38 documents found, page 1 of 4

Technological waves, income functions and surplus-value of equipment : a new ap...

The purpose of this paper is to study the relations between the concept of technical progress of a certain type (technological wave with technical progress embodied in innovative capital) and the concept of surplus-value of the stock of equipment. For that purpose we define an income function instead of a production function.

Accumulation of capital, production functions and models of economic growth

This paper is about the possible interdependence of the assumptions related to the properties of the process of accumulation of capital and the properties of the production function as they are used in models of economic growth. The case of a semi-bounded substitution production function exemplifies this kind of interdependence and the consequent restrictions that may condition economic growth.

Technological waves and economic growth : thoughts on the digital revolution

This paper develops concepts and theoretical models that can prove useful for the study of technological revolutions both from the point of view of economic growth theory and of economic history. The basic concepts are innovative capital, technological wave and technological revolution and a comparison is made with other concepts such as industrial revolution and social revolution in the Marxian sense.

New approach to the optimization problem

A new approach to the problem of optimization is developed using tools such as the concepts of aggregate and of combined functions. The solving of a simple problem of calculus of variations with inequality constraints illustrates the potentiality of this new method.

Global value chains, value-added generation and structural change in EU core an...

Backward and forward integration are growing in most sectors across the European Union (EU). To benefit from this increasing participation in Global Value Chains (GVC), the increase in imports, namely of intermediate inputs, should be followed by adequate growth in exports. The external dependency of many industries and the corresponding low domestic value-added generated in production, combined with relatively...

Semimetric spaces : topological considerations

A moeda: economia e política

A moeda é o conjunto de activos de uma economia que os agentes económicos usam regularmente para adquirirem bens e serviços a outros agentes económicos. A moeda não é a única forma de reserva de valor. O termo riqueza é usado para referir o total de todas as reservas de valor, incluindo moeda e activos não-monetários. A moeda é o meio de troca da economia, sendo um activo bastante líquido. A política monetária ...

Convexity in semi-metric spaces, decision theory and consumer theory

Convexity is a concept usually developed in vector spaces. However since the seventies of the 20th century, convexity is also study in metric spaces in general. In this paper we develop a theory of convexity - including convex real functions - in semi-metric spaces and we suggest some possible applications in Economics and Decision Theory.

Self-defeating austerity? Assessing the impact of fiscal consolidations on unem...

The great recession of 2008/2009 has had a huge impact on unemployment and public finances in most advanced countries, and these impacts were magnified in the southern Euro area countries by the sovereign debt crisis of 2010/2011. The fiscal consolidation imposed by the European Union on highly indebted countries was based on the assumptions of the so-called expansionary austerity. However, the reality so far s...

The trade-off unemployment rate/external deficit : assessing the economic adjus...

This article presents an evaluation of the economic adjustment program negotiated between the Portuguese government and the Troika (European Commission, ECB and IMF) in May 2011, with an assessment different from the usual exercises. Instead of an ex-post comparison between the actual results and the proposed targets, an ex-ante assessment of the forecast errors is made. It is shown that these errors could be a...