This paper explores estimation of parameters within large general equilibrium models, given limited data availability and without calibration. This leads directly to consideration of possible measures of the robustness of the model vis-a-vis the historical record (as represented by available...

We provide an overview of recent empirical research on patterns of cross-country growth. The new empirical regularities considered differ from earlier ones, e.g., the well-known Kaldor stylized facts. The new research no longer makes production function accounting a central part of the analysis....

Present study is an attempt to estimate the level of economic efficiency and benchmarking various States of India who are significantly contributing in Indian Industrial Economy by using Input-Oriented CRS Model of DEA by developing an efficiency frontier through optimizing the weighted output...

The Bhaduri-Marglin model is a post-Kaleckian model that allows for studying the impact of functional income distribution on the growth in demand. Over recent years, a number of empirical studies based on this model have aimed at determining whether a redistribution towards profits harms or...

The usage of cloud computing technology in business and daily life has grown rapidly in recent years. However, measurement and research on the impacts of that usage remain relatively scarce and new. The current paper examines the economic contributions of cloud technology by estimating the size...

We develop a new method for estimating industry-level and aggregate total factor productivity (TFP) growth. Our method accounts for profits and adjustment costs, and uses firm surveys to proxy for changes in factor utilization. Using it to compute TFP growth rates in the United States and in...

A new method for constructing R&D capital stocks is proposed. Following Schumpeter, the development of R&D capital stocks is modelled as a process of creative destruction. Newly generated knowledge is assumed not only to add to the existing R&D capital stocks but also, by displacing old...