The overlapping generations model presented herein requires incorporation of exactly three periods in which one lives, but makes intertemporal decision-making twice, neither once nor three times. Single decision-making at the outset, none thereafter, ignores the fact that one makes decisions...

A thorough analysis of sustainable development requires a better understanding of how economic and ecological systems interact over the long run. This paper provides an integrated model to analyze interactions between economic and ecological systems. The linkages between these two systems are...

The paper examines the relevance of international scale economies and international market efficiency of trade based on the firm-level data of Taiwanese manufacturing industries. The author first constructs a simple analytical framework to measure the extent of scale economies and total factor...

In this paper, we unify and extend the analytical and empirical application of the ”indirect addilog” expenditure system, introduced by Leser (1941), Somermeyer- Wit (1956) and Houthakker (1960). Using the Box-Cox transform, we present a parametric analysis of the Houthakker specification of...

This paper analyzes and solves miniature Walrasian general equilibrium systems of momentary and moving equilibria. The Walrasian framework encompasses the fundamental neoclassical and classical two--sector growth models; the families of solutions of steady--state and persistent growth per capita...

The paper studies autonomous dynamic systems that allow for the existence of economic growth per capita without dynamically generating explosive solutions. The implications of any degree of homogeneity, including increasing returns to scale in production, must be carefully examined in two and...

This paper analyzes Walrasian general equilibrium systems and calculates the static and dynamic solutions for competitive market equilibria. The Walrasian framework encompasses the basic multi-sector growth (MSG) models with neoclassical production technologies in N sectors (industries). The...