The Great Transition: Kuznets Facts for Family-Economists

The Historical Fertility Transition: A Guide for Economists

P to the historical fertility transition, which took place in most of Europe and North America between the late eighteenth and early twentieth centuries, married women could expect eight or more births. Today many women do not have children at all. For centuries, the elasticity of fertility with respect to incomes was positive. Today it is zero or even negative. The fertility transition forms a...

The great transition.

The great transition.

As China's economy grows and opens further, the opportunity it presents to multinationals is changing. Foreign companies are moving to country development and new strategic choices. Now, foreign firms can actually go after the Chinese domestic market, and it's worth going after. Improvements in China's infrastructure, workforce, and regulatory environment are making it possible for companies to...

Mathematicians as Great Economists : John Forbes Nash , Jr . Matthew

ly conceived, a two-person bargaining problem consists of a set of feasible contracts, with associated payoffs to each bargainer. As Edgeworth, von Neumann and Morgenstern, and others had observed, it is reasonable to suppose that the chosen contract will satisfy: • Efficiency: No other feasible contract offers both bargainers a higher payoff. However, this requirement typically leaves a large ...

Solution to “the Kuznets Riddle”

S. Kuznets's study that the average propensity to consume is a constant value were nexpected because they denied one of the basic provisions of the Keynesian theory. This fact was called "the riddle of Kuznets".  F. Modigliani and M. Friedman, using the hypothesis of the life cycle and the concept of constant income, proposed two options that explain its solution. But models should not explain,...