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The Economic Metronome

Author

Listed:
  • Iliya Balabanov
  • Nikolay Ê. Vitanov

Abstract

The economic metronome (IM) is a term for a mathematical formula of a set of fundamental interrelations of a key importance for the value-monetary expression among: the main factors of business activity of any kind; their productivity; the primary proportions in production, distribution, exchange and consumption of the commodities; the development rates of any activity. The formula is an attempt to create an instrument to measure more precisely the potential opportunity and the actually achieved efficiency of the business activity, for more-reliable forecast and projection of its development in the future at the stage of investments and innovations.

Suggested Citation

  • Iliya Balabanov & Nikolay Ê. Vitanov, 2010. "The Economic Metronome," Economic Thought journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 6, pages 3-33.
    • Handle: RePEc:bas:econth:y:2010:i:6:p:3-33
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    More about this item

    JEL classification:

    • B41 - Schools of Economic Thought and Methodology - - Economic Methodology - - - Economic Methodology
    • B59 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Other
    • C02 - Mathematical and Quantitative Methods - - General - - - Mathematical Economics
    • C62 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Existence and Stability Conditions of Equilibrium
    • D21 - Microeconomics - - Production and Organizations - - - Firm Behavior: Theory
    • E6 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook

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