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Full-Text Articles in Social and Behavioral Sciences
Some Intranational Evidence On Output-Inflation Trade-Offs, Gregory Hess, Kwanho Shin
Some Intranational Evidence On Output-Inflation Trade-Offs, Gregory Hess, Kwanho Shin
CMC Faculty Publications and Research
In a seminal paper, Robert E. Lucas, Jr. provided the theoretical relationship between aggregate demand and real output based on relative price confusion at the individual market level. Subsequently, an alternative New Keynesian aggregate supply relationship was derived and it was demonstrated that the two theories can be distinguished on the basis of how both the rate of inflation and the volatility of relative prices affect its slope. By emphasizing the first implication of New Keynesian theory, strong evidence was obtained supporting this model using international data. We also concentrate on the second difference between the two theories. We derive …
Extensions Of Power Transition: Applications To Political Economy, Jacek J. Kugler
Extensions Of Power Transition: Applications To Political Economy, Jacek J. Kugler
CGU Faculty Publications and Research
This is a paper about theory in political economy terms and political economy in theoretical terms. It unifies power transition theory and applies it to the central questions that now confront political economists. Will trade wars emerge as the security challenge declines? What are the economic effects of integration, trade and growth? How will economic patterns influence international power relationships? This paper offers a preliminary bridge whereon practitioners and theorist may meet to assess the challenges that lie at the intersection between politics and economics. The economic collapse and political dissolution of the Soviet Union left policymakers and scholars searching …