This paper shows, from the consumer’s budget constraint, that expected future labor income growth rates and the residuals of the cointegration relation among log consumption, log asset wealth and log current labor income (summarized by the variable cay of Lettau and Ludvigson (2001a)), should...

National accountants treat as consumption all expenditure incurred in purchasing consumer durables and in forming intangible assets such as knowledge, education and good health. The case is made in this paper that the national accounts measures of saving and investment understate both the extent...

This article highlights intangible capital, management practices, and human capital as areas for future productivity research. It also stresses the importance of developing reliable productivity estimates for emerging and developing countries, and of enhancing collaboration between national...

Modern macroeconomic theory utilises optimal control techniques to model the maximisation of individual well-being using a lifetime utility function. Agents face choices over current and future consumption (with resultant implied savings decisions) seeking to maximise the present value of...

This paper shows a significant and causal positive relationship between good institutions and sustainability. While sustainability is measured with the adjusted net saving (ANS) indicator, institutional quality is measured using an average of six dimensions of governance. An instrumental...

Modern macroeconomic theory utilises optimal control techniques to model the maximisation of individual well-being using a lifetime utility function. Agents face choices over current and future consumption (with resultant implied savings decisions) seeking to maximise the present value of...

Sustainable development requires that the per capita productive base or comprehensive wealth of an economy should, at least, not decline over the period of time. This study provides estimates of the growth rate of per capita comprehensive wealth for the Indian economy for the period 1991-2006....

Rezumat în limba română: Conform analizei cuprinse în Raportul OCDE – “Economic Outlook”, dat publicităţii pe data de 1 iunie a.c., este prognozată o nouă incetinire, mai pronunțată, a ritmului de creștere economică a Norvegiei în acest an față de 2015, în urma scăderii...

Rezumat în limba română: După ce în ultimii ani a traversat o perioadă de recesiune prelungită, potrivit Raportului de „Primăvară” al Comisiei Europene, perspectivele evoluţiei economiei Greciei sunt încă pesimiste şi pentru 2016, în condiţiile în care acest stat membru se va...

Rezumat în limba română :Articolul prezintă evoluţia conjuncturii economice în anul 2015 şi perspectivele pentru 2016-2017.Potrivit Raportului OCDE, publicat în luna iunie 2016 şi al Băncii Asiatice de Dezvoltare ( ADB ) publicat în luna martie 2016, Indonezia- cea mai mare putere...