This paper provides evidence of a problem with the influential testing and assessment of Solow's (1956) growth model proposed by Mankiw et al. (1992). It is shown that when the assumption of a common rate of technical progress is relaxed in the neoclassical model, the goodness of fit of Mankiw...

This paper addresses the question of whether or not a theory of total factor productivity (TFP) is needed in order to explain the observed large per capita income differences across countries. As the argument that it is needed has been reached by calculating TFP empirically, we show that the way...

<quotation> There is no subject so old that something new cannot be said about it. <source>(Dostoevsky)</source> </quotation> <quotation> Glendower: I can call spirits from the vasty deep Hotspur: Why, so can I, or so can any man; But will they come when you do call for them? <source>(Shakespeare, Henry IV, Part I, Act III, Scene I)</source> </quotation> This paper surveys...