The book offers a compehensive account of traditional and more recent developments in macroeconomic theory. It is written primarily for students at the intermediate level.

After having pointed out the diverse uses of the term infrastructure in the literature on the market-economy, the different categories of infrastructure will be described. The argument in this context is that the classification of infrastructure suggested by Jochimsen has proved useful:...

This paper extends the history of thought narrative on Allyn Young to recognize the close relationship that the classical growth theory has with the early development theory, as Young’s externalities-fuelled, cumulative growth process influenced the theoretical thought of the early development...

In seiner Dissertation "The Impact of the Socio-Cultural Structures of the Kambata/Ethiopia on their Economic Development. An interdisciplinary and cultures comparing approach to discuss the issue of economic developement" beschäftigte sich Herr Gebrewold mit der Frage nach den sozialen und...

Arthur Lewis' seminal 1954 paper and its emphasis on dualism appeared at a time when neither the work of Keynes or Harrod-Domar nor the later neoclassical production function of Solow seemed relevant for developing countries. As a consequence, his model, rooted in the classical tradition, plus...

This paper makes an effort to trace the course of development thinking and associated development policy over the past six decades. Section I focuses on the early Post-War Consensus, with theory focused on extensions of classical dualism theory and policy concentrating on creating the...

At the beginning of the twenty-first century there is a rare coincidence of profound transformations in a number of areas, in population dynamics, in human settlements, in science and technology, economics, social stratification, in the role and functions of the states and in the global power...

In this paper, we provide evidence on the nature and the relative importance of domestic and foreign shocks in Slovak economy based on block-restriction vector autoregression model in 1999-2007. We document well-functioning monetary transmission mechanism in Slovakia. Subject to various...

This paper develops a flexible price, two-sector nominal growth model, in order to study the role of the exchange rate regime in capital accumulation (convergence). We adopt a standard model of a small open economy with traded and nontraded goods, and enrich its structure with costly investment...

This paper presents and estimates a dynamic stochastic general equilibrium (DSGE) small-open-economy model for the Hungarian economy. The model features different types of frictions, real and nominal rigidities which are necessary to replicate the empirical persistence of Hungarian data....