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Orthodoxy versus heterodoxy : inflation, unemployment, growth, profit
Manera, Carlos - 2015
Institutions like the IMF, the ECB and many finance ministries and private banks in the world's richest countries are …
Persistent link: https://www.econbiz.de/10010494932
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Accounting for Variability in the Growth Rate of Income
Lambert, Peter J. - 2014
The average of periodic growth rates is a downwardly biased estimator of the rate of growth of a country. The higher the variance of the periodical growth rates, the higher the downward bias. The longer the business cycle, the higher the downward bias. In this short paper, we demonstrate these...
Persistent link: https://www.econbiz.de/10013050121
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Saving and Investment in US Economic Growth
Sy, Wilson N. - 2014
Key economic concepts of saving and investment are defined and discussed in this paper. It is shown that the equation “saving=investment” is a fundamental fallacy of macroeconomics due to a confusion between real and financial variables, and also between stock and flow variables. Economic...
Persistent link: https://www.econbiz.de/10013043655
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Embodied Growth Accounting with Recombinant Innovation : A New Approach
Jefferson, Gary H. - 2021
build a bridge between growth accounting and growth theory by resolving their asymmetric interpretations of technical change …
Persistent link: https://www.econbiz.de/10013249485
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Pre-Reform Conditions, Intermediate Inputs and Distortions : Solving the Indian Growth Puzzle
Gupta, Abhay - 2009
This paper answers the puzzling questions that why under the similar set of economic conditions service sector in India grew while manufacturing could not and how economic reforms in 1990s accelerated the productivity growth. The paper provides a very innovative and convincing explanation. Two...
Persistent link: https://www.econbiz.de/10012718182
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X-Efficiency Evolution : An Old-New Hypothesis about the Sources of Productivity Growth, from an Agent-Based Simulation
Smith, Nathanael - 2009
While mainstream economics assumes that firms are always on the production frontier, there is an evolutionary interpretation of competition according to which firms have different degrees of what Leibenstein (1964) called quot;X-efficiency,quot; and competition selects for higher X-efficiency....
Persistent link: https://www.econbiz.de/10012719598
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Publish and perish : creative destruction and macroeconomic theory
Chatelain, Jean-Bernard; Ralf, Kirsten - 2017
theory appears not to be a cumulative science so far. When attempts are done to settle controversies by "nature" (testing the … or non-identified when testing them. Two examples are provided, one in growth theory and testing convergence, one in … business cycles theory and testing inflation persistence. …
Persistent link: https://www.econbiz.de/10011597938
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How Much Economic Freedom is Necessary for Economic Growth? Theory and Evidence
Altman, Morris - 2008
The hypothesis that economic freedom and related variables are significant determinants of real per capita income and growth is critically evaluated. Economic freedom is found necessary for higher levels of per capita income and growth largely in terms of threshold effects as opposed to...
Persistent link: https://www.econbiz.de/10014218055
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Making Sense of Institutions as a Factor Shaping Economic Performance (Spanish Version)
Nelson, Richard R.; Sampat, Bhaven N. - 2006
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...
Persistent link: https://www.econbiz.de/10014056548
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Unlimited Growth and Innovation : Paradise or Paradox?
Sutter, Andrew J. - 2010
-based policies and academic growth theory (Solow 1956 and 1957; Romer 1990), and some of the rhetoric surrounding them (Part II … course of tracing this historical development, a simple but significant inconsistency between microeconomic theory and …
Persistent link: https://www.econbiz.de/10014189105