Money Income Research Articles

Keynes’s Anti Marshallian, General Theory Analysis Against the Marshallians, Robertson and Pigou, in 1937: Pigou’s 'Money Wages in Relation to Unemployment'

In August 1937, Keynes discovered that Pigou, with the very explicit and rabid support of Dennis Robertson, was planning on publishing a paper in the Economic Journal which deployed the same type of Marshallian, partial equilibrium,ceteris paribus (constant money income) analysis with functions containing only one independent variable that he had used in his 1933 Theory of Unemployment. In 1937, Pigou argued that there were two separate theories of interest rate determination. The first was that M=L(r), so that the demand and supply of money alone determined the rate of interest. The second was that M=L(Y), so that only aggregate income determined the rate of interest. Of course, there are no such functions in Aggregate Income-rate of interest (Y,r) space. Keynes correctly pointed out that the missing equation in Pigou’s paper was Keynes’s Liquidity Preference Function M=L(Y,r). Only this function exists in (Y,r) space. A subsidiary point in Pigou’s 1937 paper was that Pigou also argued that the rate of interest was equal to a constant rate of time preference. This, of course, is consistent with the deployment of a Marshallian ceteris paribus assumption about constant money income. Kaldor apparently believed that this was the central issue involved and the more important. Now Keynes knew better,but he,as the referee, allowed Kaldor to proceed because Kaldor correctly deployed Keynes’s IS-LP(LM), although Kaldor believed that it was Hicks’s model, to prove decisively in a diagram relegated to a footnote near the end of the article, that money wage cuts could only work by shifting the LP(LM) curve, which Hicks had renamed the LL curve ,to the right, so that Mw ,money in terms of wage units, would increase Y and lower as LP (LM) shifted to the right. Pigou’s 1938 comment in a note, that “I have not been able to follow the reasoning of Mr. Keynes’s short note, which preceded Mr. Kaldor’s”, demonstrates that Pigou, and Robertson, were still not able to break away from the Marshallian, partial equilibrium,ceteris paribis type of analysis that was worthless at the macro level. Pigou and Robertson could not deal with a function that had two independent variables. Pigou never mentioned Kaldor’s graphical summary in his 1938 reply because he could not understand what was being done in Keynes’s IS-LP(LM) model. Keynes used the 1937 Kaldor comment on the erroneous assumptions and analysis of Pigou,who was fully supported by D. Robertson (see letter from A. Robinson to Keynes, CWJMK, vol.14,p.239), to set up a test for the Pseudo Keynesians. Keynes offered them publications in the EJ if they would reply to Pigou’s 1938, March article by simply deploying Keynes’s LP function from p.199 of the GT to show that Pigou’s model was completely misspecified. The Pseudo Keynesian response was to reject Keynes’s extraordinarily favorable offer and attempt to sabotage the Keynesian revolution in order to advance their own false, petty, and opportunistic claims.

LIFE AFTER REFORMS: THE SURVIVAL PRACTICES IN THE RUSSIAN FAR EAST AT THE TURN OF XX-XXI CENTURIES IN THE MIRROR OF FICTION

Following the current trends in the development of historical science, the author considers fiction as an important source for the study of the post-Soviet period, allowing recreating the socio- historical types of behavior, way of thinking and public mood, to track the transformation of the structures of everyday life. The article is based on the fiction published from the early 1990s to the present day and reflected the Far Eastern realities of the 1990s-2000s. The main attention is paid to the ways of adaptation to the new socio-economic conditions, such as inflation and the fall in real money incomes, massive cuts and wage delays, privatization, the collapse of industrial enterprises, the destruction of social infrastructure, the income differentiation, and an increasing gap between more and less developed territories. Art works show how in crisis the Far East inhabitants are looking for opportunities for part- time work, change professions, working for hire, opening their own business or falling into the category of self-employed, use deviant and destructive forms of employment. Many people in the conditions of continuous growth of prices, delays in wages or lack of a permanent, well-paid place of work are accustomed to live without money, making purchases rarely, but using subsistence farming in dacha or vegetable garden, the interchange of goods and services, engaged in gathering, hunting, fishing (the aboriginal population returns to traditional marine mammal hunting). In addition, the Far East inhabitants react to the modified conditions by changing their demographic behavior. Horizontal public relations are being strengthened, mutual assistance are widely used in the circle of relatives and friends.

Child age and gender differences in food security in a low-income U.S. inner-city population

A long literature in economics studies differential allocations of resources to children within the family. In a study of approximately 1600 very disadvantaged households with children in three cities in the U.S. from 1999 to 2005, significant differences in levels of food allocation, as measured by an indicator of food “insecurity,” are found across children of different ages and genders. Using answers to unique survey questions for a specific child in the household, food insecurity levels are much higher among older children than among younger ones, and to be sometimes higher among older boys than among older girls. Allocations are strongly correlated with the dietary needs of the child as well as with household structure and the level of family organization. However, the differences appear only in the poorest households with the lowest levels of money income and household resources in general, and most differences disappear in significance or are greatly reduced in magnitude when resources rise to only modest levels.

Essential Factors Determining the Quality of Population Life

Essential Factors Determining the Quality of Population Life

Денежные доходы и расходы одиноко проживавших женщин-служащих промышленных предприятий Свердловской области (по данным бюджетных обследований 1957 года)

The article is devoted to the topic, which is practically not developed in the national historiography, especially with regard to its regional aspect. The purpose of this article was to study the money income and expenses of single women employees of industrial enterprises of Sverdlovsk region in 1957. It is declared that the respondents had different housing conditions, a variety of personal preferences, a different number of relatives, friends and acquaintances. It is noted that the Soviet statistical authorities have always paid the greatest attention to the families of workers and farmers. It is argued that the families of employees in the budget surveys were no more than 20% of the respondents. It is emphasized that the author of this article not for the first time refers to the development of budgets of individuals, including employees. It is stated that there has been a rather serious differentiation between the money income and expenditure of female employees surveyed. It is proved that in process of decrease of the total amount of expenses the specific weight of commodity part tended to increase, and non-commodity on the contrary tended to decline. It is stated that the clearly predominant share of all expenses of the surveyed female employees was food expenses - up to 2/3 of the amount of commodity expenses. It is concluded that the cash income and expenditure of all surveyed female employees were higher than similar average indicators per capita of working families.

Interrelation of Income, Inflation and Aggregate Demand in the Russian Economy

The choice of economic policy instruments to ensure economic growth is one of the important problems of the country. The purpose of the article is to analyze and characterize the interconnection of income, inflation and aggregate demand in the Russian economy and at the regional level in order to increase the effectiveness of the state’s economic policy. We show the contradictory causes of demand-pull inflation and cost-push inflation, as well as anti-inflationary measures aimed at overcoming them. The hypothesis is that the decline in inflation results from tight monetary policy and the use of monetary measures. The decline in inflation have negative effect associated with a reduction in aggregate demand in the economy, a slowdown in economic development or decline in production, a decrease in investment and innovation activity in the country, a decrease in real incomes. Based on the analysis of tabulated models, we have determined functional dependencies between changes in household incomes, inflation and aggregate demand. We have revealed that there was no unambiguous correlation between the money incomes of the population, investments, government spending and changes in the level of inflation in Russia. Moreover, the increase in total spending was more often accompanied by a decrease in inflation than by the development of inflation processes. We have concluded that the transition to the state policy of stimulation of cumulative demand is appropriate. The results of the research can be used when developing the state economic policy and regional programs aimed at ensuring the economic development of territorial subjects of the Russian Federation.

Государственное управление занятостью населения в условиях кризиса экономики

The article considers the current problems of the employment state management. The characteristic of the role of employment management in the system of state economic regulation is given. The dynamics of unemployment, employment, and labor force participation are analyzed. The success of the authorities in achieving the aims of the employment state regulation is demonstrated. A comparison of the current trends in employment and economic development is shown. The consequences for the employment sphere during the economic crisis of the Russian Federation in recent years are considered. The changing characteristic of the population’s standard of living, real disposable money income, poverty level is presented. The established and current trends in the structure of employment changes in the scale of the Russian Federation, federal districts and constituent entities of the Russian Federation are revealed. The socio-economic consequences of the situation around employment are analyzed. The characteristic of the number of employed poor people is given. The expert estimates of the shadow economy increasing are given. The estimations of the informal sector of the economy volumes are presented. The estimation of the achieving the goals degree of the authorized state employment agencies is provided. The causes of a systemic crisis of state employment of the population are identified. The necessity of more complete participation of the state government employment in the development and implementation of the socio-economic development policy of the Russian Federation has been substantiated. The proposals for the strategies establishment for the future development of employment services in the regions of the Russian Federation and their inclusion in the system of strategic planning documents are presented.

Prediction of annual energy production from PV string under mismatch condition due to long-term degradation

Reduction of long-term degradation effects represents a long-time challenge in photovoltaic (PV) manufacturing industry. Modelling of long-term degradation types and their impact on maximum power of PV systems have been analysed in this article. Brief guidelines for PV cell-based modelling of PV systems have been illustrated. Special study case, PV string consisting of 12 PV modules, has been modelled in order to determine degradation and mismatch power losses. Modified methodology for prediction of annual energy production from PV string, based on horizontal irradiation and ambient temperature experimental measurements at the location of Belgrade, has been developed. Coefficient named ?degradation factor? has been introduced to include and validate degradation power losses. Economic considerations have indicated evident money income reduction, as a consequence of lower annual energy production related to long-term degradation.

SAVING THE POPULATION OF THE KRASNODAR TERRITORY AS A SOURCE OF ITS INVESTMENT DEVELOPMENT

The article outlines conceptual approaches to diagnosing the investment and financial potential of population savings as a key component of the region’s investment and financial potential. The structure of money incomes of the population and investment characteristics of savings of the population of the Krasnodar Territory in the context of the formation of strategic competitive priorities in the system of social and economic development of the territory are disclosed.

Money supply. Endogenous or exogenous variable? With reference to Iraq

The issue of whether money supply is a dependent or an independent variable remains a debating one, especially with the ongoing development and innovation of institutions, tools, and financial, monetary, and banking derivatives. In general, we can say that there are two trends of thought about the issue under consideration. The first trend views money supply as an exogenous variable because the monetary authority can control and monitor it. The second one views money supply as an endogenous variable because Federal Bank has no ability to affect it, especially when nominal or money income is changed and reflected on money multiplier and money supply, and also when the monetary authority cannot restrict the monetary expansion as a result of different factors related to the economy structure or related to other non-economic factors.

A Consistent Data Series to Evaluate Growth and Inequality in the National Accounts

Recent headlines frequently refer to rising inequality and its implication on economic growth and social welfare. Addressing the latter is difficult and requires more than simply looking at GDP, as Kuznets long ago pointed out. In this paper we focus on the importance of the income measure underlying the inequality measure when examining the relationship between GDP growth and inequality. We create a mapping using Census Bureau household survey data and Bureau of Labor Statistics (BLS) consumer expenditure data to create distributional measures of the Bureau of Economic Analysis (BEA) personal income. We show that for the period 2000‐2012, inequality using personal income is substantively lower than inequality measured using Census Bureau money income, and the trends in both inequality and median income are different. This demonstrates the importance of using a measure a national accounts based measure of income when examining the relationships between inequality and growth.

Imputation and money income distribution measures

Imputation and money income distribution measures

(A Study on the Financial Status and Life Satisfaction of Retired Households)

Korean Abstract: 본 연구는 은퇴가구의 경제상태 만족도와 은퇴생활 만족도에 대해 재무적, 비재무적 요인에 따른 차이와 영향요인을 분석하였다. 이를 위하여 국민연금연구원의 국민노후보장패널조사 5차년도(2013년) 자료를 활용하였으며, 동거하는 여타가구원이 없는 1인 또는 2인 은퇴가구만을 연구대상으로 하였다. 주요 연구 결과는 다음과 같다. 첫째, 은퇴가구는 자산 중 부동산의 비율이 87.0%에 이르는 부동산 집중형 자산구조를 가지고 있었고, 소득의 경우 이전소득의 비중이 66.1% (공적이전소득 42.3%, 사적이전소득 23.8%)를 보였다. 둘째, 가구주가 여자인 경우보다 남자인 경우가, 배우자가 있는 경우가, 교육수준이 높을수록, 자가거주인 경우가 경제상태와 은퇴생활 만족도가 높았다. 셋째, 자산의 종류와 상관없이 자산을 보유한 가구가, 자산규모가 클수록 경제상태 만족도와 은퇴생활 만족도가 높았고, 소득의 경우에는 자산소득 보유가구가 미보유가구보다 경제상태 만족도와 은퇴생활 만족도가 높았으나, 공적이전 소득의 경우에는 미보유가구의 만족도가 높았다. 다만 소득규모를 상중하로 나누어 분석하였을 때 대부분 소득상위 집단의 만족도가 높게 나타났다. 다른 요인의 영향력을 통제한 상태에서의 각 변수들의 영향력을 살펴보면, 공적이전소득(β=.206)이 경제상태 만족도에 가장 큰 영향을 미치는 것으로 나타났으며, 자산소득 보유여부, 금융자산, 부동산자산의 순이었다. 은퇴생활 만족도에 미치는 영향요인으로는 공적이전소득(β=.073)이 가장 큰 영향을 미치는 것으로 나타났으며, 자산소득, 부동산자산 순으로 나타났다. 분석에 포함한 비재무적 요인 변수 모두가 은퇴생활 만족도에 유의한 영향을 미쳤는데, 여가활동 만족도(β=.401)가 은퇴생활 만족도에 월등히 높은 영향력을 보였고, 다음으로 경제상태 만족도(β=.220), 건강상태 만족도(β=.155), 친구관계 만족도(β=.093), 가족관계 만족도(β=.079)의 순이었다. Korean Abstract: This study investigated financial status and life satisfaction of retired households and the factors on those. The sample included single retired and coupled retired households with no family member living with. For this, 2013 Survey of Korean Retirement and Income Study (KReIS) conducted by National Pension Research Institute was used. Various types of assets, income, expenditures were considered as financial status variables. Also some satisfaction variables were used as possible factors on life satisfaction of retired households. The main results were summarized as follows: 1) In retired-households, real estate property was a major part of total household assets(87.0%). Transfer income was almost 2/3 of total income. 42.4% of transfer income was from public side and 23.8% from private side. 2) Male-headed households had higher life satisfaction than female-headed households. Coupled households had higher than single households. Households with higher educated households were more satisfied with their life than others. Retirees living in their own home were also more likely to have higher life satisfaction than others. (3) The households with more assets on various types of assets tended to have more satisfaction on both economic status and life, and the households having real asset income and money income did to have more on both. On the other hand, the households with less transfer income appeared to have higher life satisfaction than others, which might be interpreted as poor households tended to be more dependent on transfer income. The life satisfaction of upper income group was generally higher than that of lower income groups. (4) With other factors to be constant, public transfer income had the biggest influence on economic satisfaction followed by income from property, real estate/total asset, real estate. Life satisfaction of retired households was associated with public transfer income, income from property, and real estate. Also Satisfactions with family relationship, friendship, leisure activities, and health were found to be crucial factors on life satisfaction.

IBKIK JASA KONSULTANSI TALENT MANAGEMENT

Abstract The business unit developed called IbKIK Talent Management Consultancy Services (IbKIK JKTM) with main activities as a provider of research and development services in business and economics. Short-term goal is to meet and support the needs of the community, partners and businesses of of consultancy and training services in business and economics field. While the long-term goal IbKIK JKTM is the creation of a system of good governance, among others: a data base of research results and superior technology, a data base of client needs, index of client satisfaction, guidelines for unit activities of IbKIK, the working mechanism of IbKIK, creation of favorable cooperation between the UWP Surabaya with industry, local government and the community, an increasing number of new entrepreneurs of lecturers and students. The method applied is to maintain the existing condition of raw materials or clients and maintaining good relationships with customers or clients, especially clients remain. The production had a very adequate instrument assets, production process starting from understanding the client's needs until the implementation of the consultation as well as feedback and supervision to maintain good relationships with clients. The management is still not good so it need improvement, the marketing is done by segmenting and targeting strategy, pricing, promotion and maintaining good relationships with clients (developing relationship). While human resources are adequate to the needs of training and development, the existing facilities dedicated space business unit, but the ingredients are still to be developed. From the financial side, the financial return in 2016 are projected to reach Rp. 500.000.000, -. Accountability income and expenditure of money is managed independently by the management. The next steps to operate the business are improving organizational management especially in financial management, improving marketing strategy, developing products, increasing human resource competencies, maintaining existing clients and increasing public training.

The Role of Web Based Accounting Online System 2.0 as the Company's Income and Expense Management

In a company, the process of income and expense of money must have a profit-generating goal base. The success of financial management within the company, can be monitored from the ability of the financial management in managing the finances and utilize all the opportunities that exist with as much as possible with the aim to control the company's cash (cash flow) and the impact of generating profits in accordance with expectations. With a web-based online accounting system version 2.0, companies can be given the ease to manage money in and out of the company's cash. It has a user friendly system with navigation that makes it easy for the financial management to use it. Starting from the creation of a company's cash account used as a cash account and corporate bank account on the system, deletion or filing of cash accounts, up to the transfer invoice creation feature, receive and send money. Thus, this system is very effective and efficient in the management of income and corporate cash disbursements.
 
 Keywords:​Accounting Online System, Financial Management, Cash and Bank

Climate change and short-run discount rates

Climate-conscious action initiated at the present has the potential to impact welfare consequences into the distant future. Market discount/interest rates help determine time-preference patterns for individuals; yet, such rates do not help compare the dis/utility derived by different contemporaneous individuals, or of economic agents living generations apart. Researchers and activists have advocated low to zero discounting of future environmental benefits from present-day investments. Contrary to most implicit assumptions, and despite projected technological advances and higher money incomes, once depleted, natural capital is not substitutable. Subsidising relatively 'sustainable' production often generates perverse incentives and sets arbitrage opportunities up. This paper argues that unsustainable production should be discounted at higher rates to internalise the externality, to eliminate the present-bias, and to achieve the desired indifference between short-run and medium-term returns. The model parameter verdurous β so developed is applied to demonstrate the incentive structures that might promote the switch to 100% organic coffee production in Rwanda.

Денежные доходы и расходы крупной региональной организации КПСС в 1955—1985 годах (на материалах Свердловского обкома партии)

The article is devoted to the subject insufficiently developed in the national historiography. The study was conducted on materials of the State archive of the Sverdlovsk region and the Center of documentation of public organizations of Sverdlovsk region. The topic urgency is determined by its high relevance for the social sciences, especially history, sociology and political science. Scientific novelty of the work is seen in the fact that the new material discovered by the author in these archives is introduced into usage. It is stated that the analysis of money income and expenditure of the ruling party of the former USSR is an important area of research in the field of national history, and the annual financial reports of the regional party structures represent a unique source of information. It is argued that in the USSR at the level of state secrets any information about the income of the party functionaries and their privileges intentionally suppressed, as well as the information on the financial activities of the Communist party in general. It is proved that the Communist party completely disposed the finances not only belonged to it, but also the resources of the whole country using them in its own purposes, for example, to finance the deficit of budget of the party. It is declared that the revenue and expenditure budgetary activities of regional party organizations had their own interesting characteristics, studying of which allows to expand the framework of our understanding of their functioning. It is emphasized that the party budget of regional committee of the party was rather arbitrary category and had primarily control and audit function.

Child Age and Gender Differences in Food Security in a Low-Income Inner-City Population

A long literature in economics concerns itself with differential allocations of resources to different children within the family unit. In a study of approximately 1,500 very disadvantaged families with children in Boston, Chicago, and San Antonio from 1999 to 2005, significant differences in levels of food allocation, as measured by an indicator of food “insecurity,” are found across children of different ages and genders. Using answers to unique survey questions for a specific child in the family, food insecurity levels are found to be much higher among older boys and girls than among younger ones, and to be sometimes higher among older boys than among older girls. Differential allocations are strongly correlated with the dietary and nutritional needs of the child. However, the differences in allocation appear only in the poorest families with the lowest levels of money income and family resources in general, and most differences disappear in significance or are greatly reduced in magnitude when resources rise to only modest levels. Differences in food insecurity across different types of children therefore appear to be a problem primarily only among the worst-off families.

Unequal Thailand: Aspects of Income, Wealth and Power ed. by Pasuk Phongpaichit and Chris Baker

Reviewed by: Unequal Thailand: Aspects of Income, Wealth and Power ed. by Pasuk Phongpaichit and Chris Baker Thanet Aphornsuvan1 Unequal Thailand: Aspects of Income, Wealth and Power Pasuk Phongpaichit and Chris Baker (eds) Singapore: NUS Press, 2016. 208pp. ISBN: 978-981-4722-00-1 This is a book about the political economy of Thailand in the globalized era, focusing especially on the sensitive and much concerned issue plaguing the nation for a long time: inequality. What makes Thailand so conspicuous on this issue is the central theme of the book. The authors studied sources of money income and the social structure, which generate a kind of power that enables the privileged to be richer and more powerful while spelling an unfortunate future [End Page 161] for the working population. The book chapters are the fruits of a research project on ‘Towards a More Equitable Thailand: A study of Wealth, Power, and Reform’. In the tumultuous years during which the nation was divided into two colours of yellow and red with sharp differences in political ideologies, the authors of these chapters were moved to take a more serious look at the phenomenon of inequality in Thai society. Unequal Thailand persuasively argues that the increase in inequality is a product of oligarchy, the rule of the few, one that involves the political system as well as the driving of economic forces creating a new and modern society in which people’s lives have improved in many ways. Yet the small elite were, and are, in control of the vision and reality of the future of the country. In this timely and much-needed book on the sensitive issue of inequality in Thailand, the authors analyse unequal practices and the policies and politics that reproduce the Thai oligarchy. The editors of Unequal Thailand, Chris Baker and Pasuk Phongpaichit are well-known scholars of Thai political economy and political history. Their meticulous approach to the study of political economy and careful analyses of the connections between economy and politics in Thailand are evident here in the first chapter. The introductory chapter gives the volume cohesion and persuasively argues that the increase in inequality has been a product of oligarchy, the rule of the few. Based upon the Gini index (a measure of income distribution in which a higher figure means greater inequality), Thailand became one of the most unequal countries in thirty years of economic development from the 1969s to 1990s with the index rising from 0.413 to 0.536. The prominent factors which contributed to this trend included government policies that favoured capital while repressing working people, the concentration of growth mainly in and around Bangkok, the prices, profits, and salaries for some adjusted towards international levels as well as the increase in value of property as globalization enveloped Thailand. From the mid-1970s onwards, world agricultural prices fell relentlessly, bringing down farmers’ income. On top of these factors Thailand lacked strong political will to resolve this growing problem of inequality among the country’s political and bureaucratic leaders. The rest of the book has eight chapters, which make use of government data to show how inequality in economics, politics, and education is sustained in Thailand. The second chapter by Duangmanee Laovakul on ‘Concentration of Land and Other Wealth in Thailand’ is a revelation about the main problem of equity and social justice in a country where agriculture has dominated the economy for so long. Land has been the most fundamental means of production in Thai society since at least the beginning of the formation of the Bangkok Empire under the Chakri dynasty in the late eighteenth and early nineteenth centuries. Historically, the Ayutthaya king was the ‘lord of the land’ and ‘lord of people’s lives’ to whom all land in the kingdom belonged; no individual ownerships were ever granted to the nobility and phrai (commoners) of the kingdom except usufruct rights or use rights over designated land. The fact that the researcher of the chapter accessed data from the Land Department, a first in the study of land ownership, also tells us about the nature of politics and power involving the management of land in Thailand. The study clearly...

Regulating of the payment for labor of the foreign countries and in Ukraine is according to the international standards

It is given special attention to the effective state policy conducting in the sphere of the payment for labor. Generalized experience of the payment for labor of foreign countries according to international standards has been considered and the modern current state of regulatory and normative and legal provision have been outlined. It is recommended presentation of the supervision process over compliance with the requirements of international act of the priority function character in the activity of the state supervision bodies and control in compliance with labor legislation in general. The history of implementation in Ukraine of the indexation mechanism practice, started still in 1991with the adoption of the Law of Ukraine «On indexation of money incomes of the population». However, its embodiment in life only provoked further rise in prices, which inevitably led to the increasing of the State budget deficit, that is why, in the end of 1992 action of this mechanism has been suspended. In 2003 it was introduced a new mechanism of indexation of money incomes of the population in Ukraine. Today this mechanism is observed in the framework of the living wage established for the relevant social and demographic groups of population.