A real theory of inflation and incentive anti-inflation plans

Article Abstract:

Monetary theories of inflation consider monetary phenomena but not individual behavior, which affects inflation. This behavior affects the real economy. Real theories of inflation are monetary theories, but they also study the relation between money and inflation through real-world mechanisms. A real theory of inflation leads to an understanding of incentive anti-inflation plan such as the market anti-inflation plan, which can enhance the understanding of the aggregate economy.

Models, Evaluation, Inflation (Finance), Monetary policy, Inflation (Economics)

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The Economics of Price Scissors

Article Abstract:

Terms of trade between industrial and agriculture sectors in developing countries are examined. A general equilibrium model of a dual economy is developed which emphasizes rural incentives. Capital accumulation can be increased by a price squeeze in the rural sector. Both industrial workers and peasants suffer a decrease in welfare. Optimal terms of trade result from a subsidy to the rural sector and a tax on the urban sector.

International trade, Industrial efficiency, Economic efficiency

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Incentive Effects of Terminations: Applications to the Credit and Labor Markets

Article Abstract:

Contingency contracts are examined to determine their value. These contracts are found to have desirable incentive properties. In markets faced with high moral hazard, contracts may include termination clauses. Conditions are derived for credit cancellation, firings, and evictions.

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