{"title":"Sustainable economic development in the European Union and COVID-19","authors":"Chara Vavoura, Ioannis Vavouras","doi":"10.1007/s40844-021-00217-1","DOIUrl":"https://doi.org/10.1007/s40844-021-00217-1","url":null,"abstract":"<p>The paper has two basic objectives. The first, is to present the evolution of the process of sustainable development in the European Union (EU). We provide evidence that over time, the concept of sustainable development as a broad policy objective has been steadily declining in importance giving way to the less multidimensional strategy of green growth. We argue that the green growth strategy is actually based on the strategic selection of the traditional economic growth model, taking into account certain environmental aspects. We show that environmental protection expenditure is growing much slower than per capita income. Looking at the investment on environmental protection, we document a clear falling trend. Our findings imply that both the social and the environmental dimension of sustainability have been losing ground and the traditional goal of economic growth is being restored. The second, is to provide some assessment of the impact of the coronavirus pandemic on the process of sustainable development in the EU. Considering the relevant EU forecasts on the immediate effects of the pandemic, we conclude that it will severely hinder the process of sustainability in the EU in the short term. The long-term effects of the pandemic cannot even be outlined, especially at the level of the individual member states. Nevertheless, the effectiveness of the Recovery and Resilience Facility as key instrument of recovery and of national recovery and resilience plans, will play a decisive role in minimising or even neutralising the negative longer-term effects of the coronavirus pandemic.</p>","PeriodicalId":44114,"journal":{"name":"Evolutionary and Institutional Economics Review","volume":null,"pages":null},"PeriodicalIF":0.9,"publicationDate":"2021-07-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138537683","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}
{"title":"The stabilizing effect of fiscal policies on the dynamics of effective demand and income distribution in Japan","authors":"Ryunosuke Sonoda","doi":"10.1007/s40844-021-00218-0","DOIUrl":"https://doi.org/10.1007/s40844-021-00218-0","url":null,"abstract":"","PeriodicalId":44114,"journal":{"name":"Evolutionary and Institutional Economics Review","volume":null,"pages":null},"PeriodicalIF":0.9,"publicationDate":"2021-07-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1007/s40844-021-00218-0","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45381431","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}
Rubaiyat Islam, Y. Fujiwara, Shinya Kawata, Hiwon Yoon
{"title":"Correction to: Analyzing outliers activity from the time-series transaction pattern of bitcoin blockchain","authors":"Rubaiyat Islam, Y. Fujiwara, Shinya Kawata, Hiwon Yoon","doi":"10.1007/S40844-021-00215-3","DOIUrl":"https://doi.org/10.1007/S40844-021-00215-3","url":null,"abstract":"","PeriodicalId":44114,"journal":{"name":"Evolutionary and Institutional Economics Review","volume":null,"pages":null},"PeriodicalIF":0.9,"publicationDate":"2021-06-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1007/S40844-021-00215-3","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"52807571","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}
Rubaiyat Islam, Y. Fujiwara, Shinya Kawata, Hiwon Yoon
{"title":"Correction to: Unfolding identity of financial institutions in bitcoin blockchain by weekly pattern of network flows","authors":"Rubaiyat Islam, Y. Fujiwara, Shinya Kawata, Hiwon Yoon","doi":"10.1007/s40844-021-00216-2","DOIUrl":"https://doi.org/10.1007/s40844-021-00216-2","url":null,"abstract":"","PeriodicalId":44114,"journal":{"name":"Evolutionary and Institutional Economics Review","volume":null,"pages":null},"PeriodicalIF":0.9,"publicationDate":"2021-06-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1007/s40844-021-00216-2","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45963880","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}
{"title":"The influence of Tidology and Astronomy in Alfred Marshall’s economics: a reassessment of his economic method for the analysis of periodic and secular variations","authors":"Naoki Matsuyama","doi":"10.1007/s40844-021-00214-4","DOIUrl":"https://doi.org/10.1007/s40844-021-00214-4","url":null,"abstract":"","PeriodicalId":44114,"journal":{"name":"Evolutionary and Institutional Economics Review","volume":null,"pages":null},"PeriodicalIF":0.9,"publicationDate":"2021-06-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1007/s40844-021-00214-4","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45453847","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}
{"title":"Measuring the shift in the short-run production frontier","authors":"Hideyuki Mizobuchi","doi":"10.1007/s40844-021-00212-6","DOIUrl":"https://doi.org/10.1007/s40844-021-00212-6","url":null,"abstract":"<p>We introduce two labour productivity indexes. Both indexes are intended to capture the shift in the short-run production frontier, which can be attributed to technological progress or growth in capital inputs. The two indexes adopt distinct approaches to measuring the distance between the production frontiers. One is based on the distance function and the other is based on the profit function. In the end, we show that these two theoretical measures coincide with the index number formulae that are computable from the observable prices and quantities of output and input. By applying these formulae to the U.S. industry data of the years 1970–2005, we compare newly proposed labour productivity indexes with the average labour productivity growth over periods and across industries. We revisit the hypothesis of Baumol’s disease throughout our observations on the trend of industry labour productivities in the service sector.</p>","PeriodicalId":44114,"journal":{"name":"Evolutionary and Institutional Economics Review","volume":null,"pages":null},"PeriodicalIF":0.9,"publicationDate":"2021-04-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138506002","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}
{"title":"Was Adam Smith an evolutionary economist?: Smith’s study of botany and Charles Darwin’s theory of morality","authors":"Tetsuo Taka","doi":"10.1007/s40844-021-00213-5","DOIUrl":"https://doi.org/10.1007/s40844-021-00213-5","url":null,"abstract":"","PeriodicalId":44114,"journal":{"name":"Evolutionary and Institutional Economics Review","volume":null,"pages":null},"PeriodicalIF":0.9,"publicationDate":"2021-04-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1007/s40844-021-00213-5","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42185591","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}
{"title":"Stone–Geary type preferences and the long-run labor supply","authors":"Tamotsu Nakamura","doi":"10.1007/s40844-021-00204-6","DOIUrl":"https://doi.org/10.1007/s40844-021-00204-6","url":null,"abstract":"<p>In most advanced economies, working hours have steadily declined, while the per-capita income has steadily increased. Boppart and Krusell (J Polit Econ 128(1):118–157, 2020) propose a new preference class in order to account for these observations. They show that the income effect on labor supply exceeds the substitution effect in the balanced-growth path. However, the longer-term changes, or less-developed economies, reveal backward-bending relationships between income and working hours. To explain this fact, we introduce Stone–Geary type non-homotheticity in preferences into a non-overlapping generations model, and analyze how working hours evolve with income. With the non-homotheticity, the long-run equilibrium labor supply bends backward. Further, the backward-bending curve emerges not only as a transitional phenomenon, but also in the balanced-growth path.</p>","PeriodicalId":44114,"journal":{"name":"Evolutionary and Institutional Economics Review","volume":null,"pages":null},"PeriodicalIF":0.9,"publicationDate":"2021-04-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138506022","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}
{"title":"Correction to: Capital-labor conflict in the Harrodian model","authors":"T. Ohno","doi":"10.1007/S40844-021-00211-7","DOIUrl":"https://doi.org/10.1007/S40844-021-00211-7","url":null,"abstract":"","PeriodicalId":44114,"journal":{"name":"Evolutionary and Institutional Economics Review","volume":null,"pages":null},"PeriodicalIF":0.9,"publicationDate":"2021-03-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1007/S40844-021-00211-7","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49572193","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}
{"title":"Purchase of government bonds by a supranational central bank: its impact on business cycles","authors":"Masato Nakao, Toichiro Asada","doi":"10.1007/s40844-021-00207-3","DOIUrl":"https://doi.org/10.1007/s40844-021-00207-3","url":null,"abstract":"<p>The euro area emerged from the euro crisis without meeting the conditions presented by the theory of optimum currency area. The decisive policy that ended this crisis was the Outright Monetary Transactions policy. Besides, the quantitative easing policy supports the economy of the euro area after this crisis. To examine the impact of these supranational monetary policies on the business cycles in the euro area, which is not covered by optimum currency area theory, we use a Kaldorian two-country model featuring a monetary union and imperfect capital mobility. We find that an increase in government bond purchases is a stabilizing factor, whereas an extreme increase in the degree of counter-cyclical fiscal policy is a destabilizing factor. Nevertheless, as long as the fiscal and monetary policies of two countries are not extremely active, but active to a certain extent, the equilibrium point becomes locally stable. Furthermore, even if the business cycles are not synchronized, the purchase of government bonds of a particular country is effective in stabilizing the business cycles of both countries. From these results, we suggest that the euro area satisfies the metacriteria of an optimum currency area through the implementation of a government bond purchase system by a supranational central bank system.</p>","PeriodicalId":44114,"journal":{"name":"Evolutionary and Institutional Economics Review","volume":null,"pages":null},"PeriodicalIF":0.9,"publicationDate":"2021-03-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138506021","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}