The objective of this article is to make a critical evaluation of the controversies about the Cambridge Equation both in the initial phase - when Pasinetti, Kaldor, Meade, Samuelson and Modigliani got involved - and in the second round that followed the publication of Steedman´s article, which...

We present a model in which two of the most important features of the long-run growth process are reconciled: the massive changes in the structure of production and employment; and the Kaldor facts of economic growth. We assume that households expand their consumption along a hierarchy of needs...

We examine the properties of a multivariate Dickey-Fuller t-statistic designed to test for a unit root in a panel while taking account of cross-sectional dependence. The asymptotic distribution is presented and critical values provided. When intercepts are present, a modification along the lines...

This article reports the results of fitting unobserved components (structural) time series models to data on real income per capita in eight regions of the United States. The aim is to establish stylised facts about cycles and convergence. A new model is developed in which convergence components...

Purpose The purpose of this paper is to understand the relationship between sustainable development (SD) and spirituality. Bhutan, a country believing deeply in Buddhist spiritual values has created a model of Gross National Happiness (GNH) where it is believed that the holistic evolution of...