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Economic Theory Commons™

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Public Economics

Selected Works

2004

Articles 1 - 3 of 3

Full-Text Articles in Economic Theory

From Hayek To Keynes: G.L.S. Shackle And Our Ignorance Of The Future, Greg Hill Jan 2004

From Hayek To Keynes: G.L.S. Shackle And Our Ignorance Of The Future, Greg Hill

Greg Hill

G.L.S. Shackle stood at the historic crossroads where the economics of Hayek and Keynes collided. Shackle fused these opposing lines of thought in a macroeconomic theory that draws Keynesian conclusions from Austrian premises. In Shackle’s scheme of thought, the power to imagine alternative courses of action releases decision makers from the web of predictable causation. But the continuous stream of spontaneous and unpredictable choices that originate in the subjective and disparate orientations of individual agents denies us the possibility of rational expectations, and therewith the logical coherence of market equilibrium through time.

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The Contribution Of Business Services To Aggregate Productivity Growth, Henk Lm Kox Dec 2003

The Contribution Of Business Services To Aggregate Productivity Growth, Henk Lm Kox

Henk LM Kox

As in most OECD countries, the business services industry in the Netherlands has grown much faster than the market sector as a whole. It has, however, displayed stagnating productivity growth, in some periods even a fall in productivity. Does this fast-growing industry with a bad productivity record present a threat to aggregate productivity growth and, hence, to future economic growth? Reviewing existing empirical evidence, the paper argues that this concern need not be valid. The business services industry has an important role in the national innovation system and in knowledge spillovers to other industries. The innovation contribution of business services …

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Una Estimacion Del Coste Marginal En Bienestar Del Sistema Impositivo Español, Ferran Sancho Dec 2003

Una Estimacion Del Coste Marginal En Bienestar Del Sistema Impositivo Español, Ferran Sancho

Ferran Sancho

We numerically estimate partial derivatives associated to tax instruments under the assumption of a non-optimal tax system-

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