In this paper we argue that as models of profitability and growthwithin the Marxist tradition have become more formal, they have reliedincreasingly upon assumptions of equilibrium. Analternative single-region, single-commodity model is proposed in whichoutput, demand, and capital accumulation...

Technical change arises from three sources: innovation within firms; changes in the relative size of firms with different technologies; and the entry and exit of firms, which again carry different technologies. These sources of technical change have different causes and are controlled by...

In this paper the potential for electric vehicle production and the likely economic impacts of developing an electric vehicle industry in Los Angeles are examined. An historical overview of the automobile industry in Los Angeles suggests that a fully fledged automobile complex was never really...

This paper contains an investigation into the potential linkages between the short-run (cyclical) and long-run (secular) movements in economic activity. The investigation is based on an analytically solvable stochastic monetary growth model in which learning-by-doing accounts for endogenous...

Motivated by the experiences of Mexico and Argentina, we explore a model intended to capture the interactions among exchange rate policy, fiscal policy, and default on foreign currency-denominated debt. Our objective is to examine how exchange rate policy affects the supply of short-term debt...

This paper examines the roles of domestic and international variables in predicting classical business cycle regimes in Germany, France, Italy and the UK over the period 1970 to 2001. A range of real and financial variables are used as leading indicators in domestic models, with these variables...