It is well established in theory that trade liberalization impacts on productivity through the reallocation of market share to more productive firms. Since more productive firms tend to pay higher wages, the market reallocation effect also increases average wages. In addition to these...

This paper discusses a longstanding debate between two empirical approaches to macroeconomics: the econometrics program represented by Lawrence R. Klein, and the statistical economics program represented by Milton Friedman. I argue that the differences between these two approaches do not consist...

Lawrence R. Klein (1920-2013) played a major role in the construction and in the further dissemination of econometrics from the 1940s. Considered as one of the main developers and practitioners of macroeconometrics, Klein's influence is reflected in his application of econometric modelling “to...

This study using aggregate data from 1970 to 2012, investigates balance of payments adjustment and productivity growth in Nigeria by specifying a small macro-econometric model to analyze the various channels through which the economy's Bop position could be enhanced. The empirical model...

This report presents the current version of the European Commission's spatial computable general equilibrium model RHOMOLO, developed by the Directorate-General Joint Research Centre (DG JRC) in collaboration with the Directorate-General for Regional and Urban Policy (DG REGIO) to undertake the...

We present conditions for the emergence of singularities in DGE models. We distinguish between slow-fast and impasse singularity types, review geometrical methods to deal with both types of singularity and apply them to DGE dynamics. We find that impasse singularities can generate new types of...

The integration of technology in the educational process is becoming increasingly important for improving the 21st century student's understanding and retention of academic material. Being able to readily apply the theory covered in class and to automatically receive immediate feedback is...