Force fields, hysteresis and economic equilibria
Hysteresis and force of fields concepts of equilibrium in economic systems are examined. The study showed how certain limitations of the force of fields theory like homeostatic equilibria and time reversible trajectories can be addressed by hysteresis. Hysteresis employs non-linearity and heterogeneity to attain equilibrium of economic systems. Thus far, hysteretic equilibria has evolved as an analytical tool for economic systems.
Publication Name: Journal of Economic Studies
Inflation, productivity and monetary policy: are they related?
A contractionary monetary policy will have a positive impact on productivity growth if taken in a long-term basis. This result stems from a trivariate error correction modeling analysis of the relationship among inflation, productivity growth, and monetary policy. While inflation and monetary policy jointly affect productivity growth, monetary policy appears to be a consistent and strong determinant of productivity growth.
Publication Name: Studies in Economics and Finance
Does the enrichment of another country benefit India? Some empirical results
This article discusses the potentially negative or positive results of trade relations on a country's enrichment, depending on the similarity or difference of exported goods. The authors examine India's economic benefit or harm due to the enrichment of a trade partner; findings suggest benefits for India because its exports tend to be different from those of its trading partners.
Publication Name: International Journal of Applied Economics and Econometrics
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