Contrary to the view that complex dynamical systems are curiosities at a safe distance from core tenets of economics, it is shown that they undermine a few fundamental constructs and models. The long run macroeconomic ...

We examine the most likely strategy of product differentiation by newly entering multinational firms when market reforms begin in a developing economy. We argue that incumbents in a non-contestable protected market do not ...

There is a substantial and growing literature on the topic of sustainability, but no consensus on a working definition has emerged yet. The rational pursuit of sustainability is only possible if we can develop a working ...

By international standards, New Zealand’s recent business cycle fluctuations are remarkably volatile. Some bivariate regularities observed in developed economies are weak and sometime uncertain. Are these features endemic ...

Recently the pricing problem of a monopolist producing several different qualities of a product has received some attention in the literature. Mussa and Rosen (1978) studied the optimal product mix of a monopolist producing ...

In a corrupt tax administration a rise in tax rate sets about complicated strategic decision moves by both tax payers as also tax administrators. It is shown that in some circumstances, this may bring about a Laffer like ...

This paper examines in the context of a developing agrarian economy aspects of the Post Keynesian theories of inflation caused by income distribution conflict and of endogenous money creation. It highlights the ability of ...

The present work addresses both issues in the context of income tax evasion. About the first it proves a rather strong result, namely that if rewards are related to the evasion detected by an auditor, then (i) no level of ...