This paper estimates a demand for money function on household panel data from a national sample in the United States and constructed cross section interest rates. Its principal focus is the problem of truncation bias from a set of observations, which include zero observations of the dependent...

This paper proposes a symbolic model that parameterizes some of the elements of Kurnets Inverted-U hypothesis. The model incorporates the following important factors in the development process: savings rate, the capital-output ration, the speed of labor absorption and the rate of growth of...

A macroeconomic, instead of microeconomic, analysis of the role of rent carried out in this study. In the sphere of production, a Ricardian process of rent generation, as formalized by Pasinetti, is utilized. Rent extraction induces supply-side declines. Attemps to overcome economic slowdown...