This paper estimates the response of output to changes in the real exchange rate in four transitional economies. The theoretical effect is ambiguous since the demand-side effect works against the supply-side effect. On the demand-side, a depreciation of the real exchange rate should improve competitiveness and enhance the demand for output, whereas the supply-side effect suggests that output ma...

The fundamentals of an exchange economy, the preferences of individuals, can be identified from the competitive equilibrium correspondence, which associates equilibrium prices of commodities to allocations of endowments; the argument extends to production economies. The essential step is the identification of fundamentals from aggregate demand as a function of the prices of commodities and the ...

Two competing models concerning food transfers prominent in the anthropological literature conceptualize such transfers either as sharing or as exchange. Sharing is understood as situational transactions formed through demands and unconditional giving, whereas reciprocal exchange is understood in terms of networking and keeping score. I propose that the picture is more complicated than these cl...

The lack of real-time pricing in many retail electricity markets requires implementation of a response mechanism for curtailing demand, particularly during peak load periods. Following a review of transaction cost economics and an analysis of options available, a market based on the exchange of consumption rights is suggested as an alternative to the commonly used hierarchical methods of demand...

in this article, demand equations for import of consumer, intermediate and capital goods for the period 1971(2) to 1999(1), is estimated and analyzed, using the ardl pesaran & shin method. the results show that the behavior of the different categories of imported goods in iran is best explained by the parallel market exchange rate, implying this rate is a closer approximation fir the opportunit...

Ireland’s participation in stage three of Economic and Monetary Union precludes exchange rate adjustment in response to asymmetric shocks. A Structural VAR model is used to decompose the effects of asymmetric supply, demand and nominal disturbances on macroeconomic imbalances between Ireland and the UK and on the Irish pound-sterling exchange rate. The results indicate that supply shocks accoun...