The theory of economic development was an exception to Paul Samuelson's claim of being a "generalist" in economics. It was a hard subject to tackle analytically because of the intrinsic difficulty of some of the concepts involved, such as increasing returns and long-term economic evolution....

There has recently been a resurgence of interest in how institutions affect economic performance. A review of this literature reveals that the concept of an 'institution' means different things to different scholars, both within economics and across the social sciences. This paper discusses what...

This paper works out some of the basic properties of an economy with energy as a factor of production. The economy now consists of streams of energy conversions that direct energy to the production of goods and services. The focus on energy generates a variety of insights. It yields a new...

We experiment with integrating economics and ethics in a form that could be described as literary-critical economic nonfiction. After offering an interpretation of Percy Shelley's “Prometheus Unbound,” we map the modern world of commerce into our interpretation of the lyrical drama to...

In a recent review article Jonas Agell, Thomas Lindh and Henry Ohlsson (1997) claim that theoretical and empirical evidence does not allow any conclusion on whether there is a relationship between the rate of economic growth and the size of the public sector. They illustrate their conclusion...

A number of cross-country comparisons do not find a robust negative relationship between government size and economic growth. In part this may reflect the prediction in economic theory that a negative relationship should exist primarily for rich countries with large public sectors. In this paper...

This study investigates the effect of fiscal policy shocks on output and unemployment in Nigeria under the Keynesian framework by employing the Structural Vector Autoregression (SVAR) methodology to analyse annual series on the relevant variables for the period 1981-2015. Augmented Dickey Fuller...

The optimal mix of growth policies is derived within a comprehensive endogenous growth model. The analysis captures important elements of the tax-transfer system and takes into account transitional dynamics. Currently, for calculating corporate taxable income US firms are allowed to deduct...

This paper develops a comprehensive endogenous growth framework to determine the optimal mix of growth policies. The analysis is novel in that we capture important elements of the tax-transfer system and fully take into account transitional dynamics in our numerical analysis. Currently, for...

This paper develops a comprehensive endogenous growth framework to derive the optimal growth policy. The analysis is novel in that we capture important elements of the tax-transfer system and fully take into account transitional dynamics in our numerical analysis. US firms can currently about...