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on Heterodox Microeconomics |
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Issue of 2024–11–04
twenty papers chosen by Carlo D’Ippoliti, Università degli Studi di Roma “La Sapienza” |
| By: | Alberto Botta; Eugenio Caverzasi; Daniele Tori |
| Abstract: | In this paper, we analyze the role of financialization, namely securitization and the production of structured financial products, within the functioning of a monetary capitalist economy of production. We do this by embedding such ‘financial innovations’ in an extended financialized monetary circuit. We complement this theoretical analysis with data about the evolution of the commercial banks in the US economy since the end of World War II. We show how the ‘financial side of financialization’, by allowing commercial banks to extend more credit to the economy, and household sector in particular, may have significantly contributed to the monetization of surplus value in neoliberal capitalist regimes. In this sense, we stress how financialization appears to be fully consistent rather than dysfunctional to the needs of capitalist economies. We also note that this may come at the cost of heightened systemic fragility. While financialization may enable capitalist system to monetize profits more easily, it also modifies the structure of the pyramid of money hierarchy and favor the expansion of what has been defined as ‘fictitious liquidity’ relative to bank money. In our view, this last contradiction, can make capitalist economies more exposed to in-depth macro-financial instability as soon as financial turmoil emerges. |
| Keywords: | monetary circuit theory, financialization, profits, class conflict |
| JEL: | B50 E11 E12 E44 |
| Date: | 2024–10 |
| URL: | https://d.repec.org/n?u=RePEc:pke:wpaper:pkwp2413 |
| By: | Koen Frenken; Frank Neffke; ; ; |
| Abstract: | The global economy operates as a complex system that allocates resources in a decentralized way across myriad agents. Over time, it exhibits an impressive rate of collective learning as evidenced by its growing productivity and the expanding variety of output it generates. However, growth, productivity and learning are not distributed equally across locations. On the contrary, wealth, opportunity, economic activity and innovation tend to all concentrate in a relatively small number of affluent places. Various strands of complexity Science have contributed to our understanding of these phenomena. However, they have done so in disconnected debates and communities. In this chapter, we use the framework of Economic Complexity to synthesize insights derived from three distinct literatures: urban scaling, evolutionary economic geography and global production networks. Economic complexity proposes that production requires access to capabilities, such that increasing the variety of economic production requires acquiring or accessing new capabilities. From this synthesis, we derive a research agenda that aims to understand how local economies develop, not only as individual units exploring their adjacent possible, but as parts of a system that allows local economies to mix their capabilities with those of distant counterparts by relying on the interplay of multinational corporations, global value chains and institutions to coordinate interactions at the local and global scale. |
| Date: | 2024–10 |
| URL: | https://d.repec.org/n?u=RePEc:egu:wpaper:2431 |
| By: | Marcin Rzeszutek (Faculty of Psychology [Warsaw] - UW - University of Warsaw); Jørgen Vitting Andersen (UP1 - Université Paris 1 Panthéon-Sorbonne, CES - Centre d'économie de la Sorbonne - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique); Adam Szyszka; Szymon Talaga (The Robert B. Zajonc Institute for Social Studies - UW - University of Warsaw) |
| Abstract: | This study aimed to connect the behavioral corporate finance perspective (micro level) with complexity theory via agent-based modeling to analyze the impact of selected psychological factors of chief executive officers (CEOs) on stock market volatility (macro level). Specifically, we wanted to explore whether Polish CEOs' subjective well-being (SWB) influenced their managerial decisions during the COVID-19 pandemic and how it might be related to the volatility of stock prices during this critical period in Poland. Our study was based on a survey of Polish CEOs who managed companies listed on the Warsaw Stock Exchange. In particular, 255 CEOs completed the Satisfaction with Life Scale, the Positive and Negative Affect Scale, and a business survey on the impact of the COVID-19 pandemic on company management. Using the results of this survey, we built an agent-based model to investigate how CEOs' decision-making, stemming from their SWB levels, influences the perception of prices by individual traders and, in turn, how it is translated into aggregate stock market volatility. The results indicate the pathways through which the microscopic-level SWB of CEOs influences market price formation at a macroscopic level. The findings obtained from our model may shed new light on the rational expectations theory applied to stock market volatility during the financial crisis. |
| Keywords: | Subjective well-being, CEO, COVID-19, Stock market volatility, Rational expectations theory, Agent-based model |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:hal:cesptp:hal-04723512 |
| By: | Alexandre Truc (Université Côte d'Azur, CNRS, GREDEG, France); François Claveau (Université de Sherbrooke); Catherine Herfeld (Leibniz University Hannover, Germany); Vincent Larivière (Université de Montréal, Canada) |
| Abstract: | This study examines gender diversity among authors in philosophy and methodology of economics, comparing it to the disciplines of economics and philosophy. Using bibliometric methods, we find that philosophy and methodology of economics, as an interdisciplinary field, consistently had a lower share of women authors than its parent disciplines, which are the two social sciences and humanities disciplines that are the furthest from gender parity. Although homogeneity compounding generally characterizes the whole field of philosophy and methodology of economics, one small and temporary subfield, making contributions to heterodox economics, structural realism, and the discussion on pluralism in economics, constituted a pocket of gender diversity. Alongside a more general discussion of possible reasons behind the striking gender imbalance in the field, we also elaborate on possible reasons for the limited size and duration of this pocket of diversity. |
| Keywords: | Gender, Scientometrics, Philosophy of economics, Methodology of Economics |
| JEL: | B4 J16 |
| Date: | 2024–09 |
| URL: | https://d.repec.org/n?u=RePEc:gre:wpaper:2024-25 |
| By: | Lécureur, Clairelou |
| Abstract: | This first issue of the Enseignements du Lab collection provides a transversal reading of the results of four collective projects linked to the ecological transition in working-class neighbourhoods. It focuses on the sociological dimension of the climate crisis and, more specifically, on environmental inequalities. The link between environmental issues and inequalities is not new, but it is increasingly being studied, mainly through the prism of working-class neighbourhoods. Indeed, residents of low-income urban areas are more vulnerable to the consequences of climate change. And this, even though they contribute to it the least, through their consumption. After presenting the specific context and potential of working-class neighbourhoods to contribute to the social and ecological transition, this publication answers the following question: what actions are possible in working-class neighbourhoods to address environmental inequalities and move towards greater environmental justice? |
| Date: | 2024–10–11 |
| URL: | https://d.repec.org/n?u=RePEc:osf:socarx:d4pwh |
| By: | Janischewski, Anja; Bohnenberger, Katharina; Kranke, Matthias; Vogel, Tobias; Driouich, Riwan; Froese, Tobias; Gerold, Stefanie; Kaufmann, Raphael; Keyßer, Lorenz; Niethammer, Jannis; Olk, Christopher; Schmelzer, Matthias; Yürük, Aslı; Lange, Steffen |
| Abstract: | Many socio-economic systems require positive economic growth rates to function properly. Given uncertainty about future growth rates and increasing evidence that economic growth is a driver of social and environmental crises, these growth dependencies pose serious societal challenges. In recent years, more and more researchers have thus tried to identify growth-dependent systems and develop policies to reduce their growth dependence. However, the concept of “growth dependence” still lacks a consistent definition and operationalization, which impedes more systematic empirical and theoretical research. This article proposes a simple but powerful framework for defining and operationalizing the concept of “growth dependence” across socio-economic systems. We provide a general definition consisting of four components that can be specified for different empirical cases: (1) the system under investigation, (2) the unit of measurement of growth, (3) the level of growth and (4) the relevant functions or properties of the system under investigation. According to our general definition, a socio-economic system is growth-dependent if it requires a long-term positive growth rate in terms of a unit of economic measurement to maintain all its functions or properties that are relevant within the chosen normative framework. To illustrate the usefulness of our scheme, we apply it to three areas at the heart of the existing literature on growth dependence: employment, social insurance systems and public finance. These case studies demonstrate that whether or not a system is growth-dependent hinges not only on the empirical properties of the system itself but also on the specification of the concept of growth dependence. Our framework enables coherent, robust and effective definitions and research questions, fostering comparability of findings across different cases and disciplines. Better research can lead to better policies for reducing growth dependence and thus achieving stable and sustainable economies. |
| Keywords: | growth dependence, growth independence, post-growth, green growth, degrowth, growth imperative |
| JEL: | O44 Q01 |
| Date: | 2024–09–19 |
| URL: | https://d.repec.org/n?u=RePEc:pra:mprapa:121787 |
| By: | Flora Bellone (Université Côte d'Azur, CNRS, GREDEG, France; OFCE, SciencePo); Arnaud Persenda (Université Côte d'Azur, CNRS, GREDEG, France); Paolo Zeppini (Université Côte d'Azur, CNRS, GREDEG, France; University of Bath, UK) |
| Abstract: | In this paper we revisit the emergence of China as a dominant player within the world economy by using the innovative framework of autocatalytic networks. Specifically, we build and apply an autocatalylic sets detection algorithm to a world input-output (IO) network built from the WIOD database, covering the 2000-2014 period. From this analysis, we identify two key turning points in the course of China development: First, the year 2005, when a Chinese densifying local autocatalytic set branched to a global one, unraveling the complementarity between domestic and international cyclical IO connections in the course of China development. Second, the year 2013, when key Chinese industries replace their U.S. counterparts at the core of the global autocatalytic set, revealing an economic rivalry between these two large economies specifically for their role and position in the global production network. |
| Keywords: | Autocatalytic networks, Trade, Input-Output tables, China |
| JEL: | F63 O14 D57 |
| Date: | 2024–09 |
| URL: | https://d.repec.org/n?u=RePEc:gre:wpaper:2024-26 |
| By: | Eduardo Hernandez-Rodriguez; Ron Boschma; Andrea Morrison; Xianjia Ye; |
| Abstract: | This paper studies the role of complementary interregional value chain linkages in functional upgrading and downgrading in global value chains in EU regions. It adopts an evolutionary approach to assess functional upgrading and downgrading using relatedness and economic complexity metrics. The empirical analysis of 199 EU regions between the years 2000-2010 shows that, while local capabilities remain crucial, complementary interregional value chain linkages increase (decrease) the likelihood of functional upgrading (downgrading) in GVCs. Regions engaged in GVCs in which partner regions offer complementary capabilities are more likely to specialise in more complex functions and to retain such specialisations over time. By doing so, this paper proposes a new theoretical-analytical framework to identify partner regions that can offer complementary capabilities in GVCs. |
| Keywords: | Global value chains, upgrading/downgrading, interregional linkages, complementary capabilities, EU regions |
| JEL: | F14 F63 O19 R11 R12 |
| Date: | 2024–10 |
| URL: | https://d.repec.org/n?u=RePEc:egu:wpaper:2432 |
| By: | François Claveau (Université de Sherbrooke); Jacob Hamel-Mottiez (Université Laval); Alexandre Truc (Université Côte d'Azur, CNRS, GREDEG, France); Conrad Heilmann (Erasmus University Rotterdam) |
| Abstract: | We present bibliometric evidence for increasing estrangement between the philosophy of economics and economics itself. Our analysis centers on research articles published in the Journal of Economic Methodology (JEM) between 1994 and 2021. We analyze the citations within these research articles, in particular with respect to the citations of economics. Our results are fourfold. (1) The share of economic citations in JEM articles has been decreasing. (2) The remaining economic citations in JEM articles are increasingly older relative to citation patterns within economics. (3) The profile of economic citations in JEM articles is increasingly dissimilar when compared to what is cited within economics. (4) There is decreasing diversity with regards to the share of attention towards different economic subfields in the articles published in JEM when compared to economics. We discuss interpretations of this evidence for estrangement between philosophy of economics and economics. |
| Keywords: | Scientometrics, bibliometrics, digital humanities, diversity, philosophy of economics, economic methodology |
| JEL: | B4 B20 |
| Date: | 2024–09 |
| URL: | https://d.repec.org/n?u=RePEc:gre:wpaper:2024-24 |
| By: | Tony ShunTe Yuo; Tai-Hsi Wu; Yu-An Yang |
| Abstract: | The analytical model of the social-ecological system structure is designed to explore spatial environmental performance from a holistic, complex, dynamic, network-oriented, and nonlinear perspective. In this research, we employ the Social-Ecological System (SES) framework proposed by Ostrom (2009) and McGinnis and Ostrom (2014) to construct a model capturing the characteristics of Taiwan's real estate market in relation to social and ecological spatial diversity. Utilizing Dynamic Network Data Envelopment Analysis (DNDEA), we conduct performance measurements for the SES model. This framework encompasses various real estate market features, including resource systems, ecological and environmental indicators, government governance, and characteristics of real estate market sectors. The study observes dynamic interactions over multiple years. By incorporating assessments of indicators such as social, industrial, energy, ecological, pollution, and healthcare, central and local governments can optimize relevant policies based on comprehensive social and ecological characteristics in addressing the real estate market.This research is funded by the Ministry of Science and Technology: 111-2410-H-305 -055 -MY2McGinnis, M. D., & Ostrom, E. (2014). Social-ecological system framework: initial changes and continuing challenges. Ecology and Society, 19(2).Ostrom, E. (2009). A general framework for analyzing sustainability of social-ecological systems. Science, 325(5939), 419-422. |
| Keywords: | ESG in Real Estate; Human and Environment coupled; Social-Ecological System; Sustainable Development |
| JEL: | R3 |
| Date: | 2024–01–01 |
| URL: | https://d.repec.org/n?u=RePEc:arz:wpaper:eres2024-074 |
| By: | Dilger, Alexander |
| Abstract: | In diesem Korreferat zu dem Beitrag 'Ökonomische Bildung in der Sozialen Marktwirtschaft' von Nils Goldschmidt und Marco Rehm werden zuerst die Hauptpunkte ihrer Argumentation herausgestellt und danach kritisch betrachtet. Die Ordonomik von Ingo Pies erscheint zu eng und kontrovers für allgemeinbildende Schule, könnte jedoch als ein Element die ökonomische Bildung bereichern, die nicht dogmatisch, sondern tolerant und pluralistisch die Grundlagen der sozialen Marktwirtschaft vermitteln sollte. |
| Abstract: | In this discussion of the article 'Economic Education in the Social Market Economy' by Nils Goldschmidt and Marco Rehm, the main points of their argument are first highlighted and then critically examined. Ingo Pies's Ordonomics appears to be too narrow and controversial for general education schools, but could enrich economic education as an element, which should teach the basics of the social market economy in a tolerant and pluralistic instead of dogmatic way. |
| Keywords: | Gefangenendilemma, Kompromiss, ökonomische Bildung, Ordonomik, sozialeMarktwirtschaft |
| JEL: | A11 A21 B59 C72 D70 F10 P10 |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:umiodp:304302 |
| By: | Christian Walter (LAP - Laboratoire d’anthropologie politique – Approches interdisciplinaires et critiques des mondes contemporains, UMR 8177 - EHESS - École des hautes études en sciences sociales - CNRS - Centre National de la Recherche Scientifique) |
| Abstract: | If the crisis of 2008 has revealed a failure of the organizational model of finance and of the operating scheme of the funding of the economy, another failure has also existed, albeit less apparent, that of a mental model translating representations of chance into mathematical hypotheses on financial risk. The two models are linked insofar as specific mental choices about the representation of chance have led to particular organizational choices, attitudes towards uncertainty and ways of acting whose damaging consequences are precisely those that the international community has tried to remedy. It is therefore to an understanding of the role played by representations of chance in the triggering of the 2008 crisis that this appendix to this chapter invites us. |
| Keywords: | Chance in literature, Brownian Motion, Finance Discourse, Financial Mathematics, Performativity, 2008 Financial Crisis |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-04702850 |
| By: | Frank Neffke; Angelica Sbardella; Ulrich Schetter; Andrea Tacchella; |
| Abstract: | Economic complexity analysis (ECA) is a newly emerging research program that aims to understand what determines the set of goods and services that a country can make, and how this set changes over time. At its core, this research program assumes that production of a given good or service requires a combination of fine- grained and highly complementary capabilities. As a consequence, economic growth is driven by a process of diversification that is enabled by the acquisition of capa- bilities. This chapter traces the intellectual antecedents and origins of ECA and illustrates core tenets in a simple model of production that is analyzed using com- plex network theory. It then reviews current debates surrounding core concepts in the field – in particular measures of relatedness and complexity of economic ac- tivities – and reflects on policy implications. We conclude by sketching a broad research agenda, identifying five key areas: (1) relaxing overly restrictive assump- tions of current models, (2) better connecting ECA to debates in the wider field of economics, (3) exploring connections across scales, from countries to cities to firms, (4) addressing questions related to capability coordination, and (5) developing ap- plications to important large-scale societal transitions, such as the green transition and the digitization of work. |
| Date: | 2024–10 |
| URL: | https://d.repec.org/n?u=RePEc:egu:wpaper:2430 |
| By: | Stephen F. Hamilton (Department of Economics, California Polytechnic State University); Benjamin Ouvrard (Grenoble Applied Economics Laboratory) |
| Abstract: | Fair pricing standards are used in various industries, encompassing fair trade, labor practices, and state-regulated pricing. We demonstrate that fair pricing can serve as a vertical restraint by a dominant manufacturer on its retailers to fully coordinating prices in a multi-product distribution channel with fair priced and conventional goods. We identify buyer market power by the manufacturer in the upstream market as a novel role for a manufacturer to impose a vertical restraint on retailers in the downstream market, and characterize the vertical restraint that maximizes collective rents in terms of demand-side and supply-side diversion ratios. |
| Keywords: | Fair pricing; vertical restraint; buyer market power |
| JEL: | L13 L14 L42 D43 |
| Date: | 2023 |
| URL: | https://d.repec.org/n?u=RePEc:cpl:wpaper:2402 |
| By: | Rosas Martinez, Victor Hugo |
| Abstract: | To introduce the limit to economic growth and development, first history of economic thought precedents are put forward, later re versing to formal issues that elaborate upon previous work, which ad dress the mécaniques-geometries at the reductionist-holistic economy cicle (introducing an economic growth measurement space conceived by the limit), essentially allowing access to an innovative research agenda that reswitches to overcoming multidimensional deprivations through a non depending on initial conditions poverty traps mathematical economic analysis, which provides a proof of existence and smoothness to the solution of the Navier-Stokes equations, as well issuing explanations, examples, and the necessity for including conscience on heterodox neuroeconomics related geodesics calibrations |
| Keywords: | Navier-Stokes; Smoothness; Existence; Economic Growth; Development |
| JEL: | B16 B30 C00 |
| Date: | 2024–10–06 |
| URL: | https://d.repec.org/n?u=RePEc:pra:mprapa:122307 |
| By: | Kane, Papa Abdoulaye; Barry, Mamadou Bobo; Eissler, Sarah; Tall, Thiané; Camara, Astou Diao; Sall, Moussa; Fass, Simone; Bryan, Elizabeth; Ringler, Claudia |
| Abstract: | Goats are an important source of income, nutrition and resilience in Senegal. This study assesses opportunities to strengthen women’s agency, increase resilience to climate change, and improve nutrition along the various stages of goat value chains from the acquisition of feed resources and other inputs to processing, marketing and consumption of various goat products. The qualitative study finds that even though goats are more climate resilient than other livestock, climate change impacts on goat production and productivity are increasingly felt, particularly through impacts on feed resources. The study identified opportunities to strengthen women’s roles along the goat value chain, particularly in goat production and, to a lesser extent, in processing of goat products. Women and their families also benefit from the consumption of goat milk and women have some degree of control over income from the sale of goat products. Strengthening women’s agency in these nutrient-rich and relatively climate-resilient value chains will require improving their access to land resources and better animal feeds, supporting women’s groups and building women’s capacity for processing and marketing goat products, improving access to electricity for cold storage of goat products, and raising awareness regarding the nutritional benefits of goat products, especially for women and children. |
| Keywords: | climate change; goats; nutrition; climate resilience; value chains; women’s empowerment; gender; Africa; Western Africa; Senegal |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:fpr:ifprid:2274 |
| By: | Thiago Christiano Silva; Sergio Rubens Stancato de Souza; Solange Maria Guerra; Iuri Lazier; Rodrigo Cesar de Castro Miranda |
| Abstract: | This paper uses a network-based framework to examine the propagation of exchange rate shocks through the economy. We use a comprehensive set of supervisory, granular, and unique datasets from Brazil to construct an economy-wide network of exposures from 2015 to 2022, which includes a representative set of financial institutions, both banking and nonbanking, the corporate sector, and bilateral exposure linkages encompassing credit and funding risks. Our findings reveal significant disparities in how exchange rate shocks impact different sectors. Financial institutions generally benefit from positive exchange rate shocks due to their net foreign-denominated assets, whereas nonfinancial firms incur losses, particularly those with substantial foreign debt. However, contagion effects indicate that even sectors that are initially better off can experience substantial indirect losses, highlighting the complexity of risks in the financial network. Despite vulnerabilities in segments such as development banks and non-bank financial institutions, adequate regulatory capital maintains and supports overall financial stability. These insights underscore the importance of incorporating network structures in regulatory frameworks and stress-testing methodologies, offering crucial implications for policymakers seeking to improve financial stability and mitigate systemic risks. |
| Date: | 2024–10 |
| URL: | https://d.repec.org/n?u=RePEc:bcb:wpaper:605 |
| By: | Calderón García, Jessica; Vaquier Ramírez, Ricardo |
| Abstract: | El objetivo del presente trabajo es analizar la "felicidad" desde una perspectiva axiológica, jurídica, social y económica. La metodología incluye la revisión de marcos jurídicos e informes sobre la felicidad. Se observa que la felicidad no está reconocida como un derecho humano propiamente; sin embargo, la ONU la considera clave para el desarrollo holístico. Índices como el de desarrollo humano, de felicidad en el mundo y el de felicidad nacional de Bután muestran diferentes enfoques sobre la felicidad y el bienestar. Las propuestas de este ensayo incluyen reconocer la felicidad como elemento clave de los derechos humanos, diseñar políticas públicas que promuevan la felicidad y su medición acertada considerando valores locales e indicadores, así como diferenciar entre dignidad humana, crecimiento económico y felicidad. |
| Keywords: | Felicidad; Indicadores; Desarrollo Humano; Derechos Humanos; |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:nmp:nuland:4185 |
| By: | Benoit Dostie; Genevieve Dufour |
| Abstract: | To what extent is the increase in inequality in business productivity reflected in wage inequality? The answer essentially depends on the degree to which productivity differentials are transmitted into wage differentials. In this study, the authors examine this issue using data from the Canadian Employer-Employee Dynamics Database (CEEDD) for the period 2001–2019 and identify a set of stylized facts. From 2001 to 2019, there has been an unequivocal increase in productivity inequalities between firms in Quebec, a result that is consistent with we observe in a number of other countries. This upward trend is greater in Quebec than in Ontario. It is interesting to compare this rise in productivity inequality with the decrease in income inequality. One possible explanation is that the transmission of productivity differences to income differences also decreased over the period. A number of possibilities could explain this decrease, and one of them would be a decrease in labour mobility. The authors examine this issue by decomposing productivity growth for the particular case of the manufacturing sector. They show that productivity growth in this sector is primarily driven by within-firm productivity growth. Labour reallocation and net input do not contribute much to productivity growth. Dans quelle mesure l’augmentation des inégalités dans la productivité des entreprises se reflète-t-elle dans les inégalités de salaires?? La réponse dépend essentiellement du degré de transmission des différentiels de productivité en différentiels salariaux. Dans cette étude, les auteurs examinent cette question à partir des données de la Base de données canadienne sur la dynamique employeurs-employés (BDCEE) pour la période 2001-2019 et dégagent un ensemble de faits stylisés. De 2001 à 2019, on observe une hausse sans équivoque des inégalités de productivité entre les entreprises au Québec, un résultat conforme à ce qu'on observe dans plusieurs autres pays. Cette tendance à la hausse est plus importante au Québec qu'en Ontario. Il est intéressant de contraster cette hausse des inégalités de productivité à la baisse des inégalités de revenus. Une explication possible est que la transmission des différences de productivité en différences de revenus ait aussi diminué au cours de la période. Plusieurs possibilités pourraient expliquer cette diminution et l’une d’elles serait une diminution de la mobilité de la main-d’œuvre. Les auteurs examinent cette question en effectuant des décompositions de la croissance de la productivité pour le cas particulier du secteur manufacturier. Ils montrent que la croissance de la productivité dans ce secteur provient très majoritairement de la croissance de la productivité à l’intérieur de l’entreprise. La réallocation de main-d’œuvre et l’effet net d’entrée contribuent assez peu à la croissance de la productivité. |
| Keywords: | Productivity, Inequality, Companies, Labour market, Productivité, Inégalités, Entreprises, Marché du travail |
| Date: | 2024–10–15 |
| URL: | https://d.repec.org/n?u=RePEc:cir:cirpro:2024rp-19 |
| By: | Dusel, Sara; Wieck, Christine |
| Abstract: | Cost-benefit analysis and social welfare functions are two closely related methods to evaluate impacts of policies on humans (producers, consumers etc.) and animals. In cost-benefit analysis, the impacts on animals are currently either disclosed as intangible impacts or monetised from the human (anthropocentric) perspective through production costs, revenues and willingness to pay. Social welfare functions are more flexible to aggregate and trade-off impacts on animals, but they are not yet applied in practice. In the literature, advances have been made to monetise policy impacts from the animals’ (non-anthropocentric) perspective and to include animals in social welfare functions. Yet, policy analysts who seek to implement any of these approaches in practice face substantial challenges because the available studies differ considerably in the methodologies and underlying normative assumptions. We conduct a critical review of the scientific and grey literature with the aim to synthesise the available material, to facilitate an informed debate on conflicting normative assumptions, and to eventually guide the practical application of non-anthropocentric cost-benefit analysis and social welfare functions. The results of the critical review are presented in the form of a checklist that allows to better comprehend key steps of the methodologies. Step-by-step, the checklist gives an overview of the alternative options and normative assumptions in the literature, and points to any remaining research gaps. Beside the academic debate, this is relevant for practical policy analysts who need to make methodological choices for their policy questions at hand. |
| Keywords: | Agricultural and Food Policy |
| Date: | 2024–10–01 |
| URL: | https://d.repec.org/n?u=RePEc:ags:uhgewp:347466 |