This paper analyzes productivity growth trends in emerging-market economies vis-à-vis advanced economies, both in the recent global productivity slowdown and from a long-term perspective. While income has converged in most countries in the last three decades, total factor productivity has...

This paper addresses the fifty-year decline in growth for the U.S. and other advanced economies. The paper develops a growth model based upon an economy's capital accounts and illustrates how customary growth factors such as labor and total factor productivity are embedded within investment...

The paper investigates government R&D spending during the business cycle. When analyzing this expenditure, it is important to mention two opposing aspects: on the one hand, government spending on R&D can be seen as a stimulus measure for the government to mitigate the effects of the recession on...

This paper investigates the implication of economic recession on the infrastructural development using Ikare, Akoko, Ondo state as a case study. The study posits that infrastructural facilities are a potent indicator of socio-economic performance of a region and could be understood from the...

Local governments face threats from natural and man-made disasters, but tightening budgets create difficulty in developing the resource and information capacity to meet these challenges. In the aftermath of September 11, 2001, the federal government provided a variety of grants for equipment and...

We study the behavior of output, employment, consumption, and investment in Germany during the Great Depression of 1928-37. In this time period, real wages were countercyclical, and productivity and fiscal policy was procyclical. We use the neoclassical growth model to investigate how much these...

This paper is interested to introduce a new macroeconomic indicator to evaluate the impact of any massive pandemic such as COVID-19 on the world economy performance in the short run (1 year) and long run (10 years). The new macroeconomic indicator is entitled “The Economic Uncontrolled...

The world economy has experienced four global recessions over the past seven decades: in 1975, 1982, 1991, and 2009. During each of these episodes, annual real per capita global GDP contracted, and this contraction was accompanied by weakening of other key indicators of global economic activity....

This paper is interested to introduce a new macroeconomic indicator to evaluate the impact of any massive pandemic such as COVID-19 on the world economic performance in the short-run (1 year) and long-run (10 years). The new macroeconomic indicator is entitled “The Economic Uncontrolled...

This paper provides estimates of labor productivity for one-third of UK manufacturing during the Great Depression. It covers engineering and allied industries, and metal working industries. A unique data set of actual hours of work is combined with comparable real output and employment...