This article summarizes the main findings on problems related to the measurement and identification of business cycles. The aim of this study is to define and identify the determinants of business cycles. This paper provides an overview of the methodology and its future course. Our investigation...

The role of fiscal austerity has been questioned for centuries, but a rapidly increasing deficit along with the financial crisis in 2007 / 2008 influenced a renewed debate on the economics of austerity. This paper analyzes the role of austerity versus the role of economic growth. It also...

This paper presents a new model for defining the poverty line using the Kakwani (2010) approach and developing a possible candidate for the construction of a new official poverty line. The model uses consumer theory to construct both food and non-food poverty thresholds and ensures that the...

Innovation has long been recognized as one of the key elements of economic progress, though some say that its direct relation to the concept of economic growth remains rather controversial. Productivity growth is the key economic indicator of innovation, non-the-less. Growth theory assumes that...

This study shows the relationship between income distribution and other relevant economic variables and their impact on income distribution. Panel data analysis is used to study 200 world economies and identify main income determinants. Using such a large panel to study income distribution and...

Human capital as a critical engine of economic growth is present in many empirical and theoretical body of knowledge on growth models and theory. However, the conclusion on its importance as a driver of economic growth remains inconclusive. The aim of this study is to provide and detailed...

For centuries, scientists from various scientific fields have been leading lively discussions on the (bidirectional) relationship between population growth and economic growth. Particular attention was given to the nature of the population growth variable, i.e. whether it is an endogenous or...

Exploring and explaining development gaps between countries is an important theoretical and empirical task. This paper presents empirical studies related to economic growth and its determinants across countries, based on the use of data envelopment analysis method. It emphasizes the importance...

The link between human capital and economic growth still remains unexplained because of the measurement issues connected to the human capital stock. This study investigates the link between human capital stock and economic growth using inclusive wealth index and ratio of engaged to actively...

We observe a growing empirical literature on the divergence between labor productivity and compensation on a global scale. Empirical evidence of the decoupling for the OECD and transitional economies support the hypothesis of divergence between productivity and pay after 1980s. In this paper, we...