This paper extends the balance-of-payments constraint on growth known as Thirlwall's law to incorporate unbalanced trade and debt accumulation. Assuming that small open economies face a liquidity constraint, the text shows the growth and real-exchange-rate policy rules consistent with a stable...

Structural changes in the macroeconomy, brought about by the economic crisis, have profound implications for the Chinese textile and apparel sector, since firms will have to shift from mainly serving global brands in foreign markets to serving domestic Chinese consumers. This paper takes up the...

In New Classical and New Keynesian thinking, the cross-country pattern of unemployment reflects prevailing equilibrium rates, which in turn are mainly explained by the protective labor market institutions that produce market rigidities. While this orthodox view has framed nearly all of the...

Employers are the heart of the American pension system and yet they are not well understood by policy makers despite the great influence of Congress on pension design through both regulation and favorable tax treatment of retirement accounts. Employer contributions to employee pensions have...

The paper presents the predominant elements in the worldview of mainstream economists that cause their indifference, incomprehension or hostility to human rights studies as well as the ways economic scholarship can help the development of human rights studies.

This paper investigates the changing relationship between employment and real output in the U.S. economy from 1948 to 2010 both at the aggregate level and at some major industry-grouping levels of disaggregation. Real output is conventionally measured as value added corrected for price...