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Autor
Estrada Mario Arturo Ruiz (University of Malaya, Malaysia), Tahir Muhammad (Comsats Institute of Information Technology, Abbottabad, Pakistan)
Tytuł
An Introduction to Alternative Experimental Models in Monitoring Economic Failures
Źródło
Contemporary Economics, 2015, vol. 9, nr 1, s. 5-16, rys., bibliogr. 22 poz.
Słowa kluczowe
Monitoring gospodarczy, Kondycja gospodarki
Economic monitoring, Condition of the economy
Uwagi
summ.
Abstrakt
This research paper presents four alternative experimental models for monitoring economic failures. These models include the national production function (NP-Function), the multi-level trade creation and trade diversion analytical framework, the mega-economic structures vulnerability analysis (MSV-Analysis), and the mega-economic surface interactive system. The main objective behind the proposed experimental models in economics is to analyze different macroeconomic scenarios in monitoring and warning of possible unexpected economic failure(s) under the use of a new mathematical framework and the application of multidimensional graphs. The proposed alternative experimental models are based on the application of Econographicology. Hence, our models are expected to offer policy-makers and researchers new analytical tools to study the impact and trend of economic failures in the economy of any country from a new perspective. Finally, we suggest the application of three new concepts in the study of economic failures such as Omnia Mobilis (everything is moving), the global structural imbalance principle, and the dynamic imbalance state. Therefore, our findings would certainly help both policy makers and researchers to implement and execute appropriate policies to develop their economies and to protect them from unwanted situations. (original abstract)
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Bibliografia
Pokaż
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  7. Fedorchuk, V. V., Levin, M., Shchepin E. V. (1999). On Brouwer's Definition of Dimension. Russian Mathematical Surveys, 54 (2), 432-433.
  8. Hansen, A. (1938). Full Recovery or Stagnation? New York: W.W. Norton & Co. Inc.
  9. Hicks, J. (1939). The Foundations of Welfare Economics. Economic Journal, 49 (196), 696-712.
  10. Issing, O. (2011). The Crisis of European Monetary Union - Lessons to be Drawn. Journal of Policy Modeling, 33 (5), 737-749.
  11. Inselberg, A., Dimsdale, B. (1994). Multidimensional Lines II: Proximity and Applications. SIAM Journal on Applied Mathematics, 54 (2), 578-596.
  12. Keynes, J. M. (1936). The General Theory of Employment, Interest and Money. London, UK: Macmillan.
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  15. Ricardo, D. (1819). On the Principles of Political Economy and Taxation (2nd ed.). London, UK: John Murray.
  16. Ruiz Estrada, M. A. (2007). Econographicology. International Journal of Economics Research, 4 (1), 75-86.
  17. Ruiz Estrada, M. A. (2008). Is the Market in Dynamic Imbalance State? International Journal of Economic Research, 5 (2), 35-46.
  18. Ruiz Estrada, M. A. (2011). Policy Modeling: Definition, Classification, and Evaluation. Journal of Policy Modeling, 33 (4), 523-678.
  19. Ruiz Estrada, M. A. (2013). Is It Possible to Apply Multidimensional Graphical Methods in the Teaching and Learning of Economics. Contemporary Journal, 7 (4), 123-138.
  20. Russell, B. A. W. (1897). An Essay of the Foundations of Geometry. Cambridge, UK: Cambridge University Press.
  21. Schlicht, E. (1985). Isolation and Aggregation in Economics. Berlin: Springer-Verlag.
  22. Smith, A. (1904). An Inquiry into the Nature and Causes of the Wealth of the Nations (5th ed.). London, UK: Methuen & Co., Ltd.
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ISSN
2084-0845
Język
eng
URI / DOI
http://dx.doi.org/10.5709/ce.1897-9254.156
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