Notably, Africa countries have enjoyed relatively strong economic growth for the past years (decade) mainly because of impressive global demand for primary commodities. Unfortunately, Africa’s economic growth had failed to generate many good jobs and thus postponing the benefits of the...

Expenditures on healthcare and employment in the healthcare sector have been steadily increasing across OECD countries for many years. This shift of expenditure and employment towards a consistently found to be less productive sector has often been associated with the idea of Baumol’s (1967)...

This paper investigates the relationship between income inequality and aggregate demand. It is shown empirically, that increases in income inequality are associated with decreased aggregate consumption. The analysis reveals a systematic difference in the relationship between income inequality...

Serbian. U radu se istražuju odnosi u društvenoj reprodukciji posredstvom reprodukcione celine opšteg tipa – primarnog, sekundarnog i tercijarnog sektora. Na nivou ovih sektora, definisanih na način uobičajen u ekonomskoj literaturi (primarni: poljoprivreda i šumarstvo; sekundarni:...

The use of a homogeneous not degree 1 CES production function in a simple economic model under conditions of maximum profit leads to an inconsistency. This paper identifies the root of this problem and provides a solution. Building on this, we propose an improved formulation of the Modern...

The argument made in this manuscript is that the two traditional macroeconomic tools, fiscal policy and monetary policy, are insufficient to bring back efficiently into equilibrium an economy that has had a major crisis. Both traditional macro-tools only work through the demand side, and there...

The regional integration of the Romanian economy implies the continuation of modernizing existent structures, expanding the new entrepreneurial culture and foster the individual competences for corresponding to the European model. Foreign direct investments represent the link between financial...

Comment on: Suzanne Duryea, Gustavo Márquez, Carmen Pagés, and Stefano Scarpetta, who review evidence on labor market mobility in nine countries. Three countries come from Latin America, while the remainder are transition economies in Eastern Europe. The period of study ranges from as little...

When comparing the New Economy and the time before the Great Depression there are two obvious analogies. In the 1920s as in the 1990s there was an investment boom triggered through the use of new technologies and rapid technological development. In the 1920s, these were the electricity and the...

This paper examines the relationship between temporary terms of trade shocks and household saving in developing countries. It is first shown that, from a theoretical standpoint, this relationship is ambiguous: private saving may rise or fall in response to a transitory terms of trade shock,...