Search results for "Economia Politica"
showing 10 items of 179 documents
A Scholar in Action in Interwar America: John H. Williams on Trade Theory and Bretton Woods
2009
In this paper we analyse the scientific contributions of Harvard economist John H. Williams as international trade theorist and monetary reformer together with his activities as a Vice President of the Federal Reserve Bank of New York. In the first 2 Sections we first present a succinct overview of Williams’ main contributions to international trade theory and to the interwar debate on the reform of the international monetary system. Particular attention will be devoted to his early academic writings which contained different critical arguments against the two main tenets of classical international economics: the Ricardian theory of comparative advantages and the gold standard. These critic…
Home Country Institutions and Outward FDI: An Exploratory Analysis in Emerging Economies
2020
Although the internationalization of economies is driven by specific industry conditions or business-specific differences, the institutions that exist as background conditions directly determine firms&rsquo
Lezioni di macroeconomia
2017
Il volume presenta la macroeconomia classica di base: vengono esposti la teoria della crescita di Solow e il modello AS-AD classico nei tre mercati: lavoro, beni/fondi e moneta. Il capitolo finale invita alla macro microfondata attraverso l'analisi di un'economia a due periodi e delle relative scelte intertemporali di consumatori e imprese. Il risultato è un'esposizione del core della macroeconomia classica. Costante enfasi è posta sul fatto che la materia studia gli equilibri, e su come le forze di mercato si muovono quando l'economia è fuori dall'equilibrio
How to pay for the war in times of imperfect commitment. Adam Smith and David Ricardo on the Sinking Fund
2014
AbstractThe paper proposes a comparative analysis of Smith's and Ricardo's views on the sinking fund. It shows that Smith and Ricardo agreed in stressing the ineffectiveness of the sinking fund as a policy instrument targeted at public debt repayment and tax-burden relief, pointing out that its actual workings had paradoxically helped to increase rather than reduce British total debt-load. Moreover, their explanation of the sinking fund paradox integrates a defective fiscal commitment technology with powerful politicians’ incentives to siphon off the money stored in the sinking fund to meet sudden increases of public expenditure whenever the occasion arose.
From stationary state to endogenous growth: International trade in the mathematical formulation of the Ricardian system
2015
In his 1814–15 correspondence with Malthus and in his Essay on Profits, Ricardo championed the free importation of wage goods as a highly effective growth-enhancing policy. In order to capture this aspect in the mathematical formulation of the Ricardian system first introduced by Pasinetti in 1960 in the context of a closed economy, we produce a variant of that model where the economy is a small open one. We show that this economy is characterised by endogenous growth since the growth rate is bounded from below and we locate two thresholds concerning the allocation of labour among the two sectors of the economy and the pattern of international trade.
Evolution of the Global Distribution of Carbon Dioxide: A Finite Mixture Analysis
2015
Economists and environmental policymakers have recently begun advocating a bottom-up approach to climate change mitigation, focusing on reduction targets for groups of nations, rather than large scale global policies. We advance this discussion by taking a quantitative perspective, focusing on econometric identification of groups of countries that have statistically similar distributions of carbon emissions using a broad range of finite mixture models. Nearly all of our results yield a consistent pattern: after 1980, there are two distinct emissions distributions, and that these distributions continue to evolve over time. We provide a rigorous analysis of these distributional differences al…
From endogenous growth to stationary state: The world economy in the mathematical formulation of the Ricardian system
2016
AbstractWe analyse international trade in a Pasinetti–Ricardo growth model in the world economy scenario in which several small trading countries coexist and international commodity prices are determined by the interplay of supply and demand amongst them. We demonstrate that all the trading countries eventually reach the stationary state, though this process is not monotonic and the dynamics of capital and population may actually push some countries towards the stationary state and others away from it. We also use our model to assess an argument which Malthus employed in the second edition of An Essay on the Principle of Population (1803) to support a policy of agricultural protectionism.
Systems-dynamic analysis of employment and inequality impacts of low-carbon investments
2016
Abstract This paper provides a macroeconomic framework to evaluate the social and economic consequences generated by a shift of investment to low-carbon options. We introduce into a standard growth framework a modified Lotka–Volterra model for wage and employment determination to address both the long-run dynamics of the economic system in terms of carbon emission and GDP growth and the short-term macroeconomic fluctuations in terms of unemployment and inequality. We use this framework to compare the results of different combinations of three strategies for carbon emissions reductions: improvement in energy efficiency, expansion of the renewable energy sector, and the direct reduction in ca…
Is Food Self-Sufficiency Conducive to Long-Term Growth? An Assessment of Malthus (1803) on the International Corn Trade.
2017
In this article, we have reconstructed Malthus’s views on growth and international corn trade in the second edition of his An Essay on the Principle of Population (1803) and shown their theoretical consistency with Malthus’s food self-sufficiency policy proposal advanced in Grounds of an Opinion on the Policy of Restricting the Importation of Foreign Corn ([1815] 1986b), the protectionist pamphlet that elicited Ricardo’s vehement reaction in “Essay on Profits.” Malthus’s (1803) main thesis was that the contemporary British unbalanced growth pattern was not viable. In order to avoid premature stagnation, he thought that Great Britain should both follow a pattern of balanced growth and pursue…
Strictly convex variable cost does not imply U-shaped average cost
2016
Abstract We show that strictly convex variable costs do not imply U-shaped average costs and provide a sufficient condition for U-shaped average costs. As an application we study endogenous entry when firms have market power and they have decreasing average cost but increasing marginal cost.