|
on Heterodox Microeconomics |
|
Issue of 2022‒05‒02
eleven papers chosen by Carlo D’Ippoliti Università degli Studi di Roma “La Sapienza” |
| By: | Wade, Robert H. |
| Abstract: | Deep society-wide crises tend to produce new economic thinking. 2020 familiarized many millions with trauma and loss. It also intensified the questioning – already started by the North Atlantic Financial Crisis (NAFC) of 2007-12 and by the dramatic rise of China on world technology and military frontiers – of the conservative ideology or world view which has dominated the economics profession and economic statecraft across the capitalist world for the past four decades – dominated as though simple common sense, quietly transforming western societies. This essay discusses the content of emerging thinking about the role of the state, and causes of the changes. But first, more on where we are coming from: from the deeply entrenched conservative ideology and its anti-government “intervention” in the economy. |
| Keywords: | industrial policy; neoliberalism; UK; US |
| JEL: | O20 O14 O38 |
| Date: | 2021–09–23 |
| URL: | http://d.repec.org/n?u=RePEc:ehl:lserod:113924&r= |
| By: | Vasarhelyi, Orsolya; Brooke, Siân |
| Abstract: | Studying gender presents unique challenges to data science. Recent work in the spirit of computational social science returns to critical approach to operationalisation providing a fresh perspective on this important topic. In this chapter we highlight works that examines gender computationally, describing how they employ levels of feminist theory to challenge gender inequality at the micro, meso, and macro level. We argue that paying critical attention to how we infer and analyze gender is fruitfully in understanding society and the contributions of research. We also present various sources and methods to infer gender and provide examples of the application of such methods. We conclude by outlining the way forward for computational methods in how gender and intersectional inequality is studied.This is a draft. The final version will be available in Handbook of Computational Social Science edited by Taha Yasseri, forthcoming 2023, Edward Elgar Publishing Ltd. The material cannot be used for any other purpose without further permission of the publisher and is for private use only. Please cite as: Vasarhelyi, O., & Brooke, S.(2023). Computing Gender. In: T. Yasseri (Ed.), Handbook of Computational Social Science. Edward Elgar Publishing Ltd. |
| Date: | 2022–04–08 |
| URL: | http://d.repec.org/n?u=RePEc:osf:socarx:admcs&r= |
| By: | Jan Schulz; Daniel M. Mayerhoffer; Anna Gebhard |
| Abstract: | Across income groups and countries, individual citizens perceive economic inequality spectacularly wrong. These misperceptions have far-reaching consequences, as it is perceived inequality, not actualinequality informing redistributive preferences. The prevalence of this phenomenon is independent of social class and welfare regime, which suggests the existence of a common mechanism behind public perceptions. The literature has identified several stylised facts on how individual perceptions respond to actual inequality and how these biases vary systematically along the income distribution. We propose a network-based explanation of perceived inequality building on recent advances in random geometric graph theory. The generating mechanism can replicate all of forementioned stylised facts simultaneously. It also produces social networks that exhibit salient features of real-world networks; namely, they cannot be statistically distinguished from small-world networks, testifying to the robustness of our approach. Our results, therefore, suggest that homophilic segregation is a promising candidate to explain inequality perceptions with strong implications for theories of consumption and voting behaviour. |
| Date: | 2022–03 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2203.14254&r= |
| By: | Jan Schulz; Daniel M. Mayerhoffer |
| Abstract: | The nexus between debt and inequality has attracted considerable scholarly attention in the wake of the global financial crisis. One prominent candidate to explain the striking co-evolution of income inequality and private debt in this period has been the theory of upward-looking consumption externalities leading to expenditure cascades. We propose a parsimonious model of upward-looking consumption at the micro level mediated by perception networks with empirically plausible topologies. This allows us to make sense of the ambiguous empirical literature on the relevance of this channel. Up to our knowledge, our approach is the first to make the reference group to which conspicuous consumption relates explicit. Our model, based purely on current income, replicates the major stylised facts regarding micro consumption behaviour and is thus observationally equivalent to the workhorse permanent income hypothesis, without facing its dual problem of `excess smoothness' and `excess sensitivity'. We also demonstrate that the network topology and segregation has a significant effect on consumption patterns which has so far been neglected. |
| Date: | 2022–03 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2203.14259&r= |
| By: | Thomas Palley |
| Abstract: | Oreiro and de Paula’s (2022) reply to my article (Palley, 2021) further convinces me that New Developmentalism (ND) substantially misconstrues the development challenge and ND’s policy recommendations lean in a Neoliberal direction. The critique of ND is not its emphasis of the importance of manufacturing. It is the regressive inclination, the narrowness of policy recommendations, neglect of the transformation dimension of development, and neglect of the implications of the shift to a post-industrial era. |
| Keywords: | New Developmentalism, Classical Developmentalism, economic development, transformation |
| JEL: | O11 O14 O23 |
| Date: | 2022–04 |
| URL: | http://d.repec.org/n?u=RePEc:pke:wpaper:pkwp2213&r= |
| By: | Arief, A. Anggie Zabrina |
| Abstract: | Types of cooperatives can be related to the characteristics, nature, economic function, field of business, and membership affiliation. Several types of cooperatives include; Rural Cooperatives, Agricultural Cooperatives, Livestock Cooperatives, Fisheries Cooperatives, Production Cooperatives, Consumption Cooperatives, Savings and Loans Cooperatives. While the form of cooperatives according to the cooperative law, cooperatives can be in the form of Primary Cooperatives and/or Secondary Cooperatives. While part of the hierarchy, not all types of cooperatives have 4 levels, many types of cooperatives only have 3 levels, such as village unit cooperatives (KUD) and employee cooperatives (KOPKAR). At the national level, KUD has a parent (INKUD), |
| Date: | 2022–03–31 |
| URL: | http://d.repec.org/n?u=RePEc:osf:osfxxx:5c97y&r= |
| By: | Arief, A. Anggie Zabrina |
| Abstract: | In general, cooperation between cooperatives and non-cooperatives is carried out by forming a new forum that is a legal entity. This cooperation is generally carried out by secondary cooperatives, especially at the parent level, such as the Parent Cooperative for Civil Servants, and several other parent cooperatives. In addition, cooperatives also establish cooperation in the field of business which aims to further advance the cooperative itself. Thus, we need to learn more about cooperative cooperation in the field of business. Apart from cooperation between cooperatives, there is also cooperation between cooperatives in the non-business sector. Basically, cooperative cooperation not in the field of business is a collaboration between cooperatives in Indonesia which aims to promote and unite cooperatives in Indonesia. Keywords: cooperatives, cooperative cooperation, cooperative cooperation in the field of non-business. |
| Date: | 2022–03–31 |
| URL: | http://d.repec.org/n?u=RePEc:osf:osfxxx:emz3g&r= |
| By: | Arief, A. Anggie Zabrina |
| Abstract: | Sharia cooperative is one of the non-governmental groups that aims as a people's economic institution to develop productive and investment businesses and improve living standards based on sharia principles. In the rapid development of Islamic cooperatives, Islamic cooperatives still have many obstacles in their development, both from internal and external sides. Meanwhile, MSME is a business or business whose actors are individuals, groups, or business entities. The classification in MSMEs is divided depending on the income or assets owned each year. Empowerment of micro, small and medium enterprises (MSMEs) and sharia cooperatives is a strategic step in improving and strengthening the basic economic life of the majority of the Indonesian people, particularly through providing employment opportunities and reducing inequality and poverty levels through sharia principles. |
| Date: | 2022–03–12 |
| URL: | http://d.repec.org/n?u=RePEc:osf:osfxxx:n6k4s&r= |
| By: | Klüh, Ulrich; Urban, Janina |
| Abstract: | What should be the role of the ECB in tackling the socio-ecological challenges related to planetary boundaries, such as climate change and loss of biodiversity? A clear answer to this question is still lacking, in spite of the strategy review of 2021. Regretfully, this review has not received the scrutiny it deserves, as the pandemic and the war in Ukraine have taken center stage. Taking these recent developments into account, we provide a critique of the new strategy. We argue that it lacks transformativity, as it subsumes climate change under the policy objective of price stability, assumes that transformations can be mastered within the structures of the past, and refrains from questioning the current institutional set up. In its main part, the paper discusses the historical relevance of what we believe is the main reason for these deficits: The fear that taking up the real issues (such as independence and accountability) would make the ECB a political football in times of rising inflation. Taking these fears seriously, we show that the institutionalization of central banking has always reflected the transformative dynamics of their time. Consequently, if planetary boundaries represent a transformative challenge, they will radically change the ECB, too. Moreover, we provide evidence that central banks' historical transformations have always reflected their peculiar position as mediators between the financial and the political realm. We argue that, at the current juncture, transforming central banking implies moving away from finance and towards politics. This involves risks. However, we argue that the historical experience offers few reasons to fear a closer integration of central banking into the public sphere, as long as the latter is dominated by democratic politics. Consequently, if one comes to the conclusion that the ECB's current corset is too narrow, it can and should be augmented. While we do not offer a blueprint for such augmentation, we conclude our analysis by sketching elements of a sustainable strategy for a transformative ECB. |
| Keywords: | Monetary Policy,Sustainability,Green Deal,Climate Policy,Central Bank Independence,Central Bank Accountability |
| JEL: | B15 B25 B26 B52 E02 E58 N2 |
| Date: | 2022 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:znwudp:9&r= |
| By: | Bernardo Alves Furtado; Gustavo Onofre Andre\~ao |
| Abstract: | Public Policies are not intrinsically positive or negative. Rather, policies provide varying levels of effects across different recipients. Methodologically, computational modeling enables the application of a combination of multiple influences on empirical data, thus allowing for heterogeneous response to policies. We use a random forest machine learning algorithm to emulate an agent-based model (ABM) and evaluate competing policies across 46 Metropolitan Regions (MRs) in Brazil. In doing so, we use input parameters and output indicators of 11,076 actual simulation runs and one million emulated runs. As a result, we obtain the optimal (and non-optimal) performance of each region over the policies. Optimum is defined as a combination of production and inequality indicators for the full ensemble of MRs. Results suggest that MRs already have embedded structures that favor optimal or non-optimal results, but they also illustrate which policy is more beneficial to each place. In addition to providing MR-specific policies' results, the use of machine learning to simulate an ABM reduces the computational burden, whereas allowing for a much larger variation among model parameters. The coherence of results within the context of larger uncertainty -- vis-\`a-vis those of the original ABM -- suggests an additional test of robustness of the model. At the same time the exercise indicates which parameters should policymakers intervene, in order to work towards optimum of MRs. |
| Date: | 2022–03 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2203.02576&r= |
| By: | khasanah, uswatun |
| Abstract: | koperasi syariahh adalah jenis koperasi yang mensejahterakan ekonomi para anggotanya sesuai norma dan moral Islam dan berguna untuk menciptakan persaudaraan dan keadilan yang sesuai dengan prinsip-prinsip Islam. UMKM juga memiliki fungsi untuk mendorong kondisi ekonomi menjadi rata. Bahkan perekonomian di pedesaan juga bisa meningkat, dengan adanya bantuan dari UMKM ini. Setiap orang bisa menjual berbagai macam produk, di rumah maupun di sekitar rumah, tanpa harus pergi keluar kota untuk menjual produknya. Kata kunci: Koperasi syariah, Fungsi UMKM Sharia cooperative is a type of cooperative that provides economic prosperity for its members according to Islamic norms and morals and is useful for creating brotherhood and justice in accordance with Islamic principles. MSMEs also have a function to encourage economic conditions to become even. Even the economy in rural areas can also improve, with the help of this MSME. Everyone can sell various kinds of products, at home or around the house, without having to go out of town to sell their products. |
| Date: | 2022–03–12 |
| URL: | http://d.repec.org/n?u=RePEc:osf:osfxxx:uh9j6&r= |