Over the past 15 years there has been remarkable progress in the specification and estimation of dynamic stochastic general equilibrium (DSGE) models. Central banks in developed and emerging market economies have become increasingly interested in their usefulness for policy analysis and...

We show that a simple and intuitive three-parameter equation fits remarkably well the evolution of the gross domestic product (GDP) in current and constant dollars of many countries during times of recession and recovery. We then argue that this equation is the response function of the economy...

Models have been extensively analysed in economic methodology, notably their degree of ability to provide explanations. This paper takes a complementary, comparative approach, examining theory development in the natural sciences. Examples show how diverse types of evidence combine with causal...

Various strategic plans compiled by the local levels of government seek to advance the need to integrate strategic planning frameworks and improve service delivery and related content through the application of performance management tools. From the perspective of municipalities, all policies...