An analysis of stability in a Keynesian economy with Ricardian consumers

Article Abstract:

Ricardian tax discounting in a sticky-price economy reduces macroeconomic stability. The first approach considering both Ricardian and Keynesian saving behavior indicates that Ricardian behavior lessens stability. A second heuristic example suggests that extreme Ricardian behavior could cause instability. Suggestions for future research are on analyzing the results when the assumptions of fixed price level and exogenous net exports are dropped; and, the speed at which net exports adjust to the changes in exchane rates.

Keynesian economics

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The monetary aggregates and the velocity of money

Article Abstract:

A new measure of money, the Rational Transactionals Aggregate (RTA), and its relation to economic activity was studied in selected macroeconomic models for 1973-1990. The RTA includes demand and currency deposits and consumer credit. Thus, it is a better representative of prevailing economic activities. Using lagged output changes and lagged interest rates by the money demand function for RTA showed the most favorable results for purposes of prediction.

Money demand

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Testing for parameter stability in executive renumeration functions

Article Abstract:

Executive pay is linked to the type of regulation which covers the industry in question, and this is likely to affect how top managers behave and their choices of aims and objectives. The subject has attracted attention in recent years due to to publicised cases of pay rising faster than performance of companies. This finding has implications for resource allocation and government policy. The methods used in this study include a Bayesian test.

Management consulting services, Management, Economic aspects, Employee performance appraisals, Performance appraisals, Labor productivity

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