ECONOMIC ANNALS, No.172

Contents 

SCIENTIFIC PAPERS 

1. Author: Branislav Boričić
Pages: 7-20
Logical And Historical Determination Of The Arrow And Sen Impossibility Theorems
DOI: 10.2298/EKA0772007B

2. Author: Kosovka Ognjenović
Pages: 21-54
The Use Of Propensity Score-Matching Methods In Evaluation Of Active Labour Market Programs in Serbia
DOI: 10.2298/EKA0772021O

COMMUNICATIONS

3. Author: Aleksandra Nojković
Pages: 55-92
Qualitative Response Models: A Survey of Methodology and Illustrative Applications
DOI: 10.2298/EKA0772055N

4. Author: Vesna Popović, Branko Katić
Pages: 93-114
Doha Round Of WTO Negotiations And The Domestic Support For Agriculture In Serbia
DOI: 10.2298/EKA0772093P

NOBEL PRIZE WINNERS IN ECONOMICS 

5. Author: Dragan Azdejković
Pages: 115-127
Vasilij Leontijev, tvorac input-autput analize

6. Author: Ana M. Aleksić
Pages: 128-138
Herbert Sajmon – inovator u oblasti poslovnog upravljanja i organizacije
BOOK REVIEWS 

7. Author: Božidar Cerović, Miomir Jakšić, Aleksandra Praščević
Pages: 139-163
Ekonomija i jezik Lepota apstrakcije ili apstrahovanje smisla: Odgovor na osvrt Ljubomira Madžara

8. Author: Nadežda Silaški
Pages: 164-170
Odgovor na osvrt Ljubomira Mažara na prevod Mankjuovog udžbenika Principi ekonomije, Ekonomski anali br. 171, str. 115-141.

9. Author: Milena Jovičić
Pages: 171-184
Kompozitni indeks – magistrala multikriterijumske analize Odgovor na osvrt „Kartografija stranputica na tržištu rada“ – Ekonomski anali br. 171 / 2006

FACULTY OF ECONOMICS: CURRENT ACTIVITIES 

10. Author:
Pages: 185-188
Defended Ph.D. Dissertations in the Faculty of Economics

11. Author:
Pages: 189-192
Defended M.A. theses in the Faculty of Economics

12. Author: Pavle Petrović
Pages: 193-200
In Memoriam: Prof. dr Đorđe Šuvaković

ABSTRACTS 

SCIENTIFIC PAPERS 

1. Branislav Boričić

Logical And Historical Determination Of The Arrow And Sen Impossibility Theorems
DOI: 10.2298/EKA0772007B

ABSTRACT: General classification of mathematical statements divides them into universal, those of the form formula, and existential formula ones. Common formulations of impossibility theorems of K. J. Arrow and A. K. Sen are represented by the statements of the form ‘there is no x such that A’. Bearing in mind logical equivalence of formulae formula and formula, we come to the conclusion that the corpus of impossibility theorems, which appears in the theory of social choice, could make a specific and recognizable subclass of universal statements. In this paper, on the basis of the established logical and methodological criteria, we point to a sequence of extremely significant ‘impossibility theorems’, reaching throughout the history of mathematics to the present days and the famous results of Arrow and Sen in field of mathematical economics. We close with specifying the context which makes it possible to formulate the results of Arrow and Sen accurately, presenting a new direct proof of Sen’s result, with no reliance on the notion of minimal liberalism.

KEY WORDS: impossibility theorem, (in)consistency

2. Kosovka Ognjenović

The Use Of Propensity Score-Matching Methods In Evaluation Of Active Labour Market Programs in Serbia
DOI: 10.2298/EKA0772021O

ABSTRACT: The aim of the paper is to evaluate impacts of active labour market measures in Serbia on the probability of the participants’ employment. In the estimation process of average treatment effects, propensity score-matching method was applied. Its use has considerably reduced the bias in evaluation of the average treatment effects, induced by systematic differences between samples of those who participated in the active labour market programmes and those who did not. The estimated impacts of active labour market programmes on the probability of employment were found to be both positive and statistically significant.

KEY WORDS: Active Policy Effects; Propensity Score; Matching Estimators; Nonexperimental Evaluation; Labour Market in Serbia

COMMUNICATIONS

3. Aleksandra Nojković 

Qualitative Response Models: A Survey of Methodology and Illustrative Applications
DOI: 10.2298/EKA0772055N

ABSTRACT: This paper introduces econometric modelling with discrete (categorical) dependent variables. Such models, commonly referred to as qualitative response (QR) models, have become a standard tool of microeconometric analysis. Microeconometric research represents empirical analysis of microdata, i.e. economic information about individuals, households and firms. Microeconometrics has been most widely adopted in various fields, such as labour economics, consumer behaviour, or economy of transport. The latest research shows that this methodology can also be successfully transferred to macroeconomic context and applied to time series and panel data analysis in a wider scope.

KEY WORDS: microdata, binary and multinomial response, nonlinear models, maximum likelihood estimation, models for count data

4.  Vesna Popović, Branko Katić 

Doha Round Of WTO Negotiations And The Domestic Support For Agriculture In Serbia
DOI: 10.2298/EKA0772093P