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Finanzanlagen entwickelt und die neue Wachstumstheorie bearbeitet. …
Persistent link: https://www.econbiz.de/10005037085
This important volume brings together 22 major essays written by A.P. Thirlwall over the last 30 years in the field of macroeconomics, and in particular on multiplier analysis, unemployment, inflation, growth and the balance of payments.
Persistent link: https://www.econbiz.de/10011273672
This paper deals with the relationship between post-Keynesian and behavioural economics. I begin by responding critically to Paul Davidson's claim that Keynes was the first behavioural economist. Then I discuss some recent work in behavioural macroeconomics, which reveals some important...
Persistent link: https://www.econbiz.de/10010701904
In a monetary economy capital is a fund. This idea is captured by the circuit of capital. We define a circuit for fixed capital and argue that it is closed when the fund that initiates it is recovered in a present value sense. The circuit of newly invested fixed capital must be equivalent to the...
Persistent link: https://www.econbiz.de/10010735671
Persistent link: https://www.econbiz.de/10005056457
For various reasons ? empirical, technical and casual ? modern (neo-classical) growth theory has centered its attention … percentage to a pre-existing path. The deeper point is that once growth theory is freed of the need to generate exponential paths … and less by artificial convenience. If there is a general lesson for macroeconomic theory in these considerations, it is …
Persistent link: https://www.econbiz.de/10008478622
Persistent link: https://www.econbiz.de/10004998679
Openness appears to have a strong impact on economic growth especially in DCs, which typically exhibit a high share of physical capital in factor income and a low share of labor. In the neoclassical growth model with partial capital mobility, physical capital?s share in factor income determines...
Persistent link: https://www.econbiz.de/10008520100
We suggest a new way to quantify the growth effects of capital mobility. We find that for reasonable parameter values, capital mobility has a large impact on income growth.
Persistent link: https://www.econbiz.de/10008520310
Persistent link: https://www.econbiz.de/10008575588