In this paper a process analysis model of production in the U.S. Steel Industry is developed and tested. A technology matrix, which represents recent industry input-output structure, is estimated using engineering and metallurgical information. This matrix together with detailed cost, sales and...

The models used in economic theory, though necessarily abstract, should be consistent with the nature of decision making behavior. A formal metaphor of individual behavior as a continuous flow indicates certain requirements that theories of consumer, producer, and economywide behavior should...

The Representative Agent Growth Model is estimated econometrically using the Generalized Method of Moments for the U.S. economy for three separate Growth Eras and the results compared to those obtained using the Kydland--Prescott calibration approach. The estimated parameters differ...

That trajectories of variables in economic models can become chaotic when natural non-linearities are incorporated, and do so generically, is a fact well established in a great variety of contexts and, presumably, one that is well known. Its implications, however, for empirical modelling and...

The Representative Agent Growth Model is estimated econometrically using the Generalized Method of Moments for the U.S. economy for three separate Growth Eras and the results compared to those obtained using the Kydland--Prescott calibration approach. The estimated parameters differ...

During a distinguished career, Basil Moore has made numerous important contributions to macroeconomics and monetary economics, and is renowned as the progenitor of the ‘horizontalist’ analysis of endogenous money. More recently, he has embraced complexity theory as part of an...