central and Eastern European (CEE) countries. The problems appear mainly because of confl icting legislation, performance of procedures, political unwillingness, lack of capacity of the local municipalities ..."
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Abstract. Various common problems can be observed of the ongoing land management processes in Central and Eastern European (CEE) countries. The problems appear mainly because of confl icting legislation, performance of procedures, political unwillingness, lack of capacity of the local municipalities and other public administration, insuffi ciency of information and people participation, lack of skills of the professionals and in public administration. Source of all the mentioned problems is insuffi cient understanding of the institutional setting of the land management processes. The aim of this contribution is to introduce the reader to the theory of the institutional economics and discuss its importance for systematisation of both the regulatory framework, i.e. institutions – ‘rules of the game’ and the procedures in the fi elds of territorial planning and real property formation. This theory provides a vocabulary to describe the balance between the regulatory structures (public sector) and the market forces (private sector) that will allow controlled growth and will be perceived as of general economic and social well being to the populace. Thus, the paper is intended to activate and urge politicians, governmental authorities, nongovernmental organizations, academic staff and managers of private fi rms. This contribution also can be seen as a source for further development of concepts for analysis of the observed problems. Hence combining the theory with appropriate methodology may suggest, how to deal with the stated various problems. Monographic descriptive method and logical analysis have been used in this contribution.
The Cost Function and Scale Economies in Academic Research Libraries
"... THISEMPIRICAL RESEARCH EXAMINED scale economies of academic research libraries that belong to the Association of Research Libraries and developed a total cost function for estimating economies of scale. The author argues that libraries in general, and academic research libraries in particular, are i ..."
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THISEMPIRICAL RESEARCH EXAMINED scale economies of academic research libraries that belong to the Association of Research Libraries and developed a total cost function for estimating economies of scale. The author argues that libraries in general, and academic research libraries in particular, are information provision organizations that provide multiproducts and multiservices and points out that some previous studies that used the production function have limitations due to the fact that the production function only permits a single output variable. This investigation incorporated a wide range of collections and service output variables into the total cost function. The regression results show that the adjusted R square of the cost function model is 0.8 and that the coefficients of three very important output variables (volumes held, serials, and group presentations) are statistically significant at high confidence levels. The final findings of this research show that the function coefficient is 0.93, indicating that slight economies of scale exist in academic research libraries.
How schools choose externally developed reform designs (Report No. 35
- Johns Hopkins University Center for
, 1999
"... supported as a national research and development center by funds from the Office of Educational ..."
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supported as a national research and development center by funds from the Office of Educational
A Review of Literature on Productive Efficiency in Agricultural Production
- Journal of Applied Science Research
, 2009
"... All in-text references underlined in blue are linked to publications on ResearchGate, letting you access and read them immediately. ..."
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All in-text references underlined in blue are linked to publications on ResearchGate, letting you access and read them immediately.
The Economic Behavior of Academic Research Libraries: Toward a Theory
"... THISARTICLE EXAMINES THE ECONOMIC BEHAVIOR OF ACADEMIC RE-SEARCH LIBRARIES. It argues that academic research libraries seek to maximize universities ' utility by expanding library collections. The log-linear model that reflects the relationship between library collections and prestige of univer ..."
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THISARTICLE EXAMINES THE ECONOMIC BEHAVIOR OF ACADEMIC RE-SEARCH LIBRARIES. It argues that academic research libraries seek to maximize universities ' utility by expanding library collections. The log-linear model that reflects the relationship between library collections and prestige of universities was formulated, tested, and proved to be the best fit of the data. The regression results show that about 40 percent of the variance of the dependent variable can be accounted for by library volume collections and 26 percent can be explained by library serials collections. The findings are consistent with those from a previous study using a different ranking system and sample data and reconfirm that indeed library collections contribute significantly to prestige of universities.
SOCIAL CONSEQUENCES OF TRANSITION AND EUROPEAN INTEGRATION PROCESSES IN THE BALTIC STATES
"... More than decade-lasting economic reforms and structural adjustment have had serious social consequences and costs that may have negative impact on the Baltic States reintegration into Europe and joining the EU. The main social consequences of the transition and EU integration processes are the incr ..."
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More than decade-lasting economic reforms and structural adjustment have had serious social consequences and costs that may have negative impact on the Baltic States reintegration into Europe and joining the EU. The main social consequences of the transition and EU integration processes are the increasing inequality, poverty, social exclusion and unemployment as the new phenomenon for the post-socialist societies. The paper aims to analyze poverty and social exclusion as the main consequences of rapid transition processes in the Baltic States. Both, direct and indirect approaches are used for assessment of poverty. The assessment results allow us to conclude that at the present time the Baltic societies are still characterized by the deprivation and the people’s adjustment to the quick changes caused by the transition and integration processes is not finished yet. In order to solve the possible negative social consequences of the rapid transition and European integration processes big investments into human capital and development of the social protection systems according to the national strategies oriented to sustainable development are unavoidable.
MONETARY POLICY AND DEFICITS FINANCING IN JAMAICA
"... A vector error-correction model (VECM) is estimated to examine the relationship among interest rates, monetary base, credit claims to the private sector, real income, prices, government spending, budget deficits and exchange rate in Jamaica. Cointegration is used to identify the VECM. The empirical ..."
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A vector error-correction model (VECM) is estimated to examine the relationship among interest rates, monetary base, credit claims to the private sector, real income, prices, government spending, budget deficits and exchange rate in Jamaica. Cointegration is used to identify the VECM. The empirical results show that fiscal deficits are monetized in the long-run; the roles of financial services are weak, and inverse price-real output relationship exists in both the short-run and the long-run. Monetary disciplines, reduction in fiscal spending and sound regulatory actions are crucial to reduce the national debt, the inflation and interest rates, crowd in private investments, avert financial crisis and promote economic growth.
MASTER OF ARTS IN DEVELOPMENT STUDIES Major: Economics of Development (ECD) Specialization: Global Economy Members of the Examining Committee:
, 2014
"... Real wage convergence or non-convergence after the North American free trade agreement (NAFTA) Case study of the manufacturing sector in Mexico and the United States A Research Paper presented by: ..."
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Real wage convergence or non-convergence after the North American free trade agreement (NAFTA) Case study of the manufacturing sector in Mexico and the United States A Research Paper presented by:
