Here you can see the contents of the current issue of Panoeconomicus - 2008-1
Below you can find the articles associated with the current release of the journal.
Shanker Satyanath and Arvind Subramanian:
The Political Economy of Nominal Macroeconomic Pathologies
[Abstract] [fulltext]
Alain Parguez:
Money creation, employment and economic stability: The monetary theory of unemployment and inflation
Panoeconomicus 2008 Volume 55, Issue 1, Pages: 39-67, doi:10.2298/PAN0801039P
[Abstract] [fulltext]
Article Abrstract:
This paper by building on the general theory of the monetary circuit, proves that money-as a pure bank credit liability-exists to overcome constraints on required expenditures by firms, household and mainly the State. From this perspective the paper derives the employment function in the modern monetary economy. Thereby it is explained that full employment policy is both always possible and required. It is proven that this conclusion holds in a perfectly open economy. Ultimately it is explained that there is no trade-off between full employment and sustainable price stability.
Mitik Lulit, Berthomieu Claude:
L’impact de la libéralisation commerciale sur le travail des femmes. Une analyse comparative entre l’Afrique du Sud et l’Ethiopie a l’aide d’une approche en Equilibre Général Calculable
Panoeconomicus 2008 Volume 55, Issue 1, Pages: 69-88, doi:10.2298/PAN0801069L
[Abstract] [fulltext]
Article Abrstract:
The effects of trade liberalization on female labor depend on a country?s socio-economic and employment sector characteristics. A Gender-aware computable general equilibrium model is applied to Ethiopia and South Africa from a comparative perspective. Tariff reduction results in opposite outcomes regarding gender-based wage and labor market participation inequalities in the two countries due to their structural differences in men?s and women?s employment.
Massimo Cingolani:
Full Employment as a Possible Objective for EU Policy I. A Perspective From the Point of View of The Monetary Circuit
Panoeconomicus 2008 Volume 55, Issue 1, Pages: 89-114, doi:10.2298/PAN0801089C
[Abstract] [fulltext]
Article Abrstract:
In two recent contributions Alain Parguez and Jean-Gabriel Bliek argued in favor of assigning a full employment objective to European economic policies and their coordination (Bliek and Parguez (2007) and Parguez (2007b)). Their argument is based on the approach of the monetary circuit, whose treatment of full employment is the object of this article. The approach is presented here as emblematic of ?out of equilibrium? models, i.e. models where the equilibrium conditions of pure competition are not fulfilled. A forthcoming contribution will show how the description of economic reality suggested by the circuit can help interpreting recent macroeconomic developments in the US, Canada, Japan and the EU and will discuss some empirical studies confirming its relevance for policy analysis.
Veselin Vukotić:
Economic Freedom and New Economic Paradigm
Panoeconomicus 2008 Volume 55, Issue 1, Pages: 115-128, doi:10.2298/PAN0801115V
[Abstract] [fulltext]
Article Abrstract:
Are economic freedoms going to clear our way to prosperity? Is the growth of economic freedoms our path to prosperity? Is it in the base of the new understanding of development? If yes, what will necessarily have to be changed in the economic practice of every country and whole world in general? What will be changed in economic theory? What are potential consequences of an attempt to offer resistance to the new concept of development? These are just some of the questions discussed in this paper, whereas the starting point is the economy and economic development of Montenegro.
Alpar Lošonc:
Socialism after Hayek Theodore A. Burczak (The University of Michigan Press, 2006. Advances in Heterodox Economics)
[Abstract] [fulltext]