The focus of this paper is on the evolution of the major macroeconomic variables of classical political economy and the contrast with their orthodox counterparts in the quest to identify the causes of the current crisis in the Greek economy. Our analysis shows that declining profitability past a...

This paper investigates the level of market power in the Greek manufacturing and services industry over the period 1970-2007. Based on the Roeger methodology, we investigate the competitive conditions in the examined industries at a disaggregated level (two and three digit ISIC codes). The...

The study examines whether corporate governance mechanisms and the compliance with good governance practice are related to cash dividends. In particular, the study assesses the effect of institutional ownership and board structure on the decision to pay cash dividends. A study on UK firms is...

In this paper we examine the impact of human capital on technical inefficiency. A stochastic production frontier is simultaneously estimated with a technical inefficiency model using data from one-digit industries of the Greek economy, for the period 2000-2005. The results indicate a...

The debate about the Prebisch-Singer thesis has focused on primary commodities with some extensions to manufactures. We analyse trends in country terms-of-trade for goods and services rather than those for commodities according to the World Bank income classification. We find that the natural...

The Italian gender wage gap is related to a gap in returns to education which causes a sizable glass ceiling effect. The gap is detected by quantile regressions implemented in different subsets. Quantile regressions allow computation of both the average gap and the divergence in the tails of the...

This paper argues that wages lagging behind productivity is a long-run structural phenomenon due to the interplay of wage dynamics and productivity growth. We call this interplay frictional growth, a term that can only be nullified in the utopian case of zero growth and/or no dynamics. In that...

The Bhaduri-Marglin model is a post-Kaleckian model that allows one to study the impact of a functional income distribution on the growth in demand. Over recent years, a number of empirical studies based on this model have aimed at determining whether a redistribution towards profits harms or...

Is the ongoing economic slowdown in industrialized countries likely to impact Latin American growth negatively in the medium- to long-run? This paper considers various transmission channels that work through trade in goods and services, and finds econometric evidence suggesting that shrinking...

Using panel data for 48 heterogeneous countries for the period 2000-2010, we explore the impact of a wide set of determinants along with the technological infrastructures on goods and services exports in gravity models. We find that along with the usual basic factors such as incomes, distance,...