During the last years, Mexico has registered relatively large output falls. The business cycle accounting method of Chari, Kehoe and McGrattan (2007) is applied to the two most recent recessions in Mexico (including the 'Tequila crisis') in order to understand what are the most important wedges...

This study first provides an outline of Kaldor's growth model and then tests its relevance to the economic experience of Turkey during the period 1963-2005 by using cointegration and causality tests. Kaldor's first law states that manufacturing is the engine of economic growth, whereas the...