Beginning in the late 1970s, China's economy delivered the largest growth spurt in recorded history. Striking …

make the economy less stable at the aggregate level. As in Nelson and Winter (1982), firms differ in their labor … explain the key results. Optimal selectivity is larger, the less "cobweb unstable" the economy, i.e. the more elastic the …

's low levels of financial and institutional development, state-dominated economy, and nondemocratic government …. Notwithstanding the inefficient and risky growth model, the government has maneuvered the economy around various stresses without any …

distortions of the accumulation of human and physical capital. Relative to an economy with an all-volunteer force, output levels …

This paper examines an economy with a large number of industries, each producing a different good. Technological change … economy or the more they can coordinate their actions, the higher their profits. Labor is used in production or Ramp;D. All … involuntary unemployment. Both workers and firms lobbythe central planner of the economy which affects firms' and unions' market …