From a labor-managed economy to a market economy: A contribution to economic transformation

Tajnikar, Maks

doi:10.1007/bf02300534

Cited by 3 publications

(5 citation statements)

References 12 publications

(17 reference statements)

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“…But even for the Slovenian labour market in the second half of the 1990s the research shows (Tajnikar, 2000) that the excess supply of labour was not large enough to put a cap on nominal wage growth. This points out the inability of the labour market to function properly and that nominal wages were often defined regardless of labour market circumstances.…”

Section: Labour Market Employment and Money Wagesmentioning

confidence: 99%

“…The post-Keynesian long-run economic model of a market economy with private ownership is applied (Robinson and Eatwell, 1962;Tajnikar, 1996Tajnikar, , 2000. A very important feature of post-Keynesian macrodynamics is its stress on accumulating and utilising productive resources rather than their scarcity and allocation.…”

Section: Modelmentioning

confidence: 99%

“…Hussein, Thirlwall, 2000) that a large proportion of growth is explained by the rate of investing. On the other hand, the profit rate and profit share significantly explain investment spending and growth of the capital stock (Glyn, 1997, Seguino 1999-2000.…”

Section: Investments Savings and Profitsmentioning

confidence: 99%

“…In methodological terms, the paper is based on post-Keynesian economic theory and its long-term economic model of a market economy with private ownership (Robinson and Eatwell, 1973;Robinson, 1962;Tajnikar, 1996Tajnikar, , 2000. In this model's long-term analysis, the key economic aggregates are investment and the investment rate, the growth of labour and production capacities, the technical progress, the nominal and real wages, the price level and the propensity to save.…”

Section: Introductionmentioning

confidence: 99%

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National Accounts Data and Macroeconomic Analysis: A Comparative Study of the Czech Republic, Germany, Greece, Ireland and Slovenia

Tajnikar¹,

Ponikvar²

2006

Prague Economic Papers

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Abstract:In this paper there are analysed the characteristics of various important macroeconomic variables in the Slovenian economy and compared with the macroeconomic development in the Czech Republic, Germany, Greece and Ireland in two periods of 1997-1999 and 2000-2002. The main objectives of the paper are to observe changes in the macroeconomic variables of the analysed countries during the observed periods, to determine the sources of any differences in macroeconomic characteristics between Slovenia and the other analysed countries and, finally, to suggest some steps and measures to improve the macroeconomic situation of these countries. Data from national accounts are used in the analysis. In terms of methodology, the paper is based on post-Keynesian economic theory and its long-term economic model of a market economy with private ownership. Based on the analysis it was concluded that in all analysed countries there should be a greater emphasis on tax policy to create an incentive for investing and saving, on incomes policy to control the dynamics of nominal wages, and on technological policy as a prerequisite for improved economic efficiency.

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Section: Labour Market Employment and Money Wagesmentioning

confidence: 99%

Section: Modelmentioning

confidence: 99%

Section: Investments Savings and Profitsmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

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National Accounts Data and Macroeconomic Analysis: A Comparative Study of the Czech Republic, Germany, Greece, Ireland and Slovenia

Tajnikar¹,

Ponikvar²

2006

Prague Economic Papers

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“…We use the post Keynesian economic model of a market economy with private ownership developed by Tajnikar (2000). The model builds on the post Keynesian tradition and contributions by robinson (1962) and robinson and Eatwell (1973).…”

mentioning

confidence: 99%

A small EU country attempting to exit the economic crisis: rediscovering the post Keynesian perspective on incomes and prices policy

Ponikvar

Tajnikar

Bonča

2013

Journal of Post Keynesian Economics

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The current economic crisis has become a global phenomenon. However, the path to the economic crisis, its materialization and persistence are also country-specific and can only be studied by considering a country's past economic development, existing institutional environment, and the economic policies it has implemented. This paper explores the case of Slovenia as a European Union (EU) and Economic and Monetary Union (EMU) member that has no influence on monetary and exchange rate policies and can therefore only use incomes and prices and partly fiscal policy tools to shape its economic policy. The authors' objective is to demonstrate that for a small economy, which is part of the EU and the EMU, incomes and prices policies are crucial for overcoming its economic crisis. The authors highlight the need to rediscover the role and importance of both incomes and prices policy as advocated by post Keynesian economics. They believe the case of Slovenia can be useful for several other economies with characteristics similar to those of Slovenia.

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Transitional Adjustment of Large Companies in Slovenia and Economic Policy

Tajnikar¹

2001

Post-Communist Economies

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This article analyses transition crisis in large companies using the case of Slovenia. According to the accounting data for 1991 and 1997 a great part of the transition crisis was centred in large companies. In Slovenia, in general crisis conditions in large companies arose because of a very high or very low capital/labour ratio and the inability of management to cope with redundant capital or labour. Only recently have unfavourable market and financial positions become more important, but they are still not the most important factor. Companies which oriented themselves to foreign markets and invested, succeeded in making profits in spite of increased debts and an unfavourable debt/equity ratio. Large companies in state ownership have preserved soft budget constraints. Many companies shrank drastically; they have survived, but their efficiency is low.

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From a labor-managed economy to a market economy: A contribution to economic transformation

Cited by 3 publications

References 12 publications

National Accounts Data and Macroeconomic Analysis: A Comparative Study of the Czech Republic, Germany, Greece, Ireland and Slovenia

National Accounts Data and Macroeconomic Analysis: A Comparative Study of the Czech Republic, Germany, Greece, Ireland and Slovenia

A small EU country attempting to exit the economic crisis: rediscovering the post Keynesian perspective on incomes and prices policy

Transitional Adjustment of Large Companies in Slovenia and Economic Policy

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