Stagflation, New Products, and Speculation *
نویسندگان
چکیده
The paper looks at the macrowonornic implications of some recent dwelopmetlts in the theory of industrial organization. In a Kalwkian model, firms are assumed IO invest heavily early in the procluct lift cycle, thus creating dective &mad. Conwrsely, it is assumed that late in the product life cyde firms honrd, waiting for new prodrwts in which to invest. IJndcr reasonable conditions, the rates of growth, unemployment, and inflation can be related to the fraction of new products in the economy.
منابع مشابه
Special-interest groups and growth
This paper explores empirically the relation between special-interest groups and economic growth. Our analysis exploits new data on the number of groups observed across countries and time, in order to mitigate the identification problems associated with earlier studies. Also in contrast to earlier work, we examine the impact of groups on two sources of growth—capital accumulation and technologi...
متن کاملThe Co-movement between Output and Prices: Evidence from Iran
This paper employs a multivariate dynamic conditional correlation GARCH model, which is developed by Engle (2001, 2002), to detect the timing and nature of changes in the comovement between Iranian output and prices for the periods after Iran–Iraq war , known as imposed war . The results showed that there is a weak correlation between output and prices after imposed war and varies periodically...
متن کاملComing together in a rightward direction: post-1980s changing attitudes to the British welfare state
Major changes in the British welfare state were initiated during the 1980s in response to the 1970s' stagflation, rapid globalisation and the government's inability to ensure full employment: the relatively unrestricted payment of unemployment benefits was replaced by a jobseekers' allowance with applicants obliged to seek work actively and, if required, undergo training. Public support for thi...
متن کاملElements of novelty ,
We briefly describe the recent evolution of the crisis and, by reviewing some of its explanations based on different theories, we proceed towards our own interpretation. The deregulation wave of the last decades has created new profit opportunities in various contexts – from labour flexibility to privatisation, from financialisation to globalisation – so promoting a renewed process of capitalis...
متن کاملA strategy for the synthesis of the fargenone/fargenin family of natural products: synthesis of the tricyclic core.
A synthesis of the core ring structure of the fargenin/fargenone family of natural products is presented. The general strategy is based upon biosynthetic speculation and exploits a cascade reaction, which transforms a spirocyclic dienone into the core ring system via a deprotonation-oxy-Michael-Wittig olefination sequence. This study represents the first synthesis work towards this family of na...
متن کامل