Healthy growth towards sustainability requires evaluation methods that incorporate ecological and economic effects. Evaluating ecological effects in monetary terms would permit the use of Cost-Benefit Analysis. Major methodological difficulties hamper use of this approach. In this paper an...

Healthy growth towards sustainability requires evaluation methods that incorporate ecological and economic effects. Evaluating ecological effects in monetary terms would permit the use of Cost-Benefit Analysis. Major methodological difficulties hamper use of this approach. In this paper an...

The Non-Accelerating Inflation Rate of Unemployment (NAIRU) is an appealing theoretical concept with strong macroeconomic policy implications. In practice, NAIRU's can be computed from estimated wage and price equations running in growth rates or in levels. In this paper we specify and estimate...

One of the traditional motivations for building quarterly macroeconometric models is the demand for quarterly forecasts. Models based on annual data conceal higher frequency information and are not considered sufficiently informative to policy makers. Two difficulties may encumber quarterly...

This paper reviews empirical evidence for the United States on the impact of the public capital stock on productivity. On econometric grounds it is argued that most previous research is flawed. If the well-known model of Aschauer is estimated in first differences - which is necessary as the...

This paper reviews empirical research on the impact of government capital spending on economic growth. The pros and cons of five different ways to model the relationship between public investment and economic growth are reviewed, while some estimation results are presented for illustrative...

In this paper we analyse the impact of profits on investment using data of the Dutch manufacturing sector in a simple Kaleckian investment model. Profits and capacity determine the level of investment. The empirical analysis with this "non-mainstream" model confirms conclusions drawn in the...