Open research questions in Economic Theory and Policy
29 unresolved questions extracted from the limitations and future-work sections of 2,340 Economic Theory and Policy papers in our library. Each links back to the study that raised it.
What the literature leaves open
These include the ways market power is defined and measured; the use of accounting data to estimate markups; the quantitative implications of theoretical connections among markups, prices, costs, scale elasticities, and profits; and conflicting evidence on whether greater market power has led to lower investment rates and a lower labor share of income.
On the other hand, this process reveals with greater clarity than others the general process of accentuation and deepening of the depen- dent articulation of the Latin American economy, since the emergence and expansion of the 'marginal pole' comes from the monopolistic hegemony in the overall structure, that is from the development almost exclusively limited to the levels most tightly controlled by the interests of international monopoly capitalism.
We underscore various gaps in the literature and articulate a future research agenda that highlights four main areas: measurement, interactions among reforms, political economy considerations, and the timing of the implementation of reforms.
Despite some successes along the way, the main goals of the Abenomics were unfulfilled during Shinzo Abe’s term of office, and Japan’s economic problems remain to be solved by the next governments.
Throughout this discussion, I characterize the congruencies and incongruencies between macro evidence and micro views of market power and, when they do not perfectly overlap, explain the open questions that need to be answered to make the connection complete.
The paper evaluates the impact of each program on macroeconomic stability, arguing that direct job creation has inherent stabilization features that are lacking in the basic income proposal.
Jakie są względne zalety makroekonomiczne i wpływ na środowisko płynące z bezpośredniego tworzenia miejsc pracy oraz dochodu podstawowego? · 2017 · DOIHowever, even when we extend the analysis to include micro-level financialization, it is still insufficient aggregate demand that is underlying the twin diseases—secular stagnation and a growing dualization—afflicting the U.
The New Normal: Demand, Secular Stagnation, and the Vanishing Middle Class: A Reply to James K. Galbraith and William Lazonick · 2017 · DOIOther chapters also suffer from a lack of historical perspective, relying too heavily on certain sources that have not fully understood the dynamics of what was happening at the time.
WMFs outperform CFs under both recessionary and expansionary macroeconomic conditions, and this suggests that the greater survivability of WMFs cannot be explained merely by the fact that members exercise their control rights over the dissolution decision when outside job opportunities are scarce.
Are Worker-Managed Firms More Likely to Fail Than Conventional Enterprises? Evidence from Uruguay · 2014 · DOIFinally, it is argued that analysis of the profit rate short-term dynamics is insufficient to provide a specific characterization of the neoliberal crises in opposition to the crises of the Keynesian period in the U.
The Cyclical Decline of the Profit Rate as the Cause of Crises in the United States (1947-2011) · 2013 · DOIAlthough the idea is provocative, we conclude that the notion of ‘moving away from IRAs’ is insufficient to characterise the new politics of pension reform.
Are Old-age Pension System Reforms Moving Away from Individual Retirement Accounts in Latin America? · 2010 · DOIDue to a gap in the literature, which has focused little attention on the political conditions and economic motivation by which important steps were taken towards achieving autonomy, we analyze the relations between autonomy and stability from a historical-institutional perspective.
In spite of the conflicting evidence, the IDB concludes that neoliberal reforms need to be deepened.
The Inter-American Development Bank's Assessment of Structural Adjustment: Questionable Theory and Pre-ordained Policy · 2001 · DOIMy main goal in this essay is to say something about leftover open questions in macroeconomics, as well as new phenomena that need to be accommodated in early 21st century macroeconomics, and the sorts of ideas that might make progress possible.
It argues that constraints placed on the formation of credit intermediaries in Latin America by poorly defined property rights and government regulatory policies produced greater concentration in the Mexican and Brazilian cotton textile industries than that which developed in the United States.
Industrial Concentration and the Capital Markets: A Comparative Study of Brazil, Mexico, and the United States, 1830–1930 · 1991 · DOIIn a manner that is still insufficiently analyzed and described in the literature, one socialist country after another has embarked upon radical economic reforms.
The crisis arises where the stock of consumer goods is insufficient to support the amount of investment undertaken in the boom; that is, it is caused by a disproportionate amount of capital goods being produced relative to consumer goods.
Its courting of headlines, seeking to justify its existence, always will incite undue attention in the news media to a whole series of matters which are lacking in real public importance.
Thus far we have not investigated sufficiently which factors influenced the sharp change in personal income trends after the first years of the reform.
The Novotný group had a very limited knowledge of economics, and their thinking was dominated by simplified theorems of expanded reproduction which regarded high investment as the major vehicle of growth.
11 Although its data are limited to the physical size of agricultural land (as opposed to the value of all real estate), the results of the C.
While sincerely wishing for the success of such a plan, we must nevertheless examine carefully the various policies to see whether they are likely to attain the desired objectives, and if not, in what way they are lacking.
Most-cited papers in Economic Theory and Policy
- Macroeconomics and Market Power: Context, Implications, and Open Questions · The Journal of Economic Perspectives · 2019 · 264 citations
- Industrial Concentration and the Capital Markets: A Comparative Study of Brazil, Mexico, and the United States, 1830–1930 · The Journal of Economic History · 1991 · 87 citations
- Toward a Macroeconomics of the Medium Run · The Journal of Economic Perspectives · 2000 · 81 citations
- Are Worker-Managed Firms More Likely to Fail Than Conventional Enterprises? Evidence from Uruguay · Industrial and Labor Relations Review · 2014 · 68 citations
- The Political Economy of Industrial Policy · The Journal of Economic Perspectives · 2024 · 60 citations
- Managerial and Financial Barriers to the Green Transition · Management Science · 2024 · 54 citations
- Economic Globalization's Polycrisis · International Studies Quarterly · 2024 · 51 citations
- Do economists replicate? · Journal of Economic Behavior & Organization · 2023 · 46 citations
- Global inequality as one of the root causes of the financial crisis: a suggested explanation · Economy and Society · 2011 · 44 citations
- The Concept and Evolution of the Developmental State · International Journal of Political Economy · 2008 · 41 citations
Most recent work
- Rethinking the Social and Solidarity Economy and Its Potential for Socio-Ecological Transitions: A Mesoeconomic Approach · Interventions économiques · 2026
- Financial structures and monetary and fiscal policies · Journal of Evolutionary Economics · 2026
- Is There a Growth Imperative Inherent in Our Financial System? · American Journal of Economics and Sociology · 2026
- Gesell's Natural Economic Order as a Blueprint for a “Fairconomy” and a Sustainable Future · American Journal of Economics and Sociology · 2026
- Sectoral Investment in Input-Output Frameworks: A Note on Stamegna et al. (2024) · Peace Economics Peace Science and Public Policy · 2026
- The Economic Singularity: Core Mathematical Model · ICCK Journal of Applied Mathematics · 2026
- Mixing It Up: Inflation at Risk · Journal of Money, Credit and Banking · 2026
- ENTREVISTA COM PROF. DR. PAULO MORCEIRO: POLÍTICA INDUSTRIAL E DESINDUSTRIALIZAÇÃO NO BRASIL RECENTE · 2026
- Macroeconomics and Regional Dynamism: Notes on New Determinants and Recent Interpretations · Revista Brasileira de Estudos Urbanos e Regionais · 2026
- Un economista socialista. Léon Walras · Revista de Economía Institucional · 2026
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