New Institutional Economics eJournal最新文献_第2页

The Economics of the German Investigation of Facebook’s Data Collection 德国对Facebook数据收集调查的经济学

New Institutional Economics eJournal Pub Date : 2020-04-04 DOI: 10.2139/ssrn.3593236

Oliver Budzinski, Marina Gruševaja, Victoriia Noskova

引用次数: 12

Action at a Distance: Client Relations as a Conduit for External Institutional Influence 远距离行动:作为外部机构影响渠道的客户关系

New Institutional Economics eJournal Pub Date : 2020-03-27 DOI: 10.2139/ssrn.3562159

M. Falk, Brandon H. Lee, Kwanghui Lim

引用次数: 0

Wage Theft as Crime: An Institutional View 作为犯罪的工资盗窃:一个制度的观点

New Institutional Economics eJournal Pub Date : 2020-03-21 DOI: 10.2139/ssrn.3558726

César F. Rosado Marzán

引用次数: 1

Simple Rules for a Complex World with Arti�?cial Intelligence 复杂世界的简单规则脸部用的情报

New Institutional Economics eJournal Pub Date : 2020-03-20 DOI: 10.2139/ssrn.3559378

Jesús Fernández-Villaverde

引用次数: 4

The Key to Value: The Debate over Commensurability in Neoclassical and Credit Approaches to Money 价值的关键:新古典主义和信用主义货币观中关于可通约性的争论

New Institutional Economics eJournal Pub Date : 2020-03-01 DOI: 10.2139/ssrn.4176539

Christine A. Desan

{"title":"The Key to Value: The Debate over Commensurability in Neoclassical and Credit Approaches to Money","authors":"Christine A. Desan","doi":"10.2139/ssrn.4176539","DOIUrl":"https://doi.org/10.2139/ssrn.4176539","url":null,"abstract":"Neoclassical and credit approaches to money represent dramatically different theories of value. For many within the neoclassical tradition, the market exists as a conceptual enterprise – a place where independent agents compare and rank real goods, exchanging them afterwards to in accord with their preferences. That theory reflects a particular approach to value, identifying it as a pre-existing quality ranked by individual choice. The theory also generates a particular approach to money, assuming that a term of measurement naturally imports commensurability into evaluation. By contrast, public credit approaches suggest that creating commensurability in a world heterogeneous in so many aspects is a profound challenge. Modern political communities have responded by substantiating value in a unit that is cognizable to all: they issue credit tokens that can be set off against widely shared public obligations. That means, first, that value cognizable in money follows rather than pre-exists market activity: it is produced as individuals use credit money as a medium. Second, because value is produced as people use money, the character of that money matters: its nature as credit carries with it an allocative bias. Both governments and private lenders (banks) advance credit in order to spend selectively: they create a credit medium by providing credit to some people relative to others. According to the way money is created, definitionally we might say, individuals will not be equally situated in the process that generates prices. Decisions about value are made in the wake of that fact. The essay closes by contrasting the democratic visions at stake in neoclassical and public credit approaches to value. That exercises suggests that, if the public credit approach better describes money and market, their potential can only be realized by promoting rather than assuming equality.","PeriodicalId":330992,"journal":{"name":"New Institutional Economics eJournal","volume":"119 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114055244","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 3

Oil Shocks and Fiscal Policy Procyclicality in Angola: Assessing the Role of Asymmetries and Institutions 安哥拉的石油冲击和财政政策顺周期性:评估不对称和制度的作用

New Institutional Economics eJournal Pub Date : 2020-02-01 DOI: 10.1111/rode.12633

Alexandre Ernesto Costa António, Antonio Rodriguez‐Gil

{"title":"Oil Shocks and Fiscal Policy Procyclicality in Angola: Assessing the Role of Asymmetries and Institutions","authors":"Alexandre Ernesto Costa António, Antonio Rodriguez‐Gil","doi":"10.1111/rode.12633","DOIUrl":"https://doi.org/10.1111/rode.12633","url":null,"abstract":"The aim of this article is to examine procyclicality in Angola, assess whether it behaves asymmetrically over the oil cycle, and test the hypothesis that institutions and fiscal rules can moderate procyclicality. Received wisdom suggests that in resource‐rich economies, fiscal policy tends to be procyclical albeit improvements in the past decades due to institutional reforms. Similar evidence is available for oil‐rich economies; however, we know little about how procyclicality behaves over the oil cycle; that is, whether spending (and revenue) grows faster during oil‐market booms, than during downturns. Further, evidence on institutions and fiscal rules in oil‐exporting economies is still ambiguous. We bridge both gaps by examining fiscal policy procyclicality in Angola, one of the largest oil‐producers in Africa, and a country that has experienced an intense process of institutional reforms since 2002. Therefore, it is an ideal candidate for our study. We use data for the 2004–2014 period to estimate a threshold vector error correction model that extends vector autoregressive and vector correction methods used up to date. Our results indicate that revenue and spending are generally procyclical to oil shocks, that revenue is more procyclical during booms, and that institutional quality, net inflows, financial openness, and fiscal rules affect procyclicality.","PeriodicalId":330992,"journal":{"name":"New Institutional Economics eJournal","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115967943","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 2

Exitability and Institutional Quality 退出性与制度质量

New Institutional Economics eJournal Pub Date : 2019-12-07 DOI: 10.2139/ssrn.3500101

Matthew Brown, Danko Tarabar

引用次数: 1

Does Institutional Quality Foster Economic Complexity? 制度质量促进经济复杂性吗?

New Institutional Economics eJournal Pub Date : 2019-12-01 DOI: 10.2139/ssrn.3509939

Trung V. Vu

引用次数: 27

Forms of Institutional Work: A Systematic Review 制度工作的形式:系统回顾

New Institutional Economics eJournal Pub Date : 2019-11-26 DOI: 10.2139/ssrn.3499467

J. Lehmann, Lorenz Graf‐Vlachy, A. Koenig

引用次数: 3

R&D and the American Corporation before World War II 二战前的研发和美国公司

New Institutional Economics eJournal Pub Date : 2019-11-09 DOI: 10.2139/ssrn.3484178

R. Langlois

{"title":"R&D and the American Corporation before World War II","authors":"R. Langlois","doi":"10.2139/ssrn.3484178","DOIUrl":"https://doi.org/10.2139/ssrn.3484178","url":null,"abstract":"This paper is an excerpt from a larger book project called The Corporation and the Twentieth Century, which chronicles and interprets the institutional and economic history – the life and times, if you will – of American business in the twentieth century. One integrating theme of the book is that the signal calamities of the Great Depression and World War II, as well as the policy responses to those calamities, are crucial in understanding the structure of American industry in the post-war world. This excerpt examines the role of research and development in the corporation before and during the Depression. It argues that, although corporate R&D labs did generate many important new technologies, innovations also flowed importantly from a large variety of other sources, both within the corporation (but outside of the research lab) and elsewhere in the economy. Even though corporate research did sometimes lead to new products for the corporation to exploit, a narrative in which internal R&D systematized innovation widely in the service of corporate diversification is on the whole a fable. Nonetheless, by destroying market-supporting institutions (including, importantly, sources of external finance) and by reducing the information content of price signals, the Depression did help solidify the nexus between R&D and the large corporation. Coupled with New Deal price and entry regulation in many sectors, and followed by the far greater extent of non-market controls during World War II, the Depression set the stage for the emergence of the large Chandlerian corporation of the post-war period.","PeriodicalId":330992,"journal":{"name":"New Institutional Economics eJournal","volume":"8 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-11-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126977961","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0