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macroeconomic increasing returns

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Journal Article
History of Political Economy (2009) 41 (Suppl_1): 285–303.
Published: 01 December 2009
... macroeconomic increasing returns reveals the limitations of models that assume an aggregate production function exhibiting constant returns to scale while “augmented” by exogenous technical progress. His endogenously self-sustaining growth paradigm is also shown to differ in important respects (including in its...
Journal Article
History of Political Economy (1997) 29 (3): 413–443.
Published: 01 September 1997
... for the World Bank. Young , Allyn A. 1928 . Increasing Returns and Economic Progress. Economic Journal? 38 : 527 -42. Young , Allyn A. . 1929 . LSE Lectures. In Sandilands 1990b. Implications of an Endogenous Theory of Growth in Allyn Young’s Macroeconomic Concept of...
Journal Article
History of Political Economy (2015) 47 (3): 449–479.
Published: 01 September 2015
... funded by the National Science Foundation, a project that enabled Arrow to develop a theoretical and macroeconomic theory of increasing returns. We then examine the influence of John Dewey's experiential approach to education on Arrow's use of the notion of “learning by doing” and its approximation by...
Journal Article
History of Political Economy (1987) 19 (1): 87–106.
Published: 01 March 1987
...Gavin C. Reid Disequilibrium and increasing returns in Adam Smith's analysis of growth and accumulation Gaviri C. Reid I. Introductiori There exists an enormous secondary literature on all aspects of Adam Smith's work.' arid in contemplating adding to...
Journal Article
History of Political Economy (1972) 4 (1): 140–162.
Published: 01 March 1972
...Warren J. Samuels Copyright © 1972 by Duke University Press 1972 Mr. Samuels is Professor of Economics at Michigan State University. The Teaching of Business Cycles in 1905-1906 : Insight Into the Development of Macroeconomic...
Journal Article
History of Political Economy (2017) 49 (Supplement): 158–186.
Published: 01 December 2017
... years earlier in Three Essays on the State of Economic Science, “by the consid- eration that these models may be prototypes of more realistic but also more complicated subse- quent models.” 166 Halsmayer of output initially increased as well, but in the long run returned to its equilibrium...
Journal Article
History of Political Economy (2012) 44 (4): 710–712.
Published: 01 November 2012
... sustained work as against British genius for idiosyncratic brilliance was obvious. In his last years Kaldor began to argue against the notion of equilibrium and continually emphasized the role of increasing returns as subversive for neoclassical economics. Yet even as he was doing this, Paul Romer...
Journal Article
History of Political Economy (2015) 47 (3): 395–417.
Published: 01 September 2015
... and Medium-Run Macroeconomics 405 be “long-run increasing returns with respect to labor alone.” With dimin- ishing returns to labor, one would expect a sustained 1 percent increase in output to be accompanied ultimately by a larger than 1 percent increase in employment less an allowance for...
Journal Article
History of Political Economy (1978) 10 (2): 258–270.
Published: 01 June 1978
... states that the profitability of agriculture arises from the production of a large number of joint products, under condi- tions of increasing returns, until capacity is reached. The importance of this innovation cannot be overstated. It is notorious that a signifi- cant factor in the increased...
Journal Article
History of Political Economy (1995) 27 (Supplement): 247–266.
Published: 01 December 1995
...Robert W. Dimand Copyright © 1995 by Duke University Press 1995 References Blaug , M. 1991 . John Maynard Keynes (1883-1946) . 2 vols. Aldershot: Edward Elgar. Deutscher , P. 1990 . R. G. Hawtrey and the Development of Macroeconomics . Ann Arbor: University of Michigan...
Journal Article
History of Political Economy (2005) 37 (1): 157–159.
Published: 01 March 2005
... 30 percent, and we must hope that they will not need to be painfully rediscovered in some fu- ture macroeconomic breakdown. Japan’s decade of stagnation is already producing a return to the language of Keynes, including especially liquidity traps...
Journal Article
History of Political Economy (2012) 44 (3): 555–557.
Published: 01 September 2012
...David Laidler The Genesis of Macroeconomics: New Ideas from Sir William Petty to Henry Thornton . By Murphy Antoin E. . Oxford : Oxford University Press , 2009 . ix ; 233 pp. £23.00 . Copyright 2012 by Duke University Press 2012 Book Reviews The Cost of Living in America...
Journal Article
History of Political Economy (2009) 41 (Suppl_1): 334–355.
Published: 01 December 2009
... Infinite Dimensional Space. International Economic Review 13.2 : 416 –22. Rebelo, Sergio. 2005 . Real Business Cycle Models: Past, Present, and Future. Scandinavian Journal of Economics 107.2 : 217 –38. Romer, Paul M. 1986 . Increasing Returns and Long-Run Growth. Journal of Political...
Journal Article
History of Political Economy (2012) 44 (suppl_1): 226–249.
Published: 01 December 2012
... shift from data to phenomena and back depend- ing on the target of theoretical explanation. Our major goal is to explain how the changing epistemic status of shocks and the changing under- standing of their observability account for the massive increase in their role in macroeconomics. The...
Journal Article
History of Political Economy (2014) 46 (suppl_1): 198–228.
Published: 01 December 2014
... Trirogoff K. W. . New York : International Publishers . Ramsey F. P. 1928 . “ A Mathematical Theory of Saving .” Economic Journal 38 : 543 – 59 . Romer P. M. 1986 . “ Increasing Returns and Long-Run Growth .” Journal of Political Economy 94 : 1002 – 37 . Rosenstein...
Journal Article
History of Political Economy (2011) 43 (3): 513–536.
Published: 01 September 2011
... rising in the same circumstances on account of the increasing marginal return to a given capital equip- ment when output is diminished. (1936, 9–10) This passage is recalled by Keynes ([1939] 1973) in his reply to two arti- cles providing the statistical inquiry he called for. The first article...
Journal Article
History of Political Economy (2018) 50 (3): 425–481.
Published: 01 September 2018
... Characterization of Erratic Dynamics in the Overlapping Generations Model .” Journal of Economic Dynamics and Control 4 ( 1 ): 37 – 55 . Benhabib Jess Farmer Roger E. A. 1994 . “ Indeterminacy and Increasing Returns .” Journal of Economic Theory 63 ( 1 ): 19 – 41 . Benhabib Jess...
Journal Article
History of Political Economy (2021) 53 (1): 57–87.
Published: 01 February 2021
... (Asiain 2014: 83). Bunge preached his new macroeconomic stance in the pages of the Review of Argentine Economics. His economic journal was the leading voice in the contemporary debate on development strategies and economic policies capable of returning the country to the economic dynamism lost during...
Journal Article
History of Political Economy (2014) 46 (2): 177–210.
Published: 01 June 2014
... properties underlying the natural selection of media of exchange, enhancing the microeconomic efficiency in performing monetary functions and the macroeconomic effectiveness of maintaining monetary stability. After inquiring about the puzzle of metallism, this article investigates the development of the...
Journal Article
History of Political Economy (2014) 46 (suppl_1): 252–271.
Published: 01 December 2014
... the 1940s. The article then turns a by-product of the controversy—the model of short-run disequilibrium by Solow and Joseph Stiglitz—arguing that this marked a turning point in macroeconomics at MIT. Throughout it is argued that the close personal contacts between MIT economists and their Cambridge...