This paper takes up a question frequently raised but rarely addressed empirically - do macroeconomic policy changes and exogenous macro shocks have significant impacts on poverty and income inequality more generally? For 15 countries in Latin America and the Caribbean over the past two decades,...

Arguments regarding trade and other forms of liberalization in developing countries are reviewed. Microeconomically, the standard case for liberalization is dubious under increasing returns to scale and when firms can invest directly in productivity enhancement. Distributional effects of...

Policies seeking to directly help the poor have an important role to play. But without sustained growth in per capita output and significant job creation, they will not succeed. Policies promoting growth have been suggested, most notably by avoiding pro-cyclical responses to macroeconomic shocks...

Wynne Godley has made enormous contributions to macroeconomic modelling. They are reviewed here in connection with his recent book with Marc Lavoie, Monetary Economics: An Integrated Approach to Credit, Money, Income, Production, and Wealth. Copyright The Author 2008. Published by Oxford...

La experiencia del desarrollo en diferentes países parece variar ampliamente. Una pregunta sensata para comenzar podría ser: ¿ es posible tener un enfoque general y único de la política del desarrollo? La respuesta del Informe acerca del desarrollo mundial de 1991(o IDM) del Banco Mundial...

CGE modelling has dominated analysis of the impact of external liberalisation on poverty. This article provides a structuralist critique of standard neo-classical CGE models. It highlights five sets of gaps and partial achievements in the modelling of issues affecting the poverty impact of...

There are regular counterclockwise cycles involving capacity utilization u (horizontal axis) and the labor share &psgr; (vertical axis) in the US economy since 1929. As in Goodwin's cyclical growth model, &psgr; can be interpreted as a Lotka-Volterra predator variable and u as prey. In a phase diagram,...