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The Gettysburg Economic Review, Volume 4, Spring 2010

Gettysburg Economic Review

No abstract provided.

Chapter Four, Production And Costs, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Shaikh, A. — August 20, 2009 (with internal draft date January 16, 2009). Production and costs [Unpublished manuscript]. The main chapter text, comprising an introduction and four numbered sections on production in economic theory, production relations versus production functions, cost prices and profits, and empirical evidence on labor conditions and costs, followed by a reference list.
• Shaikh, A. — undated (annotated November 27, 2010). Appendix 4.1: Classical versus conventional national accounts [Unpublished manuscript]. A supplementary appendix mapping classical and conventional national-accounting frameworks, with accompanying footnotes and a reference list.
• Shaikh, A. — undated. Appendix 4.2: Numerical example …

Are Credit Unions In Ecuador Achieving Economies Of Scale?, Nick A. Marchio

Economics Honors Projects

This study tests the assertion that membership growth in credit unions is constrained by their unique structural features, such as their non-profit mission and member-based ownership. Although these features enhance inclusiveness, existing theory suggest that they work against efficiency when membership grows too diffuse. To address this issue, this study uses a model that takes into account existing theory on constrained-optimization in credit unions and theory on the adverse effects of diffuse ownership. Using data on 36 public credit unions in Ecuador, the empirical analysis finds evidence that credit unions can achieve economies of scale despite their problematic structural features. …

The Alliance Formation Puzzle And Capacity Constraints, Kai A. Konrad, Dan Kovenock

Economics Faculty Articles and Research

The formation of an alliance in conflict situations is known to suffer from a collective action problem and from the potential of internal conflict. We show that budget constraints of an intermediate size can overcome this strong disadvantage and explain the formation of alliances.

Why Brazil Has Not Grown: A Comparative Analysis Of Brazilian, Indian, And Chinese Economic Management, Fernando Ferrari-Filho, Anthony Petros Spanakos

Department of Political Science and Law Faculty Scholarship and Creative Works

This paper does not aim to dispute that Brazil would benefit from reforms in any or all of these areas. Rather, the paper offers a skeptical perspective on reform menus and proposes an alternative explanation for the faster growth of Brazil’s peers India and China2. The paper begins by introducing (section 1) the idea of the BRICs countries, to establish the basis for comparisons of most similar cases. It then surveys the results of a generation of Washington Consensus era growth (section 2). Although there is a considerable amount of divergence over what causes growth, it seems that something approaching …

Financial Frictions, Capital Reallocation, And Aggregate Fluctuations, Jürgen Von Hagen, Haiping Zhang

Research Collection School Of Economics

We address an important business cycle fact, i.e., the amplified and hump-shaped responses of output to productivity shocks, in a dynamic general equilibrium model with financial frictions. Models with financial frictions in the current literature have either the amplification mechanism or the propagation mechanism. Our model shows that the dynamic interaction of borrowing constraints, endogenous capital accumulation, and capital reallocation among agents with different productivity constitutes a mechanism through which the effects of productivity shock on aggregate output are amplified and propagated, more in line with the empirical evidence than other related models in the literature.

The Ethical Lacunae In Friedman's Concept Of The Manager, Jonathan B. Wight, Martin Calkins

Economics Faculty Publications

This article challenges along two lines Milton Friedman's injunction that the sole role of the business manager is to maximize profits for shareholders using all legal and ethical means. First, it shows how Friedman overly narrows the manager's moral duties to consequentialist profit maximization and thereby fails to account for a wide range of values and virtues necessary for good management. Second, it illustrates how more oblique approaches to management as well as Adam Smith's virtue-based model better capture the moral imagination and relational aspects of leadership that are critical to good management today. In the end, this article suggests …

Kalecki Eichner, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Shaikh, A. (n.d.). Kalecki / Eichner (Unpublished manuscript) (p. 1).
• Forman, C. (2008). Empirical studies on profits, concentration, entry, and investment (Unpublished manuscript) (pp. 2-3).
• Board of Governors of the Federal Reserve System. (2007). L.109 commercial banking (1) (Federal Reserve statistical release) (p. 4).
• Shaikh, A. (2000). Eco 204: Competition (Unpublished manuscript) (p. 5).
• Shaikh, A. (1980). Notes on Kalecki's theory of price (Unpublished manuscript) (pp. 6-10).
• Shaikh, A. (2000). New Eco 204: Price - Kalecki & PK theories (Unpublished manuscript) (p. 11).
• Shaikh, A. (2007). Unequal profit rates and theories of competition and oligopoly (Unpublished manuscript) …

Ape205, Section 4, Real Competition, Comp. And Industrial Rates Of Return, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Shaikh, A. (2007, September). Competition and industrial rates of return [Annotated version 4 conference paper developing a classical-Marxian account of profit-rate equalization and testing total-capital and incremental returns with OECD and US industry data].
• Profit rate equalization theory and evidence [Annotated one-page research-note fragment outlining econometric tests based on sectoral structural premia, dynamic adjustment, unit roots, OLS, and panel methods]. (2008, February 4; originally dated January 13).

The Determinants Of Private College Tuition Fees : A Hedonic Approach, Miin See

Student Works (2000-2009)

In the private higher education markets in Malaysia today, education programs are marketed like any other commercial products. The programs are designed, packaged, priced and sold to the consumers - the students. Due to the fact that in these markets, the students are mostly self-funded (without scholarship) pricing strategy is one of the most important marketing tools used by the private higher education institutes (PHEIs). Using the hedonic pricing model, this study has identified several factors that are influential in determining the tuition fee of a degree program offered by a PHEI in Malaysia. This study investigates two markets: the …

Capital Structure And Product-Market Rivalry: How Do We Reconcile Theory And Evidence?, Dan Kovenock, Gordon Phillips

Economics Faculty Articles and Research

This paper presents empirical evidence on the interaction of capital structure decisions and product market behavior. We examine when firms recapitalize and increase the proportion of debt in their capital structure. The evidence in this paper shows that firms with low productivity plants in highly concentrated industries are more likely to recapitalize and increase debt financing. This finding suggests that debt plays a role in highly concentrated industries where agency costs are not significantly reduced by product market competition. Following the empirical evidence we introduce the "strategic investment" effects of debt and argue that this effect, in conjunction with agency …

Walrasian Comp, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes.

• Shaikh, A., PhD. (n.d.). Walrasian comp and PC [Unpublished handwritten notes].

• Roberts, J. (1987). Perfectly and imperfectly competitive markets. In P. Newman (Ed.), The New Palgrave (pp. 1–20). Macmillan.

• Shaikh, A., PhD. (1995, July 24). Rational expectations and perfect competition [Unpublished paper].

• Moustafa, A. (n.d.). A critique of the theory of perfect competition [Political economy qualifying exam paper].

• Roberts, J. (1987). Perfectly and imperfectly competitive markets [Photocopy of book chapter]. In P. Newman (Ed.), The New Palgrave (pp. 1–20). Macmillan.

• Stigler, G. J. (1957, February). Perfect competition, historically contemplated. The Journal …

Model Of Price Formation + Competition, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Shaikh, A. (n.d.). Model of price formation and competition [Folder cover].

• Bryce, D. J., & Dyer, J. H. (2007, May). Strategies to crack well-guarded markets. Harvard Business Review, 85(5), 84–92, 144.

• Shaikh, A. (1987, April 14). Price competition within industry [Handwritten notes].

• Shaikh, A. (1987, April 28). Model I: Price comp. and choice of technique [Handwritten notes with block diagrams].

• Shaikh, A. (1987, April 28). Price comp. and choice of techniques: Model I [Handwritten notes].

• Shaikh, A. (1987, April 28). Price competition and choice of technique [Handwritten notes with mathematical …

Price Determination In A Competitive Industry With Costly Information And A Production Lag, Reuven Glick, Clas Wihlborg

Business Faculty Articles and Research

We analyze the role of information for price and output adjustment when competitive firms with rational expectations cannot directly distinguish between industrywide and firm-specific cost disturbances. Firms may become informed about industrywide cost conditions by acquiring information at a cost. The sensitivity of price and output to cost disturbances decreases as more firms choose to purchase information. The equilibrium industry share of informed firms increases as the cost of information falls and total cost variability increases. The equilibrium share of informed firms is largest when there is a comparable degree of variability in both industrywide and firm-specific costs.

Pricing And Profits Empitical, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Folder Cover Label Shaikh, A. (1983). Pricing & profit empirical. Department of Economics, New School for Social Research.This item is a label on a cream folder. It organizes research materials examining corporate pricing systems and business profits.
• Published Journal Article with Handwritten Comment Clifton, J. A. (1983). Administered prices in the context of capitalist development. Contributions to Political Economy, 2. Academic Press. This item is a published academic paper about corporate pricing. Dr. Anwar Shaikh added a handwritten note at the top asking where to place the material in his textbook chapters.

Production, Price, And Inventory Theory, George A. Hay

Cornell Law Faculty Publications

This paper is an attempt to derive empirically testable hypotheses regarding the principal determinants of firms' decisions on production, price, and finished goods inventory. The general approach to the problem is that many of the same factors which affect the optimal value for one variable will also influence decisions on the other two, and that a "proper" model must take into account the interdependence of these variables and the simultaneous nature of the decisions involving them. This is in contrast to literature on the theory of inventories (see Paul Darling and Michael Lovell) in which the firm is assumed to …

Education And Living, Ralph Borsodi

School of Living Books

In Education and Living, a two-volume work, Borsodi elaborated the model of the School of Living. Most of volume one consists of a critique of “mis-education.” Most of that critique focuses on the problems of centralization; centralization of industry, the economy, politics and education. The second volume of Education and Living explains Borsodi’s vision of achieving decentralization in detail. The second volume is in two parts: Right-Education and Re-Education. It explains how to educate for the “Normal” human being and for achieving the “Normal” way of living. This is not the “normal” of the bell curve, the average of a …