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The Millennium Survey: Variable/Institutional Framework Subsystems
Author(s) -
Davis John B.
Publication year - 2000
Publication title -
american journal of economics and sociology
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.199
H-Index - 38
eISSN - 1536-7150
pISSN - 0002-9246
DOI - 10.1111/1536-7150.00013
Subject(s) - volatility (finance) , economics , variable (mathematics) , context (archaeology) , globalization , institutional economics , inequality , variables , survey data collection , econometrics , economic system , development economics , macroeconomics , geography , neoclassical economics , market economy , mathematics , statistics , mathematical analysis , archaeology
Pryor’s Millennium Survey results need to be understood in the context of economists’ different economic models appropriate to different institutional frameworks. These variable/institutional framework subsystems in turn may be distinguished according to whether the variables involved exhibit considerable deviation from trend and whether significant institutional change is anticipated. One such subsystem, involving globalization, financial volatility, and income inequality, seems to be relatively independent of a subsystem made up of the domestic economy as a whole.