Specificity and the Macroeconomics of Restructuring

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Publisher : MIT Press
ISBN 13 : 0262033623
Total Pages : 349 pages
Book Rating : 4.2/5 (62 download)

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Book Synopsis Specificity and the Macroeconomics of Restructuring by : Ricardo J. Caballero

Download or read book Specificity and the Macroeconomics of Restructuring written by Ricardo J. Caballero and published by MIT Press. This book was released on 2007 with total page 349 pages. Available in PDF, EPUB and Kindle. Book excerpt: A proposal that the notion of specificity -- the idea that factors of production are not interchangeable -- can provide a unified framework to analyze and understand a wide variety of macroeconomic phenomena stemming from the transactional environment and microeconomic restructuring. The core mechanism that drives economic growth in modern market economies is massive microeconomic restructuring and factor reallocation -- the Schumpeterian "creative destruction" by which new technologies replace the old. At the microeconomic level, restructuring is characterized by countless decisions to create and destroy production arrangements. The efficiency of these decisions depends in large part on the existence of sound institutions that provide a proper transactional environment. In this groundbreaking book, Ricardo Caballero proposes a unified framework to analyze and understand a wide variety of macroeconomic phenomena stemming from limitations, especially institutional, that hinder these adjustments. Caballero argues that macroeconomic models need to be made more "structural" in a precise sense and can not be maintained on the assumption that decisions are fully flexible. What is needed, he proposes, is the notion of specificity -- the idea that factors of production are not freely interchangeable. Many of the major macroeconomic developments of recent decades, he argues, fit naturally into this perspective, including the transition problems of Eastern Europe, the heavy weight of labor regulations in Western Europe, the emerging market crises of the 1990s, the prolonged expansion of the U.S. economy, and Japan's stagnation following the collapse of its real estate bubble. After describing the basic arguments of the book and developing models to illustrate two different kinds of specificity (relationship specificity and technological specificity), Caballero analyzes a variety of aspects of inefficient restructuring and revisits perennial business cycle patterns such as the cyclical behavior of unemployment, investment, and wages. Finally, he looks at the endogenous response of political institutions and technology to opportunistic exploitation of relationship specificity. Economists working on macroeconomics, development, growth, labor, and productivity issues will find Caballero's conceptual framework applicable to phenomena in their fields.

Ricardo's Macroeconomics

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Publisher : Cambridge University Press
ISBN 13 : 9780521844741
Total Pages : 336 pages
Book Rating : 4.8/5 (447 download)

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Book Synopsis Ricardo's Macroeconomics by : Timothy S. Davis

Download or read book Ricardo's Macroeconomics written by Timothy S. Davis and published by Cambridge University Press. This book was released on 2005-05-02 with total page 336 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book describes the contribution of David Ricardo to the development of macroeconomics.

Ricardo's Economics

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Publisher : Cambridge University Press
ISBN 13 : 9780521396882
Total Pages : 268 pages
Book Rating : 4.3/5 (968 download)

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Book Synopsis Ricardo's Economics by : Michio Morishima

Download or read book Ricardo's Economics written by Michio Morishima and published by Cambridge University Press. This book was released on 1990-10-25 with total page 268 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book, together with Marx's Economic and Walras' Economics, completes a sequence of titles by Professor Morishima on the first generation of scientific economists. The author's assessment of Ricardo differs substantially from the established views adopted by economists and historians of economic thought. While economists such as Pasinetti, Caravale and Samuelson have concentrated on macroeconomic interpretations of Ricardo, and historians of economic thought have emphasised his labour theory of value, Morishima takes a different course. In this book the author concentrates on Ricardo's main work, The Principles, and shows that his economics is the prototype of mathematical economies without the symbols and formulae. Morishima then translates Ricardo's economics into mathematical language to find a general equilibrium system (very similar to Walras') concealed within. The analysis also contradicts the conventional view that marginalism emerged in opposition to classical economics, showing instead that Ricardian analysis is firmly based on marginalist principles, using prices, wages and profits rather than labour values. The book ends with a discussion of the historical character of economic theory and an attempt to specify the epoch of Ricardian economics.

David Ricardo

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Publisher : Cambridge University Press
ISBN 13 : 9780521402989
Total Pages : 92 pages
Book Rating : 4.4/5 (29 download)

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Book Synopsis David Ricardo by : David Ricardo

Download or read book David Ricardo written by David Ricardo and published by Cambridge University Press. This book was released on 1992-05-07 with total page 92 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book completes the record on Ricardian value theory and fills the last gap in our knowledge of the development of Ricardo's thinking.

The Life and Economics of David Ricardo

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Author :
Publisher : Springer Science & Business Media
ISBN 13 : 1461561299
Total Pages : 685 pages
Book Rating : 4.4/5 (615 download)

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Book Synopsis The Life and Economics of David Ricardo by : John P. Henderson

Download or read book The Life and Economics of David Ricardo written by John P. Henderson and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 685 pages. Available in PDF, EPUB and Kindle. Book excerpt: John P. Henderson's The Life and Economics of David Ricardo represents the first comprehensive personal and intellectual biography of the brilliant and influential British economist. Employing the talents of both a biographer and an economist, the author examines Ricardo's early years, his Sephardic origins and his employment in the London financial markets, as well as his later work on money and banking, international trade, economic instability and the theory of rent and value. Henderson also provides a thorough investigation of Ricardo's relationships with Thomas Robert Malthus and other classical economists. The Life and Economics of David Ricardo will be of interest not only to historians of economic thought and students of economics, but also to any economist working in the Ricardian or Classical Political Economy tradition.

David Ricardo

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Publisher : Springer
ISBN 13 : 1137315954
Total Pages : 267 pages
Book Rating : 4.1/5 (373 download)

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Book Synopsis David Ricardo by : J. King

Download or read book David Ricardo written by J. King and published by Springer. This book was released on 2013-08-23 with total page 267 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book offers a new account of David Ricardo's political economy that is both scholarly and accessible. It provides a detailed overview of the secondary literature on Ricardo down to 2012, and discusses alternative perspectives on his work, including those of Marxians, neoclassicals and Sraffians.

The Elgar Companion to David Ricardo

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Author :
Publisher : Edward Elgar Publishing
ISBN 13 : 1784715484
Total Pages : 672 pages
Book Rating : 4.7/5 (847 download)

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Book Synopsis The Elgar Companion to David Ricardo by : Heinz D. Kurz

Download or read book The Elgar Companion to David Ricardo written by Heinz D. Kurz and published by Edward Elgar Publishing. This book was released on 2015-05-29 with total page 672 pages. Available in PDF, EPUB and Kindle. Book excerpt: Arguably one of the most important economists who has lived, Ricardo's impact on the economics profession is immense. This unique and comprehensive Companion elucidates his significance and continuing legacy. Ricardo made major contributions to all fields of the subject, from monetary issues to value and income distribution, from capital accumulation, technical progress and economic growth to foreign trade and international specialisation, and from taxes to public debt. What he called the main problem of political economy, the distribution of income and wealth, is again back on the political and economic agenda with a vengeance. Leading experts in the field explore his influence and offer novel interpretations of received doctrines.

Ricardo on Money

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Author :
Publisher : Taylor & Francis
ISBN 13 : 1351801961
Total Pages : 418 pages
Book Rating : 4.3/5 (518 download)

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Book Synopsis Ricardo on Money by : Ghislain Deleplace

Download or read book Ricardo on Money written by Ghislain Deleplace and published by Taylor & Francis. This book was released on 2017-04-07 with total page 418 pages. Available in PDF, EPUB and Kindle. Book excerpt: Despite his achievements, David Ricardo’s views on money have often been misunderstood and underappreciated. His advanced ideas had to wait until the twentieth century to be applied, and most historians of economic thought continue to consider him as an obsolete orthodox. The last book devoted in tribute to Ricardo as a monetary economist was published more than 25 years ago. Ricardo on Money encompasses the whole of Ricardo’s writings on currency, whether in print, unpublished notes, correspondence, or reported parliamentary speeches and evidence. The aim of the book is at rehabilitating Ricardo as an unorthodox theorist on money and suggesting his relevance for modern analysis. It is divided into three parts: history, theory and policy. The first describes the factual and intellectual context of Ricardo’s monetary writings. The second part puts the concept of standard centre stage and clarifies how, according to Ricardo, the standard regulated the quantity – and hence the value – of money. The final part shows that Ricardo relied on the active management of paper money rather than on flows of bullion and commodities to produce international adjustment and guarantee the security of the monetary system. Published to coincide with the 200th anniversary of the publication of On the Principles of Political Economy, and Taxation, this book will be of great interest to all historians of economic thought and scholars of monetary economics.

David Ricardo

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Author :
Publisher : Springer
ISBN 13 : 1137315954
Total Pages : 256 pages
Book Rating : 4.1/5 (373 download)

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Book Synopsis David Ricardo by : J. King

Download or read book David Ricardo written by J. King and published by Springer. This book was released on 2013-08-23 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book offers a new account of David Ricardo's political economy that is both scholarly and accessible. It provides a detailed overview of the secondary literature on Ricardo down to 2012, and discusses alternative perspectives on his work, including those of Marxians, neoclassicals and Sraffians.

Macroeconomics

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Publisher : Cambridge University Press
ISBN 13 : 1108486940
Total Pages : 255 pages
Book Rating : 4.1/5 (84 download)

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Book Synopsis Macroeconomics by : Alex M. Thomas

Download or read book Macroeconomics written by Alex M. Thomas and published by Cambridge University Press. This book was released on 2021-09-30 with total page 255 pages. Available in PDF, EPUB and Kindle. Book excerpt: Provides a lucid and novel introduction to macroeconomic issues and introduces an alternative approach of understanding macroeconomics, which is inspired by the works of Adam Smith, David Ricardo, Karl Marx, John Maynard Keynes, and Piero Sraffa. It also presents the reader with a critical account of mainstream marginalist macroeconomics.

Ricardo's Theory of Growth and Accumulation

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Author :
Publisher : Routledge
ISBN 13 : 1000088863
Total Pages : 124 pages
Book Rating : 4.0/5 ( download)

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Book Synopsis Ricardo's Theory of Growth and Accumulation by : Neri Salvadori

Download or read book Ricardo's Theory of Growth and Accumulation written by Neri Salvadori and published by Routledge. This book was released on 2020-04-22 with total page 124 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the aftermath of the Napoleonic Wars Britain found itself faced with a stagnant economy. Economist David Ricardo believed that the full re-integration of Britain into the world market would allow for both capital accumulation and population growth, and used arguments that anticipate ideas entertained in modern contributions to the theory of economic growth and development. However, several of these arguments have not yet been translated into the language of modern classical economics. Ricardo’s Theory of Growth and Accumulation seeks to overcome this striking lacuna. The latest entry in the Graz Schumpeter lecture series, this text explores and elaborates Ricardo’s arguments and the models utilized by those who subsequently followed in support of his work. The Ricardian system is first examined through a one-sector economy, following Kaldor’s model, and a two-sector economy, following Pasinetti’s model. These building blocks are developed through the exploration of a small open economy, which allows an analysis of the impact of international trade in exceedingly simple circumstances. This discussion expands further by considering the world economy. More sophisticated variants of the two-sector model are presented, in which commodity prices are endogenously determined by the trading interplay amongst several countries. A final analysis makes Ricardo’s case by introducing accumulation in the world economy. This book is of interest to students and scholars of Ricardo, classical economics, and – more broadly – growth theory, the theory of international economics, and globalization. The author was keen to render the analytical parts compelling to the historian and the historical parts compelling to the theorist.

Macroeconomics and Development

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Publisher : Columbia University Press
ISBN 13 : 023154121X
Total Pages : 405 pages
Book Rating : 4.2/5 (315 download)

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Book Synopsis Macroeconomics and Development by : Mario Damill

Download or read book Macroeconomics and Development written by Mario Damill and published by Columbia University Press. This book was released on 2016-03-15 with total page 405 pages. Available in PDF, EPUB and Kindle. Book excerpt: Latin American neo-structuralism is a cutting-edge, regionally focused economic theory with broad implications for macroeconomics and development economics. Roberto Frenkel has spent five decades developing the theory's core arguments and expanding their application throughout the discipline, revolutionizing our understanding of high inflation and hyperinflation, disinflation programs, and the behavior of foreign exchange markets as well as financial and currency crises in emerging economies. The essays in this collection assess Latin American neo-structuralism's theoretical contributions and viability as the world's economies evolve. The authors discuss Frenkel's work in relation to pricing decisions, inflation and stabilization policy, development and income distribution in Latin America, and macroeconomic policy for economic growth. An entire section focuses on finance and crisis, and the volume concludes with a neo-structuralist analysis of general aspects of economic development. For those seeking a comprehensive introduction to contemporary Latin American economic thought, this collection not only explicates the intricate work of one of its greatest practitioners but also demonstrates its impact on the growth of economics.

The Works and Correspondence of David Ricardo: Volume 10, Biographical Miscellany

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Author :
Publisher : Cambridge University Press
ISBN 13 : 9780521060752
Total Pages : 454 pages
Book Rating : 4.0/5 (67 download)

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Book Synopsis The Works and Correspondence of David Ricardo: Volume 10, Biographical Miscellany by : David Ricardo

Download or read book The Works and Correspondence of David Ricardo: Volume 10, Biographical Miscellany written by David Ricardo and published by Cambridge University Press. This book was released on 1955 with total page 454 pages. Available in PDF, EPUB and Kindle. Book excerpt: Part of an eleven-volume set which contains all of Ricardo's published and unpublished writings, and provides great insight into the early era of political economics.

Reforming the Reforms in Latin America

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Author :
Publisher : St Antony's
ISBN 13 :
Total Pages : 262 pages
Book Rating : 4.F/5 ( download)

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Book Synopsis Reforming the Reforms in Latin America by : Ricardo French-Davis

Download or read book Reforming the Reforms in Latin America written by Ricardo French-Davis and published by St Antony's. This book was released on 2000-03-16 with total page 262 pages. Available in PDF, EPUB and Kindle. Book excerpt: Discusses macro-economic policy-making, trade liberalization, capital flows and financial reforms and their effect on economic growth. Includes a chapter on neoliberal reforms during the Pinochet regime in Chile.

Reforming Latin America's Economies

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Publisher : Springer
ISBN 13 : 0230509908
Total Pages : 258 pages
Book Rating : 4.2/5 (35 download)

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Book Synopsis Reforming Latin America's Economies by : Ricardo Ffrench-Davis

Download or read book Reforming Latin America's Economies written by Ricardo Ffrench-Davis and published by Springer. This book was released on 2005-09-30 with total page 258 pages. Available in PDF, EPUB and Kindle. Book excerpt: Provides a comprehensive analysis of why reforms in Latin America have failed in achieving growth and equity. The book focuses on three strategic areas of reforms of the Washington Consensus: Macroeconomics, Trade and Finance.

The Works and Correspondence of David Ricardo: Volume 11, General Index

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Author :
Publisher : Cambridge University Press
ISBN 13 : 9780521200394
Total Pages : 162 pages
Book Rating : 4.2/5 (3 download)

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Book Synopsis The Works and Correspondence of David Ricardo: Volume 11, General Index by : David Ricardo

Download or read book The Works and Correspondence of David Ricardo: Volume 11, General Index written by David Ricardo and published by Cambridge University Press. This book was released on 1951 with total page 162 pages. Available in PDF, EPUB and Kindle. Book excerpt: Part of an eleven-volume set which contains all of Ricardo's published and unpublished writings, and provides great insight into the early era of political economics.

Ricardo on Money and Finance

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Author :
Publisher : Routledge
ISBN 13 : 1135041806
Total Pages : 267 pages
Book Rating : 4.1/5 (35 download)

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Book Synopsis Ricardo on Money and Finance by : Yuji Sato

Download or read book Ricardo on Money and Finance written by Yuji Sato and published by Routledge. This book was released on 2013-07-18 with total page 267 pages. Available in PDF, EPUB and Kindle. Book excerpt: David Ricardo, one of the major figures in the history of economic thought, particularly in the English classical political economy, deployed his activities as economist just two hundreds of years ago. Since then his economics has been generally estimated as the culminating point of the classical economics, and his name and theory has been exerting an enduring influence up to the present. This book, consisting of articles contributed by historians economic thought on money and finance, intends to reappraise the Ricardo’s monetary and financial thought on the occasion of its bicentenary and to offer historical clues to understanding today’s world wide financial crisis. The book consists of eight chapters divided into three parts. The first part is devoted to the historical back ground of Ricardo’s thought (Hume, Smith, Thornton etc). It serves to bring in relief the originality of Ricardo’s thought in the historical context. The second and central part consists of four chapters discussing the most important aspects of Ricardo’s monetary thought: Ricardo and quantity theory of money, the ideal monetary regime conceived by Ricardo very early in his career and matured till the last moment of his life, plan for the establishment of a national bank. In this part, the relation between the quantity of money and its value in Ricardo’s theory is examined in a new light and Ricardo as a non-quantity theorist. The two chapters in the third and last part discuss the problems raised after Ricardo in relation to his monetary thought. Tracing Ricardo's economic thought to the early 19th century, this book may provide readers insight to help them understand the present day financial crises through his works.