In Part One of this paper we use the harmonic analogy of a musical octave to analyze mathematic ratios of U.S. real GNP. These ratios are generated by bringing together figures for U.S. real GNP over intervals of time – “spreads of years” – as numerator and denominator in a single...

We study the association between resource rents and political stability, highlighting the importance of the distribution of political power as a mediating factor. We present a simple theoretical model showing that increased rents are likely to be positively associated with the stability of a...

The hypothesis is that Pareto and Kaldor-Hicks Efficiency have an aspect of sustainability in relation to inequality. The analysis finds efficient situations reached increasing inequality as diminishing in the long term effective demand in a larger measure than counterbalancing increases thanks...

In a classical article, Granger (1966) argued that the levels of most economic time series have spectra that exhibit a smooth declining shape with considerable power at very low frequencies. He termed it "the typical spectral shape of an economic variable." Granger's assertion has not been...

This dissertation contributes to an increasing literature on macroeconomic instability in developing countries. It makes a critical review of the literature and classifies the sources of instability under exogenous and endogenous factors. It then argues that the impact of exogenous shocks is...

In this paper it is argued that the domestic division of labor and trade is organized according to the same principle as the international division of labor and trade – the Ricardian comparative advantages. After all, the ultimate source of these comparative advantages is the individual. The...

The objective of this article is to describe and analyse the economic development and to summarize and explain the most important factors that have caused the long-term stagnation and instability of the Japanese economy in the 1990s (so called „lost decade“). The asset price bubble collapse...

The paper analyses inflationary real effects in situation where there are frequent episodes of high inflation. It is conjectured with the increase in high inflation, and when differences between the expected and output-neutral inflation become large, output stimulation through inflationary...

The model of the macroeconomic stabilisation pentagon allows for a quick insight into the most important macroeconomic indicators of an economy in question. On the basis of this concept -?comparing pentagrams for particular years - changes of the economic condition of countries can be examined....