It is generally acknowledged that a government’s output is difficult to define and its value is hard to measure. The practical solution adopted by national accounts systems is to equate output value to input costs, but well-documented inefficiencies in government activities make this...

The logistic growth model to explain changes in population growth rates are not. In this paper a new analysis of the population growth rate in the frequency space is described with mathematical logic and economic reasoning, so that, firstly, to a higher level of capital per capita, or at least...

One important aspect of the resulting indebtedness in full-fledged market economies is the mutual influence between different economic sectors. Therefore, alongside the government indebtedness, one must take into account also the debts of private agents, especially of households and...

Is capital more complementary to one of the genders? More specifically, which types of capital are complementary to which gender? This paper presents a first attempt at estimating capital-gender complementarities, at both aggregated and disaggregated levels. By employing a panel of 12 OECD...

This study examined the impact of financial reforms on banks’ organizational performance in Nigeria between 1995 and 2004. It specifically determined the effects of policies of interest rates deregulation, exchange rate reforms and bank recapitalization on banks performance, and analyzed...

This article analyses the business cycles observed in the euro area and in the United States on the basis of the estimated results of a general equilibrium model. In the first place it is shown that the cyclical movements in both economies show strong similarities : there are no significant...

The growth rate of real GDP per capita is modeled and predicted at various time horizons for France, Germany, New Zealand, and the United Kingdom. The rate of growth is represented by a sum of two components – a gradually decreasing trend and fluctuations related to the change in...

A widely cited failing of real business cycle models is their inability to account for the cyclical patterns of ?nancial variables. Perhaps less well known is the fact that the return to capital and equity are identical in the neoclassical growth model. This paper constructs a measure of the...

Based on the structural VAR model of the global crude oil market proposed by Kilian(2009), this article investigates the causes for wild fluctuations in oil prices since the mid-2000s. A main contribution of the study is to compare the effects of changes in oil price on three major economies,...

This paper develops a baseline agent-based macroeconomic model and contrasts it with the common dynamic stochastic general equilibrium approach. Although simple, the model can reproduce a lot of the stylized facts of business cycles. The author argues that agent-based modeling is an adequate...