LEADER 04179nam 22006135 450 001 9910254864103321 005 20230303071123.0 010 $a4-431-55004-6 024 7 $a10.1007/978-4-431-55004-4 035 $a(CKB)3710000000608111 035 $a(EBL)4335085 035 $a(DE-He213)978-4-431-55004-4 035 $a(MiAaPQ)EBC4335085 035 $a(PPN)195648552 035 $a(EXLCZ)993710000000608111 100 $a20160113d2016 u| 0 101 0 $aeng 135 $aur|n|---||||| 181 $ctxt$2rdacontent 182 $cc$2rdamedia 183 $acr$2rdacarrier 200 10$aModern Classical Economics and Reality $eA Spectral Analysis of the Theory of Value and Distribution /$fby Theodore Mariolis, Lefteris Tsoulfidis 205 $a1st ed. 2016. 210 1$aTokyo :$cSpringer Japan :$cImprint: Springer,$d2016. 215 $a1 online resource (253 p.) 225 1 $aEvolutionary Economics and Social Complexity Science,$x2198-4212 ;$v2 300 $aDescription based upon print version of record. 311 $a4-431-55003-8 320 $aIncludes bibliographical references at the end of each chapters and index. 327 $a1 Old and Modern Classical Economics -- 2 Modern Classical Theory of Prices and Outputs -- 3  Values, Prices and Income Distribution in Actual Economies -- 4 Measures of Production Price-Labour Value Deviation and Production Conditions -- 5 Spectral Decompositions of Single-Product Economies -- 6 Brody fs Stability and Disturbances. 330 $aThis book presents an in-depth, novel, and mathematically rigorous treatment of the modern classical theory of value based on the spectral analysis of the price?profit?wage rate system. The classical theory is also subjected to empirical testing to show its logical consistency and explanatory content with respect to observed phenomena and key economic policy issues related to various multiplier processes. In this context, there is an examination of the trajectories of relative prices when the distributive variables change, both theoretically and empirically, using actual input?output data from a number of quite divers e economies. It is suggested that the actual economies do not behave like the parable of a one-commodity world of the traditional neoclassical theory, which theorizes the relative scarcities of ?goods and production factors? as the fundamental determinants of relative prices and their movement. By contrast, the results of the empirical analysis are fully consistent with the modern classical theory, which makes the intersectoral structure of production and the way in which net output is distributed amongst its claimants the fundamental determinants of price magnitudes. At the same time, however, these results indicate that only a few vertically integrated industries (?industry core? or ?hyper-basic industries?) are enough to shape the behaviour of the entire economy in the case of a disturbance. This fact is reduced to the skew distribution of the eigenvalues of the matrices of vertically integrated technical coefficients and reveals that, across countries and over time, the effective dimensions of actual economies are surprisingly low.   Normal 0 false false false EN-US JA X-NONE />. 410 0$aEvolutionary Economics and Social Complexity Science,$x2198-4212 ;$v2 606 $aEconomic policy 606 $aEconometrics 606 $aEconomics 606 $aEconomic Policy 606 $aQuantitative Economics 606 $aPolitical Economy and Economic Systems 615 0$aEconomic policy. 615 0$aEconometrics. 615 0$aEconomics. 615 14$aEconomic Policy. 615 24$aQuantitative Economics. 615 24$aPolitical Economy and Economic Systems. 676 $a330 700 $aMariolis$b Theodore$4aut$4http://id.loc.gov/vocabulary/relators/aut$0852985 702 $aTsoulfidis$b Lefteris$4aut$4http://id.loc.gov/vocabulary/relators/aut 801 0$bMiAaPQ 801 1$bMiAaPQ 801 2$bMiAaPQ 906 $aBOOK 912 $a9910254864103321 996 $aModern Classical Economics and Reality$91939176 997 $aUNINA