This paper presents estimates of export and import demand functions for the G7 economies over the period 1956 to 1995 and over two sub-periods 1956-73 and 1974-95. These estimates are used to construct predictions of the equilibrium growth rates for these economies by use of the 'Thirlwall's...

In a recent book entitled Pop Internationalism Paul Krugman takes to task several prominent commentators who in recent years have published works decrying the loss of competitive position of the United States in an increasingly global economy. In particular, Krugman critically considers and...

This article investigates the extent to which the European economy (as a whole) has entered a period of restructuring from 1970 to the present, and assesses whether different theories of restructuring can explain the processes involved.Three political economy perspectives on restructuring are...

Slow productivity growth has put pressure on the distribution of income between wages and profits in ways that are not amenable to a US versus Europe dichotomy but vary between sectors (especially between manufacturing and service activities) as well as among countries. Over the 1980s and the...

An abnormal expansion of the public sector may create serious problems to the market economy, as the literature suggests. This issue is quite important in countries such as Italy where the size of the public sector and of its debt are quite relevant. In this paper a model, in the microeconomic...

There appears to be two main market-oriented policy-models of development: the Japanese Model (JM) and theWashington Consensus Model (WCM). Both stress the importance of, and are based on, macroeconomic stability, export-led development, and private sector initiative. There are, however,...

This study uses a new Granger no-causality testing procedure developed by Toda &Yamamoto (1995) to contribute to the debate on immigration and unemployment in Australia and New Zealand. It investigates a possible causal linkage between these variables in a six-variable vector autoregression...

This paper describes a dynamic, multisectoral model of a less developed economy in which investment and income distribution policies influence structural change and the pattern of trade. That is, the model considers a Keynesian 'socialised investment' function and distributional policies that,...

In the first half of this paper the evidence concerning the costs of job insecurity is presented. There is now sufficient good research data to conclude that job insecurity is damaging to psychological health, marriages and employee motivation, and contributes to 'cycles of disadvantage'. In the...

This paper, based largely on data from the Italian social security (INPS) records, shows that recent employment trends in Italy have been marked by large job and worker turnover and a new and strong process of renewal and substitution of labour in industry. Entries of young workers have shown a...