This paper develops a non-equilibrium dynamic model (NEDyM) with Keynesian features (it allows for a disequilibrium between output and demand and it considers a constant marginal propensity to consume), but where production is undertaken under plain neoclassical conditions (a constant returns to...

The geographic concentration of industries has attracted much attention in recent economic and geographic literature. One mechanism employed to explain the emergence and comparative advantage of industrial agglomerations is based on the relationship between industrial agglomeration and local...

The paper explores the connection between the natural rates of unemployment and interest first put forward in the literature by Dennis Robertson in the 1930s. This looks at monetary dynamics in the business cycle and assesses the Robertsonian contribution to developments in macroeconomics before...

The paper investigates the effects of external sources of knowledge on firm growth. In line with the knowledge spillovers literature, we focus on the relationship between firms and universities, considered as a crucial source of knowledge. To this purpose, we analyse a sample of UK public...

Liberalisation transforms market structures through the responses of incumbent firms and entrants to freedom of choice. Market shares tend to turn more volatile, and the agility and competitiveness of small, as against large, firms determine whether markets grow more concentrated, or less. We...

Knowledge spillovers from a university to the local industry play an important role in high-technology clusters, but we know little about these spillovers. This paper examines empirically the extent of informal contacts between employees in firms and local university researchers in a wireless...

The purpose of this paper is to examine the medium run effect of the speed of demand saturation on the dynamism of the labour market which involves factors such as the growth of employment and real wage rate, using a computer simulation of the stochastically multi-sectoral pure labour model with...

The proponents of the 'opportunistic' approach to disinflation suggest that, when inflation is close to the target, the central bank should not counteract inflationary pressures. Orphanides and Wilcox (2002) formalize this idea through a simple policy rule that prescribes a nonlinear adjustment...