Luigi Pasinetti's contributions to economics cover an enormous range of topics. This review article concentrates on growth accounting in his 'natural system' and his models of post-Keynesian growth and distribution. The natural system is restated in terms of social accounting matrices and its...

This study is about the growth and development performance of non-industrialized regions in the latter part of the 20th century. We find that sustained per capita GDP growth was accompanied by structural change in terms of output and labor share shifts as well as productivity growth with (in...

With full stock/flow accounting respected, the two-country open economy portfolio balance model has just two independent equations for asset market clearing. It can determine home and foreign interest rates but not the exchange rate. If asset market equilibria vary smoothly over time, the...

The current negotiations on a transatlantic Free-Trade Agreement between the US and the EU (TTIP) have raised substantial public interest. Several studies have highlighted the positive economic effects of TTIP. A new ÖFSE report shows that these claims are overstated and neglect crucial...