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Over the centuries, Buddhist monks applied economic models in the operations of their monasteries to make them sustainable while also observing Buddhist principles. The large variety of economic practices observed demonstrate the creativity of monastics in acquiring the resources to support their large monasteries in a way that was viewed as compatible with Buddhist ethics embodied in the Noble Eightfold Path. Researchers have analyzed the integration of faith-based and financially related monastic needs for different countries in different eras. The Buddhist economics approach as it has been developed in the last 40-50 years aims to create an alternative worldview that challenges the main underlying assumptions of Western economics. The mainstream Western economics model is originally based on the following assumptions: rational, selfish behavior; profit-maximization; competitive markets; and instrumental use of the environment. Buddhist economics is based on a different set of assumptions: dependent origination (“pratityasamutpada”), where people are interdependent with each other and with Earth; people are aware of enlightened self-interest based on interdependence and thus are altruistic; firms care about the well-being of workers, customers, shareholders, and community; and all activities include caring for the environment. With these assumptions, the Buddhist economic model has shared prosperity in a sustainable world with minimal suffering as its goal.

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Kracun, D. (1991): Inflation model of a semi-command economy. Economic Modelling, 8 (4): 512-527. Inflation model of a semi-command economy Economic Modelling

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Mobility in Hungary is a relatively infrequent phenomenon of which we have mostly aggregate-level information. Here I use settlement- and individual-level data to show a more elaborate picture of the Hungarian population moving across settlements and regions between 1990 and 1999. Using a simple economic model, I estimate the probabilities of moving house both from aggregate and individual data, and look at its response to economic incentives given by geographic differences in wages and unemployment. Three main results emerge. Firstly, the flow of people does follow wage and unemployment differences as expected, although exact parameter estimates vary considerably if different data and a matching model is used. Secondly, it is confirmed that in many regions of the country there are forces at work, especially a strong trend of suburban development, driving movement against the prediction of the simple model. Thirdly temporary movers, especially students seem to be rather influential contributors to flows we observe at the aggregate level. This makes collection of specialised data or the creation of an elaborate model that takes them into account, necessary in the long term, too.

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The study summarises the overall economic model of Hungarian economist Tibor Liska (1925–1994). The economic system of the model would be transcapitalistic inasmuch as being more self-regulating, through a “pure” market and unlimited competition, than capitalism as we know it. In this model, property is fully open to competition as gaining control over property in open competition is regarded as a fundamental human right. The model allows the state to have only regulatory functions, accordingly, a drastic reduction of the role of the public sector is needed. The self-controlled economy would also manage redistribution, education, environmental problems and all other socio-economic subsystems much more efficiently than present-day economies. The theory envisions a society without taxation, where all income is fully personal and all property (that is, means of production) is social but is in personal stewardship. The study outlines two subsystems of the model: those of social inheritance and personal social ownership. Finally it touches upon an attempt of putting the model into practice.

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Are the ecosophy of the Norwegian philosopher Arne Næss and its resulting Deep Ecology relevant today? The central maxims: ‘Live a rich life with simple means’ and ‘Self-realizing for all beings’, are interpreted and corroborated. Næss’s ecosophy builds upon gestalt thinking and spontaneous experiences. In particular, the paper deconstructs point seven in the Deep Ecological Platform, which states that “The ideological change is mainly that of appreciating life quality (dwelling in situations of inherent value) rather than adhering to an increasingly higher standard of living. There will be a profound awareness of the difference between big and great”. The paper draws on Nicholas Georgescu-Roegen as the inspirational source of the degrowth movement, and on the Norwegian philosopher Arne Johan Vetlesen to understand the separation of man and nature that occurred during the Enlightenment, and it presents case studies of alternative economic models from Bhutan and Thailand. The conclusion is that Deep Ecological reasoning is not an ecotopia, but should be seen as an important source of inspiration and challenge to the prevalent consumer culture in affluent countries.

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. Ratto, M. — Roeger, W. — in’ t Veld, J. (2009): QUEST III: An Estimated Open-economy DSGE Model of the Euro Area with Fiscal and Monetary Policy. Economic Modelling 26: 222–233. in’ t Veld J

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. References Andreff , M. – Andreff , W. ( 2010 ): Economic Modeling and Prediction of Summer Olympic Medal Wins and FIFA World Cup Semi-finalists . IASE Working Paper Series No. 10

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.06.2015. Lessig , L. ( 2012 ): Republic, Lost. New York, NY: Hachette Book Group. Mackintosh , J. ( 2011 ): Irrational Regard for Economic Models . Financial Times

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. Bradley, J. — Modesto, L. — Rivero, S. (1995): HERMIN: A macroeconometric modelling framework for the EU periphery. Economic Modelling , 12(3): 221–247. Rivero S. HERMIN: A

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Kasman, A. - Ayhan, D. (2008): Foreign Exchange Reserves and Exchange Rates in Turkey: Structural Breaks, Unit Roots and Cointegration. Economic Modelling , 25: 83–92. Ayhan D Foreign

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