Abstract This paper compares the and contrasts the East Asian miracle economies of Japan, South Korea, Taiwan, Hong Kong, and Singapore. It further weighs the commonalities between these national economies in order to determine whether there is an economicmodel that can be transferred to other societies. The conclusion this paper reaches, is that there is not, as the differences are too great and even the commonalities are obsolete in the new global economy.
Abstract This paper examines one particular economicmodel, the aggregate supply-aggregate demand model, both as an abstract economicmodel and as a way of helping to predict in a rational fashion the direction that the U.S. economy may be taking in the future.
From the Paper "Those of us who are not economists may tend to think of such terms as "aggregate supply" or even "recession" as vaguely incantatory ? words that conjure up not ways to describe rational if complex (and therefore in many ways unpredictable) process but the dark arts of sorcery. But while economics is certainly not a precise natural science like chemistry (because the phenomenon involved are both so complicated and so subject to change because of different historical influences), it is of course a rational methodology through which to explain the ways in which various resources flow through the human community."
Abstract This paper uses the example of the increasing monopolization of the telecommunications industry to demonstrate the need for economicmodels that can help resolve issues of monopolization. The paper describes the purpose of economicmodels, the different types of models, and some of the factors and data that the models consider.
Outline
An Agent-Based EconomicModel Telecommunications market structure, development, and impact studies
Demand analysis and forecasting studies, modeling Service and Network Cost Studies and Models Comparative tariff, policy, and market analyses
Tariff Model -- International Comparisons
OECD Basket Comparisons of Telephone Services Charges - August 1997
Multivariable Regression
The Classical Model The Classical Model of Production and Employment
Labor Demand
Labor Supply
Equilibrium
Aggregate Supply and Demand
Loanable Funds
Taxes on Labor Income
Animal Spirits
The Keynesian IS/LM Model Tax Model (The Simple Keynesian Model)
Paradox of Thrift
The Mundell-Fleming Model Real Business Cycles
The IS/MP Model
From the Paper "With the agressive deregulation in the telecommunications industry in the United States and Europe during the early to mid-1990?s, it seemed that the local monopolies would be forced to unbundle their networks. However, MCI WorldCom, the second largest US long distance telecommunications company, announced in October 1999, that it would acquire Sprint, the third largest US long distance company, in the biggest corporate takeover in history. The merger is valued at $129 billion in cash, stock and debt. The resulting firm will be second only to AT&T in the US telecommunications industry, a company with, as of 1999, $65 billion in annual revenue, 142,000 workers and 40 million business and residential customers (McGaughlin, 1999)."
Abstract The Telecommunications Act of 1996 sought to end the monopoly that once existed in the telecommunications industry. Since its adoption, the telecommunications industry has been undergoing a period of rapid change and development. The entry of new players into the market encouraged them to seek new ways to attract and keep customers. The paper shows that these changes have led to a rapid influx of new technology and services. Many times what defines a monopoly is not clear in every circumstance and there are many pending lawsuits for violations of antitrust laws in the courts today. The paper explains that economicmodels are useful in resolving issues of whether a monopoly truly exists, or whether claims are unsubstantiated. Previous models were applicable only in certain situations. These models are unreliable in predicting monopolies outside the parameters for which they were designed. This research develops and tests an economicmodel that accurately predicts the existence of a monopoly in the telecommunications sector. The paper includes tables and figures.
Table of Contents:
Chapter 1: Introduction
Rationale for Study
Scope of Problem
Statement of Hypothesis and Research Questions
Chapter 2: Literature Review
The Telecommunications Industry
EconomicModels of a Monopoly
Michael Porter and Monopolies and Clusters
Knowledge Engineering in Relation to Monopolies and Business
Intelligence Applied to Monopolies
Chapter 3: Methodology
Database of Study and Data-Gathering Method
Sample Population
Chapter 4: Data Analysis
Chapter 5: Findings and Conclusions
From the Paper "Even a casual review of its circumstances today makes it quickly apparent that the telecommunications industry is a complex entity and there are multiple sub-industries within the primary industry. The telecommunications industry has gone from a relatively pure monopoly to an attempted competition, and now it is questionable as to whether it is gravitating towards a monopoly again. In addition, there are now more products and services available. The market is no longer comprised of one market. There is a long-distance market, a local service market, and a cell phone and wireless market. All of these markets have different characteristics and the previously existing models fail to useful in all areas of the telecommunications industry."
Abstract This paper examines how it is generally believed that the more the economy grows or slows down, the more all voters reward or punish the incumbent party for improving or worsening their economic situation and how presidential approval ratings often drive the results of the economicmodels of voting. It looks at how these approval ratings are typically conceptualized as capturing both non-economic factors and other economic factors beyond near-election economic growth. It discuss two major economicmodels, the competency and low-cost of voting, both of which show how economic outcomes may affect party choice.
From the Paper "It is logical to expect public support for the EU, as a relatively new political system, to be more responsive to short-run policy outcomes than is public support for political institutions in mature democracies. In other words, EU institutions might not benefit from broad legitimacy. Thus, the European publics have a tendency to blame EU institutions rather than policy-makers for short-run policy failures. However, even if this is the case, only a weak theoretical connection exists between EU policy and domestic economic performance (Palmer 1995). Until very recently, the EU was responsible for neither fiscal nor monetary policies. And while EU membership represents a constraint on national economic policies, historically, this effect has been indirect."
Abstract This paper examines the Japanese economicmodel following the crisis of 1990. It identifies the causes of the crisis and discusses key areas of reform. The author also mentions the country's political economy, strategic orientations and the nature of its business system. The convergence of the Japanese model with the Anglo-American model is also discussed.
From the Paper "Asian economies and business systems are increasingly being influenced by the dynamics of globalization. The Japanese model in particular is going through a slow and problematic process of transformation that ..."
Tags: globalization, Japan, economy, Anglo-American economicmodel, Japanese economicmodel, political economy, kudoka, strategic orientations, Japanese business system, economic crisis
Abstract This paper analyzes how the Telecommunications Act of 1996 sought to end the monopoly that once existed in the telecommunications industry. Since its adoption, the telecommunications industry has been undergoing a period of rapid change and development. The entry of new players into the market encouraged them to seek new ways to attract and keep customers. These changes have led to a rapid influx of new technology and services. Many times what defines a monopoly is not clear in every circumstance and there are many pending lawsuits for violations of Anti-trust laws in the courts today. Economicmodels are useful in resolving issues of whether a monopoly truly exists, or whether claims are unsubstantiated. Previous models were applicable only in certain situations. These models are unreliable in predicting monopolies outside the parameters for which they were designed. This research evaluates and analyzes economicmodels that could accurately predict the existence of a monopoly in the Telecommunications sector.
Introduction
Rationale for Study
Scope of Problem
Statement of Hypothesis and Research Questions
Literature Review
Methodology
Sample Population
Data Analysis
Findings
Conclusion
From the Paper "The telecommunications industry is important and considered a vital part of our everyday lives. The telecommunications industry represents only a small portion of the country's Gross Domestic Product, only 1-2% (Stigiltz, 1998). While this amount may seem insignificant, the services that it provides are vital to every other sector in the economy. Telecommunications is the backbone of many other sectors.
The Telecommunications Act of 1996 is one of the most highly debated topics in economics. There are some that say that it has been ineffective and that we now have a monopoly again, as a result of mergers and acquisitions. There are others who say that it has had the intended result, but that the movement towards a competitive marketplace does not happen overnight. Poulson (1997) believes that achieving a fair market in Colorado will not be immediate and will take some time. There are others who believe that it is working in some cases and not working in others. Alaska is moving towards a more competitive marketplace on a local level. Rural communities often have a localized monopoly as there are not enough customers to attract competition (APUC, 1997).
Michael Porter states that "Paradoxically, the enduring competitive advantages in a global economy lie increasingly in local things - knowledge, relationships, and motivation that distant rivals cannot match (Porter, 1998). He is referring to what is known as clusters, which he defines as one place of unusual competitive success in particular fields. Examples of clusters can be found across industries and around the globe. Examples of clusters include Silicon Valley, Hollywood, the California Wine Valley and the Italian Leather Fashion sector.
Clusters can be characterized by the interconnected network of suppliers, service providers and producers who are geographically aligned and who have positive dependencies and cooperation with one another. Alfred Marshall's Principles of Economics points out that location based clusters that conduct specific types of business and economic activities form based on the sharing of "tacit" knowledge among business participants. (Krugman, 1991) The success of a cluster depends not only on what operating strategy firms employ, but also on the surrounding business environment. Clusters differ from the traditional definition of a monopoly in that competition and cooperation are vital to the success of the business. According to Porter, there are three overarching ways that clusters influence competition:
1.Productivity of companies is increased by the dynamics of a cluster.
2.Clusters tend to direct the pace of innovation through competition and cooperation.
3.Clusters actually support the growth of new business - each individual business can benefit from the scale of the cluster."
Abstract This paper explains that, beginning in the early 1990s, India began to redirect its political and economic apparatus towards a more free-market orientation, which has resulted in a cycle of remarkable growth and expansion. The author points out that, beginning in 1991, political leaders ended the traditional License Raj economicmodel, which resulted in monopolistic behavior and stifled foreign direct investment. The paper relates that some of India's economic expansion has been attributed to its insistence on expanding public expenditures within the market. The author points out that India deems all public expenditure to be development related and views this type of investment as a requirement rather than a socially driven discretionary investment. The paper reports that a value added tax (VAT), other tax code adjustments and a fully convertible currency were introduced.
Table of Contents:
Introduction
Initial Reforms
Market Liberalization
Current Economic Status
From the Paper "The country's revenue expenditures have increased across some spending segments by as much as 400% between 1990 and 2004 and this spending has continued to fuel economic growth. These large spending and investment packages are achievable because of the market reforms made during 1991. While much of India's population that exceeds 1b individuals is classified as impoverished, it still represents one of the largest tax bases in the world after China. Such a large potential tax base was going relatively untouched until 1991 when the tax codes and collection apparatus procedures were also reformed."
Tags: free-market, license raj economicmodel, public expenditure, currency, tax
Abstract This paper discusses the spread and effect of globalization as a world economicmodel to facilitate commerce and financial integration. Additionally, the ill-effects of globalization are examined, such as outsourcing, which entails the migration of operations overseas to foreign borders. Outsourcing is particular savage for advanced economies such as the United States where first the manufacturing and production jobs migrate only to be replaced later by service and technology positions later.
From the Paper "Globalization is the economic catchphrase of the 21st century. People use it to explain many things but when asked to define it, the term often defies explanation. One source defines globalization as: The integration of the world's culture, economy, and infrastructure driven by the lowering of political barriers to transnational trade and investment, and by the rapid proliferation of communication and information technologies. The term is often used in reference to the substantial impact of free-market forces on local, regional and national economies. (Globalization, Commanding... 1) The key points in the given definition would seem to be culture, economy, and infrastructure, since globalization is often blamed or praised for phenomena within each of these areas. Culture, because globalization tends to blur delineations between them; economy because globalization appears to benefit the more efficient economies; and infrastructure because the mechanisms of communication, transportation, and knowledge transfer facilitate it."
A discussion regarding socialist economies that are in a transition from a controlled, centralized planning economicmodel to a decentralized capitalist economicmodel.
1,350 words (approx. 5.4 pages), 1 source, 2006, $ 53.95
Abstract This paper reviews the term "transition economies" which defines those socialist command economies that, in the late 20th and early 21st centuries, attempted a transition from a state controlled, centralized planning economicmodel to a decentralized capitalist economicmodel. The paper lists these transition economies as being Russia, Poland, China and Vietnam. Transition economies are generally classified under one of two categories: the shock model and the gradualism model. The paper further discusses how these categories refer to the rate of economic and political change in these societies during their transitional periods. States that applied the gradualism model include Poland and China, while the shock model is commonly applied to cases such as that of Russia.
Abstract This paper discusses an empirical economic impact model based on market research at the community and municipality level. The writer discusses the belief that communities and municipalities require effective economic impact models in order to adequately build and estimate budgets as well as to plan for future development needs. The writer proposes a community based cooperative action program that emphasizes a three component economic analysis model.
Table of Contents:
Introduction
Impact Model Applicability
Economic Impact Analysis
Economic Impact Component
Community Impact Component
Fiscal Impact Component
Three Phase Process
Conclusion
From the Paper "The contemporary economic climate ensures that communities require ready and immediate access to information that allows them to respond more effectively to economic volatility. Community leaders as well as citizens within the community constantly are required to make decisions that impact various aspects of the community, such as business growth, dimensions of traditional industry activities, land use issues, and a host of other common community concerns (Gibbs 18). The growing observation is that all these issues and more also impact the overall economic indicators within communities as well which consist of employment/unemployment concerns, income issues such as poverty or affordable housing, or the demand for expanded public services. In researching these issues it becomes vital to identify the particular issue or problem which allows both the researcher and the community leader the ability to better address such issues specifically (Green, et al 6). Thus, developing effective economic models relies on cooperation between both researcher and, in effect, the researched."
This paper argues that proposals, such as national healthcare and asset models for education, are noble attempts to fix inequities in the United States, but economic realities, namely resource constraints, make them impractical.
Abstract This paper explains that, although critics of the American system point out that there are too many poor, uninsured Americans and claim that national health care would eliminate this problems while providing better service at a lower cost, evidence shows that taxes would skyrocket and healthcare services would deteriorate under national healthcare. The author relates that critics of the U.S. education system attack the deficit model of education for reinforcing negative stereotypes about minority and urban youth and want to replace it with an asset model that builds learning strategies around the personal skills, interests, language and culture of individual students. The paper stresses that implementation of the asset model would call for additional funding to add teachers, but budget reductions is the current educational trend in at least 29 states.
From the Paper "Four minority groups, Native Americans, African Americans, Hispanics and Asian Americans, dominate the population of 185 counties and 2,000 towns and cities. And, there's increasing immigration from Central and South America, the Caribbean Islands, East Asia, and Slavic countries such as Russia. Given this diversity and the student to teacher ratios, it's difficult to imagine how teachers could possibly understand the dynamic and diverse social relationships of family, friendship and community that are unique to each group and incorporate them into their teaching."
Abstract This paper looks at the Heckscher-Ohlin Model as an example of global trading patterns and seeks an explanation for why the Leontief paradox occured and why it is that Factor price equalization does not seem to have occurred. It contains references to relevant American trading data as well as two detailed tables of international economics data.
From the Paper "International trade is a logical and natural advance in the affairs of man. If one has a good to barter with then an optimal level of indifference between different goods can be achieved. However there is much debate about whether trade is due entirely to a relative abundance of supply of a particular factor or are there other reasons. Ever since Eli Heckscher, based on a hunch, unveiled his ideas on international trade theory, in 1919 it has been held, by some, as a satisfactory explanation of International Trade, however, is it really that clear cut? "
Tags:economics, Heckscher, Leontief, model, Ohlin, paradox, ricardian, trade, world
Abstract This paper looks at how conclusions of the neo classical model of prices and markets are undermined by the existence of market failure and by the implied assumption that economic agents do not learn from experience.
Abstract This paper shows that gambling is a legitimate industry, using the 'bathtub model,' and analyzes its ultimate effects with input-output modeling. It investigates government regulation of the industry and analyzes its effects and the necessity of regulation, also examining moral and legal objections. The paper is well researched and relies heavily on expert opinion to prove the viability of the gaming industry.
From the Paper "People have had demand for the act of gambling (as well as aversion to it) for many ages. The distant past held gambling in the esteem of being communication from the gods, in whose eyes a lucky gambler held favor (Encarta 2002). Not much has changed, as people still recognize the exceptionality of 'beating the odds,' and the foolishness of expending too many resources in attempt to do so. By nature, the act adversely affects many personal finances; the industry, into which it has developed in modern day America, though, should not be so simply evaluated. This paper will explore the gaming industry's value by questioning its role in the American economy."
Tags: bathtub, berlin, economics, economy, frey, gambling, gazel, industry, model
