Michio Morishima
- Published in print:
- 1963
- Published Online:
- November 2003
- ISBN:
- 9780198281450
- eISBN:
- 9780191596650
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0198281455.001.0001
- Subject:
- Economics and Finance, Development, Growth, and Environmental
This book brings together papers that were published by the author in several journals, and which have been revised and contain some new material. The main model carried through the whole book is ...
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This book brings together papers that were published by the author in several journals, and which have been revised and contain some new material. The main model carried through the whole book is Leontief's input–output system, which is dynamized from various points of view. Chapter 1 discusses formal similarities between the exchange equilibrium under weak gross substitutability and the static input–output system. Chapter 2 is concerned with the stability of the mixed Walras–Leontief system. Chapters 3 and 4 are companion chapters dealing with a mixture of the dynamic Leontief system and the Walrasian model of capital formation. Chapters 5 and 6 are devoted to an analysis of the von Neumann model of economic expansion, which may be considered as a variant of the dynamic Leontief system. Finally, an Appendix generalizes the classical theorems on non‐negative matrices to systems of non‐linear and homogeneous functions.Less
This book brings together papers that were published by the author in several journals, and which have been revised and contain some new material. The main model carried through the whole book is Leontief's input–output system, which is dynamized from various points of view. Chapter 1 discusses formal similarities between the exchange equilibrium under weak gross substitutability and the static input–output system. Chapter 2 is concerned with the stability of the mixed Walras–Leontief system. Chapters 3 and 4 are companion chapters dealing with a mixture of the dynamic Leontief system and the Walrasian model of capital formation. Chapters 5 and 6 are devoted to an analysis of the von Neumann model of economic expansion, which may be considered as a variant of the dynamic Leontief system. Finally, an Appendix generalizes the classical theorems on non‐negative matrices to systems of non‐linear and homogeneous functions.
Mette Elise Jolly
- Published in print:
- 2007
- Published Online:
- September 2007
- ISBN:
- 9780199213078
- eISBN:
- 9780191707155
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199213078.003.0002
- Subject:
- Political Science, European Union
This chapter opens with a review of the literature on democracy in the European Union. The most commonly raised ‘deficits’ are discussed, including the argument that the EU lacks accountability, the ...
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This chapter opens with a review of the literature on democracy in the European Union. The most commonly raised ‘deficits’ are discussed, including the argument that the EU lacks accountability, the notion that qualified majority voting can be viewed as undemocratic, the alleged problems caused by extensive lobbying, the social critique, and the socio-psychological argument. It is argued that the socio-psychological question is the most fundamental as this underlies all other discussions about the future of the EU and the EU institutions.Less
This chapter opens with a review of the literature on democracy in the European Union. The most commonly raised ‘deficits’ are discussed, including the argument that the EU lacks accountability, the notion that qualified majority voting can be viewed as undemocratic, the alleged problems caused by extensive lobbying, the social critique, and the socio-psychological argument. It is argued that the socio-psychological question is the most fundamental as this underlies all other discussions about the future of the EU and the EU institutions.
Fred Campano and Dominick Salvatore
- Published in print:
- 2006
- Published Online:
- May 2006
- ISBN:
- 9780195300918
- eISBN:
- 9780199783441
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0195300912.003.0013
- Subject:
- Economics and Finance, Development, Growth, and Environmental
Income distribution models can be incorporated in all kinds of data-based economic macro-models. This chapter shows how this may be accomplished in long- and short-term econometric models. An ...
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Income distribution models can be incorporated in all kinds of data-based economic macro-models. This chapter shows how this may be accomplished in long- and short-term econometric models. An introduction to SAM-based models is also given.Less
Income distribution models can be incorporated in all kinds of data-based economic macro-models. This chapter shows how this may be accomplished in long- and short-term econometric models. An introduction to SAM-based models is also given.
Hiroshi Imamizu
- Published in print:
- 2010
- Published Online:
- January 2011
- ISBN:
- 9780195395273
- eISBN:
- 9780199863518
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780195395273.003.0011
- Subject:
- Neuroscience, Sensory and Motor Systems
Internal models are neural mechanisms that mimic the input-output properties of controlled objects, possibly enabling skillful control of our bodies and external tools. This chapter reviews a series ...
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Internal models are neural mechanisms that mimic the input-output properties of controlled objects, possibly enabling skillful control of our bodies and external tools. This chapter reviews a series of functional magnetic resonance imaging (fMRI) studies investigating the acquisition of an internal model for a novel tool in the human cerebellum, modular organization of internal models for tools with different input-output properties, and switching mechanisms of internal models in the parietal-cerebellar network. Although these studies investigated skills for novel tools, they show intuitive instances of neural mechanisms supporting the acquisition and flexible selection of appropriate skills. A recent study on brain activity related to the imaginary use of common tools (e.g., scissors and a hammer) suggested that the neural mechanisms found in previous work (on uncommon objects and tools) are partly shared by skills for common tools. The chapter discusses how skills acquired in the cerebellum differ from those acquired in the frontal-parietal network, which have long been investigated in neuropsychological studies.Less
Internal models are neural mechanisms that mimic the input-output properties of controlled objects, possibly enabling skillful control of our bodies and external tools. This chapter reviews a series of functional magnetic resonance imaging (fMRI) studies investigating the acquisition of an internal model for a novel tool in the human cerebellum, modular organization of internal models for tools with different input-output properties, and switching mechanisms of internal models in the parietal-cerebellar network. Although these studies investigated skills for novel tools, they show intuitive instances of neural mechanisms supporting the acquisition and flexible selection of appropriate skills. A recent study on brain activity related to the imaginary use of common tools (e.g., scissors and a hammer) suggested that the neural mechanisms found in previous work (on uncommon objects and tools) are partly shared by skills for common tools. The chapter discusses how skills acquired in the cerebellum differ from those acquired in the frontal-parietal network, which have long been investigated in neuropsychological studies.
S. N. Afriat
- Published in print:
- 1987
- Published Online:
- November 2003
- ISBN:
- 9780198284611
- eISBN:
- 9780191595844
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0198284616.003.0019
- Subject:
- Economics and Finance, Microeconomics
This is the second of six chapters on the logic of price, and reviews the characteristics of Leontief's input–output method. The six sections of the chapter are: Quesnay's tableau économique; the ...
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This is the second of six chapters on the logic of price, and reviews the characteristics of Leontief's input–output method. The six sections of the chapter are: Quesnay's tableau économique; the Leontief matrix; production planning; Leontief and Zeno (Zeno's Paradox); productive systems; and a computer demonstration (of Leontief's input–output model).Less
This is the second of six chapters on the logic of price, and reviews the characteristics of Leontief's input–output method. The six sections of the chapter are: Quesnay's tableau économique; the Leontief matrix; production planning; Leontief and Zeno (Zeno's Paradox); productive systems; and a computer demonstration (of Leontief's input–output model).
Michio Morishima
- Published in print:
- 1963
- Published Online:
- November 2003
- ISBN:
- 9780198281450
- eISBN:
- 9780191596650
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0198281455.003.0001
- Subject:
- Economics and Finance, Development, Growth, and Environmental
This chapter discusses formal similarities between the exchange equilibrium under weak gross substitutability and the static input–output system as represented by various Leontief‐type models. By ...
More
This chapter discusses formal similarities between the exchange equilibrium under weak gross substitutability and the static input–output system as represented by various Leontief‐type models. By algebraic operations alone (no infinite processes being used), it is seen that the Hicksian laws of comparative statics and the Le Chatelier–Samuelson principle hold in both systems.Less
This chapter discusses formal similarities between the exchange equilibrium under weak gross substitutability and the static input–output system as represented by various Leontief‐type models. By algebraic operations alone (no infinite processes being used), it is seen that the Hicksian laws of comparative statics and the Le Chatelier–Samuelson principle hold in both systems.
Michio Morishima
- Published in print:
- 1963
- Published Online:
- November 2003
- ISBN:
- 9780198281450
- eISBN:
- 9780191596650
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0198281455.003.0003
- Subject:
- Economics and Finance, Development, Growth, and Environmental
Chapters 3 and the following one are companion chapters dealing with a mixture of the dynamic Leontief system and the Walrasian model of capital formation. However, they assume different types of ...
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Chapters 3 and the following one are companion chapters dealing with a mixture of the dynamic Leontief system and the Walrasian model of capital formation. However, they assume different types of production functions: neoclassical production functions in Ch. 3 and discrete ’activities’ in Ch. 4. Various effects of technological improvements and correlations among prices, wages, and the interest rate are discussed, and it is seen that an efficient balanced growth path exists. A note to Ch. 3 establishes the existence of a solution to the Walrasian equations of capital formation and credit.Less
Chapters 3 and the following one are companion chapters dealing with a mixture of the dynamic Leontief system and the Walrasian model of capital formation. However, they assume different types of production functions: neoclassical production functions in Ch. 3 and discrete ’activities’ in Ch. 4. Various effects of technological improvements and correlations among prices, wages, and the interest rate are discussed, and it is seen that an efficient balanced growth path exists. A note to Ch. 3 establishes the existence of a solution to the Walrasian equations of capital formation and credit.
Michio Morishima
- Published in print:
- 1963
- Published Online:
- November 2003
- ISBN:
- 9780198281450
- eISBN:
- 9780191596650
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0198281455.003.0004
- Subject:
- Economics and Finance, Development, Growth, and Environmental
This chapter and the previous one are companion chapters dealing with a mixture of the dynamic Leontief system and the Walrasian model of capital formation. However, they assume different types of ...
More
This chapter and the previous one are companion chapters dealing with a mixture of the dynamic Leontief system and the Walrasian model of capital formation. However, they assume different types of production functions––neoclassical production functions in Ch. 3, and discrete ’activities’ or processes in Ch. 4, and the model presented in Ch. 4 is more dynamic in character than that in Ch. 3. Various effects of technological improvements and correlations among prices, wages, and the interest rate are discussed, and it is seen that an efficient balanced growth path exists. Chapter 4, in particular, examines the stability of the balanced growth path as well as that of the long‐run equilibrium prices. The author is also concerned with the possibility of the golden age in the model––a multisectoral version of Robinson's problem.Less
This chapter and the previous one are companion chapters dealing with a mixture of the dynamic Leontief system and the Walrasian model of capital formation. However, they assume different types of production functions––neoclassical production functions in Ch. 3, and discrete ’activities’ or processes in Ch. 4, and the model presented in Ch. 4 is more dynamic in character than that in Ch. 3. Various effects of technological improvements and correlations among prices, wages, and the interest rate are discussed, and it is seen that an efficient balanced growth path exists. Chapter 4, in particular, examines the stability of the balanced growth path as well as that of the long‐run equilibrium prices. The author is also concerned with the possibility of the golden age in the model––a multisectoral version of Robinson's problem.
Frederic H. Wagner
- Published in print:
- 2006
- Published Online:
- September 2007
- ISBN:
- 9780195148213
- eISBN:
- 9780199790449
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780195148213.003.0014
- Subject:
- Biology, Ecology
Ungulate grazing, primarily by elk and bison, accelerates nitrogen cycling within the northern-range system by consumption, digestion, excretion, and subsequent mineralization. Ungulate use does not ...
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Ungulate grazing, primarily by elk and bison, accelerates nitrogen cycling within the northern-range system by consumption, digestion, excretion, and subsequent mineralization. Ungulate use does not in and of itself increase or decrease the total nitrogen content of the system. The content is determined by input-output processes that include fixation, denitrification, volatilization, soil erosion, aerosol transport, and seasonal elk movements. Without measurements of the input-output processes, no nitrogen budget for the system can be formulated.Less
Ungulate grazing, primarily by elk and bison, accelerates nitrogen cycling within the northern-range system by consumption, digestion, excretion, and subsequent mineralization. Ungulate use does not in and of itself increase or decrease the total nitrogen content of the system. The content is determined by input-output processes that include fixation, denitrification, volatilization, soil erosion, aerosol transport, and seasonal elk movements. Without measurements of the input-output processes, no nitrogen budget for the system can be formulated.
Tito Boeri, Micael Castanheira, Riccardo Faini, Vincenzo Galasso, Giorgio Barba Navaretti, Carcillo Stéphane, Jonathan Haskel, Giuseppe Nicoletti, Enrico Perotti, Carlo Scarpa, Lidia Tsyganok, and Christian Wey
- Published in print:
- 2006
- Published Online:
- May 2007
- ISBN:
- 9780199203628
- eISBN:
- 9780191708169
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199203628.003.0006
- Subject:
- Economics and Finance, Public and Welfare
This chapter illustrates how regulation in services affected the performance of other sectors in the economy through input-output linkages. The analysis compares the performance of twenty-four ...
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This chapter illustrates how regulation in services affected the performance of other sectors in the economy through input-output linkages. The analysis compares the performance of twenty-four non-service (mostly manufacturing) industries in Germany, Italy, and the UK. It is shown that regulation, however measured, has a negative impact on foreign direct investment (FDI).Less
This chapter illustrates how regulation in services affected the performance of other sectors in the economy through input-output linkages. The analysis compares the performance of twenty-four non-service (mostly manufacturing) industries in Germany, Italy, and the UK. It is shown that regulation, however measured, has a negative impact on foreign direct investment (FDI).
S. N. Afriat
- Published in print:
- 1987
- Published Online:
- November 2003
- ISBN:
- 9780198284611
- eISBN:
- 9780191595844
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0198284616.003.0018
- Subject:
- Economics and Finance, Microeconomics
This is the first of six chapters on the logic of price. Choice presupposes opportunity, and this chapter gives some account of that side of economic models. The four sections of the chapter are: the ...
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This is the first of six chapters on the logic of price. Choice presupposes opportunity, and this chapter gives some account of that side of economic models. The four sections of the chapter are: the production function; general input–output; von Neumann's activity system; and axiomatics of Koopmans's (activity) system. Von Neumann's activity system is further discussed in the last chapter of Part IV (IV.6) as von Neumann's economic model.Less
This is the first of six chapters on the logic of price. Choice presupposes opportunity, and this chapter gives some account of that side of economic models. The four sections of the chapter are: the production function; general input–output; von Neumann's activity system; and axiomatics of Koopmans's (activity) system. Von Neumann's activity system is further discussed in the last chapter of Part IV (IV.6) as von Neumann's economic model.
S. N. Afriat
- Published in print:
- 1987
- Published Online:
- November 2003
- ISBN:
- 9780198284611
- eISBN:
- 9780191595844
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0198284616.003.0024
- Subject:
- Economics and Finance, Microeconomics
This is the first of five chapters on optimal programming (the typical mathematics of economics) and related issues as related to choice making. It introduces the general ideas of optimal programming ...
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This is the first of five chapters on optimal programming (the typical mathematics of economics) and related issues as related to choice making. It introduces the general ideas of optimal programming in economic terms, with reference to the programming problem of a firm. A theorem is proved that is basic to the entire subject, and requires no special assumptions about the programming functions. The ten sections of the chapter are: bounds, limits and maxima; programming problem of a firm; optimal programming theorem; input–output; output limit function; support gradients and marginal values; complementarity; shadow price decentralization; proof of the theorem; and Lagrange multipliers.Less
This is the first of five chapters on optimal programming (the typical mathematics of economics) and related issues as related to choice making. It introduces the general ideas of optimal programming in economic terms, with reference to the programming problem of a firm. A theorem is proved that is basic to the entire subject, and requires no special assumptions about the programming functions. The ten sections of the chapter are: bounds, limits and maxima; programming problem of a firm; optimal programming theorem; input–output; output limit function; support gradients and marginal values; complementarity; shadow price decentralization; proof of the theorem; and Lagrange multipliers.
J. C. Garrison and R. Y. Chiao
- Published in print:
- 2008
- Published Online:
- September 2008
- ISBN:
- 9780198508861
- eISBN:
- 9780191708640
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780198508861.003.0017
- Subject:
- Physics, Atomic, Laser, and Optical Physics
This chapter begins by specializing the general definition of optical amplifiers to a special class of linear amplifiers that includes all those in common use. Amplifiers are divided into the ...
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This chapter begins by specializing the general definition of optical amplifiers to a special class of linear amplifiers that includes all those in common use. Amplifiers are divided into the categories of phase insensitive or phase sensitive, and each of these categories is subdivided into the categories of traveling-wave or regenerative. Illustrative examples are given for each of the four types. This is followed by a general description of single-input, single-output linear amplifiers that includes the input-output equation, the conditions for phase insensitivity, and the constraints imposed by unitarity. This general theory is used to determine the noise limits for linear amplifiers. The general amplifier uncertainty principle obtained in this way shows that there are noise free amplifiers.Less
This chapter begins by specializing the general definition of optical amplifiers to a special class of linear amplifiers that includes all those in common use. Amplifiers are divided into the categories of phase insensitive or phase sensitive, and each of these categories is subdivided into the categories of traveling-wave or regenerative. Illustrative examples are given for each of the four types. This is followed by a general description of single-input, single-output linear amplifiers that includes the input-output equation, the conditions for phase insensitivity, and the constraints imposed by unitarity. This general theory is used to determine the noise limits for linear amplifiers. The general amplifier uncertainty principle obtained in this way shows that there are noise free amplifiers.
Hrishikes Bhattacharya
- Published in print:
- 2011
- Published Online:
- September 2012
- ISBN:
- 9780198074106
- eISBN:
- 9780199080861
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780198074106.003.0010
- Subject:
- Economics and Finance, Financial Economics
The profit and loss account is a flow report which summarises the results of operations for a given period of time. The purpose of analysing the profit and loss account is to know the earning ...
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The profit and loss account is a flow report which summarises the results of operations for a given period of time. The purpose of analysing the profit and loss account is to know the earning capacity of a business. This chapter presents accounting systems which can be used to calculate and interpret certain earning and expense ratios. It discusses the nature of costs and the methods of determining profit. It gives examples of trading, manufacturing, and profit and loss account of a manufacturing concern and uses extracts from the trail balance of company to draw up various final accounts.Less
The profit and loss account is a flow report which summarises the results of operations for a given period of time. The purpose of analysing the profit and loss account is to know the earning capacity of a business. This chapter presents accounting systems which can be used to calculate and interpret certain earning and expense ratios. It discusses the nature of costs and the methods of determining profit. It gives examples of trading, manufacturing, and profit and loss account of a manufacturing concern and uses extracts from the trail balance of company to draw up various final accounts.
John P. Burkett
- Published in print:
- 2006
- Published Online:
- October 2011
- ISBN:
- 9780195189629
- eISBN:
- 9780199850778
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780195189629.003.0002
- Subject:
- Economics and Finance, Microeconomics
This chapter examines simple production processes with only two inputs and one output. It describes methods for solving a cost minimization problem or finding the cheapest combination of inputs that ...
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This chapter examines simple production processes with only two inputs and one output. It describes methods for solving a cost minimization problem or finding the cheapest combination of inputs that produce a given output. This chapter examines simple production processes with only two inputs and one output. It describes methods for solving a cost minimization problem or finding the cheapest combination of inputs that produce a given output. To calculate the cost-minimizing combination of inputs, the isoquant's equation together with a formula equating the marginal rate of substitution (MRS) and the relative price of the input should be on the horizontal axis. If the input qualities obtained are both positive, they constitute an interior solution. However, if one of them is negative then a corner solution is required.Less
This chapter examines simple production processes with only two inputs and one output. It describes methods for solving a cost minimization problem or finding the cheapest combination of inputs that produce a given output. This chapter examines simple production processes with only two inputs and one output. It describes methods for solving a cost minimization problem or finding the cheapest combination of inputs that produce a given output. To calculate the cost-minimizing combination of inputs, the isoquant's equation together with a formula equating the marginal rate of substitution (MRS) and the relative price of the input should be on the horizontal axis. If the input qualities obtained are both positive, they constitute an interior solution. However, if one of them is negative then a corner solution is required.
Ernesto Screpanti and Stefano Zamagni
- Published in print:
- 2005
- Published Online:
- October 2005
- ISBN:
- 9780199279142
- eISBN:
- 9780191602887
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0199279144.003.0009
- Subject:
- Economics and Finance, History of Economic Thought
Deals with the reaction of the Neoclassical School to the criticism levied against it in the inter-war period. Emphasizes the developments of general equilibrium theory and the birth of the new ...
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Deals with the reaction of the Neoclassical School to the criticism levied against it in the inter-war period. Emphasizes the developments of general equilibrium theory and the birth of the new welfare economics due to L. Robbins. Examines the debate on economic calculation under socialism and the birth of the institutional school due to T. Veblen.Less
Deals with the reaction of the Neoclassical School to the criticism levied against it in the inter-war period. Emphasizes the developments of general equilibrium theory and the birth of the new welfare economics due to L. Robbins. Examines the debate on economic calculation under socialism and the birth of the institutional school due to T. Veblen.
Edward Wolff
- Published in print:
- 2012
- Published Online:
- January 2013
- ISBN:
- 9780199646685
- eISBN:
- 9780191748998
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199646685.003.0011
- Subject:
- Economics and Finance, Financial Economics
This chapter speculates that technological spillover effects may have become more important over time as information technology (IT) penetrated the US economy. The rationale is that IT may speed up ...
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This chapter speculates that technological spillover effects may have become more important over time as information technology (IT) penetrated the US economy. The rationale is that IT may speed up the process of knowledge transfer and make these knowledge spillovers more effective. Using US input-output tables for years 1958 through 2007, the chapter compares my new results with Wolff and Nadiri (1993) covering years 1947–1977 and Wolff (1997) covering 1958–1987. The chapter estimates that the direct rate of return to R&D is now 22% and the indirect rate of return to R&D is 37%. The former is higher and the latter has a higher significance level than in the previous studies. Separate regressions on the 1958-1987 and 1987-2007 periods and the addition of successive periods to the sample also suggest a strengthening of R&D spillovers between the 1958–1987 and 1987–2007 periods. These results suggest a strengthening of the R&D spillover effect over time.Less
This chapter speculates that technological spillover effects may have become more important over time as information technology (IT) penetrated the US economy. The rationale is that IT may speed up the process of knowledge transfer and make these knowledge spillovers more effective. Using US input-output tables for years 1958 through 2007, the chapter compares my new results with Wolff and Nadiri (1993) covering years 1947–1977 and Wolff (1997) covering 1958–1987. The chapter estimates that the direct rate of return to R&D is now 22% and the indirect rate of return to R&D is 37%. The former is higher and the latter has a higher significance level than in the previous studies. Separate regressions on the 1958-1987 and 1987-2007 periods and the addition of successive periods to the sample also suggest a strengthening of R&D spillovers between the 1958–1987 and 1987–2007 periods. These results suggest a strengthening of the R&D spillover effect over time.
Saumen Chattopadhyay
- Published in print:
- 2012
- Published Online:
- January 2013
- ISBN:
- 9780198082255
- eISBN:
- 9780199082070
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780198082255.003.0001
- Subject:
- Economics and Finance, Development, Growth, and Environmental
This chapter delineates the broad contours of the book, beginning with a theoretical overview of the human capital theory, the endogenous growth theory, and the input–output analysis. A critique of ...
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This chapter delineates the broad contours of the book, beginning with a theoretical overview of the human capital theory, the endogenous growth theory, and the input–output analysis. A critique of the human capital approach is presented from various perspectives. Economic classification of education is discussed to set the stage for the subsequent policy analysis. This is followed by a critical investigation of the concept of education market to understand the sources of market failure and possible scope for government intervention. A brief critical overview of the rationale behind reposing faith on the private sector and market in the context of various aspects of policymaking in education is presented. The chapter ends with a tour of the Indian education system to identify the challenges and suggest policy responses.Less
This chapter delineates the broad contours of the book, beginning with a theoretical overview of the human capital theory, the endogenous growth theory, and the input–output analysis. A critique of the human capital approach is presented from various perspectives. Economic classification of education is discussed to set the stage for the subsequent policy analysis. This is followed by a critical investigation of the concept of education market to understand the sources of market failure and possible scope for government intervention. A brief critical overview of the rationale behind reposing faith on the private sector and market in the context of various aspects of policymaking in education is presented. The chapter ends with a tour of the Indian education system to identify the challenges and suggest policy responses.
Saumen Chattopadhyay
- Published in print:
- 2012
- Published Online:
- January 2013
- ISBN:
- 9780198082255
- eISBN:
- 9780199082070
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780198082255.003.0004
- Subject:
- Economics and Finance, Development, Growth, and Environmental
The chapter probes deeper into the meaning of an educational production function. It is argued that an educational institution is not similar to any other manufacturing unit or a factory as portrayed ...
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The chapter probes deeper into the meaning of an educational production function. It is argued that an educational institution is not similar to any other manufacturing unit or a factory as portrayed in economic theory and, therefore, an important corollary that there exists a well-defined input–output relation in the provision of education is hardly tenable. Though an educational institution produces many products and uses a variety of inputs of varied quality, it is difficult to define input and output for an educational institution. Concepts used in economic theory like efficiency, rate of return, cost, and productivity which are applied to education are, therefore, questionable. So policy conclusions which follow from the measurement of cost and productivity are to be considered with extreme caution.Less
The chapter probes deeper into the meaning of an educational production function. It is argued that an educational institution is not similar to any other manufacturing unit or a factory as portrayed in economic theory and, therefore, an important corollary that there exists a well-defined input–output relation in the provision of education is hardly tenable. Though an educational institution produces many products and uses a variety of inputs of varied quality, it is difficult to define input and output for an educational institution. Concepts used in economic theory like efficiency, rate of return, cost, and productivity which are applied to education are, therefore, questionable. So policy conclusions which follow from the measurement of cost and productivity are to be considered with extreme caution.
Nelson Spruston, Greg Stuart, and Michael Häusser
- Published in print:
- 2007
- Published Online:
- March 2012
- ISBN:
- 9780198566564
- eISBN:
- 9780191724206
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780198566564.003.0014
- Subject:
- Neuroscience, Molecular and Cellular Systems
The essence of neuronal function is to generate outputs, usually in the form of action potentials, in response to inputs, in the form of synaptic potentials. The morphology and membrane properties of ...
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The essence of neuronal function is to generate outputs, usually in the form of action potentials, in response to inputs, in the form of synaptic potentials. The morphology and membrane properties of dendrites are extremely important determinants of this input-output transformation. This chapter discusses the many factors affecting the dendritic integration of synaptic potentials, including the site of action potential initiation and dendritic excitability.Less
The essence of neuronal function is to generate outputs, usually in the form of action potentials, in response to inputs, in the form of synaptic potentials. The morphology and membrane properties of dendrites are extremely important determinants of this input-output transformation. This chapter discusses the many factors affecting the dendritic integration of synaptic potentials, including the site of action potential initiation and dendritic excitability.