1894 1934 1953 1954 1964 1967 1969 1970 1974 1978 1980 1982 1985 1987 1992 1994 1996 1998 1999 2000 2001 2002 2003 2006
A Reprise of Size and R&D [статья]
Опубликовано на портале: 12-07-2007Wesley Marc Cohen, Steven Klepper Economic Journal. 1996. Vol. 106. No. 437. P. 925-951.
Numerous studies have shown that, within industries, the propensity to perform R&D and the amount of R&D conducted by performers are closely related to the size of the firm, while R&D productivity declines with firm size. These findings have been widely interpreted to indicate that there is no advantage to large firm size in conducting R&D. The authors show how a simple model based on the idea of R&D cost spreading can explain the prior findings about the R&D-firm size relationship, as well as additional features of the R&D-firm size relationship, implying an advantage to large size in R&D.
Опубликовано на портале: 12-07-2007Daron K. Acemoglu, Jörn-Steffen Pischke Economic Journal. 1999. Vol. 109. No. 453. P. 112-42.
In this paper, the authors survey noncompetitive theories of training. With competitive labor markets, firms never pay for investments in general training, whereas when labor markets are imperfect, firm-sponsored training arises as an equilibrium phenomenon. The authors discuss a variety of evidence that supports the predictions of noncompetitive theories and they draw some tentative policy conclusions from these models.
Bubbles and Crises [статья]
Опубликовано на портале: 16-03-2005Franklin Allen, Douglas Gale Economic Journal. 2000. Vol. 110. No. 460. P. 236-255.
In recent financial crises a bubble, in which asset prices rise, is followed by a collapse and widespread default. Bubbles are caused by agency relationships in the banking sector. Investors use money borrowed from banks to invest in risky assets, which are relatively attractive because investors can avoid losses in low payoff states by defaulting on the loan. This risk shifting leads investors to bid up the asset prices. Risk can originate in both the real and financial sectors. Financial fragility occurs when positive credit expansion is insufficient to prevent a crisis.
Опубликовано на портале: 31-03-2003Domenico Mario Nuti Economic Journal. 1970. Vol. 80. P. 32-57 .
The purpose of this paper is that of considering the choice of production techniques from the point of view of both the capitalist entrepreneur maximising the present value of his firm's assets at a given interest rate and the socialist planner maximising the consumption per head associated with the maintenance of a given growth rate. A model of production is set up, in which output is made of a versatile consumption and production good, called putty, and of the machines which are made of putty and are necessary to assist labour in order to produce putty. It is assumed that technical choice is irreversible, i.e., that putty is moulded and baked into clay machines of given specifications, which cannot be turned back into putty or into machines of different specifications. Also, their use is not affected by technical progress, which improves the design of new machines but not the operation of those already constructed. The assumption of the costless transformation putty into clay and the use of gross measures evade this fundamental issue of capital theory. [Авторский текст]
Опубликовано на портале: 06-02-2007Alan B. Krueger Economic Journal. 2003. Vol. 113. No. 485. P. 34-63.
This paper examines evidence on the effect of class size on student achievement. First, it is shown that results of quantitative summaries of the literature, such as Hanushek (1997), depend critically on whether studies are accorded equal weight. When studies are given equal weight, resources are systematically related to student achievement. When weights are in proportion to their number of estimates, resources and achievements are not systematically related. Second, a cost-benefit analysis of class size reduction is performed. Results of the Tennessee STAR class-size experiment suggest that the internal rate of return from reducing class size from 22 to 15 students is around 6%.
Опубликовано на портале: 18-03-2003Mai Chao-cheng Economic Journal. 1982. Vol. 49. No. 1. P. 242-245.
Joan Robinson  in her classic book, Economics of Imperfect Competition, developed a concept of "adjusted concavity" as a criterion for comparing firm's output under discriminatory and simple monopoly pricing. In a recent paper in this Journal, Ekelund, Higgins and Smithson  extended this neoclassical theory of price discrimination to the hiring of inputs. Ekelund, Higgins and Smithson show that if workers could be segregated into two markets, then the labor supply curves as both concave (convex), monopsonistic discrimination will provide higher total employment if the relatively elastic supply curve has a lower adjusted concavity. This result is valid evaluated at the discriminating equilibrium (or in a small neighborhood around this equilibrium). However, evaluating at the simple (non-discriminating) equilibrium, if the supply curves are both concave, an additional condition is required. In section II of this paper, the basic model is developed. Section III conducts the comparative static analysis to analyze the effect on employment of a constraint on wage discrimination. [Авторский текст]
Опубликовано на портале: 02-10-2003Joan Robinson Economic Journal. 1934. Vol. 44. No. 175. P. 398-414.
It is characteristic of the development of the economic theory that proposition which appears very simple when we have arrived at them should be first sighted through a haze of ambiguities and approached only by a labyrinth of devious controversy. On this curious process the history of the famous "adding-up problem" provides a strikimg examples. As soon as it began to be asserted that factors of production are paid in accordance with their marginal products, the problem was posed: How do we know that, if each factor is paid its marginal product, the total products is disposed of with out residue, positive or negative? Of course it is obvious that in any case the total products is distributed among the factors of production.
Опубликовано на портале: 07-02-2003B. Curtis Eaton, Richard G. Lipsey Economic Journal. 1978. Vol. 88. No. 351. P. 455-69.
We have demonstrated that zero pure profit is not a necessary condition of free-entry equilibrium in a model in which the market is spatially extended and longrun cost curves decline over some initial range. We have shown that neither price competition among existing firms nor the entry of new firms will necessarily drive profits to zero. This is true even when firms assume that they can cut their own price without reaction from their competitors, and when new entrants rationally calculate whether or not their entry will force existing firms to relocate. We have further shown, in a specific example, that rates of return on capital of up to twice the competitive rate are possible in free-entry equilibrium. The model of this paper is formulated in terms of geographical differentiation among firms. There would seem, however, to be significant applications to product differentiation, where firms sell products with different locations in characteristics space, and a new product fitting in between two established ones must expect a market significantly smaller than those obtained by "neighbouring" products before entry. For a discussion of some of the issues involved in handling monopolistic competition in characteristic space see Archibald and Kosenbluth (1975) and for a practical application that uses some of the properties developed in our model see Schmalensee (1977). [Авторский текст]
Опубликовано на портале: 31-03-2003George C. Archibald Economic Journal. 1967. Vol. 77. No. 306. P. 405-412.
Comments on suggestions and arguments of Demsetz on the theory of monopolistic competition and returns of scale in the United States. Involvement of excess capacity in tangency solution; Inconsistency of the evidence on returns to scale with the notion on the manufacturing industry; Characteristics of average cost curves. (From Ebsco)
Опубликовано на портале: 31-03-2003Joseph Hadar Economic Journal. 1969. Vol. 36. No. 1. P. 67-74.
The main results of the analysis can be briefly summarized. It was shown that it is possible to specify the nature of the effects of advertising on the demand function of a monopolistically competitive firm in a fashion which leads to meaningful and testable hypotheses. The approach followed in this paper produced a model in which the effects of changes in the shift parameters on the levels of output and advertising are always determinate. Furthermore, we saw that if the firm is a competitive buyer of advertising, then it turns out that the advertising ratio is invariant to changes in parameters belonging to a certain class, an example of which is an excise tax. Changes in parameters in the latter class also result in a predictable 4 Sufficient conditions for stability of much an adjustment process are given in Hadar . change in the price of the firm's output, since the price always moves in a direction opposite to that of the change in output whenever output and advertising change by the same proportion. [Авторский текст]
Опубликовано на портале: 31-03-2003G.L.S. Shackle Economic Journal. 1954. Vol. 64. No. 253. P. 116-23.
Статья представляет собой обзор книги "An Essay in the Theory of Profits and Income Distribution", изданной в 1953 году.
The Effect of Attending a Small Class in the Early Grades on College-Test Taking and Middle School Test Results: Evidence from Project STAR [статья]
Опубликовано на портале: 05-02-2007Alan B. Krueger, Diane Whitmore Schanzenbach Economic Journal. 2001. Vol. 111. No. 468. P. 1-28.
This paper provides a long-term follow-up analysis of students who participated in the Tennessee STAR experiment. In this experiment, students and their teachers were randomly assigned to small, regular-size, or regular-size classes with a teacher aide in the first four years of school. We analyse the effect of past attendance in small classes on student test scores and whether they took the ACT or SAT college entrance exam. Attending a small class in the early grades is associated with an increased likelihood of taking a college-entrance exam, especially among minority students, and somewhat higher test scores.
The social costs of monopoly power [статья]
Опубликовано на портале: 07-02-2003Keith Cowling, Dennis C. Mueller Economic Journal. 1978. Vol. 88. No. 352. P. 727-748.
In 1954, Arnold Harberger estimated the welfare losses from monopoly for the United States at o.i of 1% of GNP. Several studies have appeared since, reconfirming Harberger's early low estimates using different assumptions. The present paper levels several objections against the Harberger-type approach. It then calculates estimates of the welfare loss from monopoly using procedures derived to meet these objections, and obtains estimates significantly greater than those of previous studies. Although several of the objections we make have been made by other writers, none has systematically adjusted the basic Harberger technique to take them into account. Thus all previous estimates of monopoly welfare losses suffer in varying degrees from the same biases incorporated in Harberger's original estimates. We present estimates for both the United States and the United Kingdom based on data gathered at the firm level. [Авторский текст]
Опубликовано на портале: 01-10-2003Harold Demsetz Economic Journal. 1964. Vol. 74. No. 295. P. 623-641.
Статья является продолжением статьи Демсеца 1959 года и сосредотачивается на анализе аспектов теории благосостояния применительно к модели монополистической конкуренции, а также на выработке таких характеристик данной модели, которые поддавались бы эмпирической проверке. В рамках статьи доказывается, что положения о неизбежном наличии в ситуации равновесия на рынке монополистической конкуренции "избыточных мощностей", а также о негативном влиянии продуктовой дифференциации на экономическую эффективность являются необоснованными.
Рецензия на книги "Стоимость, капитал и рента в новой теории национальной экономики" Кнута Викселля и "Очерки о согласовании законов распределения" Ф. Г. Уикстида [статья]
Опубликовано на портале: 19-11-2004L.U. Flux Economic Journal. 1894. Vol. 4. No. 14. P. 305-313.
В статье обсуждаются две указанные работы, а также актуальные вопросы теории распределения (теорию предельной производительности, проблему исчерпания и т. д.)